Gold is trading around $2035 per ounce at the time of writing. It is worth mentioning that the precious metal’s price previously surged more than 20% to a record high of $2135 in 2023. Economists and experts predict that gold’s upside will soon reach a ceiling. It is generally predicted …
Read More »US Existing Home Sales Unexpectedly Rise 0.8% In November
US existing home sales unexpectedly rose in November, to seasonally adjusted annual rate of 3.82 million units, ending five consecutive monthly decreases, according to the National Association of Realtors. Further gains could be limited by a chronic shortage of houses on the market. Home resales, accounting for a large portion …
Read More »Dollar continues to rise amid expectations of interest rate cuts
On Wednesday, the dollar sustained an upward trend against a basket of peer currencies as traders assessed the possibility of the Federal Reserve implementing interest rate cuts. According to the CME Group’s FedWatch tool, investors are indicating a 69 percent probability of a rate cut occurring during the Federal Open …
Read More »Japan’s Nikkei index closes at its highest level in 5 months
Japan’s Nikkei closed at its highest level in more than five months on Wednesday, reaching 33,675.94 points, marking the highest closing level since July 3. The index rose by 1.37 percent. The broader Topix index also experienced gains, rising by 0.67 percent to reach 2,349.38 points. Investor caution over the …
Read More »Dow extends winning streak as S&P 500 approaches record gain
Dow Jones and S&P 500 closed higher on Tuesday, with all three major averages on track to finish December with gains. S&P 500 is up 4.4% for the month and comes off its longest weekly winning streak since 2017. Dow and Nasdaq are up 4.5% and 5.5%, respectively. S&P 500 …
Read More »Explainer: Short-Dated Debt Becoming More Attratctive On Wall Street
The Treasury market is focusing on short-term debt with a 4%-plus yield as the Fed gears up to lower rates and support a soft landing. This sentiment is driven by the belief that the economy may avoid a recession and investors’ lack of appetite for longer-term securities. The two-year Treasury …
Read More »How do US dollar, oil price react to current Red Sea tensions?
The United States launched Operation Prosperity Guardian, a multilateral naval operation involving the United Kingdom, Canada, France, Bahrain, Norway, and Spain. Oil tycoon BP has temporarily stopped shipping any crude along the route; rival energy tycoon Shell has not yet responded.Oil PricesAttacks on commercial ships in the Red Sea have …
Read More »Fed’s Barkin: Fed will respond if inflation comes down as expected
Thomas Barkin, the president of Richmond Federal Reserve Bank, stated that the Federal Reserve would “act appropriately” if inflation declines as anticipated in a Tuesday interview with Yahoo Finance.In the wake of these remarks, the US dollar finds it difficult to find demand. The US Dollar Index was down 0.35% …
Read More »Goldman Sachs: The disruption of energy flows in the Red Sea will not greatly affect oil prices
Goldman Sachs said the disruption to energy flows in the Red Sea would likely not have a major impact on crude oil and liquefied natural gas prices, as opportunities to reroute ships meant production should not be directly affected. Oil prices rose on Tuesday, continuing the gains they achieved in …
Read More »Japanese stocks rise and the yen falls as the central bank maintains an ultra-loose policy
Japan’s Nikkei rose and the yen fell on Tuesday after the Bank of Japan kept its ultra-loose monetary policy unchanged and offered no hints of an early end to negative interest rates. The Nikkei rose 1.41 percent to end Tuesday at 33,219.39. The broader Topix index compensated for an early …
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