Author: FX
Gold Price extends gains around $2,171 amid the weaker USD. The upward momentum of gold prices is supported by the expectations of rate cuts by the Fed this year. The escalating geopolitical tensions in both Eastern Europe and the Middle East might lift the gold price. Gold Price (XAU/USD) extends its upside above the mid-$2,150 during the early Asian trading hours on Tuesday. The expectations of interest rate cuts by the US Federal Reserve (Fed) this year and the dovish remarks from Fed officials weigh on the US Dollar (USD) and provide some support to the US Dollar-denominated Gold. At…
Cindy Ord/Getty Images Entertainment Adam Neumann, the founder and former CEO of WeWork (OTC:WEWKQ), has made a more than $500M bid to buy back his former company, according to a media report. Although Neumann stepped down as CEO and gave up his majority voting control in September 2019, reports are he has wanted to get back in the saddle of WeWork for some time. The Wall Street Journal reported that Neumann’s attorneys sent a letter in February to the company’s advisers noting he was teaming up with hedge fund Third Point and others. Bloomberg reported in early February of a…
SlavkoSereda/iStock via Getty Images Crude oil futures rose Monday in the wake of escalating geopolitical worries following attacks in Russia and a bullish Goldman Sachs note on the outlook for commodities. Russia’s Kuibyshev oil refinery halted one of its two primary refining units, knocking out half of its capacity following a Ukraine drone attack over the weekend, Reuters reported; the strike was the eighth on Russian refineries in the last three weeks. The attack will knock another 35K bbl/day of Russian refinery capacity out of action, bringing a total of ~400K bbl/day offline on top of normal maintenance, StoneX’s energy…
© Reuters. In a recent flurry of activity, insiders at TruBridge, Inc. (NASDAQ:CPSI), a company specializing in computer programming services, have purchased a significant number of shares, signaling confidence in the company’s prospects. Over several transactions, insiders acquired shares with a combined value of approximately $998,295, at prices ranging from $9.313 to $9.435. The transactions were executed on three separate dates, with the first purchase occurring on March 21, 2024, where 40,000 shares were acquired at a weighted average price of $9.435. This was followed by a purchase of 41,000 shares on March 22 at an average price of $9.313.…
It’s good to be Ripple’s lawyers right now as the bills are about to run into the stratosphere. I’m not so sure it’s going to be anyone else at Ripple as they face a protracted legal fight.Ethereum is up 9.5% today despite similar murmurs about the US DOJ taking aim at the Ethereum Foundation and classifying it as a security. This article was written by Adam Button at www.forexlive.com. Source link
Mexican Peso benefits from US Dollar weaknesses, shrugging off Banxico rate cut. Banxico Governor emphasized cautious approach to rate adjustments, stressing ongoing inflation battle. Mixed economic updates from both Mexico and the US leave traders weighing Fed’s rate cut discourse against actual data. The Mexican Peso capitalized on broad US Dollar weakness on Monday, climbing more than 0.1% in the mid-North American session. A risk-off impulse was no excuse for the Mexican currency’s bulls despite last week’s interest rate cut by the Bank of Mexico (Banxico). Additionally, traders ignored comments from Federal Reserve’s (Fed) members as the Greenback remains pressured.…
NicoElNino Citi Research analysts raised the Stoxx 600 Index (STOXX) year-end target to 540, from 510, according to a Citi Research Macro Think Tank report. European earnings per share growth is estimated now at 6%, compared to 3%. “Our year-end target assumes no further multiple expansion from current levels, which could still be too conservative,” said Analyst Beata Manthey. This update is driven by a greater certainty on rate cuts — which Citi analysts believe will happen during the first two weeks of June — year-to-date global growth upgrades, and a likely weaker dollar. Analysts said micro risks are still…
© Reuters. In a recent move, Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:) ESG Capital Allocation Term Trust (NYSE:ECAT), has increased its stake in the company through a series of purchases. The investment firm acquired a total of 133,073 shares of common stock, with transactions valuing over $2.2 million. This activity took place on March 21 and March 22, signaling a bullish stance on the trust’s performance. The shares were bought at prices ranging from $16.97 to $17.02, reflecting a confident investment in the trust’s value and potential. After these transactions, Saba Capital Management’s holdings in BlackRock…
Gold Price and AnalysisGold’s backdrop remains positive and may lead to further gains.Retail trader positioning is 50/50. Recommended by Nick Cawley How to Trade Gold Last week’s rally saw gold post a fresh record high before a sharp sell-off left the precious metal relatively unchanged on the week. Last week the Federal Reserve gave markets a nudge that they are likely to shave 75 basis points off the Fed Fund rate this year, in line with prior messaging. The more positive tone taken by Fed Chair Powell gave the precious metal the impetus to post a new ATH before sellers…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…