The forex markets are extending near term corrective moves today, with Yen turning slightly stronger, followed by Swiss Franc. Canadian Dollar and Sterling are the weaker ones, followed by Dollar. The Loonie will look into BoC policy decision for guidance. Meanwhile, broader markets will look at development in overall risk sentiments. European indexes are trading
Month: October 2021
Euro Stoxx index comes off a record close reached yesterday The major European indices are closing lower on the day. It comes a day after the Euro Stoxx 600 index closed a record level yesterday. Today, the index was down -0.1%. Other provisional closes shows: German DAX, -0.4% France’s CAC, -0.2% UK’s FTSE 100, -0.3% Spain’s Ibex, -0.3% Italy’s
Surprise coming tomorrow? The consensus on US GDP tomorrow is 2.7%, which is a poor number that reflects a drag from delta in the quarter. Estimates range from +0.7% to +5.0% after a 6.7% pace in Q2. A separate tracker from the Atlanta Fed suggests it could be even worse than the lowest estimates, scraping
New Delhi: Gold in the national capital on Wednesday plunged by Rs 244 to Rs 46,747 per 10 gram reflecting the decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,991 per 10 gram. Silver dipped Rs 654 to Rs 63,489 per kilogram
Real estate agents arrive at a brokers tour showing a house for sale in San Rafael, California. Getty Images Mortgage rates have been on a tear this month, rising yet again last week to the highest level in eight months, according to the Mortgage Bankers Association. That caused mixed demand for mortgages last week, resulting
An employee works on the tail of a Boeing Co. Dreamliner 787 plane on the production line at the company’s final assembly facility in North Charleston, South Carolina. Travis Dove | Bloomberg | Getty Images Boeing on Wednesday said flaws in its 787 Dreamliners would cost it $1 billion in added costs and that it
The Bank of Canada (BoC) said in its fall Monetary Policy Report (MPR) that it lowered the 2021 Gross Domestic Product (GDP) growth forecast to 5.1% from 6% in July’s MPR. Key takeaways from MPR as summarized by Reuters “2021 Q2 annualized GDP was -1.1% (vs +2.0% in July MPR), Q3 annualized GDP seen +5.5% (vs
Australian Dollar rises broadly today with support from strong inflation data. But upside is capped by mildly negative investment sentiment in Asia. While DOW and S&P 500 made new records overnight, there is no follow through in risk-on sentiment. Overall currency markets are mixed, with Yen as second strongest so far. Dollar is the weakest
100/200 hour MAs at 157.02 area The GBPJPY is consolidating with the 100/200 hour MAs holding support at the US session lows. The two MAs come in around 157.02. The low price for the US session cuts across at 157.009. Since October 15, the pair has been between 155.918 and 158.211. The high from Wednesday
China Telecom’s U.S. subsidiary has been given 60 days to discontinue U.S. services after nearly 20 years of operating in the country. The U.S. Federal Communications Commission (FCC) voted on Tuesday voted to revoke authorization to operate, citing national security concerns: FCC said China Telecom “is subject to exploitation, influence, and control by the Chinese
(This story originally appeared in on Oct 27, 2021) Mumbai: Global financial major Goldman Sachs expects Brent crude prices to reach $110-per-barrel by next year, a 30% jump from the current levels of $85/bbl. Oil analysts at Goldman Sachs say that the global demand-supply mismatch, with the current demand almost near the pre-Covid levels, is
Economist David Rosenberg suggests hyperinflation warnings are irrational. The longtime bear, known for his contrarian views, blames rising prices on Covid-19-induced supply side shocks. According to Rosenberg, it’s wrong to assume the impact will cripple the economy and feed into runaway inflation. “I’m actually rolling my eyes over the suggestion,” the president of Rosenberg Research
In this article GOOGL Google CEO Sundar Pichai speaks during the Google I/O keynote session at Shoreline Amphitheatre in Mountain View, California on May 7, 2019. Josh Edelson | AFP | Getty Images Alphabet reported profit and earnings for the third quarter that topped analysts’ estimates. The company’s shares were little changed after the report.
Gold has been offered in a mixed session, with the US dollar holding at higher levels. The risk-on sentiment has dented the allure of the safe-haven metal. Central banks and economic data could love the needle over the next couple of weeks. Update: Gold price is looking to extend Tuesday’s sell-off, as the sellers find a
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Data archiving protocol, KYVE, has announced a Series B funding raise of $2.875M instigated by institutional capital firms Permanent Ventures and Hypersphere Ventures, and participated by a vast collection of crypto projects and individual angel investors including, but not limited to, Coinbase Ventures, Volt Capital, Justin Kan and Robin Chan. KYVE has expressed the ambition
Risk-on sentiment is pressuring Yen and Dollar today, while Euro and Swiss Franc are not too far away. On the other hand Sterling is the strongest, while Aussie leads other commodity currencies. US futures are trading higher suggesting that DOW and S&P 500 are on track to extend record ones. The question is whether buying
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