Goldman Sachs expects Brent prices to average at $92 per barrel (bbl)in 2024, and expects the oil market to tighten at a moderate pace amid solid demand while core OPEC supply remains low. The bank in a note dated Thursday said it expects a 0.7 million barrel per day (mb/d) deficit and a solid 1.6
Month: November 2023
Bitcoin (BTC) is nearing a key Fibonacci retracement level which could mark the top of its “pre-halving rally.” That is according to popular social media trader Titan of Crypto, who on Nov. 19 reiterated a pre-halving BTC price target of up to $50,000. Trader: $39,000 is pre-halving BTC price target range floor Bitcoin faces stiff
Share: The AUD/JPY saw a late break higher in Friday’s broad-market sentiment recovery. The Aussie is catching a bounce from the 200-hour SMA and a rising trendline. The technicals are leaning bullish with more upside on the cards, but headwinds remain. The AUD/JPY snuck over the 97.50 level just ahead of the Friday closing bell,
Dollar notably emerged as the weakest performer among global currencies last week. This decline was primarily driven by robust risk-on sentiment pervading global markets and noticeable dip in treasury yields, not just in the US but globally. A key factor influencing this trend is the growing belief among investors that most major central banks, including
Soaring U.S. government debt is reaching a point where it will begin creating larger problems, Bridgewater Associates founder Ray Dalio said Friday. The hedge fund titan warned during a CNBC appearance that the need to borrow more and more to cover deficits will exacerbate the political and social problems the country is facing. “Economically strong
In this article GPS Follow your favorite stocksCREATE FREE ACCOUNT A Gap retail store sign on September 20, 2022 in Los Angeles, California. Allison Dinner | Getty Images Gap posted a better-than-expected third quarter on Thursday, but the apparel retailer still appears cautious ahead of the holiday season as it works to reverse slowdowns at
The GBPUSD is back below its 200 day moving average The GBPUSD ran higher yesterday, and in the process extended toward its 100-day moving average near 1.2512. The high price got within 7 pips of that level at 1.2505 before rotating back to the downside. In trading today, lower-than-expected CPI data out of the UK
The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs: Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points. S&P index rose 7.18 points or 0.16% at 4502.89. At session highs, the index was
Gold extended gains on Wednesday buoyed by a weaker dollar index (DXY) which slipped below the 105 mark after US inflation data showed a slowing trend bolstering views that the US Federal Reserve is likely done with its rate-hike campaign. The December gold futures were trading at Rs 60,195 per 10 gram, down by Rs
Generative art is proving Web3’s creative anchor in the traditional art world. Last month, New York’s Museum of Modern Art (MoMA) made headlines by acquiring Refik Anadol’s “Unsupervised — Machine Hallucinations” (2022) alongside an edition from last year’s “3FACE” project by Ian Cheng. These two mark the first-ever artificial intelligence (AI) and nonfungible token (NFT)
Share: Producer inflation in the US continued to decelerate in October. US Dollar Index stays in daily range above 104.00 after the PPI data. The Producer Price Index (PPI) for final demand in the US rose 1.3% on a yearly basis in October, down from the 2.2% increase recorded in September, the data published by the US
Dollar remains subdued in the aftermath of its significant selloff triggered by CPI release overnight. Market sentiment has swiftly shifted, with the majority now almost ruling out the possibility of further rate hikes by Fed. This shift indicates a growing consensus that current federal funds rate of 5.25-5.50% marks the peak of this cycle. Moreover,
Inflation was flat in October from the previous month, providing a hopeful sign that stubbornly high prices are easing their grip on the U.S. economy and giving a potential green light to the Federal Reserve to stop raising interest rates. The consumer price index, which measures a broad basket of commonly used goods and services,
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT A Target department store in North Miami Beach, Florida, on May 17, 2023. Joe Raedle | Getty Images Target will report fiscal third-quarter earnings on Wednesday, as the company tries to claw its way back from a string of disappointing results and high-profile setbacks. Investors
S&P indexes moving above its 100 day moving average The S&P index is currently trading near session highs, up 60.44 points or 1.39% at 4407.92, and in the process has broken above its 100-day moving average of 4402.47 (see the blue line in the chart above). The last time it traded above this moving average
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Many festivals in India are considered auspicious to buy Gold, and Dhanteras is among the favourites. In India, people invest in Gold for long-term gains. That is why Indian households have the highest reserves of Gold, roughly 21000 tonnes. Gold is very close to Indian’s hearts and is a more sentimental investment than a speculative
Share: HSBC hands TSLA stock a Reduce rating and price target of $146. Tesla stock is consolidating right on top of $210 support level. HSBC analyst says too much of Tesla growth story comes at end of decade. President Joe Biden supports UAW attempt to unionize Tesla factories. Tesla (TSLA) stock is holding onto a