On Tuesday, US equities reached new yearly highs as the latest inflation figures had minimal impact on expectations regarding the Federal Reserve’s rate cut timing. US consumer inflation (Source: Bureau of Labor Statistics) The November Consumer Price Index (CPI) matched economist estimates with a 3.1% annual increase. At the same time, core prices, excluding volatile Read More…
On Monday, US equities gained modestly and closed at new yearly highs. This occurred ahead of key market events this week, including inflation readings and the Federal Reserve’s policy announcement. These events will strongly affect investors’ expectations of interest rates. Many market watchers now believe the central bank has completed its interest rate hike cycle Read More…
On Friday, the US dollar strengthened as new data revealed increased US job growth, pushing currency futures down. Moreover, there was a drop in the unemployment rate for November, indicating robustness in the labor market. US employment change (Source: Bureau of Labor Statistics) The Labor Department’s Bureau of Labor Statistics reported an addition of 199,000 Read More…
On Thursday, gold strengthened as the dollar weakened ahead of US non-farm payrolls data. Traders anticipated signs of a weaker labor market, increasing the likelihood of a Federal Reserve rate cut in March. Chris Gaffney, head of world markets at EverBank, warned that market expectations for interest rates had become too optimistic. He stated that Read More…
On Wednesday, oil prices dropped by almost 4%, reaching the lowest close since June. Concerns about global fuel demand increased following US data revealing a larger-than-expected increase in gasoline inventories. Prices were also impacted by worries about China’s economic health and future fuel demand, worsened by Moody’s downgrade of China’s A1 rating outlook from stable Read More…
Equities closed mixed on Tuesday after the US reported a big drop in job vacancies. As a result, investors increased their bets on a Fed rate cut in March. Job vacancies in the US have fallen to their lowest level since early 2021. US job openings (Source: Bureau of Labor Statistics) On Tuesday, the Labor Read More…
On Monday, US equities declined, breaking last week’s rally, as investors became cautious before this week’s employment data. The data could impact expectations of an early interest rate cut by the Federal Reserve next year. S&P 500 nearly overbought (Source: Bloomberg) The S&P 500 achieved its highest close of the year on Friday after Fed Read More…
On Friday, currency futures rose while the dollar declined after Federal Reserve Chair Jerome Powell expressed caution about further interest rate moves. Investors perceived Powell’s comments as dovish, anticipating that the Fed is done raising rates. Powell acknowledged that US monetary policy is slowing the economy, with the benchmark overnight interest rate in restrictive territory. Read More…
On Thursday, gold slipped but stayed on course for a second consecutive monthly gain due to expectations that the Federal Reserve might soon cut interest rates. This would make non-yielding bullion more attractive. Moreover, the rise of the dollar for the day contributed to the drop in gold prices. However, the dollar was on track Read More…
On Wednesday, oil prices surged over $1 per barrel as investors focused on potential supply cuts from OPEC+ and overlooked the increase in US crude, gasoline, and distillate stockpiles. Possible discussions for additional cuts from the OPEC+ group during Thursday’s policy meeting have boosted oil markets. Reports suggest a cut of up to 1 million Read More…
