The selloff in Yen remains the major theme in the market today, but both Dollar and Euro are also now under some pressure. For now, New Zealand Dollar is winning the race, followed by Aussie and Sterling. Swiss Franc and Canadian Dollar are mixed. In other markets, major European indexes are trading slightly in black,
Month: March 2022
A home is offered for sale on January 20, 2022 in Chicago, Illinois. Scott Olson | Getty Images The average rate on the popular 30-year fixed mortgage hit 4.72% Tuesday, moving 26 basis points higher since just Friday, according to Mortgage News Daily. As a result of the recent spike in rates, economists are now
Silver has stabilised around $24.80 in recent trade despite further upside for US equities and bond yields. Geopolitical risks remain elevated as Russo-Ukraine war continues and Western leaders sound the alarm about potential Russian chemical weapons attacks. For now, support at $24.50 is holding, but a bearish break could see the 200 and 50DMAs at
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Japanese cryptocurrency exchanges are reportedly moving to increase competition with foreign crypto trading platforms by planning to simplify the process of listing new cryptocurrencies. The Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulatory body of 31 local crypto exchanges, is preparing to release a “green list” of 18 widely-accepted cryptocurrencies in late March,
AUDUSD moves into the swing area The AUDUSD has traded to a new session low. In the process, the pair has moved toward the low from yesterday and also into a swing area between 0.73675 and 0.73799. That swing area goes back to March 4 (see red numbered circles). On Friday, the low of that
The dollar can thank Fed chair Powell for the latest push higher today, after he helped to open the door for 50 bps rate hikes in the coming FOMC meetings. That helped to spur a further extension in the Treasury yields breakout, which is in turn also leaving plenty of upside potential for USD/JPY at
NEW DELHI: Gold prices in India bucked the global trend and rose on Tuesday. Prices of the yellow metal eased in international markets as the US Treasury yields hit fresh multi-year highs following Federal Reserve chair Jerome Powell’s aggressive inflation stance. Gold futures on MCX were trading up 0.31 per cent or Rs 159 at
Yen’s selloff re-accelerates after Fed Chair Jerome Powell hinted at a 50bps rate hike at next meeting in May. Dollar is firming up broadly, but trails Canadian. Loonie is supported by extended rebound in oil price, as well as expectations of more BoC tightening too. Swiss Franc is currently the second weakest, followed by Sterling
An employee looks on at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion. Aramco’s 2021 net income increased by 124% to $110 billion in 2021,
Find out the 3 bullish reversal patterns that provide early warning before the short covering rally in S&P 500. Click and watch the video below on YouTube (Pro Tip: adjust the speed to 1.5–2X): [embedded content] The bullish market sentiment is also reflected in my stock screener where the bullish setup outnumbers the bearish setup
Oil is back on the boil today, up $5.62 to $110.27 in the US. At the start of the month, there was a rapid rise to $130 from $95 but the move was entirely retraced. Now we’re seeing a second bounce that’s certainly more than a dead-cat bounce so far. The rally comes despite more
Given the sharp rise in yields (two year up 18 basis points and 10 year up 14.6 basis points) along with soaring oil prices (up over 7%). The US stock market hung in there although the major indices did close lower. A look at the final numbers shows: Dow industrial average -201.94 points or -0.58%
NEW DELHI: Gold prices jumped on Thursday after the US Federal Reserve policymakers cut the GDP forecast for the world’s largest economy and suggested US inflation at 4.3 per cent for 2022 while raising interest rate for the first time since 2018. Gold futures on MCX for April delivery were trading at Rs 51,678 per
The forex markets are mixed in rather quiet trading today. Swiss Franc apparently stronger but there isn’t much follow through buying yet. Euro could be turning weaker again but it has to dip more to confirm downside momentum. Other major pairs and crosses are still stuck inside Friday’s range. Global benchmark treasury yields are on
U.S. Federal Reserve Chairman Jerome Powell addresses an online only news conference in a frame grab from U.S. Federal Reserve video broadcast from the Federal Reserve building in Washington, U.S., January 26, 2022. U.S. Federal Reserve | via Reuters Federal Reserve Chairman Jerome Powell on Monday vowed tough action on inflation, which he said jeopardizes
In this article NKE Nike on Monday reported earnings and sales for the fiscal third quarter that topped analysts’ estimates, thanks to robust demand in North America as consumers headed back to stores. The better-than-expected results proved Nike’s ability to operate in a volatile environment, CEO John Donahoe said in a press release. “Marketplace demand
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