Gold rose for the third consecutive session on Thursday due to increasing Middle East tensions, driving up demand for safe-haven assets. Moreover, Federal Reserve Chair Jerome Powell’s comments fueled optimism that the US central bank might pause rate hikes. Meanwhile, Israel conducted more airstrikes on Gaza, with British Prime Minister Rishi Sunak echoing US President Read More…
Oil prices surged by approximately 2% to reach a two-week high on Wednesday. This increase was driven by a larger-than-expected drawdown in US oil storage and concerns about global oil supplies. During the week ending on October 13, US Energy Information Administration (EIA) reported that energy companies removed 4.5 million barrels of crude oil from Read More…
US equities ended mixed on Tuesday, with the Nasdaq closing lower, while the Dow and S&P 500 remained nearly unchanged. These moves were due to rising Treasury yields and a drop in the shares of chipmakers after the Biden administration announced it would halt shipments of advanced artificial intelligence chips to China. The Philadelphia SE Read More…
On Monday, US equities surged, driven by investor optimism for the start of earnings season. Moreover, transportation and small-cap shares gained, further boosting optimism. Still, investors remained cautious as Israeli forces continued to bombard Gaza, with cease-fire efforts failing and thousands, including many women and children, losing their lives. Global leaders are working to contain Read More…
Currency futures were on the back foot on Friday as the US dollar reached a one-week high amid expectations of Fed hawkishness. Robust US inflation data reinforced expectations that the Federal Reserve might need to maintain higher interest rates for longer. In September, the consumer price index (CPI) increased by 0.4%, keeping the annual rate Read More…
On Thursday, gold prices dropped as the dollar and Treasury yields rose. This followed higher-than-expected US consumer price increases in September, which raised concerns about the Federal Reserve maintaining elevated interest rates. US inflation (Source: Bureau of Labor Statistics) The Labor Department’s report released on Thursday revealed that the annual increase in consumer prices last Read More…
