The price of gold has surged to $2517 USD per troy ounce, marking a return to growth. This increase comes as the market eagerly anticipates the release of the crucial US employment report for August. The data from this report could have significant implications on the Federal Reserve’s interest rate outlook, especially with an upcoming
China’s policymakers, including former head of the People’s Bank of China, Yi Gang, stressed the importance of boosting domestic demand during the Bund Summit in Shanghai. Yi emphasized the need to combat deflationary pressure and improve domestic demand to tackle issues in the real estate market and local government debt. This shift in focus highlights
The AUD/USD pair is currently trading lower, despite the hawkish remarks from the Reserve Bank of Australia (RBA) Governor Michele Bullock. What is interesting is that the softer Greenback and positive comments from the RBA are not enough to boost the Australian Dollar. This suggests that market sentiment plays a crucial role in influencing the
The recent report from the Labor Department shows a decline in the number of Americans filing new applications for jobless benefits. This decrease comes as layoffs in the US job market remain low, which could potentially ease concerns about the state of the labor market. The weekly jobless claims report is viewed as the most
The GBP/USD pair is currently trading above the crucial level of 1.3100, indicating that buyers are in control of the market sentiment. The Relative Strength Index (RSI) also confirms this bullish view, suggesting that the pair may be eyeing the 1.3200 resistance level in the near term. If the pair manages to clear the hurdle
As the EUR/USD pair hovers around 1.1077, investors are treading cautiously ahead of crucial employment data from the United States. The upcoming ADP private sector jobs report serves as a precursor to Friday’s highly anticipated Nonfarm Payroll (NFP) report, offering a glimpse into market sentiment. The release of weekly unemployment claims data will also be
In a bold move, Visa has announced plans to revolutionize the way we make payments by introducing a dedicated service for bank transfers. This innovative approach will bypass traditional credit cards and direct debit processes, providing users with more control and ease in managing their finances. Let’s delve into the details of this groundbreaking development
Upon analyzing recent unemployment data, it is evident that the spike in unemployment in July was not solely due to Hurricane Beryl. The Chief Global Economist at Arch Capital, Parker Ross, highlighted that there is no common theme across the key drivers of unemployment in various states, industries, or reasons. The fact that temporary layoffs
The USD/JPY pair has seen a slight uptick, reaching 145.95 on Wednesday morning after hitting two-week lows. This upward movement, while encouraging, may not indicate a significant trend reversal given the uncertain economic conditions. Market players are treading carefully as they await crucial US employment data for August, which is expected later this week. The
The silver price has been on a downward trend for the fourth consecutive day, currently hovering around $27.90 during Wednesday’s early European session. The decline of 0.55% can be attributed to several factors including a stronger USD and concerns about Chinese demand. The recent slowdown in China’s service activity growth, as indicated by the drop
The semiconductor stocks in Asia experienced a decline on Wednesday morning due to the substantial drop in Nvidia’s share price in the U.S. This reaction was triggered by Nvidia’s over 9% decline in regular trading, which reverberated through the semiconductor sector as a whole. The sell-off on Wall Street was intensified by economic data released
The repercussions of soft U.S. manufacturing data were felt across the global financial markets as the safe-haven Japanese yen saw a significant rally. The Australian dollar and sterling, on the other hand, struggled as traders opted for safer investments following a sharp sell-off on Wall Street. The negative sentiment was exacerbated by fears of a