It’s a banner moment for the gold bugs as it hits $5000 per ounce for the first time. It’s a monster rally since August and includes a 17% rally so far this year. Despite how impressive that is, it pales in comparison to silver, which is up 48% year-to-date. It’s all great news if you’re long precious metals or…
Japan Prime Minister Sanae Takaichi said that the government will take necessary steps against speculative and abnormal market moves, Bloomberg reported on Sunday. However, she didn’t specify which market her remarks were referring to. The comments followed a dramatic reversal in the yen late on Friday after traders reported that the Federal Reserve Bank of New York had contacted…
With all the drama in the United States and Japan at the moment, some massive moves in China are flying under the radar. President Xi Jinping undertook a massive purge of the military. Gen. Zhang Youxia was accused of leaking nuclear-weapons data to the US and accepting bribes for promotions, including of a defense minister, according to the WSJ….
Silver (XAG/USD) prices reached the $100.00 milestone on Friday, recording an all-time high of $100.39 before retreating towards the triple-digit figure. The grey metal is posting daily gains of over 4% after bouncing off daily lows of $96.04. Even though geopolitical risk diminished following the de-escalation of the US-European Union trade war, the US Dollar (USD) faces headwinds, continuing…
The Fed meets Wednesday in a week where Powell’s succession uncertainty matters more than the rate decision itself, with gold at all-time highs pricing political risk.
Prior 51.4 Manufacturing PMI 51.6 vs 50.6 expected Prior 50.6 Composite PMI 53.9 vs 51.5 expected Prior 51.4 Full report here Key Findings: Strongest upturn in UK private sector business activity since April 2024 Comment: Chris Williamson, Chief Business Economist at S&P Global Market Intelligence: “UK businesses kicked up a gear in January, showing encouraging resilience in the face…
The Euro (EUR) trades flat against the US Dollar (USD) on Friday, as traders show a muted reaction to the latest US economic data. At the time of writing, EUR/USD is hovering near 1.1750 and remains on track for its first weekly gain in three weeks amid sustained weakness in the Greenback. Preliminary S&P Global Purchasing Managers Index (PMI)…
FUNDAMENTAL OVERVIEW USD: The US Dollar weakened across the board again yesterday despite stronger than expected US jobless claims and lack of any other meaningful catalyst. We got a brief rally in the greenback after Trump announced that he reached a “framework” of a deal for Greenland and that he won’t go ahead with tariffs, but it’s clear that…
United States Baker Hughes US Oil Rig Count meets expectations (411)
Goldman Sachs is arguing this point from the perspective of central bank subordination risks, and notes that the Swiss franc is the “best placed global FX hedge” for that. But the firm also adds in other factors as to why the currency is a solid pick amid the macroeconomic backdrop that is at play currently. “Our view remains that…
