NEW DELHI: Gold prices were trading flat, steady near a one-month high on Friday, thanks to a fall in the US dollar and weak US treasury yields. Traders awaited the US jobs data amid the growing recession fears boosted safe-haven demand and kept bullion on track for its third straight weekly rise. The market’s focus
Month: August 2022
The currency markets are quiet overall as focus now turns to US job data. The post BoE selloff in Sterling didn’t last long. Meanwhile, Dollar is still range bound against Euro and Yen. The greenback’s rally attempt against Swiss Franc also faltered rather quickly. Commodity currencies are steady. Most major pairs and crosses are stuck
A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an
In this article UBER Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever. Shares of Uber closed the day up 18.9%. Here are the key numbers: Loss per share: $1.33, not comparable to estimates. Revenue: $8.07 billion vs.
Gold price extends its gains to three straight weeks, up 0.54%. Stellar US jobs data exerts further pressure on the Fed, as next week CPI is eyed. US-China tussles add further uncertainty to the global economic outlook. Gold price remained on the defensive late during the New York session after an early US employment report
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. This past week, the DeFi ecosystem saw two exploits one after another resulting in the loss of millions of dollars. First, cross-bridge token platform Nomad became a victim of
The US 10 year yield is moving to a new high at 2.869%. The current yield is at 2.853% as I type. 10 year yield That high has taken the yield to a new high for the week surpassing the 2.849% level reached on Wednesday. The high yield reached 2.869%. The current yield is trading
Bank of America Global Research discusses its expectations for major central banks policy trajectory. “Assuming inflation proves indeed to be persistent, we would expect most central banks by the end of this year or early next year to bring some form of forward guidance back. Instead of hiking more, they could commit to keep interest
Gold in the national capital on Friday was marginally down by Rs 9 to Rs 52,592 per 10 grams, according to HDFC Securities. The yellow metal had closed at Rs 52,601 per 10 grams in the previous trade. Silver also declined by Rs 487 to Rs 58,477 per kg from Rs 58,964 per kg in
Dollar soars broadly, together with benchmark treasury yields, after an all around strong non-farm payroll report. At the same times US futures tumble, apparently on expectations Fed’s tightening pace will continue with such healthy job market. The greenback is now the strongest one for the week and the question is, whether it could break through
Zoom In IconArrows pointing outwards Bureau of Labor Statistics The U.S. economy added many more jobs than expected last month, and there was an appetite for workers particularly in the service sector, which has been grappling with labor shortages. The leisure and hospitality sector saw the most jobs growth, with 96,000 payrolls added in July,
In this article JBLU JetBlue Airways Airbus A320 passenger aircraft landing at John F. Kennedy International Airport in New York City. Nik Oiko | LightRocket | Getty Images JetBlue Airways shares tumbled more than 6% Tuesday after a surge in costs drove it to another quarterly loss just as it plans its takeover of Spirit
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UOB Group’s Head of Markets Strategy Heng Koon How, CAIA, Senior FX Strategist Peter Chia, Rates Strategist Victor Yong and Markets Strategist Quek Ser Leang assess the ongoing recession fears and its effect on the long term yield. Key Takeaways “The Recession vs Inflation debate has intensified and taken an interesting turn. For now, it
USDJPY trades between 200 and 100 hour MA today The USDJPY moved back above the 100 hour MA yesterday in the early European session (for the 2nd time on the day). A corrective move lower retested that MA line and pushed toward the 200 hour MA in the US afternoon session. After a dip today
The Fed stressed on data dependency and Powell outlined that they will have two labour market reports and two consumer inflation reports to get through before the September meeting, so we’re now at the first hurdle. The consensus for the non-farm payrolls figure today is +250K. The headline figure will obviously attract first attention in
Gold prices firmed on Friday to hover near a one-month high, as a retreat in dollar and U.S. Treasury yields and growing recession fears boosted demand, keeping the safe-haven metal on track for its third straight weekly rise. FUNDAMENTALS * Spot gold was up 0.2% at $1,793.88 per ounce, as of 0054 GMT, after hitting
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