On Monday, US equities inched higher as investors looked for guidance from various Federal Reserve policymakers later in the week regarding the central bank’s policy direction. S&P 500 weekly change (Source: Bloomberg) Last week, equities recorded their most significant weekly percentage gain in nearly a year due to a weaker-than-expected US payrolls report, which led Read More…
On Friday, currency futures rallied as the dollar dropped to a six-week low due to disappointing job creation data. The jobs report reinforced expectations that the Federal Reserve would likely keep interest rates stable at its December meeting. The greenback was down 1.4% for the week, marking its worst weekly performance since July. US employment Read More…
Introduction Equities surged last week as the Federal Reserve’s decision to hold interest rates steady in November marked the second consecutive meeting without a rate hike, following 11 hikes this year. Chair Powell stressed that while risks of undershooting or overshooting inflation targets have balanced out, no rate cuts are on the horizon. Markets don’t Read More…
On Thursday, gold prices remained relatively stable as the US dollar and Treasury yields declined amid expectations that the Federal Reserve might halt interest rate hikes. The dollar index slipped, and US 10-year note yields hit a three-week low, bolstering gold’s appeal. Bob Haberkorn from RJO Futures noted that gold was strengthening due to indications Read More…
Oil prices dropped by approximately 1% to reach a three-week low. This decrease came from a stronger US dollar and the US Federal Reserve maintaining interest rates while leaving the door open for potential rate hikes due to the robust US economy. Interest rate increases can hinder economic growth and reduce oil demand. Meanwhile, a Read More…
The Russell 2000 futures (RTY) have diverged strongly from major indices in 2023, with RTY down over 10% year-to-date while benchmarks like the S&P 500 post gains. RTY formed a symmetrical triangle consolidation pattern during most of 2022 that confined prices in a tight range. However, two weeks ago RTY broke decisively to the downside Read More…
US equities rose on Tuesday as investors awaited the Federal Reserve’s monetary policy update and processed mixed earnings reports. The Federal Reserve initiated a two-day monetary policy meeting. It is widely expected to maintain interest rates on Wednesday, with investors closely watching its statement and Fed Chair Jerome Powell’s comments for insights into their plans. Read More…
