Interest futures fell on Thursday after a poor US GDP report. At the same time, downward pressure came from a rally in Treasury yields amid signs that US inflation remains high. Consequently, investors are keen to see the outcome of the core PCE price index report on Friday. US GDP, core PCE price index (Source: Read More…
Oil prices fell on Wednesday as investors shifted their focus from Middle East tensions to demand concerns. This shift came as the risk of an escalation in the conflict between Israel and Iran fell. Meanwhile, poor economic data from the US raised concerns about weak demand in the country. WTI, crude inventories (Source: Bloomberg, EIA) Read More…
The U.S. economy continues to expand in Q1 2024, with a projected 2.4% annualized GDP growth, exceeding the Fed’s non-inflationary growth rate. The IMF has raised its 2024 U.S. growth forecast to 2.7%, citing strong consumer spending and a strong labor market, which added an average of 276,000 jobs per month in Q1. Inflation is Read More…
Gold prices closed nearly flat on Tuesday after falling to a two-week low due to the loss of safe-haven demand. Moreover, investors turned their focus back to US economic data and the outlook for Fed interest rates. From the start of the week, risk appetite improved as Middle East tensions subsided. As a result, investors Read More…
Fundamentals To Scope The Federal Reserve maintained interest rates at its recent meeting, with no significant modifications to the statement. The Dot Plot continues to indicate three rate cuts in 2024, and economic projections have improved, with higher growth and inflation and lower unemployment. US economic data has been mixed, with CPI and NFP surpassing Read More…
Given the RSI readings showing oversold conditions on the 4-hour chart but not yet confirmed on the daily chart, traders should be cautious and confirm with additional indicators or price action before entering trades. The NASDAQ 100 is volatile, and news or economic events can have immediate impacts, so keeping abreast of such factors is Read More…
