Equities surged on Tuesday as US inflation data for October came in lower than expected. The data sparked investor confidence at the end of an era of interest rate hikes and the possibility of imminent reductions in borrowing costs. US inflation (Source: Bureau of Labor Statistics) Data revealed that US consumer prices remained steady in Read More…
On Monday, US equities closed slightly lower as investors anxiously awaited a crucial inflation reading that could influence the duration of high interest rates by the US Federal Reserve. Following a strong rally on Friday, attention shifted on Monday to the Consumer Price Index (CPI) data scheduled for release on Tuesday morning. US CPI (Source: Read More…
Currency futures closed Friday mixed as investors assessed remarks from Fed Chair Jerome Powell. The euro fell, while the yen weakened against the dollar. Powell indicated the possibility of another rate hike if inflation persists above the target. The yen held near a one-year low against the dollar, and investors remained cautious about a potential Read More…
Gold prices increased on Thursday despite Powell’s comments that interest rates may not be high enough to combat inflation. This increase might be because investors had already priced in Fed hawkishness earlier in the week. Some Fed officials are emphasizing the possibility of further rate hikes if inflation does not decline toward the 2% annual Read More…
On Wednesday, oil prices dropped over 2%, reaching their lowest point in over three months due to concerns about decreasing demand in the US and China. According to American Petroleum Institute figures, US crude oil stocks surged by almost 12 million barrels last week. If confirmed, this would be the largest build since February. The Read More…
On Tuesday, US equities surged amid a drop in US Treasury yields. The rally came as falling yields boosted megacap growth stocks. S&P 500 daily performance (Source: Bloomberg) Consequently, the S&P 500 and Nasdaq recorded their longest winning streak in two years. The benchmark 10-year Treasury note yield was set for its fifth decline in Read More…
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…
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…
