Headlines: Markets: JPY leads, EUR lags on the day European equities mixed; S&P 500 futures up 0.7% US 10-year yields down 2.4 bps to 3.131% Gold down 0.5% to $1,828.03 WTI crude up 0.5% to $106.20 Bitcoin up 3.8% to $20,610 It was quiet start to European trading today but things really kicked into gear
Month: June 2022
Oil prices sold off over the past days, dropping below USD 110 from above USD 125 mid-June. Recession fears have their grip on markets, but the mood swing is rather one of ebbing optimism than swelling pessimism. We struggle to see lasting scarcity. Russian oil still finds its buyers and the cargoes simply take the
While the stock markets are steady, Aussie, Kiwi, and to a lesser extend Loonie, are trading generally lower. Decline in commodity and energy prices, on concerns over recession, appear to be weighing down on these currencies. Copper prices dropped to the lowest level since March 2021, while iron ore price has fallen 15% in 2
Gores Guggenheim voted on Wednesday to take Polestar public. Polestar will list under the ticker PSNY on the Nasdaq and start trading on June 24. GGPI stock rose 12% on Wednesday in anticipation of the deal going through. Gores Guggenheim (GGPI) stock merger with Polestar looks set to debut on the Nasdaq on Friday under the ticker
Thailand based metaverse startup Translucia Global Innovation has partnered with the Australian software development firm Two Bulls and set aside an initial budget of $100 million to build a Metaverse Research and Development Center (MRDC) in Melbourne. Translucia is a subsidiary of art and entertainment company T&B Media Global which in October 2021 launched its
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Crude oil trades above and below the 100 day MA The price of WTI crude oil futures are settling at $106.19. That’s down $3.33 or -3.04% The high price reached $109.76. The low reached $101.53. The settle is near the middle of that range. Looking at the daily chart, the price moved below the 100
Australian June preliminary PMIs: S&P Global Manufacturing PMI 55.8 prior 55.7 S&P Global Services PMI 52.6 prior 53.2 S&P Global Composite PMI 52.6 also prior 52.9 Solid results all around. The RBA hiked again in June, these indicators of the economy still in expansion. ps. The calendar shows ‘expected’ also: ADVERTISEMENT – CONTINUE READING BELOW
NEW DELHI: Gold prices dropped on Wednesday, thanks to the firm US dollar and higher bond yields. However, the bullion remained range-bound. Investors awaited fresh cues from top central banks on their monetary policy plans, especially from the US Federal Reserve. Fed chair Jerome Powell will testify before the US Congress this week. Gold futures
Risk aversion seems to back in indecisive markets today, with major European indexes and US futures trading down. Yen and Swiss Franc are trading mildly higher, followed by Dollar. Sterling and Canadian receive little support from strong consumer inflation reading. But Aussie and Kiwi are the worse performers while Euro is mixed. Focus will turn
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. Elizabeth Frantz |
USD/CAD picks up bids to defend the previous day’s rebound from one-week low. WTI crude oil remains pressured around monthly low amid chatters over gas tax holiday. Bulls stay hopeful amid market’s anxiety, Fed Chair Powell’s defense to the biggest rate hike since 1994. USD/CAD refreshes intraday high around 1.2960 during the initial Asian session
Revlon has had to file for Chapter 11 bankruptcy protection. Despite this, REV stock has moved from $1.25 to over $6. REV gains over 400% last week as the company gets another loan. Revlon stock (REV) is top of the leaderboard of the favorite short squeeze mentions across social media this week as the stock
USDCHF consolidates the declines after the surprise SNB hike The USDCHF is trading up and down above support and resistance targets. Looking at the hourly chart, the pair fell sharply last week after the SNB surprise market with a 50 basis point hike. The move to the downside stalled at 0.96279 on Thursday. Then on
Prior +6.6% Market index 320.4 vs 307.4 prior Purchase index 242.8 vs 225.0 prior Refinancing index 712.7 vs 735.5 prior 30-year mortgage rate 5.98% vs 5.65% prior A rush in home buying before the Fed? That is perhaps the case as the average long-term mortgage rate climbs by another 33 bps to its highest since
Gold price in the national capital on Wednesday fell by Rs 205 to Rs 50,487 per 10 gram in line with a decline in international rates of the precious metal, according to Securities. In the previous trade, the yellow metal settled at Rs 50,692 per 10 gram. Silver also tumbled by Rs 926 to Rs
Overall risk sentiment is rather indecisive in the markets. While US stocks staged a strong rebound overnight, there is no follow through buying in Asia. Dollar and Yen are trading mildly higher today, together with Swiss Franc. New Zealand Dollar is leading commodity currencies lower. Sterling is mixed for now but more volatility is likely
Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of avenues that filter into broader measures the government uses to gauge price increases. The big
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