Gold prices rose 1% on Tuesday and extended these gains on Wednesday as investors hoped for rate cut signals from the Fed meeting. The rally in gold came despite positive US data highlighting the economy’s resilience. Gold traders eagerly await Wednesday’s FOMC meeting for direction on when the Fed might start cutting rates. Lower interest Read More…
Equities rose slightly on Monday and Tuesday as investors mostly stayed on the sidelines ahead of major events. Markets await key US data, major US tech earnings reports, and the Federal Reserve policy meeting. US earnings index (Source: Citigroup, Bloomberg) Monday was a choppy session for US stocks because investors held off on big positions. Read More…
Currency futures edged higher on Friday as the dollar eased after inflation data met expectations. Consequently, the markets are continuing to anticipate that the Federal Reserve will commence reducing borrowing rates in September. However, the markets were in turmoil as the new week started. The looming BoJ and BoE policy meetings and poor risk appetite Read More…
Interest futures rose on Thursday but closed well below session highs after a mixed US GDP report. Moreover, investors were gearing up for the core PCE price index report due on Friday for more clues on the outlook for Fed rate cuts. US economic growth (Source: Bureau of Economic Analysis) Data on Thursday revealed that Read More…
Oil prices rose on Wednesday, ending three sessions of declines. The increase came amid a bigger-than-expected draw in US crude and gasoline inventories. Prices remained close to a six-week low because of worries about global oil demand and a potential ceasefire in the Gaza conflict. Data on Wednesday revealed that crude stocks fell by 3.7 Read More…
Gold prices ended higher on Tuesday, rebounding ahead of more US economic data this week. At the same time, news that India, the second largest consumer of gold, cut import duties improved the demand outlook for gold, boosting prices. Gold traders eagerly await GDP and inflation data from the US, which will come later in Read More…
