The earnings season kicked off with a slow start, with the KBW Bank stock index experiencing a 3.1% decline and the 10-year Treasury yield dropping from 4.1% to 3.9%. The Magnificent 7 led the rally with a 4.3% gain, while the equal-weighted S&P 500 saw a 0.3% increase. Investors were …
Read More »GBP/USD edges higher ahead of key UK GDP, US PPI data
The Bank of England may be facing a deadline for its first rate decrease because of a possible faster pace of decline in inflation, which is why the GBP/USD pair is trading strongly for the third day in a row. The US CPI inflation data could put the Federal Reserve’s …
Read More »Fed’s Mester: March probably too early for rate cut
The rocky path of getting inflation back to the US Federal Reserve’s 2% target rate reflected in the latest Consumer Price Index (CPI) figures means that it would likely be too soon for the central bank to cut its policy rate in March, Cleveland Fed President Loretta Mester said on …
Read More »AUD/USD declines after US CPI data
The AUD/USD saw a loss of 0.30% and dropped below the 0.6700 mark. Declining US CPI in December reduced dovish Fed bets. The pair’s downside is constrained because there is a good chance the Fed will lower rates in March.On Thursday, the Australian dollar declined in value relative to the …
Read More »US stocks higher ahead of US inflation data
US stocks closed higher on Wednesday, with the Dow Jones Index rising over 150 points. The S&P 500 gained 0.57% to end at 4,783.45, while the Dow Jones industrial average added 170.57 points to close at 37,695.73. The Nasdaq Composite advanced 0.75% to settle at 14,969.65. Intuitive Surgical and Lennar …
Read More »Treasury yields decline ahead of CPI data
While financial markets gear up for a relatively busy year, there persists a state of severe disagreement about the forces driving longer-term interest rates.The range of forecasts for the yield on the 10-year Treasury one year from now is below 3% to above 5%. The yield outlook is mostly dependent …
Read More »Gold Prices Rebound from Three-Week Low
On Tuesday, gold prices rebounded from a three-week low, finding support in a weakening dollar following an official US report indicating that consumers anticipate lower inflation. The prospect of a Federal Reserve interest rate cut fueled optimism in the precious metal market. Gold experienced an immediate uptick of 0.2 percent, …
Read More »Gold fell with the rise of USD, focus on US inflation data
Gold prices experienced a decline on Monday as expectations of an early US interest rate cut diminished, leading to a strengthening dollar and higher Treasury yields. As investors awaited crucial inflation data later in the week, the precious metal faced headwinds. As of 0556 GMT, the spot price of gold …
Read More »How has US dollar reacted to NFP data?
The Dollar Index is currently trading just above 102.00, showing a downtick of 0.30% due to the markets adjusting dovish bets post the release of December’s Nonfarm Payrolls (NFP) and the ISM PMIs. Earlier on Friday, the dollar experienced a strong reaction to the recent NFP report in the United …
Read More »Gold is heading for its first weekly decline in a month
Gold is poised to register its first weekly decline in a month on Friday, succumbing to the strengthening dollar fueled by diminishing expectations of an imminent interest rate cut in the United States. Investors are eagerly anticipating a pivotal employment report scheduled for later in the day, hoping for additional …
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