The Dow Jones slipped back below 43,000 on Tuesday. Markets are softer on Tuesday after ripping into new records this week. Weak points in tech sector are leading equities lower despite broad earnings beats. The Dow Jones Industrial Average (DJIA) trimmed lower on Tuesday despite starting the day with a fresh all-time peak bid. The
Canadian Dollar weakens broadly decline in early US session following weaker-than-expected inflation data. The drop in headline CPI, driven primarily by falling gasoline prices, was steeper than anticipated. However, core inflation measures, especially the closely-watched CPI common, remained near 2% level. This further solidifies expectations that BoC would accelerate its policy easing, with a 50bps
Fundamental Overview The bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Leading commodity bourse MCX on Tuesday announced the launch of cotton seed wash oil futures. Each contract will have a trading unit of 5 tonne with a base value quoted in Rupee per 10 kg at Ex-Tank Kadi, Gujarat, MCX said in a statement. The margin requirement for entering into the contract is approximately 12
In this article C Follow your favorite stocksCREATE FREE ACCOUNT The Citibank building in Canada Square at the heart of Canary Wharf financial district in London on May 7, 2024. Mike Kemp | In Pictures | Getty Images Citigroup reported third-quarter results Tuesday that topped Wall Street expectations, with growth in investment banking and wealth
The USD/CAD pair may find the barrier around the upper boundary of the ascending channel at the 1.3870 level. The 14-day RSI signals an overbought condition, suggesting that a potential downward correction could be on the horizon. Potential support appears at the lower boundary of the ascending channel around the 1.3770 level. USD/CAD continues its
The Monday Asian session started quietly with Japan on holiday and the US and Canada on extended weekends. Market reactions to China’s Minister of Finance press briefing over the weekend have been subdued, as traders await further details regarding China’s anticipated fiscal stimulus. Without specifics, it’s difficult to gauge the broader impact on the country’s
The EURJPY has been forming a ceiling over the last few weeks of trading. That ceiling comes between 163.478 and 163.60. Today’s high stalled against that level and rotated to the downside. The current price trades at 163.293. Although lower, there is a key target on the downside that needs to be broken if the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Central banks remain keen buyers of gold to diversify their reserves for financial or strategic reasons, representatives of three central banks told the London Bullion Market Association’s annual conference in Miami on Monday. Elevated demand for gold from central banks underpinned the price of the non-yielding gold when the global interest rates were high in
Apple stock jumped Monday after a Wall Street firm touted the iPhone maker ahead of its quarterly earnings report. The news Evercore ISI added Apple to the firm’s tactical outperform list, helping shares climb more than 1% in Monday’s session. Analysts said Apple’s stock may be able to advance higher on a late October earnings
Federal Reserve (Fed) Board of Governors member Christopher Waller noted on Monday that recent US inflation data was a “disappointment”, threading the needle between dangling an increase in the pace of Fed rate cuts in the future while also expressing caution at the current pace. Key highlights I am less certain on destination than policy direction.
Dollar is broadly stronger today in what is otherwise a quiet trading session. With US markets closed for holiday, overall activity has been subdued. However, Dollar bulls seem to be taking advantage of the thinner liquidity to push the greenback higher. The anticipation of further interest rate cuts from ECB this week, and more to
The USDCHF is making a “break for it” above its 38.2% retracement of the move down from the early July high. That level comes in at 0.86312. The current price is trading at 0.8639. Today, the price also moved above a swing area between 0.86078 and 0.8619. That area is a more conservative risk level
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices rose Rs 200 to revisit the all-time high of Rs 78,700 per 10 grams in the national capital on Monday on persistent buying by stockists and traders even as the precious metal lost steam globally, according to the All India Sarafa Association. The yellow metal had closed at Rs 78,500 per 10 grams
Gold price reverses an Asian session dip and climbs to over a one-week top on Monday. Geopolitical risks and bets that the Fed will cut rates continue to underpin the XAU/USD. Odds for a less aggressive Fed easing boost the USD and might cap gains for the commodity. Gold price (XAU/USD) turns positive for the
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