Market Update

The US Bureau of Labour Statistics is set to release November’s jobs report on Friday, December 8, with expectations for a 180,000 rise in Nonfarm Payrolls. Gold is expected to react stronger to a disappointing jobs report than an upbeat one. US stocks are trading modestly higher on Thursday, led …

Numerous unions in the Nordic region have become involved in the labour dispute between Tesla and Swedish trade union IF Metall, calling on the automaker to sign a collective bargaining agreement.A strike by around 130 workers affiliated with IF Metall on October 27 has sparked sympathy strikes from dockworkers, cleaners, …

Gold gains as more major central banks increase their bets on rate cuts in early 2024. The precious metal is receiving additional support from the cautious sentiment of the market. Gold is trading at 2029.38 at the time of writing.Early on Thursday in the European session, the price of gold …

The US dollar has been declining versus the Japanese yen over time, and the unemployment rate has not changed. The Japanese Yen is hurting the dollar because Bank of Japan Chairman Kazuo Ueda hinted at an impending shift in monetary policy. Rates negative has been maintained by the Bank of …

Moody’s lowered its outlook for 8 Chinese banks to negative from stable, after lowering Beijing’s outlook to negative. The names that were downgraded included the four largest lenders in China, namely Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank Corporation. The agency said that …

Gold prices rose on Thursday as the dollar fell as investors looked to US jobs data that will be released later this week and may provide new clues on the Federal Reserve’s path on interest rates. Gold rose 0.3 percent to $2,030.20 an ounce by 0748 GMT. US gold futures …

European stocks fell on Thursday, with travel and entertainment stocks leading the losses, as investors became increasingly concerned about an economic slowdown after recent weak data. The European STOXX 600 index fell 0.3 percent by 0810 GMT, after touching the peak of more than four months yesterday, Wednesday. Data showed …

Customs data showed on Thursday that China’s crude oil imports in November fell 9.2 percent year-on-year, the first annual decline since April as high inventory levels, weak economic indicators and a slowdown in orders from independent refineries weakened demand. According to the General Customs Administration, the total imported crude oil …

The euro fell to its lowest level in more than three weeks on Thursday as traders increased bets that the European Central Bank will begin cutting interest rates starting in March 2024, while the dollar stabilized ahead of the release of important jobs data this week. The euro fell 0.07 …

Japan’s Nikkei index fell sharply on Thursday after Wall Street fell overnight ahead of the release of key jobs data that would provide clues on how quickly the Federal Reserve (US central bank) might start cutting interest rates. The Nikkei Nikkei fell 1.76 percent to 32,858.31 points at close, with …