Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,
Month: August 2022
A “Now Hiring” sign is posted at a Home Depot store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market is still extremely tight, the Bureau of Labor Statistics reported Tuesday.
In this article BBY Televisions are seen for sale at a Best Buy store in New York City. Andrew Kelly | Reuters Best Buy on Tuesday said sales dropped by about 13% in the fiscal second quarter, as the retailer felt a pullback from inflation-weary shoppers. The company’s shares rose about 4% in early trading,
The EUR/GBP accelerated the move to the upside and jumped to 0.8601, reaching the highest level since July 6. While the euro is among the best performers, the pound is under pressure amid risk aversion. Read More… The GBP/USD pair struggles to capitalize on its modest intraday uptick to the 1.1760 area and the previous YTD
USDCAD rotates back to the 100/200 hour MA area The USDCAD hasd moved back down toward at swing area between 1.29845 to 1.29892. Below that is the near converged 100/200 hour MAs near 1.2977. The price action today saw the price initially move higher running into a swing area near 1.3075 to 1.3092. What now?
On the month, inflation in Germany’s industrial state is seen up 0.3% relative to July. This continues to reaffirm elevated price pressures and the annual reading fits with estimates of a higher print later when it comes to the national report. We’ll see what the other state readings have to offer first before getting a
NEW DELHI: Gold prices in the domestic market traded lower, bucking the global trend, thanks to a weaker rupee. However, the weakness in the dollar curbed the losses. The dollar index was off a two-decade high hit on Monday, while the benchmark 10-year yields pulled back from a two-month high hit in the previous session.
The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is also limited. For now, Sterling, Swiss
The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher interest rates. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t
Open interest in gold futures markets rose for the second session in a row on Monday, this time by just 454 contracts according to preliminary readings from CME Group. On the other hand, volume reversed two consecutive daily builds and shrank by around 24.3K contracts. Gold: Next on the downside comes $1,711 Gold prices charted
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Nasdaq is back below the 100 day MA The Nasdaq index has a high today of 12124.87. That did take the price back above the the indices 100 day at 12109.50, but not for the long. The price has rotated back to the downside reaching a new intraday lows at 11981.42. The current price is
The EIA head Birol is no the wire saying that: Further Strategic Petroleum Reserve release not off the table. Stands by the IEA’s report that said no new investlments in oil and gas fields area needed if the world wants to achieve net zero report emissions by 2050 Russian oil production has not fallen as
Gold price in the national capital fell Rs 365 to Rs 51,385 per 10 grams on Monday reflecting a decline in international precious metal prices along with rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 51,750 per 10 grams in the previous trade. Silver also plunged by Rs 1,027 to
Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite of risk-off sentiment. The clearer trend
USD/MXN fails to break key resistance near 20.20. Break above 20.20 to give momentum to the dollar. Price continues to consolidate around 20.00. The USD/MXN is flat on Monday as it pulled back after reaching the highest level in almost a week at 20.16. The pair tested a critical resistance area around 20.17, the convergence
The Australian dollar was slammed lower, along with other majors, as Federal Reserve Chair took a hawkish tilt in his speech at Jackson Hole: The latest candle on the daily is a bearish outside one. I’m curious if some T/A folks didn’t bother with Powell at all and instead focus solely on the techs, like
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