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The number of job openings on the last business day of February stood at 8.75 million, the US Bureau of Labour Statistics (BLS) reported in the Job Openings and Labour Turnover Survey (JOLTS) on Tuesday. This reading followed 8.74 million (revised from 8.86 million) openings in January and came in …
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April, 2024
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2 April 2024 4:28 pm
Gold rises to an unprecedented level
Gold prices surged to a new record high on Tuesday, driven by demand from influential investment funds despite a stronger dollar and expectations of prolonged higher US interest rates. At 1055 GMT, gold rose 0.5 percent in spot trading to $2,262.51 per ounce, after hitting unprecedented levels at $2,266.59. This …
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2 April 2024 2:50 pm
Inflation slowed in Germany
Inflation in Germany slowed down in March, reaching a level of 2.3% compared to 2.6% in February 2024. This brings Germany closer to the European Central Bank’s inflation target of 2%. Economists surveyed by Reuters had anticipated that Germany’s harmonized inflation rate would be 2.4% in March, down from 2.7% …
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2 April 2024 2:12 pm
Dollar rises amid declining hopes for an early cut in interest rates
The dollar remained near its highest levels in four and a half months against major currencies on Tuesday amid diminishing expectations for the timing of the first interest rate cut by the Federal Reserve (US central bank) this year. While the dollar reached its highest levels in six weeks against …
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2 April 2024 1:08 pm
Gold is hovering near an all-time high as dollar consolidates
Gold prices on Tuesday hovered below the record level they reached in the previous session, with the dollar and Treasury bond yields remaining steady after robust US data raised doubts about whether the Federal Reserve (US central bank) would cut interest rates three times this year. By 0624 GMT, gold …
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2 April 2024 12:41 pm
Nikkei closed higher despite profit-taking and risks associated with the yen
Japan’s Nikkei index closed higher on Tuesday, briefly surpassing the 40,000-point mark before some gains were trimmed by profit-taking and concerns about potential intervention by Japanese authorities to stabilize the yen. The Nikkei index ended Tuesday’s session up 0.1 percent at 39,838.91 points. Although the index has risen approximately 19 …
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2 April 2024 10:34 am
Oil rises thanks to upbeat manufacturing data and rising tensions in the Middle East
Oil prices rose in early Asian trading on Tuesday, buoyed by signs of improving demand and escalating tensions in the Middle East, which pushed US futures to their highest level in five months in the previous session. Brent crude futures for June delivery climbed 37 cents to $87.79 a barrel …
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2 April 2024 5:08 am
Market Drivers; US Session, April 1
With some major markets closed on Easter Monday, the US dollar is the clear winner as of late Monday. As the day began, most attention was on growth-related data, with China releasing positive manufacturing production data for March. Still, the news was insufficient to keep investors upbeat.The news on Friday …
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2 April 2024 3:41 am
Will Consumer Spending Likely Stop Fed’s Rate Cuts?
Federal Reserve’s officials and policymakers are surely thinking about cutting interest rates, but one important question is yet unanswered: how will consumer spending patterns affect this choice? Generally speaking; higher interest rates would cause consumers and corporations to reduce their expenditure. Stock prices will retreat as a result, and earnings …
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2 April 2024 2:50 am
RBA’s Kent: No change to current rundown of balance sheet
Assistant Governor Christopher Kent of the Reserve Bank of Australia stated on Monday that retaining bonds till maturity has no effect on the present balance sheet breakdown. At the time of writing, the AUD/USD pair is trading at 0.6490, up 0.02% on the day.Key Quotes“The outlook for inflation and monetary …
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2 April 2024 1:33 am
US stocks close mixed, yields rise to start second quarter trading
The second quarter of 2024 began with mixed closing results for US stocks, with the Dow Jones Industrial Average down 0.6% and the S&P 500 down 0.2%. Although it was off its early session highs, the tech-heavy Nasdaq Composite ended the day marginally higher. As the benchmark 10-year Treasury yield …
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2 April 2024 12:04 am
Gold trades higher despite robust US manufacturing data
The market is supported by optimistic reports on US manufacturing growth in the United States, however, the price of gold slightly rises. The attraction of non-yielding gold is called into question by the increase in US Treasury yields that followed upbeat news from the ISM and S&P Global.Gold’s rising trajectory …
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1 April 2024 10:43 pm
GBP/USD Falls Following US Manufacturing Data
Strong US manufacturing activity and pricing pressures have caused the GBP/USD to decline, which may feed concerns of a sustained Fed policy. Due to holiday closures, the US economy is resilient while European markets are quiet. The GBP/USD exchange rate may be weighed down by upcoming UK PMI data releases, …
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