On Thursday, gold prices surged above the crucial $2,000 barrier once more as the dollar and Treasury yields declined. Weak US economic data supported the argument for the Federal Reserve to stop raising interest rates. A different data set revealed fewer existing house sales and significantly lower-than-expected factory activity in the mid-Atlantic region. At the Read More…
Oil prices fell by almost 2% on Wednesday, hitting a two-week low on worries that Fed rate hikes in the United States, the world’s largest oil consumer, might reduce oil consumption. Europe’s persistently high inflation rate and China’s mixed economic indicators discouraged investors. China is the world’s largest consumer of crude oil. That was the Read More…
Equities in the US and Europe made some gains on Tuesday as the first-quarter earnings season started. The S&P 500 scraped out a tiny gain thanks to the resilience of a few large technology firms, which helped offset weaker-than-expected quarterly results from Johnson & Johnson and Goldman Sachs. Shares of healthcare firm J&J dropped 2.8% Read More…
US equities edged higher on Monday, buoyed by banking and industrial equities, as investors prepared for a busy week of corporate results. Federal Reserve officials’ remarks could also provide additional insight into the future direction of interest rates. Markets are assessing the state of corporate profits and the economy following several US banks’ impressive first-quarter Read More…
On Friday, currency futures fell as the dollar recovered from a one-year low after some March retail sales figures were not as weak as some economists had anticipated. A top Federal Reserve official cautioned that the US central bank must raise rates to reduce inflation. The dollar recovered from an initial decline when statistics revealed Read More…
On Thursday, gold rose when additional negative US data supported predictions of a pause in Fed rate hikes. There were also fears of a mild recession which sent investors scrambling for safe-haven assets. The dollar and Treasury yields fell after data revealed a slowing in the increase in producer prices last month and an increase Read More…
Oil prices rose by 2% on Wednesday, reaching their highest level in over a month. Cooling US inflation data raised optimism that the Federal Reserve would soon end its cycle of interest-rate hikes. This optimism Overshadowed a slight increase in US crude oil inventories. After increasing by 0.4% in February, the US Consumer Price Index Read More…
Wall Street equities closed flat on Tuesday as investors awaited inflation data and the unofficial start of the first-quarter reporting season. In the afternoon, stocks temporarily rose as Chicago Fed President Austan Goolsbee warned the Federal Reserve against raising rates too quickly to rein in inflation. Without market-moving variables, investors looked forward to the consumer Read More…
US equities recovered from large losses to end Monday flat as investors absorbed Friday’s jobs data and prepared for a busy week of inflation data and bank reports. The Labor Department released its March employment report on Friday, a market holiday, and it showed strong payroll growth and a welcome but minor slowdown in wage Read More…
Gold price (XAU/USD) is currently at $2007 early on Good Friday. The lack of liquidity due to the holiday and cautious sentiment ahead of the release of March US job data is causing XAU/USD to remain defensive. It is important to note that recession fears have affected gold prices, but the disappointing US dollar has Read More…
