Most currency futures rose on Friday as the dollar dropped due to Federal Reserve Chair Jerome Powell’s unexpected dovish stance. Contrary to market expectations, Powell stated that the US central bank might not need to raise interest rates as much, considering the tightening of credit conditions. Additionally, the dollar faced pressure from a pause in Read More…
On Thursday, gold prices collapsed as robust US economic data diminished expectations of the Federal Reserve easing. Additionally, gold fell as the greenback received a boost from the anticipation of a US debt ceiling agreement, averting a potential default. A stronger dollar makes for more expensive gold for foreign buyers. Negotiations between the White House Read More…
Oil prices rose by approximately $2 on Wednesday due to positive expectations regarding oil demand and ongoing negotiations regarding the US debt ceiling. Despite concerns about an oversupply, the optimism surrounding a potential debt ceiling agreement lifted various asset classes, including oil. Jim Ritterbusch, the president of Ritterbusch and Associates, stated that the anticipation of Read More…
US equities ended lower on Tuesday due to Home Depot’s disappointing forecast and weaker consumer spending indicated by April’s US retail sales data. There were also uncertainties surrounding interest rates and debt limit negotiations. Home Depot’s annual sales forecast reduction and larger-than-anticipated profit decline caused its shares to drop by 2.15%. This drop significantly affected Read More…
US equities closed slightly higher on Monday as the S&P 500 and Dow had modest gains. However, the New York Federal Reserve’s “Empire State” index, which measures manufacturing activity, fell sharply to -31.8 in May, much lower than the anticipated -3.75. This raised concerns about a possible slowdown in the US economy, which could decrease Read More…
Currency futures fell on Friday as the US dollar rose. The dollar experienced its largest weekly gain since February. This rise occurred as investors sought safe havens due to concerns about the US debt ceiling and monetary policy. According to the University of Michigan survey released on Friday, US consumer sentiment reached a six-month low Read More…
