US markets were closed for the Presidents’ Day holiday, reducing volatility. The STOXX 600 in Europe increased by 0.1%. Investors are awaiting the core personal consumption expenditures index, the Fed’s favored inflation gauge. Global equities prices increased slightly on Monday during the London trading session as a US holiday dampened volatility ahead of the most Read More…
The US central bank will need to hike interest rates further to control inflation. Policymakers emphasized that there is still potential for ECB interest rates to rise. Investors are expecting the testimony of the newly appointed governor of the Bank of Japan. Currency futures ended Friday higher after hitting new lows on dollar strength. The Read More…
The greenback extended its gains, pushing precious metals lower. India’s January gold imports fell 76% from a year earlier. Peruvian miner Buenaventura resumed activities at its gold and silver Julcani mine. The greenback continued its bullish momentum on Thursday, resulting in bearish price action for commodities. Precious metals hit new lows after Cleveland Fed President Read More…
There are expectations of a strong recovery in gasoline consumption in top oil consumer China. China will make up over half of the increase in global oil consumption in 2023. US crude oil inventories went up by 16.3 million barrels last week. Oil prices increased in Thursday’s Asian session after facing a retreat on Wednesday. Read More…
The Fed’s war against inflation will likely continue as US consumer prices increase. Investors will keenly monitor January retail sales data for clues on consumer spending. Employment in the eurozone increased twice as quickly as predicted last quarter. The US consumer price data for January didn’t change much about what people thought the Federal Reserve Read More…
US inflation data may provide insight into the trajectory of the Fed’s upcoming interest rate hikes. 69% of the S&P 500 companies that have released results thus far have surpassed profit projections. India announced that it aims to triple its annual defense exports to $5 billion by 2024/25. US equities closed substantially higher on Monday Read More…
Investors increased their bets on the Fed maintaining its aggressive policy for longer. ECB’s Visco said on Saturday that the ECB must refrain from aggressive hikes. The British economy contracted in the last quarter of 2022. During an earlier London session trading on Monday, investors increased their bets on the Federal Reserve’s plan to maintain Read More…
Gold prices maintain a broadly bearish bias on Friday. Investors are uneasy over lingering worries about the US economy. More Americans filed new unemployment benefit claims last week. Gold prices rose sharply from the daily lows of $1,852, hitting the daily highs of around $1,875 during the early hours of trading on Friday. However, Read More…
There are worries about slowing American demand in the wake of record-high crude stocks. So far this week, oil has increased by more than 6%. US crude oil stocks went up last week to their highest level since June 2021. On Thursday, oil prices found it difficult to gain traction as hopes for improving Chinese Read More…
Less aggressive than anticipated remarks from Fed Chair Powell that boosted sentiment. Powell stated that Friday’s surprise jobs report could mean more time in the fight against inflation. Markets are now pricing in a terminal Fed rate above 5% in June. Equities rose in late New York session on Tuesday while the dollar fell following Read More…
