Gold extended gains on Friday, as the dollar and US Treasury yields pulled back after US retail sales unexpectedly stalled in April. Spot gold rose 0.6% to $1,837.25 per ounce by 1503 GMT, heading for second week of gains. US gold futures climbed 0.7% to $1,836.10. “After a long period of (data) beating expectations, it’s
Dollar is under selling pressure against after rather poor retail sales data. US futures also pare back some earlier gains and look vulnerable. Yen is currently following the greenback as the second weakest, while commodity currencies are the strongest, together with Euro. The question now is, whether Dollar’s decline could gather enough momentum for new
A worker on an auto assembly line in Smyrna, Tennessee. Luke Sharrett/Bloomberg/Getty Images The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise, economists have told CNBC. The U.S. Consumer Price Index for April rose 4.2% from the same period last year, its
In this article ABNB Airbnb CEO Brian Chesky attends the Cannes Lions on June 20, 2016, in Cannes, France. Richard Bord | Getty Images Airbnb said revenue increased 5% in the first quarter, beating analysts’ estimates, as the rapid pace of vaccinations led to more travel. The company’s net loss tripled because of debt repayments and restructuring
Dallas Federal Reserve Bank President Robert Kaplan said on Friday that he is worried about excesses and imbalances in the economy and the housing market, as reported by Reuters. Additional takeaways “It’s going to take a while to resolve supply-demand imbalances in labor market.” “Watching carefully if supply-demand imbalances feed into higher inflation.” “Committed to anchoring inflation
NASDAQ still 7% below the all-time high The major indices snapped there three days losing streak. However, The Dow, S&P are on track for the worst week since late January. The NASDAQ is on track for its worst week since February 26 The NASDAQ is still 7% below its all-time high On a positive note
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Gold edged lower on Friday, as a firmer dollar made bullion more expensive for other currency holders, although a pullback in the U.S. Treasury yields limited losses for the safe-haven metal. FUNDAMENTALSSpot gold was down 0.2% at $1,823.77 per ounce by 0127 GMT. Bullion lost 0.4% so far this week. U.S. gold futures were steady
Overall market sentiment stabilizes mildly entering into US session. Major European indexes pared back much of earlier losses, while US futures also turned positive. Even though US PPI showed stronger than expected reading, slightly better than expected jobless claims is support sentiment, in a way. Dollar attempt to extend rebound earlier, but quickly lost momentum
Workers assemble a three-wheeled electric fun utility vehicle (FUV) at the Arcimoto manufacturing facility in Eugene, Oregon, April 19, 2021. Alisha Jucevic | Bloomberg | Getty Images U.S. producer prices data for April is set to be released at 8:30 am ET Thursday. The Producer Prices Index comes into focus after Wednesday’s consumer prices report
In this article DIS A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park in Anaheim, California, U.S., on Friday, April 30, 2021. Bloomberg | Bloomberg | Getty Images Disney is set to report fiscal second-quarter earnings after the bell on Thursday. Here are the key numbers: Earnings per
“I reiterated that the United States will not leave Australia alone on the field, or maybe I should say alone on the pitch, in the face of economic coercion by China, US Secretary of State Antony Blinken said during a press conference on Thursday (US time) alongside visiting Australian Foreign Minister Marise Payne. more to come …
Bitcoin (BTC) dipped below $50,000 again on May 13 as the fallout from Elon Musk’s criticism continued to resonate. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Traders wait for telltale buy signals Data from Cointelegraph Markets Pro and Tradingview confirmed BTC/USD failing to establish $50,000 as support after initially dipping to $45,650. Musk, speaking as CEO
First move above the 100 hour moving average since May 5 The USDCAD has cracked above its 100 hour moving average 1.21193. That is the first look above that moving average since May 5. The price has moved down from the 100 hour moving average at 1.22912 on that day, to the low price today at
Daily thread to exchange ideas and to share your thoughts Give me an I. Give me an N. Give me an F. Well, you know where this is going. Whether it be due to base effects and perhaps even transitory, the Fed will have its tolerance tested by the market in the coming months if inflation data
Akshay Tritiya is considered an auspicious occasion to start new things and make valuable purchases. Indians have a special attachment to gold, and over the years, have continued to import gold in huge quantities to fulfil their insatiable desire for the yellow metal. While Indian attraction to gold is unparalleled, demand is highly sensitive to
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +3.89 mmb to 1283.82 mmb in the week ended May 7. Crude oil inventory dropped -0.43 mmb (consensus: -2.82 mmb) to 484.69 mmb. Stockpile declined in 2 out of 5 PADDs with PADD 1
A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters A little inflation might not be such a bad thing, after all. With the Labor Department’s inflation report Wednesday spooking stock markets, and traders blaming rising prices for a broad sell-off in technology shares, attention