The US labor market remains tight with high demand for workers. US Manufacturing PMI came in above 50 in August, showing steady growth. Analysts expect the US dollar to keep rising, meaning lower prices for gold futures. Gold (GC) futures prices continued to decline as the US dollar strengthened ahead of important payroll data anticipated Read More…
OPEC output has increased significantly since the pandemic. China’s manufacturing activity contracted in August due to new COVID-19 restrictions. US crude stocks declined in the past week, showing increased demand in the US. Early Asian trading on Thursday saw a decline in crude oil (CL) futures prices, driven by rising supply and concerns that the Read More…
Job openings in the US rose to 11.239 million in July. US Consumer confidence increases in August. Investors are expecting a 75bps rate hike from the FED in September. Following yesterday’s hold of support, E-mini Nasdaq-100 (NQ) futures opened the day in a positive frame of mind following Powell’s address at Jackson Hole last Friday. Read More…
Powell said the Federal Reserve would continue raising rates to tame inflation. Investors are split between a 50 and 75 basis point rate hike in September. This week’s jobs data will shine a light on the US economy. The E-mini S&P 500 (ES) futures closed Friday lower as the Federal Reserve’s chief, Jerome Powell, dashed Read More…
BoJ intends to maintain its ultra-loose monetary policy. BoJ will not intervene to stop the yen’s recent sharp declines. The Federal Reserve may continue to raise rates. The Japanese Yen (6J) futures continue to lose ground as one of the Bank of Japan’s board members stated that the central bank must continue its massive monetary Read More…
US PMI shows a significant decline in business activity in July. The US economy shrank by 0.6% in Q2, showing signs of a looming recession. Gold futures prices could fall further if Powell is hawkish during the Jackson Hole meeting. The latest Flash US Composite PMI from S&P Global is not encouraging for the American Read More…
