As if today’s 13% rise in European benchmark natural gas prices wasn’t enough, today Citi is out with a note saying UK inflation is on course to rise 18.6% y/y in January. The forecast is largely based on natural gas prices and doesn’t take into account potential mitigation strategies from the government. The current level
Month: August 2022
Gold price fell by Rs 315 to Rs 51,679 per 10 gram in the national capital on Monday amid a decline in international precious metal rates, according to Securities. The yellow metal had closed at Rs 51,994 per 10 gram in the previous trade. Silver also declined by Rs 635 to Rs 55,416 per kg.
The markets are rather steady in Asian session today. With a near empty calendar, trading could remain subdued. Activity, however, might start to increase with the wave of flash PMI data to be released tomorrow. For now, Aussie and Kiwi are trying to recover. But Dollar is staying firm. Euro and Yen are on the
Chicago Fed National Activity Index moved into positive territory in July. US Dollar Index clings to daily gains above 108.00 after the data. The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) improved to 0.27 in July from -0.25 (revised from -0.19) in June. “The CFNAI Diffusion Index, which is also a three-month moving
Daily revenue for GameStop’s nonfungible token (NFT) marketplace has plummeted to under $4,000, suggesting that interest in the platform has waned significantly since launching in mid-July. According to data from DappRadar, GameStop NFT has generated roughly $166,800 worth of sales volume over the past 24 hours. With the platform charging only a 2.25% fee on
A rate cut is expected today in China: I’ve marked some levels out on the hourly USC/CNH chart, but I’m sure the technical analysts out there aan do better than me – in the comments please folks. ps. CNH is the offshore yuan. The onshore yuan, CNY, is subject to People’s Bank of China enforced
Snippet from a note from ING on crude oil. From Friday ICYMI. In brief: Stubborn Russian oil output and weaker than expected demand growth mean the oil market is likely to remain in surplus for the remainder of this year and into early next year, which should limit the upside in oil prices. Although, given
Gold rose for the fourth consecutive week and scaled the pivotal $1800/oz level; however, the bulls lost confidence and the metal registered its first decline in five weeks. Gold ended the week with a sharp 3 per cent decline. The trend in the US dollar has been one of the key price determining factors for
Reuters reports that the Reserve Bank of New Zealand Deputy Governor Christian Hawkesby said on Monday that policymakers had “certainly considered 25 or 75” basis point increases before ultimately deciding to raise the cash rate by 50 basis points (bps). Hawkesby told Reuters in a phone interview that if the committee thought that market pricing
https://tradingnut.com/zoheb-noormohamed/ – Click for full interview Zoheb Noormohamed works a full time job and still makes 10 pips a day like clockwork. What’s 10 pips worth? Anything really, it all depends on risk. But let’s say it’s worth $100. Multiply that by 5 days a week and then 4 weeks in a month. You’ve made
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In this weekend video, I review and preview the fundamental influences in the market and then look at the technicals in the market that are defining the bias, and risk with the focus on the major currencies vs the USD. If you like this video, please give a thumbs up on YouTube. If you don’t
Over 1,900 workers at Britain’s biggest container port are due to begin eight days of strikes today, Sunday, 21 August 2022. This will seriously disrupt trade and supply chains. “The port regrets the impact this action will have on UK supply chains,” a Hutchison Ports spokesperson said.The port said it would have a contingency plan
Long term for most means encompassing the complete market/business cycles, i.e. eliminating the risk of mistiming and not getting affected by short-term worries. We generally believe that the economy will do well given enough time, and the stock market will follow suit. Mitigate the risk of negative returns by holding for long term Most people
The gold price plunged 3% in the week, despite investors’ perceived dovishness of July’s FOMC minutes. US central bank policymakers continued their campaign against inflation, even though they acknowledged downside risks to growth. Gold Price Analysis (XAU/USD): Break below $1750 opened the door towards the $1711-$1739 range. Gold price drops for the fifth-consecutive day, set to
FTX was among the many crypto exchanges with a front-row seat to witness the crypto hype of 2021, back when Bitcoin (BTC) and other cryptocurrencies hit their all-time highs. Driven by massive customer onboarding, partnerships, sponsorships and other factors, FTX’s revenue reportedly grew 1000% in 2021 — revealed internal documents. Audited financials of FY 2020-2021
USDCHF races higher. The USDCHF has moved up on each of the trading day’s this week. That move took the price from a London low at 0.9400 to the high today at 0.95968 for a low to high range of 197 pips or 2.08%. Looking at the daily chart, the USDCHF has seen a number
What key events and releases will be driving the markets next week? Tuesday , August 23 various flash PMI estimates for Europe and UK US/services and manufacturing PMI indices, 9:45 AM ET. Manufacturing PMI 52.0 vs. 52.2 last month. Services PMI 50.0 vs. 47.3 last month US new home sales, 10 AM ET. Estimate 574K
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