Market Update

Oil prices rose by more than a dollar on Friday as reports came in that the US military bombed Iranian targets in Syria, once again raising fears of a widening conflict between Israel and Hamas that could affect supplies from the Middle East. By 0638 GMT, Brent crude futures for …

Gold prices are heading for gains for the third week in a row on Friday, as conflict in the Middle East leads to investors increasingly seeking safe havens, despite US interest rates remaining high for a longer period. By 0341 GMT, gold in spot transactions rose 0.1 percent to $1,986.76 …

The US economy expanded at an annualized rate of 4.9% during the third quarter, surpassing market consensus of 4.2%. The report also revealed a lower-than-expected core Personal Consumption Expenditure (PCE) price index, which increased demand for bonds. Other data showed a rise in Continuing Jobless claims to 1.79 million, reaching …

EUR/USD experienced a daily low of 1.0521 and recovered towards the 20-day SMA, around 1.0560. The Euro faced selling pressure after the ECB held rates steady, and Christine Lagarde acknowledged the Eurozone’s economic struggles. The USD gained momentum on strong Q3 GDP data, but lower US yields limited the upwards …

The US Dollar witnessed heavy trading against its rival currencies on Thursday, and the DXY index reached monthly highs in the wake of the country’s unexpectedly strong GDP and durable goods data as well as the weekly initial jobless claims report.The USD was kept from rising higher by declining US …

From a daily low of 0.9456, the EUR/CHF pair rises 0.17% to trade at 0.9491. The 50-DMA at 0.9585 and the high of 0.9533 on October 17th, respectively, represent resistance points.Support is located at 0.9450, with additional floors at the lows of 0.9417 and 0.9403 from October 20 and September …

Hertz, a rental company that began using Tesla automobiles in 2021, faced difficulties as a result of the electric automaker’s price reductions during the third quarter. Hertz’s Q3 earnings report was hampered by price fluctuations because profit projections were not met.As it learns to control expenses, Hertz will reduce the …

Global stock markets saw a decline on Thursday as US Treasury yields remained close to 5%, the country’s economy grew faster than anticipated, and corporate earnings were mixed.According to data, the third quarter saw the fastest rate of growth in the US economy in almost two years. This was despite …

As markets approach the release time on Friday, October 27 at 12:30 GMT, the US Bureau of Economic Analysis (BEA) will release the Core Personal Consumption Expenditure (PCE), the Fed’s preferred inflation gauge. Below are the forecasts from economists and researchers at six major banks.Expected headline is 3.4% year over …

At 150.77, the USD/JPY pair reached a new high that was not seen since late October 2022. Both the US Q3 GDP preliminary estimates and September’s orders for durable goods exceeded forecasts.The USD/JPY kept moving higher during Thursday’s session, peaking at 150.77 before levelling off at 150.35. In contrast to …