U.S. stock index futures climbed on Friday, marking a robust first half of the year, as investors awaited the release of crucial inflation data that could influence the Federal Reserve’s interest rate decisions. Key Points: Market Performance: Dow Jones Futures rose 0.1%, S&P 500 Futures gained 0.4%, and Nasdaq 100 …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
June, 2024
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28 June 2024 3:09 pm
U.S. Stock Futures Rise, Capping Strong First Half, Ahead of Key Inflation Data
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28 June 2024 12:20 pm
Gold Prices Tread Water Ahead of Crucial U.S. Inflation Data
Gold prices experienced a slight dip in Asian trading on Friday, remaining within a tight range as traders favored the U.S. dollar in anticipation of key inflation data that could influence interest rates. Despite recovering from a dip below the $2,300 an ounce support level earlier in the week, gold …
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28 June 2024 10:30 am
Oil Prices Climb on Supply Fears Despite U.S. Inventory Build, Strong Dollar
Oil prices continued their upward trajectory in Asian trading on Friday, poised for substantial gains in June. This ascent was fueled by growing concerns over potential supply disruptions stemming from escalating geopolitical tensions in Russia and the Middle East, overshadowing fears of slowing demand despite a surprising increase in U.S. …
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28 June 2024 9:33 am
Asian Stocks Shine in June, Buoyed by Fed Hopes and Tech Boom
Asian markets concluded June on a high note, driven by optimism surrounding potential interest rate cuts by the Federal Reserve later this year due to a cooling U.S. economy. South Korea’s KOSPI index led the charge with an impressive 5.9% gain, boosted by the surging chipmaking sector and the growing …
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28 June 2024 4:27 am
Market Drivers; US Session, June 27
USD Retreats on Eve of PCE Data The US Dollar Index (DXY) pared back gains from its recent surge above 106.00, as cautious investors awaited the release of crucial US inflation data (PCE). The PCE figures, due on June 28th, will be the main focus, along with Personal Income, Spending, …
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28 June 2024 4:15 am
What can markets expect from the PCE print?
Market expectations are pointing toward a fresh decline in both headline and core Personal Consumption Expenditures (PCE) figures for the United States, set for release on Friday. Current projections suggest a possible drop in the headline PCE index to 2.6% for May, down from the previous month’s reading of 2.7%. …
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28 June 2024 3:10 am
US Dollar Under Pressure Following Fresh Data
The US dollar has been under downward pressure since the open of trading on Wall Street following the release of a batch of data that aligns with the Federal Reserve’s preferred trajectory.DXY PerformanceThe Dollar Index, which measures the performance of the US dollar against a basket of major currencies, fell …
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28 June 2024 12:30 am
BlackBerry stock surges on positive earnings report
BlackBerry stock has surged after its Q1 earnings report, surprising Wall Street by beating revenue expectations. The company’s revenue beat expectations, with a share revenue of 100 and 33 million, which was a narrower than expected quarterly loss. Companies are on track to be both profitable on a non-gap basis …
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27 June 2024 10:47 pm
Gold climbs as USD falls, Treasury yields dip
The XAU/USD Index has rebounded from a two-week low following inflation data from Canada and Australia. The Dollar Index (DXY) dropped 0.12% to 105.91, off a monthly high of 106.13. The Federal Reserve’s preferred gauge for inflation, the May PCE, is expected to decrease from 2.7% to 2.6% YoY, with …
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27 June 2024 9:49 pm
CAD’s performance mixed as traders await GDP data
The Canadian dollar experienced mixed performance on Thursday due to mixed US data. Canada is absent from the economic calendar until Friday’s GDP update for April, leaving CAD traders to shuffle. However, Friday’s US PCE Price Index inflation is set to eclipse Canadian GDP figures entirely, as a key reading …
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27 June 2024 9:22 pm
Fed official: Rate cut likely in Q4
Federal Reserve President Raphael Bostic expects to begin lowering interest rates later in 2024, stating that inflation doesn’t have to fall all the way to 2% for him to favor a cut. Bostic is currently monitoring progress toward the annual target of lowering interest rates, and sees plausible scenarios in …
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27 June 2024 7:40 pm
Walgreens earnings miss market expectations
Walgreens reported fiscal earnings that fell short of expectations and slashed its full-year adjusted profit outlook due to a “challenging” environment for pharmacies and US consumers. The company topped revenue estimates for the quarter on strong performance in its health-care segment, as the results come as Walgreens works to slash …
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27 June 2024 3:31 pm
Toyota Motor Corp. Reports Fourth Consecutive Decline in Global Sales Amidst Challenges
In a press release issued today, Toyota Motor Corp., the world’s leading automaker by sales volume, announced a 2.0% year-on-year decline in global sales for the month of May. This marks the fourth consecutive month of declining sales for the company. Key Figures: Global Sales: Decreased by 2.0% to 888,491 …
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