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Too Hot To Handle: Gold Due For A Correction?

Too Hot To Handle: Gold Due For A Correction?

With gold hitting yet another awe-inspiring all-time high in the wake of Powell’s remarks reassuring markets (more or less) to expect rate cuts in 2024, a few analysts are pointing out risk factors for a correction — so is there really still room to run?The Wall Street Journal points out that oil price spikes driven by the […]
Analytical Overview Of The Main Currency Pairs – Friday, April 8

Analytical Overview Of The Main Currency Pairs – Friday, April 8

Image Source: Pexels  The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0834 Prev Close: 1.0833 % chg. over the last day: -0.01 % The US dollar fell to lows on Thursday after weekly US jobless claims rose more than expected to a 2-month high, dovish for Fed policy. But by the end of the trading session, the […]
Sensex Today Ends 21 Points Higher; Banking Stocks Gain

Sensex Today Ends 21 Points Higher; Banking Stocks Gain

After opening the day low, Indian share markets turned positive as the session progressed and ended the day higher.Benchmark indices stayed in the negative zone on Friday after the Reserve Bank of India’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% in FY25’s first monetary policy. The decision was taken with a majority […]
Key Events In Developed Markets For The Week Of April 8

Key Events In Developed Markets For The Week Of April 8

Image Source: Pixabay  The main focus in developed markets next week will be US CPI data for March, which we expect will still be running too hot for a return to the key 2% target. Meanwhile, GDP data takes the spotlight in the UK, and we expect to see signs pointing to a first-quarter rebound.  US: Core CPI print to be […]
March Jobs Report: Almost Uniformly Positive, Making A “Soft Landing” The Default 2024 Scenario

March Jobs Report: Almost Uniformly Positive, Making A “Soft Landing” The Default 2024 Scenario

Image Source: Pixabay  In the past few months, my focus has been on whether jobs gains are most consistent with a “soft landing,” i.e., no further deterioration, or whether deceleration is ongoing; and more specifically:  Whether there is further deceleration in jobs gains compared with the last 6 month average, vs. a “soft landing” stabilization. Whether the […]
U.S. Economy Added 303k Jobs In March, More Than Expected

U.S. Economy Added 303k Jobs In March, More Than Expected

Image source: Pixabay  The U.S. economy added 303,000 jobs in March, with significant gains in the healthcare, government, and construction sectors.The U.S. economy witnessed a substantial boost in employment in March, with nonfarm payrolls increasing by 303,000, according to the latest report from the Bureau of Labor Statistics. The healthcare, government, and construction sectors observed the most significant […]
US Q1 GDP Nowcast Highlights Growth Slowdown Persisting

US Q1 GDP Nowcast Highlights Growth Slowdown Persisting

US economic output is still on a path for a materially softer pace of growth in the first-quarter GDP report scheduled for release at the end of this month. The expansion will be strong enough to minimize recession risk, but the deceleration in the trend via GDP data will remain conspicuous for a second straight […]
BRN: Further Upside As Golden Cross Forms?

BRN: Further Upside As Golden Cross Forms?

BRN is trading above the psychologically important $90/bbl, the level last seen in October 2023, forming a golden cross formation. Golden cross is bullish chart pattern that occurs when short term moving average (50-period SMA) moving above long-term moving average (200-period SMA).   Escalating tensions in the Middle East and fears of a potentially wider regional conflict have been […]
Stocks Sold Off: What’s Next?

Stocks Sold Off: What’s Next?

Is yesterday’s decline a prelude to a deeper correction?Stocks sold off on Thursday, with the S&P 500 index closing 1.23% lower. The intraday decline was quite significant, as the market opened 0.6% above Wednesday’s closing price. The sentiment reversed after comments from FOMC Member Kashkari indicated less likelihood of interest rate cuts.Yesterday’s daily low was […]
US Nonfarm Payrolls Data Today Rises Rate Cut Hopes

US Nonfarm Payrolls Data Today Rises Rate Cut Hopes

 Image Source: Pexels   This afternoon brought unexpected good news for the US markets. Higher than expected nonfarm payrolls data boosted both the USD and various indices. The bumper amount of jobs created for the American economy has also risen hopes of an interest rate cut soon. This afternoon, US nonfarm payrolls figures were announced by the US […]