According to Investing.com, the Dollar Index climbed by 0.1% after its overnight drop of 0.6% on Wednesday, 1 May 2024. Powell admitted that the battle against high inflation continues and that interest rates will remain unchanged for now. He also said that he did not foresee increases for 2024, which came as a surprise given…
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The dollar index retreated by 0.2% to reach 104.85, its lowest point in over six weeks, following a substantial 1.4% drop last week. In contrast, the euro saw a 0.2% increase, reaching a 7.5-week high at $1.0756. Several factors contributed to the dollar's decline. These included the weakening US job market, softer manufacturing statistics, and…
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GOLD Despite “risk off” dominating the last few days on stock markets, gold has been weak and we have seen the dollar recover, with the greenback inversely correlated with bullion and commodities. A major reason for gold’s weakness has been the sharp decline on stocks forcing some traders to close positions on gold to avoid…
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EUROPEAN SHARES Most European benchmarks opened higher on Thursday, paring some of yesterday’s losses, as market sentiment gets a fresh boost from the corporate sector. Strong earnings reports from major companies like ASM International NV or Royal Dutch Shell have managed to reassure investors, temporarily at least, ahead of another busy day. There is also…
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EUROPEAN SHARES European shares continued their slide on Tuesday, following drops on US futures overnight. Investors continue to assess the possible impact of more and more restrictions on economies and prefer to limit their exposure to riskier assets due to rising uncertainty. This is especially true in Europe where French President Macron is now expected…
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EUROPEAN SHARES European stocks plunged alongside the S&P 500 at the beginning of Monday’s trading session, amid rising virus worries over the weekend. Most investors want to remain optimistic about the upside potential of stock markets but they are becoming increasingly sceptical about the next US stimulus package. In addition, recent record-breaking infection levels in…
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GOLD Gold spot price is consolidating just above the threshold of $1,900. After an unsuccessful attack to $1,930, the price collapsed below $1,900, but buyers were ready to sustain bullion. Prices are moving in a relatively tight lateral trading range between $1,880 and $1,930, while yesterday’s decline was curbed at around $1,894 - well above…
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GOLD Gold spot price rallied to $1,932 as expectations of further monetary stimulus initially grew in the US, before easing down back to $1,915 after doubts over an imminent deal emerged. From a technical point of view, there has been an interesting assault to the resistance level at $1,930/1,932, but that level remains firm so…
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EUROPEAN SHARES Stocks drifted lower on Wednesday, despite bets on further US stimulus driving most Asian stocks and US Future contracts higher overnight. Investors were pleased to see the US House of Representative speaker Nancy Pelosi maintaining her “hopes” of a compromise on the next stimulus plan before the end of the week. However, while…
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GOLD In the last few days there hasn’t been much volatility on bullion as investors awaiting new market drivers. Only a clear climb above $1,930 would give new strength to the price, while although the bull trend seems to be in pause it is definitely not yet dead. We will have a weakness signal below…
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