US stocks were poised for a strong finish to the week on Friday, buoyed by the latest reading on the Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge. The data indicated that prices rose in line with expectations in July, easing concerns about persistently high inflation and …
Read More »Gold Prices Dip Slightly, Remain Near Record Highs as Markets Await U.S. Inflation Data
Gold prices saw a slight decline in Asian trade on Friday, though they remained close to record highs as investors awaited crucial U.S. inflation data that could provide further insight into the Federal Reserve’s interest rate outlook. Gold Prices Hold Strong Despite Slight Dip Spot gold edged down by 0.3% …
Read More »Gold Price Climbs Amid Fed Rate Cut Hopes
Gold prices have been on a steady ascent, buoyed by the anticipation of a potential Federal Reserve rate cut. Despite strong US economic data, the market remains optimistic about a policy shift that could benefit gold. The Economic ContextThe recent upward trajectory of gold prices is a testament to the …
Read More »Mixed PCE Inflation Data Could Create More Market Uncertainty
The US Personal Consumption Expenditure (PCE) Price Index, a key inflation gauge for the Federal Reserve, presented a mixed picture in June 2024.Headline PCE Eases, Core PCE Holds Steady:The headline PCE inflation rate, which includes both food and energy prices, came in slightly lower than expected for the second consecutive …
Read More »Gold Prices Climb in Asian Trade, Near Record Highs as Inflation Data Looms
Gold prices rose in Asian trading on Thursday, edging closer to record highs as the U.S. dollar’s rebound cooled ahead of key inflation data. The yellow metal also benefited from safe haven demand, which was bolstered by disappointing earnings from NVIDIA Corporation (NASDAQ:NVDA) that shook global equity markets. Gold Holds …
Read More »Fed’s Bostic: Inflation has more room to decline
Federal Reserve Bank of Atlanta President Bostic has stated that inflation still has further to fall. He emphasized the need for the central bank to wait for additional data before considering interest rate cuts.Bostic expressed confidence in the solid state of employment, despite the historical context. He stressed the importance …
Read More »Gold Prices Slip as Stronger Dollar and Inflation Uncertainty Weigh on Markets
Gold prices fell on Wednesday, pressured by a stronger U.S. dollar and growing uncertainty ahead of a crucial U.S. inflation report that could influence the Federal Reserve’s decisions at its September policy meeting. Gold Slips But Holds Key Level Spot gold dropped 0.6% to $2,510.39 an ounce by 0953 GMT, …
Read More »US bond yields continue to rise
US Treasury yields have continued to climb since the open, driven by market optimism following a series of positive economic data releases. Additionally, markets are eagerly awaiting the release of the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) price index, later this week. The yield on the …
Read More »USDJPY is decoupling from US Treasury yields
USDJPY has broken its traditional inverse correlation with US Treasury yields, driven by a decline in the US dollar following the Federal Reserve’s meeting and Chairman Jerome Powell’s remarks at the Jackson Hole symposium. Powell’s comments hinted at a potential interest rate cut in September, a prospect further reinforced by …
Read More »Euro weathered the storm of negative data
Euro has shown resilience despite weaker-than-expected German economic data released on Tuesday. This data highlighted a deterioration in consumer confidence within the Eurozone. The German GfK consumer confidence index fell to -22.0 in September, compared to -18.6 in August, reflecting growing pessimism among European consumers about the economic outlook. Additionally, …
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