Market Update

Gold prices, XAU/USD, experienced a sharp decline on Thursday, plummeting 1.5% after reaching a record high of $2,790. This sudden downturn can be attributed to several interconnected factors.Firstly, the surge in US Treasury bond yields has dampened gold’s appeal. Stronger-than-expected US employment data has fueled expectations of further interest rate …

The EUR/USD pair rallied to a two-week high of 1.0890, fueled by a robust Eurozone economy and persistent inflationary pressures.Key Factors Driving the Rally:Eurozone GDP Growth: The Eurozone economy expanded at a faster-than-expected pace of 0.9% in the third quarter, with Germany avoiding a technical recession.Hotter-Than-Forecasted Inflation: Eurozone inflation accelerated …

U.S. stock index futures declined on Thursday, influenced by disappointing forecasts from tech giants Meta (NASDAQ:META) and Microsoft (NASDAQ:MSFT), which pointed to increased capital spending. By 04:01 ET (08:01 GMT), the Dow futures dropped 181 points (0.4%), the S&P 500 futures fell 41 points (0.7%), and the Nasdaq 100 futures …

European stock markets experienced declines on Thursday as investors assessed a wave of corporate earnings reports in anticipation of the upcoming eurozone inflation data. As of 04:05 ET (08:05 GMT), major indices reflected this trend: Germany’s DAX was down 0.8%, France’s CAC 40 fell by 0.5%, and the U.K.’s FTSE …

Microsoft has announced expectations for increased spending on artificial intelligence (AI) in the current quarter but cautioned that growth in its Azure cloud business may slow down due to capacity constraints at its data centers. Shares of the Redmond, Washington-based company fell 3.6% in after-market trading, reversing earlier gains despite …

Oil prices advanced on Thursday, driven by positive signs for U.S. fuel demand after an unexpected drop in crude and gasoline inventories, and potential delays in OPEC+ production increases. Brent crude climbed 0.65% to $73.02 per barrel, while West Texas Intermediate (WTI) rose 0.63% to $69.04 per barrel. The Energy …

The US dollar’s Pause: A Temporary Respite?The US Dollar Index (DXY) has recently shown signs of fatigue, retreating from its recent highs. Despite encouraging economic data, including strong job growth, the US dollar’s relentless ascent appears to be pausing.Key Economic Events to Watch – United StatesPersonal Consumption Expenditure (PCE) Price …

The US Dollar softened on Wednesday as mixed economic data emerged. While the ADP Employment Change report for September exceeded expectations, signaling robust job growth in the private sector, the downward revision to Q3 GDP growth tempered optimism. This conflicting data painted a nuanced picture of the US economy, leaving …

Gold, the timeless haven asset, has recently surged to unprecedented heights, reaching a record high of $2,790. This meteoric rise is a testament to its enduring appeal as a safe-haven asset during times of economic uncertainty and geopolitical turmoil.   Gold’s recent surge is a testament to its enduring appeal …

The foreign exchange market has been witnessing intriguing dynamics, primarily driven by the divergent economic trajectories of the Eurozone and the United States. The Euro has surged against the US Dollar, reflecting a confluence of factors that have propelled the Eurozone economy and dampened the appeal of the dollar.The recent …