Gold’s lightning rally to successive record highs shows every sign of continuing in the second half of 2024 as the fundamental case for bullion remains firmly in place, though $3,000 per ounce looks just out of reach, traders and industry experts said.Investors have flocked in droves towards the precious metal, driven by expectations for monetary … Read more
By Naeem Aslam European and US futures are trading with extreme caution on Wednesday as traders are reluctant to make any big moves ahead of two important events. Observing the day’s price action reveals a tense atmosphere, because the US CPI report and the Fed’s monetary policy decision, followed by their press conference, are … Read more
The Federal Reserve will most certainly hold US interest rates steady at the current 23-year high and investors need to review their portfolios amid a divergence in global monetary policy, a leading financial advisor said Wednesday. “With the annual CPI increase at 3.3%, markets might be hopeful for potentially more rate cuts, but there remains … Read more
The US Dollar is holding steady early Wednesday, as investors gear up for key macroeconomic events that could significantly impact the currency’s valuation. The Bureau of Labor Statistic will release the Consumer Price Index data for May in early U.S. trading. Later in the day, the Federal Reserve will announce monetary policy decisions and publish … Read more
The EURJPY cross extended its decline near 168.85 during early European trading on Monday, with the Euro attracting some sellers amid the uncertainty over the political scenario in France. President Emmanuel Macron dissolved the French national assembly and announced a snap election after exit polls indicated that his Renaissance party would be defeated by the far-right … Read more
USDJPY spiked higher by over half a percent just after the release of US nonfarm payrolls (NFP) data, on Friday. USDJPY traded in the upper 156s after the US Dollar strengthened as a result of the better-than-expected results. Nonfarm payrolls showed the number of employed people in the US rose by 272,000 in May, when … Read more
Gold traders and investors expected the European Central Bank to cut interest rates by 25 basis points for the first time since 2019 in its meeting on Thursday, making it the first reversal in the bank’s hawkish monetary policy in five years. The Euro and the equities markets in Europe had already priced a major chunk of … Read more
Eurozone business activity expanded at its quickest rate in a year in May as growth in the bloc’s dominant services industry outpaced contraction in manufacturing, according to a private survey, which also showed price pressures easing.HCOB’s composite Purchasing Managers’ Index (PMI) for the currency union, compiled by S&P Global and seen as a good gauge … Read more
Higher-for-longer interest rates are likely to remain central banks’ main strategy for the rest of the year, according to the CEO of a leading financial advisory and fintech firm.
The EURUSD pair fell to 1.0830 in European trading after failing to reach a two-month high near 1.0900. ECB governing council member Klaas Knot suggested a gradual rate-cut approach based on recent data showing wage growth and improved Manufacturing PMI. The Dollar’s DXY Index recovered to 104.80 due to market sentiment. Investors are now expecting the Fed to start reducing interest rates in the last quarter of the year.