Despite the ongoing geopolitical tensions in the Middle East, the gold price kicked off the new week on a positive note, hovering around $2,360 on Monday. The safe-haven appeal of gold has been evident, especially with the escalating tensions in the region. Last week, several US Federal Reserve officials made hawkish comments that could potentially
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Market sensitivity to economic data, particularly the Michigan Inflation Expectation numbers released last Friday, has the potential to significantly impact the USD/JPY exchange rate. An unexpected increase in the Michigan Inflation Expectations Index led to gains for the USD/JPY pair. Looking ahead, investors should pay close attention to speeches by FOMC members, such as Loretta
Gold prices in 2024 have shown remarkable resilience despite a strong U.S. dollar and hawkish statements from the Federal Reserve. While traditional economic indicators would suggest a downward trend for gold prices in such conditions, there are several key factors at play that have kept the precious metal’s value strong. One of the primary reasons
Chinese companies have once again emerged victorious in the Iraqi oil and gas exploration sector, securing five more bids to explore new fields. This comes as no surprise, as Chinese companies have been the sole foreign players to win bids in this round, with licenses covering a total of 10 oil and gas fields. Additionally,
Australia’s government recently announced updated inflation projections, indicating a faster than expected moderation to the central bank’s target range of 2%-3% by the end of the year. While the previous forecast in December suggested that consumer price inflation would slow to 3.75% by mid-2024 and 2.75% by mid-2025, the new projection anticipates that headline inflation
The recent adjustment in inflation forecasts by the central bank has highlighted a dovish tilt in overall policy decisions. While the bank still maintains its projection of reaching the 2.0% inflation target in Q2 of the current year, there has been a downward revision in the forecast for the second half of the year. The
The monthly chart for GBP shows a potential uptrend, but the key resistance level at $1.3142 needs to be surpassed for a confirmed long-term uptrend. The monthly support level at $1.2173 is seen as the next downside target for GBP bears, indicating a bearish trend in the long term. Daily Chart Trend The daily chart
As investors eagerly await the CPI numbers on 13 May 2024, projections indicate that India’s retail inflation is likely to remain stable at around 4.8% in April 2024. This forecast comes after a slight dip in March, attributed to lower gasoline prices. There is a possibility that the year-on-year inflation rate could touch 5.0% once
As an investor, it is crucial to keep a close eye on key economic indicators that can significantly influence market sentiment and trading decisions. In the upcoming week, there are several important events and reports that investors should pay attention to in order to gauge the direction of the market. RBA Chatter and Aussie Labor
The Australian Treasurer, Jim Chalmers, has expressed his expectations that the upcoming federal budget will help alleviate the country’s persistent issue of high inflation. With consumer inflation reaching 3.6% in the first quarter and projected to rise to 3.8% by June, there is a pressing need for measures to address this economic challenge. The Reserve
The body camera footage captured the intense reactions of the first responders who arrived at the scene of the collapsed Francis Scott Key Bridge in Baltimore. The videos, which were released by local media, show the disbelief and shock of the officers from the Maryland Natural Resources Police as they approached the site where the
Billionaire investor Kenneth Griffin recently spoke out against the turmoil on college campuses, specifically targeting his alma mater, Harvard University. In an interview with the Financial Times, Griffin emphasized the importance of embracing “Western values” in education. He expressed his concern that the U.S. has veered away from the core principles of pursuing truth and