Following two strong reports in January and February, it is expected that the consumer price index report for March will demonstrate a sustained slowdown in inflation. The core CPI is expected to increase by 3.4% year over year, according to consensus estimates. This would be somewhat less than the 3.8% …
Read More »Market Driers; US Session, April 8
The US dollar was under pressure throughout the week’s bearish start, but the risk complex was able to gather itself and US rates moved marginally higher across the curve. Ahead of the crucial US CPI, FOMC Minutes, and ECB event, traders continued to evaluate the most recent payroll prints. Amidst …
Read More »US Stocks Close Flat Ahead of CPI Data
At the end of a turbulent North American session on Monday, US equities remained mostly steady as a solar eclipse provided some diversion ahead of the key CPI inflation data and the start of the first-quarter earnings season. The Nasdaq opened a new tab and finished marginally up, while the …
Read More »Gold Rallies Ahead of CPI Data
Gold is up 0.50%, trading at $2341.29 per ounce at the time of writing. Earlier on Monday, gold’s jump to $2,354 has been tempered by evolving Fed rate cut expectations and a resilient US jobs report. Potential further upside for Gold is expected with forecasts reaching up to $2,500 in …
Read More »US Dollar Retreats Ahead of CPI Data
The US Dollar Index is currently trading at 104.15 with mild losses, as traders await the March CPI report on Wednesday. The Fed’s cautious stance is calibrated in light of incoming data, with hot labor market figures reported last week potentially justifying the delay of the easing cycle. The US …
Read More »Gold’s Record Surge Persists Amid Speculative Activity and Ongoing Middle East Tensions
Gold prices continued their relentless ascent on Monday, propelled by speculative activity and persistent tensions in the Middle East, which overshadowed the robust US jobs data released last week. In spot transactions, gold climbed 0.3 percent to $2,335.73 per ounce by 0646 GMT, after reaching a record high of $2,353.79 …
Read More »Financial Markets’ Weekly Recap: Jobs Data Renews Speculation on Interest Rate Path
The past trading week witnessed remarkable fluctuations coinciding with the beginning of the second quarter of the year 2024, as strong US economic data raised speculation about the ability of the US Federal Reserve to reduce interest rates and when it might make such a decision. The week concluded with …
Read More »Fed’s Logan: Too soon to consider cutting rates given upside risk to inflation
“I believe it’s much too soon to think about cutting interest rates,” Federal Reserve Bank of Dallas President Lorie Logan said on Friday, citing upside risks to inflation. The US Dollar Index clings to modest daily gains near 104.40 following these comments.Key Quotes “Need to see more of the uncertainty …
Read More »Nikkei index records worst weekly performance since December 2022
Oil prices continued their ascent on Friday, poised to mark a second consecutive week of gains, buoyed by geopolitical tensions in Europe and the Middle East, concerns over dwindling supplies, and optimism surrounding global fuel demand as economies recover. Brent crude surged by 49 cents, or 0.5 percent, reaching $91.14 …
Read More »Gold is taking a breath after a wave of record highs
Gold prices caught their breath today, Friday, after a wave of record highs that lasted for five sessions and led the yellow metal to record gains for the third week in a row. This comes at a time when the market is awaiting non-farm payrolls data in the United States, …
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