US stocks opened higher on Tuesday to start the last week of the year, as traders aimed to end 2023 on a strong note. The S&P 500 climbed 0.3%, and the Nasdaq Composite advanced 0.4%. The Dow Jones Industrial Average gained 100 points, or about 0.3%. Intel rose nearly 3% …
Read More »Dollar fluctuates in weak trading and Yen stabilizes
Amid the Christmas holiday, the dollar grapples with consolidation efforts against a backdrop of weakened trading. Signals of declining inflation in the largest economy, the United States, contribute to the dollar’s challenges, offering the Federal Reserve room for potential interest rate cuts in the upcoming year. Concurrently, the yen maintains …
Read More »Gold rises amid bets on lowering US interest rates
Gold prices rose on Tuesday during weak trading due to the Christmas holiday and in light of the decline in the dollar and bond yields due to growing expectations that the Federal Reserve (the US central bank) will cut interest rates in March. Gold in instant transactions rose 0.5 percent …
Read More »Gold price declines from $2070 highs amid market holidays
After touching the pre-holiday highs at $2070, gold retreats to around $2053 per ounce. Gold is being pressured higher by growing investor wagers on looming quicker, more frequent Fed rate cuts in the new year. US inflation is still down, and Treasury yields are easing as risk appetite surges.On Friday, …
Read More »How have US stocks performed amid Santa rally’s onset?
After five straight record closing, US stocks saw a slight decline; however, all three major US indexes ended the day down. Wall Street was expecting the Santa Rally to push markets to new heights as they finish 2023 on a high note. With a 24% increase so far this year, …
Read More »Japan’s Nikkei index closed higher amid expectations of a cut in interest rates
On Monday, Japan’s Nikkei index closed higher, buoyed by the prospect of interest rate reductions in the United States, which also contributed to gains in the Standard & Poor’s 500 and Nasdaq indices at the conclusion of the previous week’s trading. However, shares of shipping companies experienced a decline due …
Read More »Market Drivers – US Session, Dec. 22
The Dow Jones reached all-time highs, while US Treasury yields moved lower. The 10-year settlement was around 3.90%, the lowest since July. The US Dollar Index fell for the second week in a row, falling to monthly lows below 102.00. Market repricing expectations from the Fed in 2024 keep the …
Read More »Gold steadies above $2053 after flirting $2070 post PCE data
As of this writing, the price of the precious metal pulled back to about $2053 after briefly rallying up to flirt $2,070 before Friday’s pre-holiday closing. Gold is being pressured higher by growing investor bets on quicker, more frequent Fed rate cuts.US inflation is still down, and Treasury yields are …
Read More »Dollar strengthens its position slightly as US inflation data approaches
The dollar stabilized above its lowest level in over four months on Friday, with expectations centered on the release of crucial inflation data in the United States later in the day. This data may offer insights into the potential for the central bank to cut rates in the coming year. …
Read More »Gold is approaching a 3-week peak amid bets on lower interest rates
Gold prices surged on Friday to their highest levels in about three weeks as expectations grew that the Federal Reserve would cut interest rates early in the year. This move pushed the dollar and bond yields lower in anticipation of the upcoming US inflation data. As of 0513 GMT, spot …
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