Gold prices on the rise due to dollar weakness. The yellow metal might go higher still if the Federal Reserve becomes less hawkish. The Fed’s Daly is open to a more significant rate hike than the expected 50bps. Broader dollar weakness has left the bullion on course for its fourth consecutive weekly gain. US gold Read More…
Last week saw an uptick in US gasoline consumption. US oil refiners and pipeline operators forecast higher energy demand in the second half of 2022. Russia resumes oil supply to Europe via the Druzhba pipeline. Investors flocked to riskier assets in response to lower-than-expected US inflation statistics and promising news on US gasoline consumption. According Read More…
Micron, Novavax, and Upstart warn investors of poor future earnings. Investors are waiting to see if US inflation has peaked. Rising bond yields cause the decline of growth stocks pushing stock futures lower. Micron, Novavax, and Upstart have warned investors that future earnings and revenue will be lower than anticipated. The S&P 500 dropped by Read More…
Markets expect the Federal Reserve to take action against rising inflation. Nvidia expects a 19% drop in Q2 revenue. Tesla shares rose 0.8% after announcing contracts worth around $5 billion. Wall Street ended Monday’s trading day unchanged after last week’s massive jobs report confirmed expectations that the Federal Reserve will take action against inflation. Stock Read More…
Britain will decide on its next Prime Minister in September. A new Prime Minister will adopt a different policy affecting pound futures. The BoE warned of a looming recession in the UK. The battle for the position of the prime minister of Britain is entering its last stretch, and the decision in September will likely Read More…
Gold is expected to average $1,745 per ounce in 2023. The real yield on US 10-year bonds turns positive. Fed officials maintain a more hawkish stance. The outlook for gold (GC) futures is slightly bearish as the US dollar pushes higher. As a result of high-interest rates and a strong US currency, gold will average Read More…
