Market Update

The U.S. dollar remained stable in early European trading on Friday as traders awaited the release of crucial U.S. employment data, while the euro steadied following the European Central Bank’s (ECB) historic rate cut. At 05:00 ET, the Dollar Index, tracking the greenback against a basket of six other currencies, …

Oil prices experienced a slight uptick on Friday as Saudi Arabia and Russia, key members of OPEC+, signaled their willingness to adjust output agreements if necessary. However, the market remains on track for its third consecutive weekly loss, primarily due to concerns about increased supply following the recent OPEC+ meeting. …

Gold prices surged in Asian trading on Friday, approaching key highs as expectations of Federal Reserve interest rate cuts gained momentum in anticipation of crucial nonfarm payrolls data due later in the day. The precious metal was poised for weekly gains following a series of weak U.S. economic readings that …

According to a Reuters poll, Japan’s economy likely contracted at a slightly slower pace than initially reported in the first quarter of 2024, due to upward revisions in capital spending figures. However, economists warn that significant risks continue to cloud the outlook for recovery. The revised gross domestic product (GDP) …

Gold reached a two-week high of $2,378 on Thursday following weaker-than-expected jobs data announced by the US Bureau of Labor Statistics (BLS). The BLS report had a significant impact on US Treasury bond yields, which remained virtually unchanged, providing a tailwind for the precious metal. As a result, the XAU/USD …

The eagerly awaited Employment Change Report for May, scheduled for release on Friday, June 7th, 2024 at 8:30 AM ET, is poised to provide crucial insights into the status of the US labour market. As economic indicators hint at a potential slowdown, investors are closely monitoring the data for signals …

WTI crude oil has rebounded to $75.75 per barrel in thin market trading. Energy traders are cautiously optimistic, focusing on expectations of a Federal Reserve rate cut in Q3 while grappling with oversupply risks.The American Petroleum Institute (API) and the Energy Information Administration (EIA) have reported a significant increase in …

As markets brace for Friday’s crucial labour data from both the US and Canada, the Canadian dollar fell into a holding pattern on Thursday. Although there is still a chance of a push-out to November, investors are still inclined towards betting on a September rate cut from the US Fed. …

US Treasury bond yields have shifted upward since the start of Thursday’s trading session on Wall Street. This change comes after preliminary employment indicators sparked speculation that the Federal Reserve may maintain interest rates at elevated levels for some time.The US Challenger Job Cuts Index recorded a decline to 63,816 …

Gold trades 0.74% higher as bets the Fed will cut rates in September remain elevated despite strong US service sector data. Gold breaks out of its range higher, muddying the short-term technical picture. Gold (XAU/USD) is trading up by about 0.2% in the $2,360s on Thursday just after the European …