Gold prices surged over $2,400 an ounce in early trading on Friday, hitting successive, never-before-contemplated highs in the wake of the very dovish statements from the European Central Bank and its head, Christine Lagarde, about a potential June rate cut. However, they quickly reversed course and retreated back under the $2,400 level after traders realized […]
Gold prices soar to record highs before retreating Read More »
Federal Reserve Bank of San Francisco President Mary Daly says there is no urgency to adjust interest rates, given a strong labor market, robust consumer spending, and a slower pace of moderation in the inflation rate in recent months. The US central bank still has “a lot of work to do” before it can be
Feds Daly says there is absolutely no urgency to cut rates Read More »
What’s ahead this week for markets? A lot of headaches, in addition to the usual flow of reports and data. US quarterlies and retail sales data, Australian jobs, inflation reports, exploration and production quarterlies, Chinese GDP, production, investment, and retail sales. But markets will now be watching for two issues: anything remotely inflationary, which brings
Market expectations for the week ahead Read More »
Two weeks after experiencing a price slide in late March and early April, world iron ore prices made a remarkable recovery last week, registering a substantial 15% gain. On Friday, the SGC price closed at $US111.15 a tonne, marking its highest point in five weeks. This resurgence defied the weakening trend observed in recent weeks,
World iron ore prices surge by 15% following recent dip Read More »
Shares in the oil major BP surged by 3.4% on Friday following reports that the United Arab Emirates’ (UAE) state-owned oil company had recently considered purchasing the UK-based company but withdrew from preliminary talks. The exact reason for the loss of interest remains unknown, but there is a UK law, the National Security and Investment
BP shares surge amidst UAE’s acquisition interest Read More »
The US March quarter reporting season accelerates this week with three more banks and Netflix down to be the most watched filers. The trio of big banks reporting this week are Bank of America, Goldman Sachs, and Morgan Stanley – which is reported to be facing increasing scrutiny from US regulators over some of its
US quarterly reporting season heats up Read More »
Reality struck Wall Street on Friday from various directions, setting up a nasty opening for the ASX this morning. Friday night’s share price futures platform had the ASX 200 staring at a 50-point loss when trading resumes this morning. That was after the ASX 200 Index dropped 25.5 points, or 0.3%, to 7788.1 at the
Reality strikes Wall Street Read More »
Concerns have risen after the Iranian retaliation against Israel and weaker than expected bank earnings overshadowed US markets on Friday. The Dow Jones closed down 1.24 per cent, the S&P 500 fell 1.46 per cent and the Nasdaq finished down 1.62 per cent for the day. On a weekly measure the S&P 500 gave up
Geopolitical concerns weigh heavily on US markets Read More »
