A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City. Spencer Platt | Getty Images As far as jobs reports go, November’s wasn’t exactly what the Federal Reserve was looking for. A higher-than-expected payrolls number and a hot wage reading that was twice
Month: December 2022
Just a month after the controversial fall of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is reportedly seeking out investors to launch a crypto startup. The ex-president of FTX US, Brett Harrison, is on the lookout for $6 million in funding to launch a start-up that would build crypto trading
The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin‘s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap
Market are back in full risk-on mode after Fed Chair Jerome Powell affirmed that smaller rate hike would be delivered in December. Positive sentiment continued in Asia with China softening some of its pandemic restrictions. Dollar is in broad based selloff, followed by Canadian Dollar and Swiss Franc. Yen is currently the strongest one, responding
The Indian rupee is likely to depreciate moderately due to the potential strengthening of the US dollar in the near term, according to analysts at MUFG Bank. They forecast USD/INR at 82.300 by the end of the first quarter of next year and at 80.500 by the third quarter. Key Quotes: “Tracking gains in most
USDJPY rally stalled at the 38.2% retracement today As stocks moved back higher and yields moved lower, the US dollar is getting weaker.The USDJPY is back below its 200 day moving average of 134.506. Closing below the level today would be the first time the currency pair closed below that since February 23, 2021. The
Markets: Gold down $5 to $1797 WTI crude oil down 99-cents to $80.22 US 10-year yields down 2.4 bps to 3.50% S&P 500 down 10 points to 4072 JPY leads, CAD lags The US dollar was soft all week in the lead-up to non-farm payrolls and that was particularly true of USD/JPY in the hours
A Now Hiring sign at a Dunkin’ restaurant on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The unemployment rate in the U.S. declined for Hispanic workers and Black women in November, while the overall rate held steady. Hispanic workers saw unemployment dip to 3.9% last month, down from 4.2% in October,
LONDON -Oil futures were mixed on Friday ahead of a meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude on Monday. Brent crude futures were up 37 cents, or 0.4%, at $87.25 per barrel by 1441 GMT. U.S. West Texas Intermediate (WTI)
Dollar rebounds notably after a set of solid non-farm payroll data, with strong wage growth. US stock futures take a dive in response to the news, while treasury yields recover. Australian Dollar appears to be responding most negatively for now, as pressured by risk-off sentiment too. But Euro and Sterling are not far away. Yen
The Mexican Peso has been rising versus the US Dollar over the last weeks. Analysts at MUFG Bank, argue the resilience of the Mexican Peso might not last long amid domestic and external risks. Their forecast is for USD/MXN to reach 19.80 by the end of the first quarter 2023 and 20.00 by the third quarter.
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The EURUSD is trading back above the 50% retracement at 1.05155 after the first attempt above the level could not be sustained. The current price trades at 1.0527. Staying above the level is an additional bullish tilt for the pair with the next target on the daily up at the swing area between 1.0615 and
Prior +1.6% PPI +30.8% vs +31.5% y/y expected Prior +41.9% Euro area producer prices fell more than expected in October and that is a welcome sign that perhaps inflation pressures may ease further in the months ahead. It marks the first time that producer prices have declined on a monthly basis since May 2020. Looking
Workers sort packages at a FedEx Express facility on Cyber Monday in Garden City, New York, on Monday, Nov. 28, 2022. Michael Nagle | Bloomberg | Getty Images Job openings dipped in October amid the Federal Reserve’s efforts to cool off a red-hot employment market, the Labor Department reported Wednesday. The Job Openings and Labor
Front-running scam bots are significantly gaining traction on YouTube, with the number of dubious videos increasing six-fold in 2022 according to a new report from blockchain security firm CertiK. In the firm’s Dec. 1 report, CertiK explores how a wave of front-running bot scams are promising free returns as high as 10X a day, but ultimately