Dollar is staying generally firm today but lacks clear-cut momentum to extend last week’s rally. Overall sentiment is mildly on the risk-off side, with major European indexes and US futures in red while benchmark treasury yields jump. For now, Yen remains the worst performer for the day, followed by Kiwi and then Aussie. Swiss Franc
Month: February 2023
Share: “British central bank was prepared to do more to get inflation back to target,” said Bank of England (BoE) Chief Economist Huw Pill on Monday per Reuters. The news also states that the BoE suggested last week that interest rates were approaching their peak. Key comments I do have a high degree of confidence
The dollars getting stronger with the greenback reaching new highs against the EUR, JPY, CAD, AUD, and NZD. The greenback is just off high levels versus the GBP and CHF as well. It has moved the most versus the JPY (up 1.24%) EURUSD: The EURUSD has moved below the 50% midpoint of the range for
The market is pricing in a higher path for the Fed funds rate ahead of tomorrow’s speech from Fed Chairman Jerome Powell and that means a higher US dollar. The implied peak is now up to 5.11%, which essentially matched the Fed dot plot of 5.00-5.25% and rates remain at 4.75% through year end. This
Shell said last month that windfall taxes imposed by the European Union and U.K. following the surge in profits would cost the group about $2 billion. Paul Ellis | Afp | Getty Images British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s
Gold prices hit a more than four-week low on Monday, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might keep hiking interest rates. FUNDAMENTALS * Spot gold was little changed at $1,865.88 per ounce, as of 0045 GMT, after hitting its lowest level since Jan. 6 earlier in
Yen opens the week broadly lower on rumors that current ultra-loose monetary policy would be maintained by the next BoJ governor. Meanwhile, markets are mixed elsewhere. Dollar is paring some gains after initial rally, but stays generally firm. Australian Dollar is trying to recover with other commodity currencies. Swiss Franc is slightly outperforming other European
Share: US Dollar maintains bid tone. Economists at Société Générale expect the USD Index (DXY) to extend the rebound and see potential to reach the January peak near 105.60. Defending 101.40 is essential for persistence in up move “The Dollar Index approached the earlier highlighted potential support zone near 100.60/100.00 representing peak of 2015. A
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The US jobs report was a “Wow” report with not much weakness. That brings a tighter Fed back in the picture. The USD moved higher, the stocks moved lower but still closed higher on the week (at least the broader indices). The US yields moved higher as well erasing the earlier declines, but have some
Powerful Turkey earthquake – Turkish Government requests International Aid BOJ’s Kuroda: CPI sustainable at 2%, accompanied by wage growth, has not yet been achieved BOJ Kuroda says will seek to hit 2% inflation in a stable & sustainable manner Goldman Sachs raise their target for the S&P500 to 4000 in 3 months (from 3600 prior)
In this article PENN Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, the Penn Entertainment logo is displayed on a smartphone mobile screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images Penn Entertainment on Thursday became the first U.S. gambling company to post a profit in its sports betting business during
Venture capital firm Andreessen Horowitz (a16z) voted against a final proposal to deploy Uniswap v3 on the BNB Chain using the Wormhole bridge, the Uniswap DAO forum shows. The governance proposal to deploy the latest Uniswap iteration on the BNB Chain was submitted on Feb. 2 by 0xPlasma Labs on behalf of the Uniswap Community, after
Oil prices made modest gains in early trade on Friday but were heading for a second straight week of losses, as the market looked for more signs of a strong recovery in fuel demand in China to offset looming slumps in other major economies. Brent crude futures rose 16 cents, or 0.2%, to $82.33 a
USD/CHF is struggling to extend the upside above 0.9280, upside seems favored amid the upbeat market mood. The US Dollar Index (DXY) has shifted its auction above 102.50 as Fed might not pause its policy tightening spell. A pullback move to near 10-period EMA will present a bargain buy for the market participants. The USD/CHF
AUDUSD moves back to swing area The AUDUSD moved lower with the USD move up after the stronger than expected US jobs data and the stronger ISM data. The US jobs report took the price away from its 100 and 200 hour moving averages up at 0.7069 and 0.7081. In the Asian session, the price
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