On Monday, oil prices rose due to expectations that OPEC+ would maintain limited supplies and speculations of a halt to the aggressive interest rate hikes by the US Federal Reserve. US crude rally (Source: Nymex) Saudi Arabia led efforts to boost prices by implementing significant voluntary output cuts as part of the OPEC+ production agreement, Read More…
Currency futures fell on Friday after the US jobs report. The dollar rose against the euro and Japanese yen due to a robust August jobs report, despite some concerning signs. US payrolls (Source: Bureau of Labor Statistics) In August, employers added 187,000 jobs, beating the expected 170,000 increase. However, July’s data was revised downward to Read More…
Gold declined on Thursday, marking another month of losses. As-expected US inflation figures and weaker job data reinforced the anticipation that the Federal Reserve will maintain interest rates at their current levels throughout this year. The price of gold settled down by 0.36% at $1,965.9 per ounce, concluding the month with a 2.16% decrease, marking Read More…
Oil prices rose on Wednesday due to tighter-than-expected US crude supplies, although concerns about the Chinese economy tempered the gains. On Tuesday, oil benchmarks surged by over a dollar as the US dollar weakened, following soft jobs data. This report reduced the chances of further interest rate hikes. US crude inventories (Source: Bloomberg, EIA) On Read More…
US equities surged on Tuesday as Tesla, Nvidia, and other mega-cap growth stocks drove the rally following a decline in monthly job openings. The decline solidified expectations of the US Federal Reserve hitting a pause on interest rate hikes. The S&P 500 marked its most robust daily upswing since June 2, while the Nasdaq recorded Read More…
Equities rallied on Monday, driven by gains in 3M and Goldman Sachs. Moreover, the focus was on upcoming inflation and jobs data, pivotal for insights into the Federal Reserve’s interest rate trajectory. All three leading stock indices saw increases. Investors processed recent remarks from Fed Chair Jerome Powell, suggesting the need to raise interest rates Read More…
