Gold prices tumbled on Thursday as investors evaluated recent US economic data and awaited a crucial inflation report. They also closely watched Washington to see if US lawmakers could prevent a government shutdown. Gold also struggled due to soaring Treasury yields, which hovered near their highest levels in 16 years. This rise followed the Federal Read More…
Oil prices jumped 3% on Wednesday to the highest closing price in 2023 after a steep drop in US crude inventories increased fears of tight global supplies. According to government data, US crude inventories dropped by 2.2 million barrels to 416.3 million last week. The figure beat the 320,000-barrel drop forecast by analysts in a Read More…
On Tuesday, US equities declined by more than 1% as 10-year Treasury yields maintained their multi-year highs. Investors grappled with the possibility of prolonged high interest rates and the resulting economic consequences. US Treasury Yields (Source: Bloomberg) Amid rising Treasury yields, the Dow experienced its most significant one-day percentage drop since March, and all three Read More…
US equities gained ground on Monday as Amazon.com shares and the energy sector saw increases. Treasury yields continued to rise. Investors await economic data and Federal Reserve policymakers’ statements for clarity on interest rates later in the week. US long-end Treasury Yields (Source: Bloomberg) Investors are contending with benchmark Treasury yields reaching 16-year highs. This Read More…
Currency futures fell against the dollar on Friday amid signs of the United States’ superior economic position compared to other major economies. US business activity (Source: S&P Global) S&P Global reported a slight decrease in its flash US Composite PMI index for September, dropping from August’s final reading of 50.2 to 50.1. Still, September’s result Read More…
On Thursday, gold continued its decline for the third consecutive session. This decline was due to a rally in the dollar and treasury yields following a warning from the US Federal Reserve about a potential rate hike. While the Fed kept interest rates unchanged on Wednesday, its updated quarterly projections indicated the possibility of another Read More…
