The currency pair has been climbing for the second consecutive day, reaching a nearly two-week high during Friday’s Asian trading session. The pair’s increase is largely attributed to optimism over additional stimulus from China and positive Chinese economic data. China’s National Bureau of Statistics (NBS) reported that the country’s August retail sales grew by 4.6%
Share: XAG/USD advanced by 2.20% to $23.20. The USD is trading somewhat soft on Friday ahead of the weekend. US yields and tightening expectations remain steady. Michigan Consumer Sentiment from September declined to 67.7. At the end of the week, the XAG/USD Silver Spot price gained significant demand and increased to $23.15. On the
The price of WTI crude futures are settling at $90.77. That’s up $0.61 or 0.66%. The low for the day reach $89.22. The high extend up to $91.15. For the week, the prices up around 4% on the week. This is the 3rd consecutive up week for crude oil. Technically, the price is closing above
© Reuters. Investing.com – The U.S. dollar retreated in early European trade Friday, while the euro rebounded from multi-month lows after the European Central Bank’s latest meeting signaled the rate hike will be its last. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded
Share: Arm Holdings gained 24.7% on Thursday debut. ARM stock sells off Friday after initial rally. Higher Oil prices are affecting market sentiment as inflation indicators rise this week. United Auto Workers initiates strikes at Ford, GM and Stellantis factories. Taiwan Semiconductor tells suppliers to delay equipment orders. Arm Holdings (ARM) stock is
S&P is out with it expectations for the UAW strike and implications. They say Warns that if the UAW strike continues for over a week and expands, it could lead to significant reductions in earnings and liquidity in the US auto sector for 2023. Predicts a slowdown in U.S. auto sector momentum in the second
© Reuters. The Nigerian Naira has continued to depreciate against major currencies, with the exchange rate for a dollar reaching N950 at the Lagos Parallel Market on Friday, September 15, 2023. The Naira also saw depreciation against the British Pound and the Euro, going from N1190/£1 to N1210/£1 and from N995/€1 to N1020/€1 respectively. This
Share: US oil took a small hit on Friday, but is rebounding firmly to hold $90/bbl. OPEC production cuts are squeezing crude prices into the ceiling. The next hurdle for buyers will be pushing crude into $100. West Texas Intermediary (WTI) US crude oil hesitated in Friday trading, dipping to $88.60 per barrel before
It was a fantastic week for our forex strategists as four out of four discussions played out favorably relative to our biases and expectations. Check out the recaps below to see how using fundamental analysis helped our efforts to anticipate price action, which can hopefully help you understand this part of the trading process better
The broader major indices closed sharply lower today led by the NASDAQ index which fell -1.56%. The S&P index fell -1.22%. The declines push the indices into the red for the trading week. The Dow industrial average fell -0.83%. For the trading week, Dow industrial average closed up 0.12% S&P index fell -0.16% NASDAQ index
