The US dollar suffered on Tuesday as Wall Street concluded with gains. The price of crude oil slightly declined while trading in narrow bands. Prices for commodities fluctuated, holding onto recent gains. The Middle East scenario is still a source of uncertainty.For the first time since August, the EUR/USD price …
Read More »Gold comfortably higher ahead of inflation data
Tuesday’s closing for gold is comfortably higher than Friday’s close, and even more gains may be in store for the precious metal so long as geopolitical risks are high and the dollar continues to see additional selling pressure. Risk-on mood has had an impact on gold prices, but the gap …
Read More »Market Drivers – US Session, October 09
The Middle East is a key focus for markets this week, with the Australian Westpac Consumer Confidence Index and the NAB Business Conditions survey due in the Asian session. The US CPI is expected to be the key report on Thursday. The US Dollar Index experienced a modest decline near …
Read More »Financial Markets’ Weekly Recap, October 2-6
Following a significant spike in T-bond yields, the market has momentarily stabilized, but Americans continue to borrow heavily despite Fed Chair Jerome Powell’s 18-month efforts to alter their borrowing and spending habit.Middle East tensions could boost gold, US dollarTensions in Palestine are causing investors to seek safe-haven assets and monitor …
Read More »Australia’s inflation for August expected to rebound
The Australian monthly Consumer Price Index is expected to rise 5.2% YoY in August, marking the first reacceleration since April. This could be crucial for the Australian Dollar (AUD) and the Reserve Bank of Australia (RBA), which will hold its October monetary policy meeting next week.Inflation in Australia peaked in …
Read More »Japan: National CPI eases to 3.2% YoY in August versus 3.3% prior
According to the latest data released by the Japan Statistics Bureau on Friday, the National Consumer Price Index (CPI) for August came in at 3.2% YoY from 3.3% in July. Further details unveil that the National CPI ex Fresh Food improved from 3.0% in July to 3.1% in August, whereas …
Read More »Market Drivers – US Session, September 18
The US Dollar modestly declined but remained above 105.00 on a calm week start. It marked the first daily loss after nine consecutive days of gains. This correction has taken place during quiet trading circumstances as markets await key central bank meetings. On Wall Street, stocks opened the week with …
Read More »Market Drivers – US Session, September 13, 2023
The dollar index rose on Wednesday after US economic data showed inflation increased for August, but did little to change expectations for the path of rate hikes from the Federal Reserve. The consumer price index increased by 0.6% last month, the largest gain since June 2022, as gasoline prices jumped. …
Read More »Bitcoin price rests above $26,200 following key CPI print
The US headline Consumer Price Index (CPI) rose by 3.7% yearly in August, exceeding expectations, and core CPI annual inflation came in at 4.3%, in line with forecasts. Bitcoin price hovers above $26,200, with most of the crypto market noting a minor decline. The larger-than-expected rebound in prices leaves room …
Read More »US dollar benefits from CPI print
The US dollar has moved into positive territory following Wednesday’s CPI reading, confirming another Fed rate increase. This week, the US Dollar Index turns green and is in positive territory; as the US Dollar Index is recording 104.730 at the time of writing Traders are seeking direction as they interpret …
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