Gold recovers some of its losses as the US government shutdown becomes the longest in history After falling by more than 1.30% on Tuesday, gold rebounded, recovering a significant portion of its losses in midday trading on Wednesday, November 5th, despite a stronger US dollar. This recovery was supported by increased demand for safe-haven assets and the ongoing US government...
Cryptocurrencies declined in midday trading on Tuesday, November 4th, marking their second consecutive session of losses. This decline coincided with a wave of profit-taking and a continued drop in market capitalization, with altcoins leading the losses. Institutional demand slowed, with the pace of new coin issuance decreasing for the first time in seven months. Reports indicated that approximately $1.27 billion...
At its meeting this morning, Tuesday, November 4, the RBA's Governing Council decided to maintain the cash rate at 3.60%, as expected, for the second consecutive meeting, following three rate cuts this year in February, May, and August. The bank's policy statement indicated that inflation has declined significantly since its peak in 2022, with higher interest rates helping to balance...
Gold prices stabilized in the middle of the European session on Monday, November 3rd, the opening session of the week, with some declines. This was influenced by the strengthening US dollar, which was weakened by reduced expectations of a US interest rate cut, in addition to Beijing's decision to end the tax exemption policy applied to some gold retailers. The...
Crude oil prices rose at the start of trading in Europe on Monday, November 3rd, the opening session of the week, following OPEC+'s decision to increase production and suspend further increases in the first quarter of next year. This decision, made at a meeting held over the weekend, supported crude markets and eased concerns about oversupply. Brent crude rose by...
Canada's gross domestic product (GDP) contracted by 0.3% in August, according to data released moments ago by Statistics Canada. This follows a revised 0.3% increase in July, which fell short of expectations (0.0%), coinciding with declines in both the goods and services sectors. Specifically, goods-producing industries fell by 0.6% in August, marking their fifth contraction since the beginning of the...
Eurostat, the European Union's statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 2.1% in October, according to the preliminary reading, compared to 2.2% in September, matching market expectations. The largest contribution to inflation in September came from the services sector, which rose to 3.4% from 3.2% in September. The food, alcoholic beverages, and...
At its meeting earlier today, Thursday, October 30, the ECB decided to maintain its three main interest rates at their current levels. The deposit rate remains at 2% the main refinancing operation rate at 2.15%, and the lending facility rate at 2.40%. This marks the third consecutive meeting where the ECB has held its rates steady, following seven consecutive rate...
The Bank of Japan decided at its meeting that concluded this morning, Thursday, October 30, to maintain its monetary policy and interest rates unchanged. A majority of 7-2 voted to keep the interest rate at 0.50%, as expected, while two members voted to raise the rate by 25 basis points. The Bank of Japan's quarterly outlook report showed the bank...
The US Federal Reserve, in its meeting that concluded moments ago today, Wednesday, October 29, decided to cut interest rates by 25 basis points to 4.00%, as expected. This is the second rate cut this year. All members voted in favor except Stephen Miran, who preferred a 50-basis-point reduction, while member Jeffrey voted against cutting rates. The Fed's interest rate...