Month: June 2021

BTC had been resilient  The hawkish Fed shift strengthened the USD, but BTC had been fairly firm.  However, there is now some weakness and this could be a delayed reaction to all that USD strength. Also some more China mine closures being touted as reasons for weakness today.  If $30,000 breaks expects stops to be
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50 hour MA at 14060 The Nasdaq index has moved back lower after a rebound from opening levels. The price is back down retesting the 50 hour MA at 14060 area.  A move below that MA, should solicit more selling momentum. For the S&P index, it as already cracked below it’s 50, 100 MAs. Today, the index opened below
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USD/INR reverses Friday’s pullback from late April lows. US dollar remains firmer amid Fed rate-hike, tapering concerns. RBI’s push for more reserves for trade exerts additional downside pressure. Fedspeak, Chicago Fed National Activity Index and Indian Balance of Payment eyed. USD/INR bulls keep reins around 74.25, up 0.16% intraday, amid the initial Indian trading session
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Second quarter growth estimate declines Powell yesterday highlighted an ongoing improvement in US data but the New York Fed’s growth tracker isn’t showing that. In light of the latest numbers, it was lowered to 3.69% from 4.20% a week ago. The Q3 indicator was also cut to 4.4% from 5.3%. “Negative surprises from advanced retail
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Dollar is maintaining much of this week’s gains as focus now turns to FOMC statement and economic projections. There is prospect of further rally for the greenback should some policymakers pull ahead their rate hike expectations. But the overall reactions would more depend on interaction with other markets like stocks and yield. As for the
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What you need to know on Monday, June 21: The greenback kept rallying on Friday, posting its best weekly performance for this year. The advance was an extension of the post-Fed rally, as the US central bank catch investors off guard by bringing forward chances of rate hikes to 2023. Stocks fell in Europe and
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China loans up Reuters reports that China has bought at least eight cargoes of US soybeans today. They are mostly for October delivery. The report notes that they had previously booked 3.05 mt and this would add at least 0.48 mt more. Prices of soybeans on the front month fell 7% yesterday but have bounced
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NEW YORK: Oil futures rose on Friday, reversing early losses and set for a fourth week of gains after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices. Officials at the Organization of the Petroleum Exporting Countries got the U.S. production outlook from industry experts, OPEC sources
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