Gold prices pulled back on Wednesday after reaching new highs in the previous session due to Fed rate cut optimism. Investors are preparing to peruse the FOMC meeting minutes and a Fed Chair Jerome Powell speech. Gold traders are optimistic that the Fed will start lowering borrowing costs in September. Last week, retail sales data Read More…
Equities rose on Monday, adding to last week’s gains as markets priced in a Fed rate cut at the September meeting. At the same time, risk appetite improved since data last week eased fears of a looming US recession. S&P 500 weekly performance (Source: Bloomberg) Equities closed the best week of the year on Friday, Read More…
Currency futures rose on Friday and Monday as the dollar retreated amid profit-taking. At the same time, the US currency fell at the end of the week as markets raised the chances of a 25 bps September Fed cut. On Thursday, the greenback had soared after sales data showed a robust economy. Last week, the Read More…
Interest futures plunged on Thursday as upbeat US economic data boosted risk appetite. At the same time, investors moved to price a lower likelihood of a 50-bps Fed rate cut at the September meeting. However, the move reversed on Friday as the probability of a 25-bps Fed cut rose. As US inflation data solidified bets Read More…
Oil prices fell nearly 1% on Wednesday due to increased demand worries after a bigger-than-expected increase in US crude inventories. However, the move reversed on Thursday as oil traders cheered a rise in Fed rate cut expectations. Data on Wednesday revealed that US crude inventories rose by 1.4 million barrels. It was the first increase Read More…
Gold prices eased slightly on Tuesday after making new highs on cooler-than-expected US wholesale inflation data. The pullback came as investors took profits after a three-session rally and continued into Wednesday. However, experts believe fundamentals support further upside for prices. Notably, gold prices have rallied since Thursday last week as recession fears eased. The turmoil Read More…
