Gold prices declined after a stronger-than-anticipated US private payrolls report, reaching a nearly one-week low on Thursday. The employment report boosted expectations for additional interest rate hikes by the Federal Reserve, resulting in higher Treasury yields. Despite concerns of a recession due to rising interest rates, the June data revealed a greater-than-expected increase in US Read More…
On Wednesday, US crude oil surged approximately 3%, narrowing the price difference with the global benchmark Brent. This was a response to the supply cuts announced by Saudi Arabia and Russia on Monday. Saudi Arabia, the largest crude exporter globally, declared an extension of its voluntary output reduction of 1 million barrels per day (bpd) Read More…
On Tuesday, European equities remained stable in low-volume trading due to the absence of fresh economic data from the region and uncertainty regarding global interest rates. Investors exercised caution as they assessed hawkish signals from central bankers alongside indications of slowing global growth. The pan-European STOXX 600 index closed slightly higher, increasing by 0.1% and Read More…
US equities closed the holiday-shortened session on Monday with slight gains, aided by a surge in Tesla stock and the strength of bank shares as the second half of the year began on a subdued note. Tesla’s shares soared by 6.9% after the electric vehicle manufacturer announced a record number of vehicle deliveries during the Read More…
On Friday, currency futures rose as the dollar decreased after gaining for two consecutive days. This drop resulted from economic data indicating decreased consumer spending, which raised doubts about the Federal Reserve’s aggressive approach to combating inflation. US PCE price index (Source: Bureau of Economic Analysis) According to the Commerce Department, consumer spending rose slightly Read More…
Gold rebounded on Thursday from a momentary drop below the $1,900 psychological level, which was triggered by a series of strong US economic readings. Following the release of the data, prices dipped below $1,900 for the first time since mid-March. This drop was supported by a 0.4% strengthening in the dollar index, which made gold Read More…
