The buying in stocks is continuing with the S&P now up over 2.0%. The NASDAQ index is getting closer to up 3% on the day. A snapshot of the market currently shows: Dow industrial average up 537 points or 1.67% at 32657.52 S&P index up 82.48 points or 2.07% at 4061.22 NASDAQ index up 321.81
Month: May 2022
Below are the auction results for the sale of $42 billion of 7 year notes: High yield 2.777%. The high yield at the last auction came in at 2.908 WI level at the top of the auction 2.801% Tail -2.4 basis points vs six-month average of 0.5 basis points Bid to cover 2.69Xvs. six-month average
OPEC+ is set to stick to an oil production deal agreed last year at its meeting on June 2 and raise July output targets by 432,000 barrels per day, six OPEC+ sources told Reuters, rebuffing Western calls for a faster increase to lower surging prices. Western nations, grappling with record inflation rates that are threatening
Trading in the currency market is rather quiet today, with major pairs and crosses stuck inside yesterday’s range. Other markets are also treading water with European indexes and US futures slightly up. Benchmark treasury yields are mixed. Gold is retreating slightly while oil prices are also range bound. As for the week, Dollar remains the
In this article M A person walks past a Macys store in Hyattsville, Maryland, on February 22, 2022. Stefani Reynolds | AFP | Getty Images Macy’s on Thursday reported fiscal first-quarter profits and sales ahead of analysts’ expectations, as shoppers returned to malls to shop for new outfits and luxury goods. The department store chain,
This Thursday, gold is seeing fresh selling pressure. As FXstreet’s Dhwani Mehta notes, the key $1,838 support could be at risk ahead of US GDP. Gold is teasing a downside break from a symmetrical triangle “The GDP revision could be closely eyed amid looming recession risks in the US. The data could have a significant
USDCAD moves below the 100 hour moving average at 1.28109 The USDCAD has moved below the 100 hour MA at 1.28109. That moving average had a stalled the fall on a number of dips throughout the day. The break tilts the technical bias more to the downside . The high price today – reached near
He is calling on the BOJ to try and achieve 2% inflation in a stable and sustainable manner. Well, inflation in Japan hasn’t taken off like in other parts of the world but it is slowly moving towards the 2% target. And for a country that has long gotten used to deflation, that’s perhaps a
The RBI on Wednesday came up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers (QJ) as approved by International Financial Services Centers Authority (IFSCA) were permitted
The recovery in Dollar and Yen appeared to be rather short-lived, as overall risk sentiment was steady. FOMC minutes affirmed market expectations of 50bps rate hikes ahead, which is not news. That triggered little reaction in the greenback. As for today, Euro is regaining some ground together with Swiss Franc. New Zealand Dollar is the
Nvidia CEO Jensen Huang speaks during a press conference at The MGM during CES 2018 in Las Vegas on January 7, 2018. Mandel Ngan | AFP | Getty Images Nvidia reported fiscal first-quarter earnings on Wednesday, beating analyst expectations for sales and earnings, but the stock dropped more than 10% in extended trading at one
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The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed
The Federal Open Market Committee minutes have been released which are so far sending the US dollar DXY index a touch softer. The softness in the greenback come as there were no discussions on larger rate hikes. At the May 3-4 meeting, the Fed hiked rates from the expected 50 bp to 1.0% and laid out plans for
EURUSD moves back toward key support In the early post today, I spoke to key support being tested in the 1.0633 to 1.0642 area. The EURUSD did in fact bounce off the early US session low near the 100 hour MA, the 50% retracement and swing area which all clustered from 1.06336 to 1.0642. The
High yield 2.736% WI level at the time of auction at 2.732% Tail 0.4 basis points vs six-month average of 0.0 basis points bid to cover 2.44X vs. six-month average of 2.45X Directs (a measure of domestic demand) 20.0% vs. six-month average of 17.4% Indirects (a measure of international demand) 62.9% vs. six-month average of
Gold in the national capital on Wednesday dipped marginally by Rs 13 to Rs 50,935 per 10 grams in line with weak trends in international precious metal prices along with rupee appreciation, according to Securities. In the previous trade, the precious metal settled at Rs 50,948 per 10 grams. Silver, however, gained Rs 101 to
Overall, the moves in the forex markets are still indecisive. Dollar and Yen are striking back today and rise broadly. Swiss Franc follows as the third strongest, suggesting a risk-off undertone. Nevertheless, other markets are still relatively steady. New Zealand Dollar’s post-RBNZ rally faded rather quickly. But for now, Aussie is the weakest one, followed
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