US economic growth for last quarter is revised up to a solid 3% annual rate The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce Department had previously estimated that the nation’s […]
Dollar Steadies Ahead of Key U.S. Inflation Data, Traders Eye Fed’s Next Move The US dollar stabilized on Thursday, recovering from recent losses as traders focus on the upcoming core personal consumption expenditures (PCE) price index release, the Federal Reserve’s preferred inflation gauge. The PCE data, due Friday, could provide crucial insights into future rate […]
Gold Slips 1.1% Amid Stronger Dollar; All Eyes on Upcoming Inflation Data Gold prices fell by as much as 1.1% to $2,498.36 an ounce as a stronger dollar prompted investors to book profits after recent gains. The rise in the dollar, driven by speculation of month-end portfolio rebalancing, made gold more expensive for non-U.S. buyers. […]
Asian Markets Decline Amid Weak Chinese Earnings and Anticipation for Nvidia Results Asian stocks fell, led by declines in Chinese markets, as disappointing corporate earnings raised concerns about China’s economic outlook. Nongfu Spring Co. shares plummeted after reporting its slowest profit growth in four years. Investors are also cautious ahead of Nvidia’s earnings, which are […]
Asian Stocks Retreat as Tech Earnings and US Rate Outlook Weigh on Sentiment Asian stocks ended a three-day winning streak, with technology shares leading the decline as investors focused on corporate earnings and the upcoming Nvidia results. The MSCI Asia Pacific Index fell 0.4%, with notable losses in Hong Kong, mainland China, and South Korea. […]
Oil Rises After Israeli Strikes and Call to Halt Libyan Exports Oil advanced after an Israeli strike on Hezbollah targets in southern Lebanon raised tensions in the Middle East and Libya’s eastern government said it will halt exports. Global benchmark Brent traded near $81 a barrel, while West Texas Intermediate climbed past $76. Israel sent […]
Oil Prices Surge on Middle East Tensions and U.S. Rate Cut Hopes On Monday, oil prices continued to rise due to concerns that escalating violence from the Gaza conflict might impact oil supplies in the Middle East. Additionally, anticipated cuts in U.S. interest rates improved global economic prospects and increased expectations for fuel demand. In […]
US Dollar Drops as Markets Await Powell’s Speech at Jackson Hole The US dollar declined against major currencies early Friday as market focus shifts to Federal Reserve Chairman Jerome Powell’s upcoming keynote address at the Jackson Hole Symposium. Historically, this event has been a platform for signaling potential shifts in monetary policy. With recent soft […]
Yen Strengthens as BOJ Signals Rate Hike Path; Asian Stocks Mixed Ahead of Powell’s Speech The yen led gains among G-10 currencies, rising 0.5% to 145.62 per dollar after Bank of Japan Governor Kazuo Ueda indicated possible further interest rate hikes if economic conditions align. Japanese bond futures fell, and stocks fluctuated as traders assessed […]
US Dollar Mixed as Markets Await Economic Data and Jackson Hole Symposium The US dollar showed mixed performance against major currencies early Thursday, rising against the euro and yen while falling against the pound and Canadian dollar. This comes ahead of a busy day of economic data releases and the start of the Federal Reserve’s […]