Share: GBP/USD maintains its upward trajectory on a hawkish BoE tone. BoE Governor Andrew Bailey mentioned the challenge of bringing inflation back to the 2% target. US New Home Sales dropped by 5.6% at 679K against the market consensus of 725K in October. GBP/USD reached its highest level since early September, touching the
The holiday-shortened week is off and away in the US with the major indices opening trading above and below unchanged. A snapshot of the market currently shows: Dow is up 50 points or 0.15% at 35329 S&P index -1 point or -0.03% at 4555 .30 Nasdaq index -24 points or -0.17% at 14241 The US
BOE Bailey: Far too early to be thinking about rate cuts Returning inflation to 2% target remains our absolute priority When inflation is high, we take no chances The tragic events in the Middle East have added upside risk to energy prices Labor market remains tight despite softening recently Wage inflation remains elevated. We must
The major US stock indices are trading lower at the start of the Friday session. The market gave up earlier premarket gains employed by the futures. However, the indices are still on track for a positive week (3rd in a row). A snapshot of the market currently shows: Dow Industrial Average -37.47 points or -0.11%
We are watching the developments very closely They are bound to have economic implications for us to some extent Don’t want to jump to conclusions on extent of impact on economies, monetary policy He’s not wrong but at the same time, the ECB is merely just trying to buy itself as much time as possible
German DAX futures +0.3% UK FTSE futures +0.2% This comes as US futures are also seen up 0.2% with a slight opening gap higher, as the events in the Middle East over the weekend were not as bad as feared. That being said, keep an eye out on the bond market as 10-year Treasury yields
Share: The Norges Bank was a leader in terms of policy tightening, beginning back in September 2021. Economists at CIBC Capital Bank see rates peaking at the end of the year. One last hike for the Norges Bank? Having hiked rates on 13 occasions, the Norges Bank remains biased towards an additional 25
Share: Strategists from Toronto-Dominion Securities have published an analyst note highlighting that cautions Crude Oil prices, while set to go higher, could see limited upside. Higher yes… But too early to bet on extended oil bull run due to Middle East Oil prices jumped by over four dollars on Friday after the US
Gold, Retail Trader Positioning, Technical Analysis – IGCS Update Gold 2-week drop at -5.3%, most since early July Retail traders keep increasing bullish exposure This continues to support a bearish contrarian bias Recommended by Daniel Dubrovsky Get Your Free Gold Forecast So far, over the past 2 weeks, gold prices have sunk about -5.3 percent.
Share: NIO stock gives back early gains reaped on deregulation of cross-border data. China’s Cybersecurity Administration has reduced scrutiny of non-personal data. Hang Seng index closes 2.5% higher on the news. US Core PCE data for August shows inflation slowing, boosts US stocks. Nio (NIO) stock rose 1.2% early Friday, to $9.02 but
