Gold Resume Gains Ahead of Powell’s Testimony

Gold Resume prices have recently caught the eye of investors, especially with significant events such as Federal Reserve Chair Jerome Powell’s upcoming Congressional testimony. The intricate dance between gold prices, the dollar, and US economic data sets the stage for understanding the dynamics at play. So, what’s driving these gold price movements, and what should…

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Yen Moves gains in Asian trade on Monday against a basket of major currencies, continuing its upward trend for the third consecutive session and distancing itself from 38-year lows. This surge in the yen follows speculation that the Bank of Japan (BoJ) intervened in the forex market to bolster the currency during the US holiday…

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Dollar Trades Near continued its downward trend in European trade on Thursday, sliding against a basket of major currencies and nearing three-week lows. This decline marks the dollar’s sixth consecutive session of losses, triggered by disappointing economic data that suggests a faster-than-expected slowdown in the US economy during the second quarter. The Index The dollar…

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Wall Street Close today in observance of the Fourth of July holiday, with trading activities scheduled to resume tomorrow. This annual closure provides a brief pause in market activity, allowing investors to celebrate Independence Day while reflecting on the state of the markets. Significance of Market Closures Market holidays, such as the Fourth of July,…

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Euro About surged in European trade on Friday, extending its winning streak against major rivals for the seventh consecutive session. This impressive rally has propelled the Euro to three-week highs, poised to record its largest weekly profit in 2024. The upcoming final round of the French Parliamentary elections plays a significant role in this trend.…

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Wall Street Rise saw a positive uptick on Friday following the release of a mixed payrolls report. The majority of US stock indices posted gains as investors digested the latest employment data. Mixed Payrolls Report The latest government data revealed that the US economy added 206,000 new jobs in June, surpassing analysts’ expectations of 200,000.…

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Bitcoin Extends on a winning streak, rising for the third consecutive session on Monday and hitting two-week highs. This surge is attributed to a robust risk appetite in the market. Several factors are contributing to this positive sentiment, including political developments in France and optimistic economic data from the US. Let’s explore these dynamics in…

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Gold Prices Dip Ahead experienced a decline in European trade on Tuesday, marking a retreat from recent highs. This dip comes as the market anticipates Federal Reserve Chair Jerome Powell’s upcoming speech in Portugal, which could provide insights into future monetary policy. The interplay between gold prices, the dollar, and interest rate expectations forms the…

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Fed Chair Jerome Powell has recently emphasized the need for continued efforts to control inflation before considering any interest rate cuts. Speaking at the Central Banks Forum in Portugal, Powell highlighted the risks of moving too quickly on rate adjustments and outlined the Federal Reserve’s cautious approach to monetary policy. This article delves into Powell’s…

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Euro Moves Higher on an upward trajectory, rising against the dollar for the fifth straight session and approaching three-week highs. This surge follows optimistic remarks from European Central Bank (ECB) President Christine Lagarde, which have significantly influenced market expectations. Current Market Performance In European trade on Wednesday, the euro rose by 0.2% to $1.0762, with…

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