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…
Despite larger-than-expected draws in US crude and fuel stocks, oil prices remained mostly unchanged on Wednesday. The market weighed deteriorating economic outlooks against forecasts of US crude inventory declines and plans by OPEC+ producers to reduce production. According to government statistics, US crude inventories decreased by 3.7 million barrels last week, which was about 1.5 Read More…
Tuesday saw a lower closing price for US equities as signs of a slowing economy increased concerns that the Fed’s efforts to contain decades-high inflation may trigger a severe recession. All three main indices declined as data revealed factory orders dropped for a second consecutive month. Job openings in the United States went down to Read More…
US equities ended the day higher on Monday thanks to gains in energy stocks due to unexpected reductions in the OPEC+ group’s oil production targets. Tesla, however, fell after disappointing investors with its first-quarter electric vehicle deliveries. Tesla Inc. fell 6.1% after revealing that deliveries for the March quarter increased just 4% from the previous Read More…
Currency futures posted weekly gains on Friday as slowing US consumer spending growth raised expectations that the Federal Reserve would become less aggressive. According to a report by the US Commerce Department, personal consumption expenditure prices increased 5.0% in February compared to last year. It slowed from a 5.3% rise in January. A measure of Read More…
On Thursday, gold prices increased by almost 1% as demand for the precious metal increased due to a weaker dollar and lower bond yields. At the same time, investors awaited US inflation data to determine the Federal Reserve’s next move. The dollar index dipped 0.5%, making gold more attractive for foreign buyers, while benchmark 10-year Read More…
Oil edged lower on Wednesday in choppy trading as investors looked to cash in on gains from two straight days of gains. On the supply side, there were concerns about a shortage following an unexpected reduction in US oil inventories and the suspension of some oil exports from Iraqi Kurdistan. A smaller-than-expected output reduction in Read More…
