Currency futures edged higher on Friday as the dollar pulled back after inflation fell. However, volatility was low as US markets were closed for the Good Friday holiday. Still, the US released its core PCE price index report, which revealed a drop in inflation from 0.5% to 0.3%. At the same time, consumer spending increased, Read More…
On Wednesday, oil prices broke below the previous session’s lows before closing with gains as supply worries continued. Moreover, oil was set to end the month with a 4.5% gain, marking the third consecutive bullish month. Notably, the oil market has grown tighter due to geopolitical tensions. All meetings to try and pause the Israel-Hamas Read More…
Gold prices rose Tuesday as rate-cut expectations rose ahead of crucial US inflation data. The price held near highs, marked last week after Powell’s dovish press conference. Moreover, there was increased demand as central banks continued to buy gold. Despite a small retreat, gold has held near recent highs. March has been a very good Read More…
Equities fell on Monday, pausing last week’s rally as investors assessed Fed remarks. The US stock market closed the previous week with gains after the Fed meeting where Powell maintained his dovish stance. Despite the recent hot inflation figures, Powell maintained his outlook for three rate cuts in 2024. However, economic data continues to beat Read More…
Currency futures fell on Friday as the global rate-cut outlook changed. Other central banks are becoming more dovish, leading to an increase in bets that cuts will start this year. Meanwhile, the outlook for Fed rate cuts remains uncertain as the economy remains robust and inflation persists. Notably, the Swiss National Bank opened the door Read More…
Interest futures ended Thursday mixed as positive data from the US pushed up Treasury yields and weighed on the bond market. Still, prices remained near Wednesday’s highs due to Powell’s reassurance on rate cuts. US initial jobless claims (Source: Labor Department) Data on Thursday revealed that the US economy remains robust despite higher interest rates. Read More…
Oil prices fell on Wednesday despite a draw in crude inventories and the Fed maintaining its rate-cut outlook. Moreover, investors remained worried about supply disruptions in Russia as the war continued. Oil prices rallied in the previous two sessions due to these supply concerns. Therefore, the pause on Wednesday could have been due to profit-taking. Read More…
Gold prices dropped on Tuesday amid a stronger dollar as markets awaited the Fed monetary policy meeting. A stronger dollar makes gold expensive for foreign buyers, hurting demand. The dollar strengthened amid speculation that the Fed would revert to its hawkish tone after inflation beat forecasts. Initially, gold had rallied to record highs after Powell Read More…
Equities closed Monday in the green after a rally in mega-cap stocks like Alphabet and Tesla. However, there was caution as investors looked forward to the FOMC policy meeting, which will affect rate cut expectations. The rally in mega-cap stocks came due to several factors. However, the main one was AI optimism. Notably, Nvidia soared Read More…
Currency futures closed lower on Friday as the dollar strengthened on more signs the US economy was resilient. Data released on Friday on the manufacturing sector revealed a strong economy that could allow the Federal Reserve to hold higher interest rates for longer. US factory production (Source: Federal Reserve) Data revealed a recovery in factory Read More…
