On Thursday, gold prices collapsed as robust US economic data diminished expectations of the Federal Reserve easing. Additionally, gold fell as the greenback received a boost from the anticipation of a US debt ceiling agreement, averting a potential default. A stronger dollar makes for more expensive gold for foreign buyers. Negotiations between the White House Read More…
Oil prices rose by approximately $2 on Wednesday due to positive expectations regarding oil demand and ongoing negotiations regarding the US debt ceiling. Despite concerns about an oversupply, the optimism surrounding a potential debt ceiling agreement lifted various asset classes, including oil. Jim Ritterbusch, the president of Ritterbusch and Associates, stated that the anticipation of Read More…
US equities ended lower on Tuesday due to Home Depot’s disappointing forecast and weaker consumer spending indicated by April’s US retail sales data. There were also uncertainties surrounding interest rates and debt limit negotiations. Home Depot’s annual sales forecast reduction and larger-than-anticipated profit decline caused its shares to drop by 2.15%. This drop significantly affected Read More…
US equities closed slightly higher on Monday as the S&P 500 and Dow had modest gains. However, the New York Federal Reserve’s “Empire State” index, which measures manufacturing activity, fell sharply to -31.8 in May, much lower than the anticipated -3.75. This raised concerns about a possible slowdown in the US economy, which could decrease Read More…
Currency futures fell on Friday as the US dollar rose. The dollar experienced its largest weekly gain since February. This rise occurred as investors sought safe havens due to concerns about the US debt ceiling and monetary policy. According to the University of Michigan survey released on Friday, US consumer sentiment reached a six-month low Read More…
Gold prices fell on Thursday as investors preferred the dollar as a haven amid downbeat US economic data. Even though gold is considered a hedge against inflation and uncertainty, high-interest rates diminish the appeal of the non-yielding asset. Last week, there was a notable spike in the number of unemployed Americans filing new claims for Read More…
On Wednesday, oil prices fell by more than a dollar a barrel, ending a three-day rally. The drop came after economic data suggested that the US Federal Reserve may hike interest rates further. US consumer prices rose in April, potentially increasing the likelihood of higher interest rates. Global interest rate increases have worried traders about Read More…
US equities dipped on Tuesday as investors exercised increased caution in anticipation of the US consumer price index report. Investors were also awaiting a meeting between US political leaders to discuss the debt ceiling. The Labor Department’s consumer price index (CPI) report will come out on Wednesday, and investors will closely analyze it for any Read More…
The US equities rally paused on Monday as investors shifted their focus to a key inflation reading later in the week. Throughout the day, stocks struggled for direction due to disappointing earnings from Tyson Foods and Catalent and a short-lived rebound in regional banks. Catalent Inc’s shares tumbled as the contract drug manufacturer reported lower Read More…
Currency futures ended Friday mixed as the dollar rose after an upbeat jobs report. The dollar lost some of its gains made earlier versus the Euro but maintained its strength against the yen. April’s employment gains and wage growth exceeded economists’ expectations but revealed negative job revisions for March. The employment figures rose by 253,000, Read More…
