Brazil’s central bank chief Roberto Campos Neto on Monday highlighted a “huge” de-anchoring of inflation expectations in the country, adding that it is “very important” to bring inflation back to the 3% target, and policymakers are committed to doing so.
The dollar climbed on Monday, buoyed by a rise in U.S. bond yields, as solid U.S. economic data suggested the Federal Reserve can afford to be patient in cutting rates while investors positioned for the Nov. 5 presidential election.
Oil prices rose on Monday, recouping some of last week’s more than 7% decline, with no let up of fighting in the Middle East and the expectation of retaliatory Israeli attacks on Iran worrying markets about supply from the region.
The analysis focuses on the seven-month inverted expanding triangle, a key technical pattern that has been in place since March of this year without being breached. This pattern of lower highs and lower lows, according to the trader, signals that Bitcoin remains primed for a major move higher to as high as $150,000 per BTC.
Gold Futures for December delivery was up 0.28% or 7.70 to $2,737.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.88% or 1.29 to hit $69.98 a barrel, while the December Brent oil contract rose 1.56% or 1.14 to trade at $74.20 a barrel.
The European Central Bank is expected to make its first back-to-back rate cut in 13 years, and with markets pricing another cut in December, the tone and guidance in the press conference at 1245 GMT will be closely watched, even though some analysts do not always find President Christine Lagarde’s remarks helpful.
The U.S. dollar firmed on Wednesday, hitting an 11-week high, as investors ruled out a hefty interest rate cut from the Federal Reserve at the next policy meeting and priced in a potential election victory by former President Donald Trump.
In a Thursday note, the bank’s commodities team shared a cautious view on oil due to several factors influencing the market, including OPEC’s supply dynamics and non-OPEC production growth.
The psychological barrier of $70,000 is the first level you should watch. In the past, sellers have tended to intervene in this area as a point of resistance. Considering the momentum thus far, breaking through this level may set off a rapid upward move that could result in a new all-time high. As they get…
The world’s largest alternative asset manager posted adjusted earnings per share of $1.01, exceeding the consensus estimate of $0.98. Revenue came in at $3.66 billion, significantly above analysts’ projections of $2.68 billion.
