Gold prices in the United Arab Emirates have remained relatively stable, with slight fluctuations observed over the past few days. According to data compiled by FXStreet, the price for Gold stood at 290.59 United Arab Emirates Dirhams (AED) per gram on Thursday, showing minimal change compared to the previous day. The price for Gold per
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The US Dollar has observed a significant fall recently, reaching its lowest value since March. This decline can be attributed to the Federal Reserve’s bets leaning in favor of a dovish stance. The market sentiment towards the Federal Reserve’s monetary policy has been on the dovish side, which has put downward pressure on the USD.
The Canadian Dollar (CAD) is showing slight gains this morning, although it is considered a relative underperformer compared to a weakening US Dollar (USD). Shaun Osborne, Chief FX Strategist at Scotiabank, highlights that the Mexican Peso (MXN) is also losing ground amidst speculation surrounding President Trump’s interest in implementing tariffs. Data from yesterday’s Canadian Consumer
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BlackRock, the asset management giant, reported a 10% increase in profits in the second quarter of the year. This rise in profits was largely driven by robust ETF inflows and a rising stock market. The company reported a record $10.6 trillion in assets under management by the end of Q2, marking a 13% increase from
The USD/JPY pair has shown signs of edging higher to 158.30 in early Asian trading sessions, driven by a rebound in the US Dollar. With Fed officials acknowledging significant progress on inflation, investors are closely monitoring US economic data, particularly the June Retail Sales and speeches from Federal Reserve officials. This positive outlook on the
As we begin the week, the financial markets are treading cautiously in response to reports of an assassination attempt on former President Donald Trump. This unsettling news has put investors on edge, leading to a subdued start to trading activities. Moreover, the economic calendar for the day does not feature any high-impact data releases, further
The gold price has been on a downward trend, currently trading around $2,405 in the early Asian session. The unexpected acceleration of the US PPI in June has contributed to this decline, marking the highest rate since March 2023. This increase in wholesale price inflation in the United States has put pressure on the precious
In a shocking turn of events, Former President Donald Trump narrowly escaped an assassination attempt during a rally in Butler, Pennsylvania. Multiple gunshots were fired, with one bullet grazing the upper part of Trump’s right ear. This incident highlights the alarming levels of violence and political tensions in the country. The Secret Service acted promptly
The Australian Dollar (AUD) has shown resilience against the US Dollar (USD) as it climbed to its highest level since January, reaching near 0.6800. This positive trajectory has been buoyed by the divergence in monetary policies between the Reserve Bank of Australia (RBA) and the Federal Reserve (Fed). Market participants have been closely monitoring the
The US Dollar Index (DXY) has been on a downward trend, hitting April lows. This decline can be attributed to the disappointing US Consumer Price Index (CPI) figures and softer University of Michigan (UoM) sentiment data. Both of these factors are leading to speculations of a rate cut by the Federal Reserve in September. While
VanEck Gold Miners ETF ($GDX) has shown an interesting past performance based on the 4H Hour Elliott Wave chart. The rally from the 2.28.2024 low at $25.64 unfolded as a 5 waves impulse. This indicated that a pullback would occur in 3 swings before finding buyers again. Elliott Wave Count Analysis Looking at the 4H