The US dollar could be volatile in the near term as traders await the release of mixed inflation data on Wednesday. Economists expect the headline inflation rate to rise to 3.6% in August, but the core inflation rate is expected to fall to 4.3%. This mixed picture could lead to increased volatility in the dollar, …
US Dollar Could Be Volatile as Mixed Inflation Data Looms Read More »
Spot gold was trading at $1,908.70 per ounce by 3:08 a.m. ET, down 0.2%. U.S. gold futures were down 0.2% to $1,931.10. The U.S. Consumer Price Index (CPI) data due at 12:30 p.m. ET could offer some insights on what to expect from the Fed in terms of rate hikes. Economists expect the headline inflation …
Gold prices fell on Tuesday as the US dollar strengthened, with investors awaiting the release of US inflation data later in the week. Spot gold was down 0.3% at $1,923.50 per ounce by 2:30 pm ET (1830 GMT), while US gold futures fell 0.2% to $1,937.50. The US dollar index, which measures the greenback against …
Gold prices fall as US dollar strengthens ahead of August inflation report Read More »
Spot gold was down 0.2% at $1,918.72 per ounce by 2:30 p.m. ET, while U.S. gold futures fell 0.3% to $1,941.70. The dollar index, which measures the greenback against a basket of major currencies, rose 0.2%. A stronger dollar makes gold more expensive for buyers holding other currencies. Investors are awaiting the release of U.S. …
Gold prices rose on Monday, supported by a retreat in the dollar as investors looked ahead to US inflation data that could define the Federal Reserve’s moves on interest rates. Spot gold gained 0.3% to $1,922.89 per ounce by 3:13 AM ET (0713 GMT), having lost 1% in the previous week. US gold futures rose …
Gold Prices Rise as Investors Await US Inflation Data Read More »
Gold prices are set to end the week lower as the latest batch of data showed that the US economy is still growing strongly, giving the Federal Reserve some room to keep monetary policy restrictive or even raise interest rates further. On Friday, gold prices edged up to $1,921 an ounce, but they are still …
Gold Prices Set for Weekly Decline as US Economy Shows Resilience Read More »
The ISM non-manufacturing purchasing managers index rose to 54.5% in August, the highest level since February 2021. The data showed that the services sector continued to expand at a strong pace, despite rising inflation and interest rates. The stronger economic data also supported the dollar, which rose against a basket of other currencies. A stronger …
Global stock markets were on the back foot on Wednesday, as investors fretted over the impact of slowing growth in China and Europe on the global economy. In the US, S&P 500 futures were down 0.2%, while Nasdaq futures were down 0.3%. European stocks were also lower, with the pan-European Stoxx 600 index down 0.7%. …
Global stocks stumble as growth jitters intensify Read More »
The US dollar index held near 103 on Thursday after losing about 1% over the past three sessions, weighed down by weaker-than-expected US economic data and improving risk sentiment globally. Second estimates showed that the US economy grew less than previously thought in Q2, while job creation slowed more than expected in August according to …
Dollar Holds Decline on Weak US Data and Improving Risk Sentiment Read More »
The flash US Composite PMI declined to 50.4 in August, the weakest upturn in activity since February and below market expectations of 52. A reading below 50 indicates contraction. The manufacturing sector contracted for the third consecutive month, with the flash manufacturing PMI falling to 47.5 in August, the lowest level since June 2020. The …