Author: FX
Goldman Sachs Research anticipates a bullish outlook for gold, projecting prices to reach $2,900 per ounce by early 2025, up from a prior forecast of $2,700. This optimism is largely attributed to a surge in gold purchases by central banks, especially in emerging markets. Traditionally, gold prices align closely with interest rate trends—lower rates often boost gold’s appeal as a non-yielding asset. However, significant central bank buying since 2022 has shifted this dynamic, with Goldman estimating that an additional 100 tonnes of physical gold demand can lift prices by around 2.4%.This surge in demand is partly driven by a desire…
By Lizbeth Diaz MEXICO CITY (Reuters) – Mexican Supreme Court Justice Alfredo Gutierrez will resign from the court at the end of August 2025, he said in a letter to Senate leadership on Tuesday, the first of several resignations expected following a controversial new judicial reform. The move further heightens tensions between Mexico’s Supreme Court and the governing ruling bloc, increasing the risk of a constitutional crisis with the two powers at loggerheads over the reform. Mexico is set to choose new Supreme Court justices in an election in June as part of the judiciary’s overhaul. Current justices wishing to…
The US dollar held steady, finishing almost unchanged from Monday’s close. This stability came amid a slowdown in the rally of US yields, ongoing uncertainty ahead of the US election, and anticipation of key US data releases. Here is what you need to know on Wednesday, October 30: The US Dollar Index (DXY) kept its inconclusive price action in the low-104.00 against the backdrop of a widespread cautious trade in the global markets. The usual MBA’s Mortgage Applications is due, seconded by the ADP Employment Change, the advanced Q3 GDP Growth Rate, Pending Home Sales, and the EIA’s weekly report…
If people cared about the environment as much as U.S. debt, we might have hit net zero emissions by now. But why think about the planet when it’s easier to predict the collapse of the world’s biggest economy?Every week or so, someone expresses deep concern about rising U.S. debt. Recently, Robert Kiyosaki, then Elon Musk, and now the CEO of Goldman Sachs, weighed in, urging trouble for the country.To put it in perspective, the U.S. national debt is nearing $36 trillion (about 119% of GDP). It has increased more than 8% in the past year because of spending increases approved…
USD/CAD rallies up to a zone of resistance from historic highs at the top of a long-term range. The pair’s strong rally could begin to wane in the face of the firm resistance. There are no signs yet of a reversal lower, however, and the short and medium-term trends remain “up”. USD/CAD reaches the top of a multi-year range and it is probable the pair will meet stiff technical resistance at these levels. USD/CAD Daily Chart USD/CAD has reached a zone (orange shaded rectangle) in the 1.3800s and 1.3900s composed of resistance from historic highs. These include the August 2024…
Prior month 0.2% (revised from 0.1%)Wholesale inventories for September 2024 -0.1%Retail inventories X auto +0.1% versus 0.5% last month This article was written by Greg Michalowski at www.forexlive.com. Source link
HDFCLIFE Elliott Wave technical analysis Function: Larger Trend Higher (Intermediate degree Wave (3), orange) Mode: Motive Structure: Impulse Position: Minute Wave ((v)) Navy Details: Minute Wave ((v)) Navy is progressing higher within Minor Wave 3 Grey of Intermediate Wave (3) Orange. Potential upside target is seen towards 797 mark. No change. HDFC Life Insurance daily chart technical analysis and potential Elliott Wave counts: HDFC Life Insurance daily chart is indicating potential rally towards 797 mark in the near term as Minute Wave ((v)) of Minor Wave 3 of Intermediate Wave (3) unfolds against 666. A break below 666 would confirm the alternate…
Do you think Australia could post another hotter-than-expected CPI report and keep hawkish RBA expectations in play? Our Event Guide for the Q3 Australian CPI release suggests that another upside inflation surprise could be enough to dash hopes for any central bank easing. Check out these potential support zones on AUD/NZD and AUD/CHF! 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
CAIRO (Reuters) – At least 60 Palestinians were killed and dozens wounded in an Israeli strike on a residential building in the northern Gaza town of Beit Lahiya on Tuesday, the Gaza health ministry said. Marwan Al-Hams, an official at the health ministry in the Hamas-run enclave, said 17 other people were missing, adding they would be counted as dead, and 150 people were wounded. Medics said 20 children were among the dead. There was no immediate Israeli comment. Video footage obtained by Reuters showed several bodies wrapped in blankets on the ground outside a bombed four-storey building. More bodies…
S&P 500 futures are flat as we look towards the start of European morning trade later. It’s a quiet one for now, following the slight advance from yesterday.Higher yields continue to be a key consideration for stocks at the moment. But for trading this week, it’s going to be a rather tricky one.We have a slew of US data during the week, which will be capped off by the non-farm payrolls report on Friday. The PCE price index on Thursday is also a standout in that regard. Then, there’s key earnings releases from big tech as seen here. And then,…