The pound suffered on Friday the worst decline since at least March 2020, with GBP/USD losing more than 300 pips. Analysts at MUFG Bank, remain bearish on the pound and point out the loss of confidence in GBP is becoming more concerning. Key Quotes: “We now expect the BoE to hike by 75bps on 3rd
Month: September 2022
NZDUSD falls to lowest level since March 2020 The NZDUSD closed the week ago at 0.5990, just below the important 0.6000 level. The price has moved lower this week. The high a Monday reached 0.60007 – call it 0.6000. The price just reached a new low of 0.57498. From the high, that’s a decline of
The major US stock indices are closing lower for the 4th consecutive day. For the week, the majors major indices are also down sharply. Recall from this time last week, Adam warned that this week is the worst week on the calendar seasonally for equities, over the past 50 years.It lived up to that distinction
Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should a bill get enough votes. According to a framework released on Thursday, chair Zoe Lofgren of the Committee on House Administration — responsible for the day-to-day operations
Gold price in the national capital fell by Rs 139 to Rs 50,326 per 10 grams on Friday amid a fall in international precious metal prices, according to Securities. In the previous trade, the yellow metal had finished at Rs 50,465 per 10 grams. Silver also fell sharply by Rs 363 to Rs 58,366 per
Sterling is in free fall today as markets reacted negatively to the “mini-budget” of the new government. Selloff came after Finance Minister Kwasi Kwarteng announced to cancel and planned rise in corporation tax, reverse a recent rise in income tax, and cut taxes for businesses in designated investment zones. Swiss Franc is currently the biggest
WTI tumbles more than 7.50% weekly, registering a fresh 8-month low. Global S&P PMIs in September increased worries of a worldwide recession, weighing on WTI. WTI Price Analysis: A break below $78.00 could pave the way for a fall to $70.00. The US crude oil benchmark, also known as WTI, drops below $80.00 per barrel
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The major US indices are opening lower, but off the pre-market lows as yields in the US come off after reaching 3.829% in the 10 year (now at 3.703%), and 4.268% in the 2 year (now at 4.137%). The Fed is targeting 4.4% for the end of year level. The stocks have seen some rebound
The market today is signaling that the era of easy money for governments is over. That has some serious negative implications for global growth and — by extension — oil demand. The problem I see is that it also has negative implications for financing the green transition. The plan — particularly in Europe — calls
Gold prices dropped more than 1% to their lowest since April 2020 on Friday as a cocktail of factors from a robust dollar and elevated U.S. bond yields to worries around more U.S. interest rate hikes diminished bullion’s appeal. Spot gold XAU= was down 1.7% at $1,642.79 per ounce by 1058 GMT and was heading
Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against Euro and Sterling, which are among
Economists at Nordea expect a stronger US dollar in the months to come. In their view, the EUR/USD pair could plunge towards the 0.90 level on the back of risk-off. The USD will continue to outperform “The USD will likely continue to benefit from the Fed continuing to hike rates and its status as the
NASDAQ index The Nasdaq index traded to an intraday lows at 11024.64. That took the price below the 200 week MA at 11096.17. However, since bottoming the price has moved back above the key 200 week moving average. The current price is trading at 11109. That is still down -109 points or -0.97%, but at
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many NFT projects rushing to market without proper smart contract testing — potentially leading to millions lost. Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how its smart contracts will work, even
Oil prices rose in early Asian trade on Friday on the prospect that a stalled Iran nuclear agreement and Moscow’s new mobilization campaign in its invasion of Ukraine would further restrict global supplies. Brent crude futures gained 16 cents, or 0.2%, to $90.62 per barrel by 0020 GMT, while U.S. West Texas Intermediate (WTI) crude
Dollar broke out to the upside overnight following hawkish Fed hike. At the same time, it’s closely trailed by Swiss Franc for now, on geopolitical risks. Risk aversion is also keeping Yen afloat in crosses, despite strong rally in treasury yields. For now, Kiwi is the worst performer for the performer among the weak commodity
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