Author: FX
At 1200 GMT / 0700 US Eastern time Federal Reserve Bank of New York President John Williams will be speaking. He is participating in moderated discussion before a hybrid event, “Connecting Academics to Policy: A Conversation with New York Fed President John C. Williams” organized by the London School of Economics.Williams is a big wheel at the Federal Reserve. As head of the NY Fed Williams is vice chair of the Federal Open Market Committee (FOMC) and has a permanent vote on the Committee.The latest we’ve heard from Federal Reserve Chair Powell seems to indicate June is still a likely…
Share: Gold price halts its winning streak amid a stable US Dollar. Gold price received upward support on speculation of a Fed rate cut in June. Fed Chair Powell reiterated at potential rate cuts sometime in 2024. Gold price snaps its winning streak that began on February 28, correcting lower to near $2,160 per troy ounce during the Asian trading hours on Friday. The prices of yellow metal have been buoyed by market expectations of the Federal Reserve (Fed) potentially initiating an interest rate cut cycle starting in June. The upward momentum in Gold prices was further strengthened by…
US DOLLAR FORECAST – EUR/USD, USD/JPY, GBP/USDThe U.S. dollar and financial markets will be very sensitive to the upcoming U.S. jobs reportFebruary’s nonfarm payrolls data could guide the timing of the Fed’s easing cycleThis article discusses the technical outlook for EUR/USD, USD/JPY and GBP/USDMost Read: Gold Price Forecast – US Jobs Data to Energize Rally or Squash It, Possible ScenariosThe U.S. Bureau of Labor Statistics will release on Friday February’s U.S. nonfarm payrolls figures. The upcoming NFP survey holds the potential to ignite volatility and force investors to reassess the Federal Reverse’s monetary policy outlook, so traders should prepare for…
Ole Schwander Novo Nordisk (NVO) reportedly expects its popular weight-loss drug Wegovy to be approved in China this year, but plans to launch the product in the massive Asian market with capped volumes. Speaking at an investors meeting in Copenhagen, Christine Zhou Xiaping, head of Novo Nordisk’s China division, told listeners that the launch will focus first on patients paying out-of-pocket for the drug, according to Reuters. Wegovy, also known as semaglutide, belongs to a class of drugs known as GLP-1s, which are used to treat obesity and diabetes. Novo Nordisk markets a version of semaglutide for diabetes under the…
© Reuters. FILE PHOTO: U.S. Speaker of the House Mike Johnson (R-LA) walks towards microphones to make a statement to members of the news media after meeting with President Joe Biden, Vice President Kamala Harris, U.S. House Minority Leader Hakeem Jeffries (D-NY), S By David Morgan WASHINGTON (Reuters) – As the U.S. Congress struggles to pass legislation to fund the government through the fiscal year that began in October, House Republicans on Thursday sought to jump the gun on Democratic President Joe Biden by unveiling a plan for the next year. The plan aims to balance the federal budget within…
Will February’s U.S. labor market numbers support the Fed’s shift from restrictive to a less hawkish policy stance? We’re reviewing what the markets are expecting and how USD may react to this week’s event. Here’s what you need to know about the upcoming U.S. NFP release: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
ANZ research note yesterday, analysts see strong demand for gold: “Assuming the current pace of buying continues, we upgrade our demand estimates to 1,050t from 750t for 2023 and 800t for 2024″”The recent rally has been underpinned by a strong surge in investor demand, as the spectre of lower rates has been joined by strong safe-haven buying amid elevated geopolitical risks and an uncertain economic backdrop,”ANZ stay positive for the long term in gold, forecasting the price averaging more than USD2000 in 2024: This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Share: Gold’s rally propels it to an unprecedented $2,164.78, buoyed by expectations of easing policies from ECB and Fed. Despite ECB’s hawkish hold, Lagarde’s openness to June adjustments contrasts with rising US Treasury yields. Powell hints at easing, increasing June rate cut odds amid cooling US labor market signs. Gold witnessed an extension of the incumbent rally, hitting an all-time high of $2,164.78 and remaining on the path toward $2,200. The US Dollar tumbled across the board as major central banks like the European Central Bank (ECB) and the Federal Reserve (Fed) prepare to ease policy. On Thursday,…
CatLane/iStock via Getty Images A group of independent advisers to the U.S. Food and Drug Administration (FDA) voted unanimously to recommend changes to the flu vaccines this week to reflect only the currently circulating viral strains, a move that will potentially boost vaccine supplies. On Tuesday, the FDA’s Vaccines and Related Biological Products Advisory Committee recommended that quadrivalent flu vaccines be converted into trivalent vaccines for the 2024–2025 season. The group recommended against adding the vaccine component that targeted the B/Yamagata lineage in current four-in-one shots. B/Yamagata strain has not been detected since March 2020 amid COVID lockdowns and social…
2/2 © Reuters. European Commission President Ursula von der Leyen attends the College of European Commissioners’ meeting in Brussels, Belgium March 5, 2024. REUTERS/Yves Herman/File Photo 2/2 By Luiza Ilie and Gabriela Baczynska BUCHAREST/BRUSSELS (Reuters) -European Commission President Ursula von der Leyen on Thursday won the backing of the EU’s leading political group, the centre-right European People’s Party, to head the bloc’s powerful executive for another five years. The only candidate in the party’s ballot, von der Leyen listed the war in Ukraine, the crisis in Gaza destabilising the Middle East, and the rise of China as key challenges for…