Three monetary policymakers contributed their remarks and statements about the labour market, inflation and interest rate policy in the United States ahead of the PCE data that is expected on Friday.Federal Reserve Bank of Atlanta President Raphael Bostic noted on Thursday during an interview with Fox Business that the Atlanta …
Read More »Gold recovers following US GDP data
Gold is 0.26% up, trading at 2,343.18 per ounce at the time of writing. The precious metal‘s price has recovered after the US dollar weakens following the release of revised Q1 GDP data. The revised data suggests the US economy is not as strong as analysts had previously thought, potentially …
Read More »What role have T-yields recently played in US dollar’s, gold’s price action?
The US dollar continues to rise, up 0.42% at 105.057, amid the absence of US data on the economic calendar on Wednesday, on the back of the surging US Treasury bond yields, which have continued to rise since the beginning of trading this week.US Treasury bond yields continue to rise, …
Read More »Dollar Rises on Rate Cut Doubts, Surging Bond Yields
The U.S. dollar strengthened in early European trading on Wednesday, driven by growing expectations that the Federal Reserve will postpone interest rate cuts until later this year. This upward movement was also supported by rising U.S. Treasury yields, fueled by a lackluster debt auction. At 04:10 ET (08:10 GMT), the …
Read More »Oil Prices Climb on Anticipation of OPEC+ Production Cuts and Peak Summer Demand
Oil prices experienced a boost in Asian trading on Wednesday, fueled by expectations that major producers will maintain existing output cuts at their upcoming meeting and the anticipated rise in fuel consumption during the summer season. Brent crude futures for July delivery saw a modest increase of 18 cents (0.2%), …
Read More »3 factors behind soaring oil prices
Crude oil prices saw a noticeable surge, with the price of West Texas Intermediate crude exceeding the $80 per barrel barrier, Brent oil rose to more than $84.19 per barrel, while energy markets are closely watching recent developments in particular OPEC and its allies’ actions within the framework of OPEC …
Read More »Gold rises sharply despite Fed’s hawkishness
Despite pressure from high US Treasury yields, gold gains more than 0.30%. Governor Michelle Bowman and other Fed officials’ pessimistic comments restrain Gold’s ascent. The release of US core PCE inflation data is of interest to traders of XAU/USD. Late in the North American session, the price of gold saw …
Read More »Fed’s Kashkari does not rule out interest rate hikes
Speaking before the Barclays-CEPR International Monetary Policy Forum, Federal Reserve Bank of Minneapolis President Neel Kashkari said the US central bank’s policy stance is restrictive, but policymakers haven’t entirely ruled out additional interest-rate increases.“I don’t think anybody has totally taken rate increases off the table,” Kashkari said Tuesday at an …
Read More »Dollar Dips Amid Risk Sentiment, Awaits Inflation Data
The U.S. dollar experienced a slight dip in early European trading on Tuesday, attributed to a minor uptick in risk sentiment. However, trading ranges remained narrow as investors eagerly awaited the release of crucial inflation data. As of 04:25 ET (08:25 GMT), the Dollar Index, which measures the greenback against …
Read More »Gold Stabilizes as Inflation Data Takes Center Stage
Gold prices found their footing in Asian markets on Tuesday, buoyed by a slightly weaker dollar. Traders were on edge, awaiting a series of crucial inflation readings this week, particularly the U.S. Personal Consumption Expenditures (PCE) index. The precious metal managed to recover some of its losses from the previous …
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