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The University of Michigan’s Consumer Sentiment Index has slipped to 77.9, indicating a weakening in US consumer confidence. However, the US Dollar is expected to consolidate weekly gains following hot inflation data. The Consumer Sentiment Index slipped to 77.9 from 79.4 in March, below the market expectation of 79. The …
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April, 2024
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12 April 2024 3:08 pm
High safe-haven demand fuels gold’s unprecedented gains
Gold prices surged on Friday, reaching an unprecedented peak and poised to mark weekly gains for the fourth consecutive week, driven by geopolitical tensions and economic concerns surrounding China, which spurred strong demand for the safe-haven asset. As of 0934 GMT, spot gold prices rose by 0.9 percent to $2,394.87 …
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12 April 2024 1:24 pm
Blue chips support European stocks amid interest rate cut hopes
European stocks opened higher on Friday, buoyed by gains in blue-chip stocks, while investor sentiment remained positive following hints from the European Central Bank (ECB) indicating a potential interest rate cut in June. The European STOXX 600 index surged 0.9 percent, poised to achieve a weekly gain of 0.4 percent, …
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12 April 2024 12:37 pm
Inflation in Germany falls to its lowest level in about 3 years
Final data from Germany’s Federal Statistics Office showed on Friday that inflation eased in March thanks to a decline in energy and food prices. Inflation in Europe’s largest economy recorded 2.3 percent, the lowest level since June 2021. Consumer prices, harmonized to facilitate comparison with other countries in the European …
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12 April 2024 11:31 am
Gold Approaches Unprecedented Highs and Aims for Fourth Straight Weekly Advance
On Friday, gold prices surged to unprecedented heights, buoyed by central bank acquisitions amid geopolitical tensions. Despite robust American economic indicators failing to temper demand, the spot price of gold climbed 0.5 percent to $2,384.34 per ounce by 0345 GMT, reaching a peak of $2,395.29 earlier in the session. US …
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12 April 2024 10:33 am
Oil Rises Amid Heightened Tensions in the Middle East, Despite Heading for Weekly Loss
Oil prices rebounded on Friday, buoyed by escalating tensions in the Middle East, which raised concerns about potential supply disruptions from the oil-producing region. However, despite the uptick, prices are on track for a weekly loss amid expectations of fewer interest rate cuts in the United States this year. As …
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12 April 2024 4:29 am
Market Drivers; US Session, April 11
Risk-linked assets regained some momentum amid a mild corrective decline in the US Dollar and rising speculation of a Fed rate cut later in 2024. In the meantime, the ECB left rates unchanged as expected and opened the door to a rate cut in June.Economic DataBased on annualized data released …
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12 April 2024 4:19 am
IMF managing director: Fed should be able to cut rates by end 2024
The Federal Reserve (Fed) should be able to start cutting interest rates by the end of 2024, according to Kristalina Georgieva, managing director of the International Monetary Fund.At the press time, the US Dollar Index (DXY) was down 0.01% on the day to trade at 105.27.Key Quotes“We remain on our …
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12 April 2024 3:55 am
Delta Reports Robust Earnings in Tough Quarter for US Airlines
With adjusted earnings of $380 million in the first quarter, up 75% over the prior year, Delta Airlines posted better than expected earnings. Even though average passenger revenue decreased by 2%, the company’s $12.6 billion in revenue was a record. In the second quarter, Delta expected record revenue, but it …
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12 April 2024 2:16 am
Gold soars to all-time highs again after US PPI data
Falling US Treasury yields and a declining US dollar have helped to dramatically boost gold prices. In an uncertain environment, mixed signals from labour data and producer inflation support gold. Fed officials’ concerns about inflation strengthen Gold’s appeal as a safe haven, influencing sentiment. The price of gold recovered its …
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11 April 2024 5:28 pm
European Central Bank holds interest rates
The European Central Bank (ECB) decided to maintain interest rates at all-time highs following its governing council meeting in Frankfurt on Thursday. However, the ECB signaled a potential rate cut at its next meeting in June. The benchmark deposit rate was kept at 4 percent until policymakers were confident that …
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11 April 2024 3:52 pm
Dollar rises and Yen falls amid lower expectations of interest rate cuts
The dollar gained ground on Thursday following the release of higher-than-expected US inflation data, which tempered remaining expectations for the Federal Reserve to initiate a cycle of interest rate cuts in June. Meanwhile, the yen depreciated to mid-1990s levels. Investor attention has now shifted towards US producer price data and …
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11 April 2024 1:44 pm
Gold rises on the back of geopolitical tension enhancing safe haven appeal
Gold prices rebounded on Thursday, recouping losses from the previous session, buoyed by geopolitical tensions that spurred demand for the precious metal as a safe haven. In spot transactions, gold edged up by 0.1 percent to $2,334.64 per ounce as of 0809 GMT. The yellow metal had seen record highs …
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