The Bank of Japan (BOJ) will consider downgrading its assessment on factory output at the June policy meeting due to supply disruptions caused by China’s covid lockdowns, Reuters reports, citing sources with the central bank’s thinking. The BOJ is expected to maintain the view that Japan’s economy is picking up as a trend, noting that
Month: June 2022
USDCHF back below the 38.2% retracement The USDCHF moved higher into the US session and in the process moved above the 38.2% of the last trend move lower that saw the pair moved from 1.0063 to 0.95442 (on May 27). Since that bottom, the price consolidated in a narrow range between 0.9544 and 0.9669 and
Eurostoxx +0.3% Germany DAX +0.3% UK FTSE +0.2% France CAC 40 +0.3% Spain IBEX +0.3% In essence, European indices are playing a bit of catch up to the late turnaround in US stocks yesterday. The overall tone in the equities space remains more sluggish as outlined earlier here. S&P 500 futures are down 0.3%, Nasdaq
NEW DELHI: Gold prices edged lower on Wednesday, as an uptick in the dollar and US treasury yields limited bullion’s appeal, with investors looking ahead to US inflation data for more direction on interest rates. Gains in gold were capped as central banks worldwide tightened monetary policy to cool surging prices. Investors await the core
Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie are digesting some gains but remain firm. Meanwhile, Dollar is mixed for now, together with
A ‘help wanted’ sign is displayed in a Manhattan store on May 6, 2022 in New York City. Spencer Platt | Getty Images Job creation at companies decelerated to the slowest pace of the pandemic-era recovery in May, payroll processing firm ADP reported Thursday. Private sector employment rose by just 128,000 for the month, falling
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The price is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay with the course. The yen is suffering a central bank divergence blow and a potential paradigm shift. At 95.89, AUD/JPY is strong and rising over 1% on the day following a surprise move and hawkishness from the
USDCAD has a lower low for 9 consecutive days The USDCAD is trading at a new low. The price will below the low from yesterday at 1.25344 and has reached 1.25239 so far. The pair has not traded to a new intraday low for the 9th consecutive day. Looking at the daily chart, the next
The Canadian dollar is strengthening again today. The easy answer as to why is that crude is up $1.48 at the moment. But oil prices have bounced around today and the loonie has stayed bid. I think a better explanation is that the market’s perception on the sustainability of the oil and gas rally is
Gold in the national capital on Tuesday declined by Rs 205 to Rs 50,733 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 50,938 per 10 grams. Silver also dipped Rs 964 to Rs 61,555 per kg from Rs 62,519 per kg in the previous trade. “Spot
Selloff in Yen and Swiss Franc is still the main theme today even though US and Germany benchmark yields are retreating slightly. Australia was only lifted very briefly by the larger than expected rate hike by RBA. Though, Aussie is maintaining gains against Kiwi, which is the worst performing one for the day. On the
Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon. Though she stressed that Fed policymakers will remain data-dependent, Brainard said the most likely path will be that the increases will continue until inflation is tamed. “Right now, it’s
In this article TGT Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania. Sopa Images | Lightrocket | Getty Images Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid
The burgeoning popularity of nonfungible tokens (NFTs) has led to issues like exorbitant transaction fees and congestion in the prevalent Ethereum-based ecosystem. The fee factor serves as a major deterrent to anyone wanting to execute transactions on the blockchain. A report published by Reuters revealed that the NFT sales volume was $24.9 billion in 2021,
Here is what you need to know on Tuesday, June 7: With the benchmark 10-year US Treasury bond yield rising above 3% on Monday, the greenback gathered strength against its rivals at the start of the week. The US Dollar Index extended its rebound early Tuesday and climbed to its highest level in two weeks.
10 year yield is up for 6 straight days As the USDJPY and the USDCHF move to new session highs, the catalyst is a move higher in yields. The 10 year yield is currently at 3.034%, up 8 basis points on the day. The high yield reached 3.04% so far. The low was at 2.937%.
Prior 46.0 The downturn in the German construction sector continues as rising prices, material shortages and economic uncertainty weigh on activity and sentiment. S&P Global notes that: “Business conditions for construction companies in Germany remained challenging in May, with firms not only having to contend with long-running supply issues, but also a marked decline in
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