On Thursday, gold stabilized after a four-session decline as investors prepared for the upcoming US non-farm payroll data. This report could impact the Federal Reserve’s interest-rate decisions. Jim Wyckoff, senior analyst at Kitco Metals, mentioned the need for a fresh spark in the gold market to start a rally. According to Wyckoff, stronger jobs data Read More…
On Wednesday, oil prices rose approximately 3% due to a disruption at Libya’s primary oilfield. This incident heightened concerns about potential disruptions in global oil supplies. Moreover, there were escalating tensions in the Middle East. Oil rose for the first time in five days, marking the most significant daily percentage gain for WTI since mid-November. Read More…
Equities in Europe and Wall Street dropped on Tuesday, accompanied by a decline in US government debt. This drop reflects reduced market optimism regarding prompt Fed interest rate cuts. Equities and bonds (Source: Bloomberg) Meanwhile, the dollar surged against major currencies as the yield on the 10-year Treasury note increased. This also signaled reduced expectations Read More…
US equities ended Friday slightly lower, closing a solid year-end rally as investors anticipated Fed rate cuts in the year ahead. S&P 500 weekly performance (Source: Bloomberg) Equities have risen strongly in the last months of the year. The S&P 500, the Dow, and the Nasdaq recorded nine consecutive weeks of gains. For the S&P Read More…
Gold prices rose on Thursday as US economic data heightened expectations of a Federal Reserve interest rate cut in March next year. Data revealed a 4.9% annualized growth in US gross domestic product for the last quarter, a revision from the initially reported 5.2%. Moreover, there was a slight increase in weekly jobless claims. Spot Read More…
On Wednesday, oil prices settled slightly higher amid concerns over global trade disruption. There were attacks on ships in the Red Sea by Yemen’s Iran-aligned Houthi forces. Meanwhile, a surprise US crude inventory build, larger-than-expected fuel stock gains, and record domestic oil production limited price gains. The US Energy Information Administration reported increases in US Read More…
On Tuesday, US equities continued their rally, propelled by the Federal Reserve’s recent dovish policy shift. All three major US stock indexes gained, pushing the S&P 500 close to its January 2022 all-time closing high. If the S&P 500 goes above this level, it would confirm a bull market since its low hit in October Read More…
On Monday, US equities rose as investors anticipated interest rate cuts by the Federal Reserve next year. The S&P 500 and Nasdaq recorded solid gains, while the Dow remained flat. Tom Hainlin, national investment strategist at US Bank Wealth Management, noted that the market expected the Fed to cut interest rates next year. This is Read More…
On Friday, currency futures pulled back from recent highs as Federal Reserve Bank of New York President John Williams opposed market expectations for a rate cut. At the same time, the dollar strengthened. However, it still had its worst weekly performance in a month. Dollar risk reversal (Source: Bloomberg) The dollar’s decline last week followed Read More…
On Thursday, gold prices reached a 10-day high after the Fed indicated that it was done with rate hikes and looking at the possibility of rate cuts. The Fed’s dovish shift, communicated during Wednesday’s FOMC meeting, led to expectations of more aggressive rate cuts. The market responded positively, boosting gold prices. Demand for gold went Read More…
