At 9:53 ET, the Dow Jones Index rose 18 points or less than 0.1%, while the S&P 500 increased by 0.1%, and the NASDAQ Composite rose by 0.3%. This week includes earnings reports from major companies, including Goldman Sachs (NYSE: GS), Tesla, Inc. (NASDAQ: TSLA), and Netflix (NASDAQ: NFLX). They are following up on last week's reports from big banks, including...
Retail sales data for June and China's second-quarter Gross Domestic Product (GDP) growth data will be closely watched by market participants in the early trading hours of the Asian session on Monday. China's economy has lost momentum after a strong first quarter driven by economic reopening. The People's Bank of China has taken actions, including policy rate...
Despite the lower-than-expected inflation, which may prompt some traders to cover short positions and ultimately provide much-needed support for gold, the overall accumulation has been stronger than anticipated in recent weeks, and the clear trend of the Fed is to raise interest rates again, indicating a 25 bps rate hike is still on the table for the July FOMC...
The price of gold has increased due to the decline in the US dollar and the decrease in bond yields following poor economic indicators, raising doubts about whether the Federal Reserve (Fed) can continue its hawkish stance. Edward Moya, a senior market analyst at OANDA, stated, "The market last week seemed to be pricing in that the Fed would hike rates more, but...
Gold is also under pressure as funds flow back into many stock markets following the reduced political risk in Russia. However, the Russia-Ukraine conflict still carries significant risks, which is a positive factor for gold. In addition, many countries are shifting their monetary policies from tightening to easing in order to revive their economies. These...
ISM will release the Manufacturing PMI report for June on Monday. In the case of a headline recovery above 50, the USD may continue to maintain its recovery against its counterparts. Investors will also pay attention to the employment component of the survey. A surprise decline below 50 in this index could limit the upside potential of the USD, even if the report...