Treasury Secretary Janet Yellen said the US job market remains healthy and touted “very solid” consumer and investment spending, even as recent data suggest some cooling is taking place. “The job market has become less tight within the last year or so, but the unemployment rate we have today by historical standards would be considered … Read more
European stocks snapped a three-day streak of gains on Monday amid light volumes with the UK market closed for a national holiday. The Stoxx 600 Index was little changed at the close in London. Markets rose broadly last week as Federal Reserve Chair Jerome Powell said the time had come for the central bank to … Read more
By Lawrence Delevingne and Huw Jones -Global shares idled on Wednesday after a lengthy rebound propelled them towards recent record highs, and as investors awaited clues on interest-rate cuts from the Federal Reserve to decide their next move. Fed Chair Jerome Powell is expected to further cement the view that the central bank is about … Read more
The euro rose to the highest level in one year against the dollar as currency traders bet US central bankers will reinforce the case for lower borrowing costs at the Federal Reserve’s Jackson Hole economic symposium. The euro gained as much as 0.2% on Wednesday to 1.1148, its strongest level since July 2023. The European … Read more
The yen outperformed most of its peers in the Group of 10 Monday, rallying against the dollar in jittery trading ahead of key central bank events later in the week. Japan’s currency climbed as much as 1.7% versus the greenback to 145.19, before trimming the advance to about 0.8% during New York trading. The rally … Read more
Focus of Wall Street investors’ in the week ahead will be primarily on the Jackson Hole Economic Symposium to be held from August 22 to 24 inWyoming. Global central bank officials, including Federal Reserve Chair Jerome Powell, will speak at the symposium. The event will also see the participation from economists, financial market leaders and … Read more
After the rout in stock markets last week, Wall Street investors’ attention in the week ahead will be on inflation readings with the Producer Price Index and the Consumer Price Index data slated to be released on Tuesday and Wednesday, respectively. The week ahead will also see some more significant economic data including retail sales … Read more
After a weak jobs report stoked fears of US economic recession last week, Wall Street investors will stay cautious and closely watch the upcoming economic data in the week ahead. A report on Friday showed hiring by US employers slowed in July by much more than economists had expected. Next week, reports on US services … Read more
Technical posture for gold remains bullish – analyst India slashes import tax on gold, silver Focus on US PCE data on Friday July 23 – Gold prices edged up on Tuesday and were set to break a four-day losing streak, as investors awaited U.S. economic data due later this week for more clarity on the … Read more
Gold prices surged over 1 per cent to a record high on Tuesday as investors turned to the safe-haven asset following comments from Federal Reserve officials that solidified expectations for a U.S. interest rate cut in September. By 11:01 a.m. ET (1501 GMT), spot gold increased by 1.3 per cent to $2,452.29 per ounce, while … Read more