Gold Declines Over 1% as Dollar Strengthens and Yields Surge in Response to Hawkish Fed Remarks by Waller LeapRate

January 17, 2024 BY Elizabeth Anderson

Gold Declines Over 1% as Dollar Strengthens and Yields Surge in Response to Hawkish Fed Remarks by Waller

According to a Reuters report, spot gold was down by 1.3%, reaching $2,027.26 per ounce, following three consecutive sessions of gains at 2:36 p.m. E.T. (19:36 GMT). U.S. gold futures also settled more than 1% lower at $2,030.2. A senior analyst at Kitco Metals, Jim Wyckoff, commented: Strong gains in the U.S. dollar index are…

January 17, 2024 BY Elizabeth Anderson

Weekly data: focus on inflation

There was no significant activity among major central banks last week, but expectations of a single cut by the Federal Reserve (‘the Fed’) at the end of this quarter remain high. According to CME FedWatch Tool, around 55% of participants expect five cuts to the funds rate between 20 March and 18 September, which would…

January 16, 2024 BY Elizabeth Anderson

Economists gather at Davos to discuss global outlook

The survey, conducted at the beginning of each year before the World Economic Forum's (WEF) annual meeting in the Swiss resort of Davos, collects data from over 60 chief global economists in both public and private sectors and aims to educate policymakers on worldwide economics. Many of the surveyed experts noted that the disruptive impact…

January 15, 2024 BY Elizabeth Anderson

Ashmore suggest emerging markets will rebound in 2024

Ashmore’s CEO Mark Coombs noted the uptick in investment performance in Q4 of 2023 as talk of cuts spread across markets. According to Yahoo Finance, Ashmore’s funds managed to offset negative flows of $1.6bn in Q4 and gained a positive investment of $3.9bn in the same period. Coombs noted: Emerging Markets delivered good returns and…

January 10, 2024 BY Elizabeth Anderson

Boeing and Alaska Airline flight mistake causes share price to drop

This acknowledgment comes amid a significant drop in Boeing's stock, with a decline of 8% on Monday and an additional 1.5% on Tuesday, raising concerns among investors about potential business repercussions. The incident forced an emergency landing shortly after takeoff from Portland, Oregon. In response, the Federal Aviation Administration (FAA) ordered the temporary grounding of…

January 08, 2024 BY Elizabeth Anderson

Storms and strikes not flooding the positive outlook on the UK economy

As traders recently turned bullish on the sterling for the first time in three months, analysts believe the UK economy, which spent most of 2023 on the rim of recession, is on the rise. Bloomberg reports that stocks are also stronger, according to the latest retail statistics. Realistically, this outlook can sour very quickly, especially…

December 29, 2023 BY Elizabeth Anderson

Nvidia leads the Magnificent 7 stocks into 2024

Nvidia’s AI chips contributed to the company’s revenue growth, which sits at 85% higher than the same period year-over-year, most significantly in Q3 of 2023. Although the company’s net income is 13 times higher than in December 2022, it made the most instrumental gains in Q1, 2 and 3 of this year, and experienced a…

December 28, 2023 BY Elizabeth Anderson

PwC backs UK economy and predicts a healthy 2024

According to recent data, the BoE’s targets are a little pessimistic when compared to their predictions, especially considering inflation fell to its lowest in two years at 3.9% in November 2023. PwC has warned the BoE that “increased inflationary pressures” will persist in either outcome but that a decrease in global energy prices could help…

December 27, 2023 BY Elizabeth Anderson

easyJet share price up 15% this month

Investor sentiment favours the low-cost short-haul airline over IAG, which specialises in longer-haul flights, and experts note that a strong jobs market in Europe is contributing to an increased demand for short-haul air travel. Longer flight times have yet to pick up since the end of the COVID-19 pandemic despite a strong macroeconomic outlook. Don’t…

December 22, 2023 BY Elizabeth Anderson

Oil prices down by more than $1 after Angolan exit from OPEC

At a stage, brent crude was down 1.63% at $1.30 per barrel. US West Texas Intermediate crude clocked a 1.60% or $1.19 loss. Reportedly, in November, OPEC proposed cutting Angola’s 2024 production quota, which is approximately 1.1 million barrels per day. Reuters quoted a UBS analyst who commented: From an oil market supply perspective, the…

Category: Market News