The core Personal Consumption Expenditures Price Index would increase by 0.1% in November, signifying a 3.3% increase from the previous year according to market estimates. Policymakers should take heart from this since it provides a steadier picture of pricing pressures by removing unpredictable prices for food and petrol.A 3.3% reading …
Read More »AUD/USD benefits from softer US dollar following US GDP data
The AUD/USD pair experienced an upward spike of 0.70% as it rose towards the 0.6775 level. The US’s Q3 GDP growth was lowered down from 5.2% to 4.9%, reflecting a slower-than-expected rate of economic activity.The US dollar was under further pressure after the 5-year and 10-year US Treasury rates fell …
Read More »Market Drivers – US Session, December 20
The US Dollar rose on Wednesday, supported by US economic data and a slight deterioration in market sentiment as well as hawkish remarks by Fed’s Patrick Harker on the rate policy outlook.Holiday-linked rally was paused, with Wall Street’s main indexes about to end a five-day positive streak on profit taking. …
Read More »Treasury yields hits lowest since July
The 10-year US Treasury yield hit its lowest level since July as traders assessed the Federal Reserve’s future rate cuts. The yield on the benchmark 10-year Treasury note was last down around 2 basis points to 3.901%, its lowest level since July 27 when the 10-year yield was as low …
Read More »US CB Consumer Confidence Index Beats Expectations
The US CB Consumer Confidence Index rose to 110.7 in December, indicating a significant improvement in consumer sentiment. The report also revealed that the Present Situation Index rose to 148.5, and the Consumer Expectations Index advanced to 85.6. The one-year consumer inflation rate expectation edged lower to 5.6%. The US …
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 »Gold eyes extending gains above $2,050.00
As of writing, the price of gold has surged by 0.55% to $2,038.16 per ounce. The yield on the 10-year US Treasury note is at its lowest level since July as interest rates continue to decline. The US Core Personal Consumption Expenditures (PCE) Price Index is still the major focus. …
Read More »Gold is confined to a narrow range with focus on US inflation data
Gold prices fell in limited trading on Tuesday as investors awaited more US economic data this week that may shed light on the Federal Reserve’s monetary policy outlook. By 0535 GMT, gold in spot transactions fell 0.1 percent to $2,024.49 per ounce. US gold futures also fell 0.1 percent to …
Read More »Market Drivers – US Session, December 17
The US Dollar Index ended Monday’s quiet session unchanged at 102.60. US 10-year yield increased slightly, but it remained below 4%. Wall Street saw increases in stocks, as the Dow Jones hit a new all-time high.Despite rising yields, gold only slightly increased and fell short of regaining $2,030. XAU/USD is …
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