Today's Analysis

20

May 2024
The gold rush: XAUUSD soars past $2,430 

Key Points:  Gold reaches a record high of $2,430 per ounce amid speculation of Federal Reserve interest rate cuts.  Rising geopolitical tensions and strong central bank purchases bolster gold prices.  Gold (Symbol: XAUUSD) climbed past $2,430 per ounce on Monday, …

17

May 2024
US stocks pullback: Rising bond yields and hawkish Fed comments  

Key Points:  Optimism for US stock indexes shortlived since the US inflation data was announced, making record highs and then closing lower.  Such pullback was mainly attributed to the rise in bond yields.  Hawkish comments from Fed officials weighed on stocks.  …

17

May 2024
Japan’s Nikkei falls on Wall Street weakness and BOJ uncertainty

Key points: Nikkei ends lower after a three-day winning streak, influenced by Wall Street and BOJ policy. Broader Topix index posts a weekly gain despite early losses. Japan’s Nikkei share average snapped a three-day winning streak to close lower on …

17

May 2024
Oil poised for weekly gain on rising demand

Key points: Oil prices rise on improving demand signals from China and the US. Brent crude and WTI crude futures are set for weekly gains. Oil prices increased on Friday, with global benchmark Brent set for its first weekly gain …

17

May 2024
US Dollar Index (DXY) declined as inflation eases: Markets rally on rate cuts optimism 

Key Points:  The US Dollar Index (DYX) falls 1% after US inflation data shows decline.  Major currencies rose against USD, while gold prices jumped to the $2,400 price level.  Lower inflation rekindles hopes of Federal Reserve rate cuts.  The US …

16

May 2024
Aussie dips on weak employment reports and wage growth slowdown

Key Points:  Australian dollar drops below $0.67 against the US dollar following weak employment data.  Increased unemployment and slow wage growth reduce rate hike expectations.  With optimism in economy of China, the Australian dollar may be bolstered as it is …

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