The US dollar is modestly up amid higher US yields ahead of Fed’s meeting his week and key economic data. Equities and crude oil prices are able to trim previous losses during the US session.The pair is trading at 1.3362 at the time of typing. So far, the USD/CAD pair …
Read More »Noor Capital | Interview with Mohammed Hashad on Dubai TV – January 30, 2023
Interviewed on Dubai TV on Monday, Mohammed Hashad, Head of Research and Development at Noor Capital and a member of the American Association of Technical Analysts, commented on the most important developments in the global financial markets on the first day of trading week, and most notably: oil Oil is …
Read More »Gold is locked in a relatively narrow range
Gold prices moved in a relatively narrow range on Monday as investors around the world turned their attention to a series of central bank meetings, with particular focus on the Federal Reserve meeting. Spot gold rose 0.2 percent to $1,931.07 an ounce by 0717 GMT. US gold futures rose 0.1 …
Read More »Financial Markets’ Weekly Recap, January 23-27
The US Dollar Index began the trading week down around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Fed startled investors away from the American currency which closed the week at 101.9.Oil Price ActionOn …
Read More »EUR/USD hovers around 1.0860s as Fed, ECB decisions eyed
The EUR/USD encountered rejection from the 1.0900 psychological barrier for the second day in a row. On Friday, the pair fell to the 1.08657 territory after US data boosted the expected 25 bps rate hike by the Fed next week. At the time of writing, the EUR/USD is trading at …
Read More »Wall Street closes higher with weekly gains as Fed’s decision eyed
US equities advanced on Friday, marking the end of trading week that was full of key economic data as well as earnings results signaling weakening demand but also economic flexibility with only a few days apart from Fed’s policy decision next week.All three major US stock indexes ended Friday’s US …
Read More »GBP/USD snaps two days of gains as FED, BoE policy decisions eyed
Even while US inflation is still twice what the Fed wants it to be, it is steadily weakening. Ahead of the Fed and BoE’s monetary policy decisions next week, the GBP/USD pair is moving sideways.The possibility of minor rate hike by the US Federal Reserve increased as a result of …
Read More »Gold fell amid expectations that Fed will stick to raising interest rates
Gold prices fell on Friday, as markets viewed strong US economic data as an impetus for the Federal Reserve to keep interest rates high for a longer period, but caution before inflation data and the Monetary Policy Committee meeting next week limited gold’s decline. Spot gold fell 0.2% to $1,926.09 …
Read More »US Core PCE Preview: Forecasts from seven major banks
Markets expect core PCE inflation, which excludes volatile food and energy prices, to rise 0.3% on a monthly basis and forecast the annual rate to decline to 4.4% from 4.7% in November. If the awaited reading meets the said estimates, it would be the lowest since October 2021 but still …
Read More »US economy grows at an annual rate of 2.9% in Q4
The US economy expanded at an annualized rate of 2.9% in the fourth quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday. This reading followed the 3.2% growth recorded in the third quarter and came in slightly better than the market expectation for an expansion of …
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