The Gold Index, XAU/USD, advanced to $1,980 after hitting $1,995 earlier in the North American session.US housing data for October surprised to the positive side. Notably, the most recent spike in the price of precious metal was suppressed by hawkish Fed speakers and rising US yields.Gold saw a minor increase …
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Jeremy Hunt, the British Finance Minister, pledged on Friday not to take any action that would “hinder the battle against inflation” amid calls for more significant tax cuts from the right wing of the Conservative Party.“The UK economy has crossed a dangerous turning point in the recent period after the …
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Gold prices rose on Thursday, supported by expectations that the Federal Reserve has reached the end of its monetary tightening cycle, but a stronger dollar limited gains. Gold rose in spot transactions 0.1 percent to $1,961.81 per ounce by 0315 GMT, while US gold futures settled at $1,964.60. Matt Simpson, …
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The Japanese yen continues to retreat against the dollar since the beginning of daily trading on Wednesday, driven by the rise in US Treasury bond yields due to the famous correlation between both.The USD/JPY rose to 151.37, compared to the previous daily close of 150.37. The pair fell to its …
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The likelihood of a recession is one big question that is being discussed again and again as observers, including former Fed officials still argue that there is still an obvious risk of a recession.Jerome Powell and Co. are seen as walking on a fine line. The extent of fiscal stimulus, …
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The reco0very of gild price has stalled following the release of the key Retail Sales Data and the Producer Price Index (PPI) data. US Retail Sales data for October contracted at a slower pace of 0.1% against estimates of a 0.3% decline. The US monthly headline PPI contracted by 0.5%, …
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As softer US CPI data leads to a sharp decline in the US dollar, the GBP/USD pair has surged over 1.80% to trade around 1.2499, namely nearest the 1.2500 level, on the back of the recent US inflation data. October US inflation dropped the most in the last three months …
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Spot gold is trading at $1964.11 per ounce at the time of writing. Gold prices have surged in early US trading session, following a slightly tamer US inflation report. The consumer price index report for October came in at 3.2% year-on-year, falling into the camp of US monetary policy doves …
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The Euro is trading below the 1.0700 level against the US Dollar, with European stocks maintaining positive performance. US inflation figures are expected to drive market sentiment this week, as the Euro loses its initial shine against the USD. The dollar’s upward movement to the pivotal level of 106.00 has …
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The US dollar is mildly in green territory, with traders focusing on Tuesday and Wednesday as pivotal points this week. The Dollar Index is expected to make no significant moves with a light Monday calendar. The AUD/USD and the USD/SEK pairs are outliers gaining against the US dollar. Markets experience …
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