Financial markets were in a better mood on Tuesday, with global indexes managing to post gains, resulting in less demand for the safe-haven dollar.Hot inflation, tensions in Europe amid the Russian war on Ukraine and a rising number of coronavirus contagions, not only in China, anticipate a long road ahead …
Read More »FOMC Considers Aggressive Measures As Investors Await Rate Decision
The investors’ major focus point on Wednesday will be on the decision and press conference by the two-day Fed’s policy meeting, as financial markets expect the US central bank to press ahead with a rate hike and formally announce the launch of a much-anticipated balance sheet reduction.The Federal Open Market …
Read More »AUD/USD bulls await Fed’s decision
The AUD/USD pair stuck to a sideways drift on Tuesday following an initial spike on the back of a hawkish Reserve Bank of Australia. AUD/USD traded between 0.7150 highs and a low of 0.7080 in New York. The RBA surprises everyone with a 25bp move. Analysts at ANZ Bank explained, …
Read More »EUR/USD consolidates in choppy conditions ahead of the Fed
The EUR/USD pair is regaining some territory into the Wall Street close as the greenback continues to be faded, unable to break higher as traders start to move to the sidelines ahead of the Federal Reserve. In contrast to the expectations the Fed, however, the European Central Bank’s tightening expectations …
Read More »Banks, Megacaps drive Wall Street as Fed decision looms
Wall Street’s main indexes rose on Tuesday, as investors picked up shares of financials and beaten-down Megacap companies, while staying cautious about the Federal Reserve’s ability to tame inflation without impeding growth.Nine of the 11 major S&P 500 sectors rose, with energy (.SPNY) and financials (.SPSY) up 2.7% and 1.7%, …
Read More »Gold Traders Sidelined Ahead Of Fed Decisions
At $1,871.10, the gold price is firmer on Tuesday, rising from a low of $1,850.47 to a high of $1,878.14 so far. The price has upheld the bid in synch with a slight retreat in US Treasury yields and the US dollar ahead of this week’s Federal Reserve went.The US …
Read More »Market Drivers – US Session – Fri. 29 April
The week finished with prevalent negative market sentiment. US equities recorded hefty losses, between 2.77% and 4.17%. China’s coronavirus outbreak which has lasted for the last couple of weeks threatens to disrupt supply chains. The US central bank’s increasing rate hikes to tackle inflation and the Ukraine-Russia conflict, further entering …
Read More »Nasdaq retreats to worst low since 2008 crisis
US equities and stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic.The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after …
Read More »Could PCE Data Drive Looming Critical FOMC Meeting?
The Fed’s favorite inflation gauge slowed in March, in its first retreat in more than one year, according to a report issued Friday in the run-up to next week’s meeting of the policy-setting Federal Open Market Committee.PCE data gives a reading of the Personal Consumption Expenditures Price Index that excludes …
Read More »Gold above $1900, but falls from earlier highs on US data
Gold Prices continue to trade higher on Friday amid month-end US dollar weakness, with prices still above $1900. But XAU/USD has pulled back from earlier highs with US yields rallying in wake of the latest US data dump. Traders’ focus now has switched to next week’s Fed policy meeting, with …
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