Gold prices hovered above the $2,000 mark on Wednesday, as investors await the Federal Reserve’s decision on interest rates due later on Wednesday. Gold settled in spot transactions at $ 2016.29 an ounce by 0140 GMT, after rising by more than one percent in the previous session. US gold futures …
Read More »Gold approaches $2,020 on weaker US dollar, retreating T-yields
Gold unusually surged on Tuesday, ahead of the Fed’s interest rate release, amid expectations that the US central bank will raise the basic interest rate by 25 points, a rise that came due to the downside pressures on the US dollar.The decline in US yields, on Tuesday, boosted gold, which …
Read More »JOLTS Job Openings decline below expectations in March
JOLTS Job Openings in the US continued to decline in March. US Dollar Index holds above 102.00 in the American session.The data published by the US Bureau of Labor Statistics (BLS) revealed on Tuesday that the number of job openings on the last business day of March stood at 9.59 …
Read More »Gold prices stable amid caution ahead of Fed meeting
Gold prices stabilized on Tuesday, as traders cautiously await new signals from major central banks regarding their monetary policy plans, especially the US Federal Reserve. There was little change in gold in spot transactions, to record $1983.29 an ounce by 0528 GMT. US gold futures fell 0.1 percent to $1,991. …
Read More »Gold dips below $2000 on improved ISM report
Gold price dropped below $2000 on a report by the Institute for Supply Management (ISM), showing that manufacturing activity in the US improved. However, prices jumped compared to last month’s data, sparking speculation that the Federal Reserve (Fed) will tighten monetary conditions next Wednesday. The precious metal is trading between …
Read More »Market Drivers – US Session 04/04/2023 While gold has jumped, US treasury yields retreated, the US dollar was seen under pressure on Tuesday. The dollar is still under pressure ahead of more employment statistics, notably the NFP on Friday, as a result of weak US economic data. On Wednesday, the …
Read More »US: JOLTS Job Openings decline to 10.8 million in January
Job openings in the United States have declined marginally in January, meanwhile, the US Dollar Index continues to fluctuate within the daily range slightly above 105.50.So far, the dollar’s performance showed no immediate reaction to this report and was last seen trading virtually unchanged on the day at 105.700 at …
Read More »Market Drivers On Fed’s Day – US Session 01/02/2023
The US Dollar weakened after the US Fed’s monetary policy decision. The FOMC policymakers decided to hike rate by 25 basis points in line with wide expectations. The FOMC statement indicated that policymakers changed the wording on inflation, noting that it “has eased somewhat but remains elevated,” although there were …
Read More »JOLTS Job Openings little changed at 10.45 million in November
Job openings in the US marginally declined in November. The US Dollar Index stages a rebound in the American session and was last at 104.35, where it was still down 0.3% on the day. The data published by the US Bureau of Labour Statistics, on Wednesday, indicated that the number …
Read More »Market Drivers – US Session 30/11/2022
Overall, market sentiment fluctuated between optimism and concerns, as the US Dollar started the trading day with negative performance. The American currency managed to recover by mid-way, and finally fell closing in the red territory against its major rival currencies.US Dollar’s slump resulted from US Federal Reserve Chair Jerome Powell’s …
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