There’s a lot of speculation lately about whether the U.S. is officially in a recession. Both President Joe Biden and Federal Reserve Chair Jerome Powell said we’re not there just yet, pointing to the strong labor market and rising wages. The official declaration typically comes from the National Bureau of Economic Research, and it has
Month: August 2022
Open interest in gold futures markets remained erratic on Friday and dropped by nearly 7K contracts, according to preliminary readings from CME Group. On the other hand, volume reversed two daily drops in a row and increased by around 13.3K contracts. Gold looks to retest $1,800 Prices of the ounce troy of gold faltered just
Deriving their names from the size of the massive mammals swimming around the earth’s oceans, cryptocurrency whales refer to individuals or entities that hold large amounts of cryptocurrency. In the case of Bitcoin (BTC), someone can be considered a whale if they hold over 1,000 BTC, and there are less than 2,500 of them out
The US jobs report on Friday helped to initially move the dollar higher, stocks lower and yields higher. However, by the close, the dollar had come off high levels, stocks took back declines. Yields did stay elevated. What about the expectations going forward? What might the Fed officials reaction be to 528K new jobs? What
Sanya, in Hainan province, was in the headlines last week with partial shut-ins: A full city-wide lockdown is now in place, ‘static management’ the new buzzwords from the bureaucrats in charge: cases there spiked to more than 200 on Friday movement will be restricted except for those who provide essential public services, and emergency work
There was an abrupt rise in commodity prices when Russia invaded Ukraine in the last week of February. Supply constraints and worries about inflation have helped commodity prices surge to record or multi-year highs. Although a correction was witnessed in several other commodities, natural gas prices remain unchanged. Restricted supplies from the world’s largest gas
Hiring in July was far better than expected, defying signs that the economic recovery is losing steam, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls rose 528,000 for the month and the unemployment rate was 3.5%, easily topping the Dow Jones estimates of 258,000 and 3.6%, respectively. The unemployment rate is now back to
Join me in today’s video to cover the #USDJPY and predictions of #gbpusd #Forex #forextradingforbeginners 08th-12th August 2022 ——————- This channel is to share with you all Trading related updates with technical analysis on #Nifty, #BankNifty, #Dow Jones, #Nasdaq, #Nikkei, #Dax, #Hangseng, #Gold, #Silver and #Oil. Do like, Share, Subscribe and Stay updated. Happy Trading
BTCUSD had a nice rally above 3% yesterday but volume is not strong and bitcoin can easily test the 20k mark or close to it. We aim for a short position with a ‘take profit’ target that is in line with testing an important VWAP, and is much higher than that 20 thousand dollar key
China trade data for July 2022 was released on Sunday: This snapshot is from the ForexLive economic data calendar, access it here. China’s economy continued to recover from lockdowns earlier in the year through July, the best growth in exports will be welcome. Less welcome of course is the miss on imports, this will be
Gold prices edged higher on Thursday, buoyed by a pullback in the dollar and U.S. Treasury yields, while investors awaited the U.S. non-farm payrolls report later this week that could offer more cues on the Federal Reserve’s rate hike plans. FUNDAMENTALS * Spot gold was up 0.2% at $1,767.97 per ounce, as of 0123 GMT.
Zoom In IconArrows pointing outwards Bureau of Labor Statistics The U.S. economy added many more jobs than expected last month, and there was an appetite for workers particularly in the service sector, which has been grappling with labor shortages. The leisure and hospitality sector saw the most jobs growth, with 96,000 payrolls added in July,
AUD/USD is about to finish the week with losses of 1.10%. A bearish-engulfing candle pattern and the RSI’s crossing below 50 are two reasons that could tumble the AUD/USD. AUD/USD sellers eye a break below 0.6900, on its way towards 0.6800. The AUD/USD drops substantially, courtesy of upbeat US economic data, which sent the major
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Crypto fundraising hits $30.3B in H1, outpacing all of 2021:
The EURJPY moved higher on the USDJPY run to the upside today. The JPY is the weakest of the major currencies, and that has helped to propel this pair higher as well (lower JPY). EURJPY runs higher as the JPY declines Technically, the pair was able to extend above its 200 hour moving average for
Talks continued over the weekend in Vienna aimed at reviving Tehran’s 2015 nuclear deal with world powers. Iranian state media reported comments from Iran’s foreign minister Hossein Amirabdollahian, that he “stressed the need for a realistic U.S. response to Iran’s constructive proposals on various issues to make the deal work” Talks have been ongoing for
Oil prices extended losses on Friday, after hitting their lowest since before Russia’s February invasion of Ukraine in the previous session, as the market fretted over the impact of inflation on global economic growth and demand. Brent crude dropped 10 cents, or 0.1%, to $94.02 a barrel by 0047 GMT, while U.S. West Texas Intermediate
The strong set of job market data seemed to have cleared much concern over recession in the US, and set the tone for the financial markets. Benchmark treasury yields jumped as traders added bets on Fed continuing with the current pace of tightening beyond neutral. Stocks markets were resiliently firm despite that and look set
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