European stocks fell after a sluggish session on Wall Street, weighed down by disappointing results from L'Oréal SA and Hermes International SCA. The Stoxx Europe 600 fell 0.3% as of 8:17 a.m. in London. The technology sector fell 1.2% after Texas Instruments Inc. provided a weaker-than-expected outlook, adding to concerns that the semiconductor industry's recovery is faltering. Meanwhile, mining and energy stocks led gains. Britain's FTSE 100 Index outperformed, rising 0.5%, as easing inflation reinforced expectations that the Bank of England will cut interest rates in the coming months....
Gold (XAU/USD) is trading with a moderate positive tone on Friday following the sharp sell-off earlier this week. Cooler-than-expected US Personal Consumption Expenditures (PCE) Price Index data on Friday has increased selling pressure on the US Dollar, although the precious metal is struggling to put a significant distance from the one-month lows hit this week. PCE Inflation has increased 0.1% in November, against expectations of a 0.2% increment. The yearly rate accelerated to 2.4% from the previous month's 2.3% reading, still below the 2.5% anticipated by the market consensus. Likewise,...
Gold (XAU/USD) is trading on a modest positive note on Friday after a sharp sell-off earlier this week. However, upside attempts remain limited as investors gear up for the release of the US Personal Consumption Expenditures (PCE) Price Index. On Thursday, an upward revision to the US Gross Domestic Product (GDP) in the third quarter, and lower-than-expected Jobless Claims have supported the Federal Reserve's (Fed) hawkish stance for 2025. This has kept the US Dollar index stuck near a two-year high ahead of the release of the Fed's favorite inflation gauge. Investors are waiting to see...
Silver (XAG/USD) prices traded in a tight range around $29.00 in the European trading session on Friday. The white metal consolidated as investors await the US (US) core Personal Consumption Expenditures (PCE) Price Index data for November, due at 13:30 GMT. Economists expect the US annual core PCE inflation data to rise to 2.9% from 2.8% in October. On a monthly basis, the underlying inflation data is expected to grow steadily at 0.2%. Signs of a mild slowdown in price pressures are unlikely to affect market expectations that the Federal Reserve (Fed) will halt its policy easing at its...
The U.S. dollar eased slightly on Friday, taking a breather after a strong rally this week as traders awaited the release of the Fed's preferred inflation gauge. At 4:40 AM ET (09:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.2% lower at 107.960, after rising to a two-year high earlier this week. Dollar Set for Weekly Gain The dollar index dipped slightly on Friday, but was still headed for a weekly gain of around 1%, supported by a relatively hawkish outlook for U.S. interest rates after the Federal Reserve's final policy...
Oil prices fell on Friday on concerns about demand growth in 2025, especially in the world's biggest crude importer, China, leaving the global oil benchmark on track to end the week down nearly 3%. Brent crude futures were down 33 cents, or 0.45%, at $72.55 a barrel by 0730 GMT. U.S. West Texas Intermediate crude futures were down 32 cents, or 0.46%, at $69.06 a barrel. China's state-owned refiner Sinopec (OTC:SHIIY) said in its annual energy outlook released on Thursday that China's crude imports could peak as early as 2025 and the country's oil consumption would peak in 2027 as demand...