On Monday, US equities rose, and the dollar retreated as investors awaited Wednesday’s inflation data. The technology-heavy Nasdaq led the US equities rally, gaining 1.1%. Gains in Tesla Inc. and Amazon.com boosted the market the most. The S&P 500 and the Dow also increased, with gains of 0.7% and 0.3%, respectively. The session seemed calm Read More…
Currency futures ended lower last week as the dollar index continued its winning streak for an eighth consecutive week. Bloomberg dollar index (Source: Bloomberg) This streak, the longest since 2014, came after recent data indicated the resilience of the US economy. The DXY remained almost unchanged at 105.08 for the day. Strong US economic data Read More…
Gold prices fell as US data strengthened, overshadowing the Fed’s expected pause. Brian Lan from Singapore dealer GoldSilver Central mentioned, “Market participants seek higher returns, and currently, the dollar appears attractive.” The dollar was heading for its longest weekly winning streak in nine years thanks to robust US economic data. This week’s data revealed a Read More…
On Wednesday, US equities closed down, with the Nasdaq leading the decline with a 1% loss. This drop was driven by concerns that persistent inflation, fueled by stronger-than-expected services sector data, might lead to prolonged high interest rates. US services activity (Source: Institute for Supply Management) The Institute for Supply Management disclosed that its non-manufacturing Read More…
US equities ended Tuesday in the red. The Dow led the decline as Treasury yields climbed, along with oil prices as investors evaluated the Federal Reserve’s interest rate trajectory. Although all three primary US stock indices had seen gains the previous week, driven by hopes of a more lenient Fed stance, that optimism faded by Read More…
On Monday, oil prices rose due to expectations that OPEC+ would maintain limited supplies and speculations of a halt to the aggressive interest rate hikes by the US Federal Reserve. US crude rally (Source: Nymex) Saudi Arabia led efforts to boost prices by implementing significant voluntary output cuts as part of the OPEC+ production agreement, Read More…
Currency futures fell on Friday after the US jobs report. The dollar rose against the euro and Japanese yen due to a robust August jobs report, despite some concerning signs. US payrolls (Source: Bureau of Labor Statistics) In August, employers added 187,000 jobs, beating the expected 170,000 increase. However, July’s data was revised downward to Read More…
Gold declined on Thursday, marking another month of losses. As-expected US inflation figures and weaker job data reinforced the anticipation that the Federal Reserve will maintain interest rates at their current levels throughout this year. The price of gold settled down by 0.36% at $1,965.9 per ounce, concluding the month with a 2.16% decrease, marking Read More…
Oil prices rose on Wednesday due to tighter-than-expected US crude supplies, although concerns about the Chinese economy tempered the gains. On Tuesday, oil benchmarks surged by over a dollar as the US dollar weakened, following soft jobs data. This report reduced the chances of further interest rate hikes. US crude inventories (Source: Bloomberg, EIA) On Read More…
US equities surged on Tuesday as Tesla, Nvidia, and other mega-cap growth stocks drove the rally following a decline in monthly job openings. The decline solidified expectations of the US Federal Reserve hitting a pause on interest rate hikes. The S&P 500 marked its most robust daily upswing since June 2, while the Nasdaq recorded Read More…
