The EUR/USD pair recovers some lost ground to near 1.1220 during the early Asian trading hours on Monday. However, the potential upside for the pair might be limited amid concerns over French unrest and political risks. Germany’s IFO reports are due later on Monday. CNBC reported that protests throughout France over the worsening cost of living and growing inequality…
Gold dips below $4,000 in worst week in four months as oil fuels Fed hike fears !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ^_`abcdefghijklmnopqrstuvwxyz{|}
Gold price (XAU/USD) declines to near $3,995 during the early Asian session on Monday. The precious metal remains under some selling pressure near its lowest since July as elevated energy prices reinforced inflation concerns before the Federal Reserve’s (Fed) next policy meeting. WTI crude oil price reached a more than five-month high after Houthi attacks in Saudi Arabia stoked…
Strategy bitcoin purchases shrink as buybacks take priority ahead of earnings !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ^_`abcdefghijklmnopqrstuvwxyz{|}
Commerzbank’s Charlie Lay and Dr. Henry Hao highlight that the Bank of Korea (BoK) kept its policy rate at 3.00% after two prior hikes, but delivered a clearly hawkish message. Strong semiconductor exports underpin higher growth expectations and rising inflation pressures. The authors note KRW strength since June and expect USD/KRW to consolidate in a 1300–1350 range near term….
Morning Kickstart: Tech selloff leaves buyers on the defensive !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ^_`abcdefghijklmnopqrstuvwxyz{|}
The University of Michigan’s consumer sentiment index was 48 for October, the second-lowest reading since 1952, and the S&P 500 is within 2% of a record. The rule that record gloom precedes a 20% rally only worked after a crash, and there hasn’t been one. The University of Michigan (UoM) published its final October sentiment reading on Friday: 48,…
The advance August reading was +1.3% Prior was -0.7% Sales up in all 9 subsectors, led by motor vehicles Ex-autos +1.2% vs +1.0% expected Prior ex-autos was -0.7% September advance sales +0.7% The advance (or flash) reading is the real market mover in this report now as it generally corresponds with the final reading. The +0.7% m/m number for…
Gold (XAU/USD) price prolongs its agony, tumbling by nearly 0.60% on Friday and poised to finish the week with losses as higher energy prices increase the chances that major central banks could tighten monetary policy to control inflation. At the time of writing, XAU/US floats near $4,000 after hitting a three-month low of $3,975. XAU/USD is down nearly 4%…
Five central banks decide and Microsoft, Alphabet and Amazon report. A Fed hold is priced in, so Warsh’s December tone may set yields, the dollar and gold.
