Oil prices rose about 1% on Wednesday, gaining back some of their losses during the previous session on concerns about energy demand after the International Monetary Fund (IMF) cut its economic growth forecasts. However, the demand concerns have been offset by a tighter supply outlook following sanctions on Russia, the world’s second-largest oil exporter and
Month: April 2022
Canadian Dollar surges in early US session after much stronger than expected consumer inflation data, which supports more aggressive tightening by BoC. Other commodity currencies are also strong. On the other hand, Dollar is trading broadly lower as recent rally lost momentum, in particular against Yen. Euro is also soft, together with Sterling and Swiss
In this article TSLA Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. Christian Marquardt | Getty Images Electric vehicle maker Tesla is set to deliver a first quarter earnings update after the bell on Wednesday. Here’s what Wall Street
NZD/USD bulls come up for air and US dollar sinks. US yields have corrected and the market gives a sigh of relief. Trading at 0.6804, NZD/USD is firmly bid just over 1% higher on the day as Wall Street draws to a close. The US dollar was sliding as US yields corrected which gave a
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NASDAQ index moved up toward resistance target The NASDAQ index is trading up around 232 points or 1.75% at 13565. The high price reached 13608.25. The low price was down to 13281.22. Looking at the hourly chart, the most recent cycle low was on March 15 at 12555.35. The price moved up 14634.22 on March
On the recommendation, the firm cites expectations that easing inflation will cause rates to fall from here. From the report: “While CPI inflation is 8.5%, we believe the market may be overemphasising inflation risks. Our forecasts point to inflation peaking this quarter and falling steadily into 2023. We believe this will reduce the panic level
NEW DELHI: Gold prices dropped sharply on Wednesday to weekly lows following strength in US dollar and treasury yields, which dented bullion demand. On Tuesday, prices of the yellow metal fell up to 1.8 per cent as a stronger dollar and rising Treasury yields overshadowed inflows into bullion. Gold futures on MCX dropped 0.56 per
Japan’s benchmark 10-year JGB yield is pulled above BoJ’s cap of 0.25% in Asian session today. That triggered intervention by BoJ to defend the ceiling. At the same time, USD/JPY breached 129 handle but quickly retreated, on talks that BoJ could also intervene at around 130. But judging from overall price actions, the pull back
The prices that goods and services producers receive rose in March at the fastest pace since records have been kept, the Bureau of Labor Statistics reported Wednesday. The producer price index, which measures the prices paid by wholesalers, increased 11.2% from a year ago, the most in a data series going back to November 2010.
IBM CEO Arvind Krishna Source: CNBC IBM shares rose 3% in extended trading on Tuesday after the technology services company issued first-quarter results that beat expectations. Here’s how the company did: Earnings: $1.40 per share, adjusted, vs. $1.38 per share as expected by analysts, according to Refinitiv. Revenue: $14.2 billion, vs. $13.85 billion as expected
Commenting on the European Central Bank’s (ECB) monetary policy outlook on Wednesday, policymaker Martins Kazaks said that “a rate hike is possible as soon as July.” Additional quotes Gradual approach doesn’t mean slow response. ECB doesn’t need to wait to see stronger wage growth. Ending APP early in Q3 is possible and appropriate. 0% is not
EURGBP tries to move higher with more work to do The EURGBP has moved marginally higher today, but in the process has moved back above its 100 hour moving average currently at 0.82862. The pair initially broke above that moving average but found willing sellers against a swing area between 0.82936 and 0.82987. The price
The IMF’s chief economist spoke in an interview with Reuters. This follows the latest report, covered here: Main point from the follow-up interview (Headlines via Reuters): says sees signs of higher inflation expectations increasing, may require more forceful tightening moves by central bankers says if inflation remains elevated for more than a couple more months
April 19: Gold prices steadied on Tuesday, after getting within a stone’s throw of the key $2,000 per ounce level in the previous session, as lower U.S. Treasury yields offset pressure from two-year highs in the dollar. FUNDAMENTALS * Spot gold held its ground at $1,977.61 per ounce, as of 0013 GMT. U.S. gold futures
Yen’s weakness remains the main theme today as selloff in major global treasuries continue. US 10-year yield breaches 2.9 handle while Germany 10-year yield breaches 0.94. UK 10-year Gilt yield is also heading towards 2% handle. Swiss Franc is following as second weakest together with Canadian Dollar. On the other hand, Aussie and leading the
Getting inflation under control will require raising interest rates at a faster pace than normal even though the pace of price increases probably has peaked, Federal Reserve Governor Christopher Waller said Wednesday. That means the central bank likely will hike short-term rates by half a percentage point, or 50 basis points, at its meeting in
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