On Thursday, gold prices remained close to a three-week low due to concerns about higher-than-expected US economic data. This raised worries that US interest rates may remain elevated for longer, strengthening the dollar and bond yields. David Meger, director of metals trading at High Ridge Futures, commented, “We observed some inflationary data exceeding expectations, leading Read More…
On Wednesday, oil prices dropped after reaching a 10-month high earlier, as a surprise increase in US crude inventories countered expectations of limited crude supply for the rest of the year. The international benchmark, Brent futures, settled at $91.88 a barrel, sliding 18 cents. During the session, it hit its highest point since November at Read More…
US equities closed with losses on Tuesday as Oracle’s shares plunged over 13%, driven by a pessimistic forecast. Moreover, surging oil prices heightened concerns about persistent inflation pressures before critical inflation reports. Oracle’s shares plummeted to their lowest point since June. The cloud services provider projected the current-quarter revenue below expectations and narrowly missed first-quarter Read More…
On Monday, US equities rose, and the dollar retreated as investors awaited Wednesday’s inflation data. The technology-heavy Nasdaq led the US equities rally, gaining 1.1%. Gains in Tesla Inc. and Amazon.com boosted the market the most. The S&P 500 and the Dow also increased, with gains of 0.7% and 0.3%, respectively. The session seemed calm Read More…
Currency futures ended lower last week as the dollar index continued its winning streak for an eighth consecutive week. Bloomberg dollar index (Source: Bloomberg) This streak, the longest since 2014, came after recent data indicated the resilience of the US economy. The DXY remained almost unchanged at 105.08 for the day. Strong US economic data Read More…
Gold prices fell as US data strengthened, overshadowing the Fed’s expected pause. Brian Lan from Singapore dealer GoldSilver Central mentioned, “Market participants seek higher returns, and currently, the dollar appears attractive.” The dollar was heading for its longest weekly winning streak in nine years thanks to robust US economic data. This week’s data revealed a Read More…
