Overall, market sentiment fluctuated between optimism and concerns, as the US Dollar started the trading day with negative performance. The American currency managed to recover by mid-way, and finally fell closing in the red territory against its major rival currencies.US Dollar’s slump resulted from US Federal Reserve Chair Jerome Powell’s …
Read More »EUR/GBP rebounds ahead of Germany’s Retail Sales
The EUR/GBP pair is exhibiting mixed performance within a 40-pip range broadly ahead of German Retail Sales. A surprise decline in Eurozone inflation weakened hawkish ECB bets. The sentiment of UK households fell as food inflation soared to a 45-month high.On Wednesday, the headline Eurozone HICP was lower at 10.0% …
Read More »Gold eying $1,787 ahead of Fed’s favored inflation reading
Gold price begins December on a firmer standing around $1,768, after posting the biggest monthly gains in 29 months during November. The precious metal’s latest run-up could be linked to the dovish messages by Fed Chair Jerome Powell, as well as optimism surrounding China. Gold buyers are expected to take …
Read More »Wall Street advances on Powell’s dovish signals
Wall Street is rejoicing on the latest comments by Jerome Powell. The S&P 500 has gained the first day in four following significantly dovish comments by Fed’s Jerome Powell confirming that the US Fed will slow the pace of its hawkish rate-hiking that impacted financial and exchange markets.The broad index …
Read More »Powell’s Speech Drags US Dollar Lower
In his first public appearance and remarks on the US economy since the post-FOMC policy decision press conference on November 2, where he warned of a higher terminal rate, Fed chair Jerome Powell said on Wednesday that it would “make sense to moderate pace of interest rate hikes”.Since the November …
Read More »European markets close higher on Eurozone inflation data
European markets closed higher on Wednesday as November has proved to be a month with robust performance while regional investors reacted to the latest inflation data from the Eurozone for the month.Stoxx 600 closed up 0.6%, adding monthly gains of around 6.1%. Household goods added 2.3% to represent the leading …
Read More »Fed’s Cook: Time nearing to hike rates in smaller steps
Fed’s Lisa Cook, who before said the US central bank is focused on addressing inflation that is “much too high”, reiterated on Wednesday that inflation is still too high.Cook noted that it could soon be “time for the US central bank to take its foot off the gas when it …
Read More »US Dollar slides on disappointing jobs data ahead of Powell’s speech
The US dollar is sliding lower following jobs data in November that missed expectations before a highly awaited speech by Fed Chair Jerome Powell. The dollar index added to earlier losses after the ADP National Employment reading indicating that US private payrolls increased far less than expected in November, suggesting …
Read More »Dow falls 200 points as investors await Powell speech
The Dow Jones Industrial Average fell on Wednesday as Wall Street is walking through ponds of economic data and investors await this afternoon speech on the US economy by Fed Chair Jerome Powell. Powell will give his speech before Brookings Institute.The Bureau of Economic Analysis reported that GDP increased at …
Read More »US JOLTS reading declines to 10.3 million in October
US JOLTS Job Openings discreetly retreated in October. The number of job openings fell to 10.3 million on the last business day of October versus the previous reading of 10.7 million in September according to the US Bureau of Labour Statistics in its Job Openings and Labour Turnover Summary (JOLTS) …
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