The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on Tuesday, September 9. The preliminary revision will cover the 12-month period through March 2025 before the final benchmark revision is reported within the employment report of February 2026. "Official establishment survey estimates are not updated based on this preliminary benchmark revision. The final benchmark revision will be incorporated into official estimates with the publication of the January 2026 Employment Situation news release in...
Gold price retreats on Thursday following the release of mixed data from the United States (US) and as traders brace for the Jackson Hole Symposium, waiting for the Federal Reserve's (Fed) Chair Jerome Powell speech on Friday. The XAU/USD trades at $3,339, down 0.30%. The yellow metal choppy's price action seems to continue until Powell hits the stand. Solid economic data revealed by S&P Global showed that business activity is expanding solidly. The agency noted, "The data are consistent with the economy expanding at a 2.5% annualized rate, up from the average 1.3% expansion seen over...
Silver (XAG/USD) extends its rebound for a second consecutive day on Thursday, although upside could be limited by a stronger US Dollar (USD) and firm Treasury yields. At the time of writing, the metal is trading around $38.20, recovering from an intraday low near $37.50 touched during the European session. The US Dollar Index (DXY) climbs to a fresh one-week high near 98.50 after upbeat S&P Purchasing Managers Index (PMI) data reinforces optimism about the growth outlook. At the same time, weekly labor data shows US Initial Jobless Claims rising to an eight-week high, adding to signs...
Oil futures extended the previous day's gains following a large export-driven decline in US crude inventories, but remained within a wide price range as the market awaited developments on the Russia-Ukraine situation. US inventory data "suggests that oil demand remains relatively strong," while geopolitical and trade concerns kept traders cautious, said Rania Gule of XS.com in a note. "Price gains are likely to be limited and temporary, as the market faces medium-term oversupply risks, so long-term price support depends on stronger global demand or lower production," she added. WTI rose...
Gold fell around 0.6% to around $3,325/oz during Thursday's European session, after selling pressure emerged every time the price approached $3,350. The tone of the July FOMC minutes, which emphasized the need for clarity on the impact of tariffs on inflation, kept the market restrained and kept the US dollar strong - a combination that was less than favorable for gold. However, there are differing views within the Fed. Michelle Bowman and Christopher Waller believe a 25 bps cut is preferable because they prioritize cooling the labor market. Officially, the Fed held interest rates at...
Gold prices weakened slightly on Thursday (August 21st) after the minutes of the US Federal Reserve's July meeting showed a majority consensus to keep interest rates on hold, as investors awaited the central bank's annual Jackson Hole symposium later for further policy guidance. Spot gold prices fell 0.2% to $3,340.09 per ounce, as of 08:02 GMT. US gold futures for December delivery also fell 0.2% to $3,382.30. The minutes of the Fed's July meeting showed that policymakers who disagreed with last month's decision to keep interest rates on hold – Vice Chair Michelle Bowman and Governor...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...