“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 …
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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 …
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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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US stocks have significantly declined since the Israeli Air Force declared maximum alert and the army suspended vacations for combat forces due to concerns about the possibility of Iran launching attacks on Israeli territory, which brought back geopolitical tensions in the Middle East.Israeli Air Force raised its alert to the …
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On Thursday, the Euro gained versus the US dollar, but obstacles still exist. The poor US data, which included an unexpected increase in jobless claims and a widening trade deficit that raised questions about the real state of the US economy, helped the shared currency. Treasury yields dropped as a …
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Outsized price rises in the housing services industry is the most significant hurdle to the Federal Reserve reducing inflation to its 2% target rate according to Chicago Federal Reserve Bank President Austan Goolsbee.Key Quotes: “If housing inflation does not come down, would be very difficult to return inflation to 2%.”“I …
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On Thursday, the Nikkei index closed higher as investors seized the opportunity to buy stocks following a recent bout of profit-taking amidst the start of the new fiscal year. The Nikkei advanced by 0.81 percent at the close, reaching 39,773.14 points, after peaking during the session with a gain of …
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Gold prices rose to a record level on Thursday, amid Federal Reserve officials confirming their expectations to cut interest rates in 2024, in addition to anticipating job data in the United States. Gold settled in spot transactions at $2,299.28 per ounce by 0343 GMT, after rising to an unprecedented level …
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As Fed Chair Jerome Powell reaffirmed that the Fed will probably lower interest rates this year due to inflation’s “bumpy” downward trajectory, US markets saw minimal movement on Wednesday.While the Dow Jones Industrial Average decreased by around the same amount, the S&P 500 increased by roughly 0.1%. The major indices …
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The weaker US dollar and falling US Treasury yields have kept gold prices anchored around $2,300. Fed Chair Powell’s suggestion that rates might be lowered this year, if inflation keeps falling, helped the XAU/USD Index rise. US Data Lifts Gold Price Precious metals are rising even if ADP data shows …
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