Author: FX
Dow Jones follows other indices lower on Friday. UoM Consumer Sentiment Index ticked lower. June rate cut bets have edged down to 60%. The Dow Jones Industrial Average (DJIA) is down around half a percent as markets round the corner into the Friday closing bell with US equities broadly lower on the day. An extended pullback in the tech and telecoms sectors are dragging down the averages, with limited gains to keep the Dow Jones on-balance as markets buckle down for the weekend. According to the CME’s FedWatch Tool, rate futures are pricing in nearly a 41% chance of no rate…
The Greenback gears up to hold onto a 0.7% weekly gain. Sentiment data from the University of Michigan came in weak. On the bright side, Industrial Production data came in stronger than expected. The focus will now turn to next week’s FOMC meeting. The US Dollar Index (DXY) is registering slight gains at the level of 103.40 on Friday, rebounding from December lows amid rising US Treasury yields. This follows the release of hot inflation data this week. The resilience of strong economic indicators and a cautious stance from the Federal Reserve (Fed) against hasty easing offer potential for US…
Silver’s bullish streak leads above $25.00, defying broader market trends with over 1.40% gains. A new year-to-date high at $25.44 highlights XAG/USD’s resilience, with $26.00 now in sight as next resistance. Should Silver retreat below $25.00, a move towards $24.50 and potentially $24.01 could unfold, testing buyer strength. Silver’s price shines on Friday and registers solid gains of more than 1.40%, shrugging off Gold’s two consecutive days of losses. It rises 1.52%, trading at $25.18 a troy ounce at the time of writing. XAG/USD advanced even though the Greenback remains strong, underpinned by high US Treasury bond yields. XAG/USD Price…
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The three major indices are closing lower both on the day and for the trading week. The declines are led by the NASDAQ index. A snapshot of the final numbers shows:Dow industrial average -190.91 point or -0.49% at 38714.76S&P index -33.37 points or -0.65% at 5117.10NASDAQ index -155.37 points or -0.96% at 15973.16For the trading week, the Dow Industrial Average was near unchanged. The NASDAQ index was the weakest of the three:Dow industrial average, -0.02%.S&P index -0.13%NASDAQ index, -0.70%Looking at the small-cap Russell 2000 index it rose today but was down sharply on the week:Russell 2000+8.146 points or 0.40% at…
AUD/USD cycles just north of 0.6550. Little Aussie data to chew on leaves AUD/USD in the lurch. Next week: double-header showings from RBA and Fed. The AUD/USD is churning just above 0.6550 as markets prepare for next week’s double feature from the Reserve Bank of Australia (RBA) and the US Federal Reserve (Fed). Both central banks are broadly expected to hold interest rates steady as investors focus on when rate cuts will come. According to the CME’s FedWatch Tool, money markets were recently thrown a curve ball, and bets of a June rate cut from the Fed have eased to…
With a relatively light economic calendar and little central bank speak to add volatility in between top tier data, traders seemed to make most of their moves around U.S. inflation updates, which this week, lessened the case for the Fed rate cut argument. This was characterized in the broad market by the rally in bond yields and the Dollar recovering from its recent beatdown, while equities, crypto and gold gave back a bit of their early March gains. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable…
Empire press release (OTCPK:EMLAF): Q3 Non-GAAP EPS of C$0.62. Revenue of C$7.49B (flat Y/Y). Same-store sales, excluding fuel, increased by 1.9% Gross margin, excluding fuel, increased by 87 basis points, partially due to impact of the Cybersecurity Event(2) in the prior year Strong free cash flow generation of $349 million Share buyback program on track; Repurchased $340 million of shares to date in fiscal 2024. Source link
© Reuters. Director John Fitzgerald Biagas of Primis Financial Corp. (NASDAQ:FRST) has recently purchased shares of the company’s common stock, signaling a vote of confidence in the financial institution. The transaction, which took place on March 14, involved the acquisition of 2,100 shares at an average price of $11.856 per share, totaling approximately $24,897. The purchase was made public through a Form 4 filing with the Securities and Exchange Commission, which discloses insider trading activities. Following the transaction, Biagas now directly holds 64,133 shares of Primis Financial Corp. Additionally, it was noted that 10,233 shares are held in Biagas’s Individual…
ANZ highlights the unexpected resilience of physical gold demand despite the surge in prices, attributing steady global consumption levels to strong interest from China and India. The report discusses the potential limits to further demand growth due to the prolonged period of elevated prices.Key Points:Steady Global Consumption: Global gold demand remained consistent at 3,057t in 2023, closely aligning with the decade’s average despite record-high prices.China’s Strong Demand: A 16% year-on-year increase in China’s gold consumption to 959t in 2023, driven by pent-up demand and a shift towards value preservation amidst economic uncertainties.India’s Sustained Interest: India’s gold consumption slightly declined in…