Silver futures hit a 32-week high on Wednesday amid weakness in the greenback. Bullion prices have been on an uptrend this year as fears of an economic downturn loom on major economies. The trigger for the current rally was the poor economic data emerging from the US which led to the dollar slipping to a
Month: April 2023
Disappointing US private job data doesn’t trigger significant fresh selling in Dollar, but it’s still maintaining its position as the week’s weakest performer so far. Countervailing forces from declining US and European benchmark treasury yields are keeping the greenback’s losses against Euro and Sterling in check. However, Swiss Franc and Yen seem to be making
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The major indices are skimming along the Lowes for the day. All three major indices are negative now. A snapshot of the market currently shows: Dow industrial average -18.25 points or -0.05% at 33384.14 S&P index -26.98 points or -0.66% at 4073.63 NASDAQ index -189.64 points or -1.56% at 11936.68 Looking at the NASDAQ index
The first quarter is over but it will take awhile to tally up the economic data. However the tracker from the Atlanta Fed does a decent job and certainly shows which way the wind is blowing. It was above 3% not long ago but is now down to 1.5% from 1.7% earlier this week. “After
A “Now Hiring” sign is displayed on a shopfront on August 5, 2022 in New York City. John Smith | View Press | Corbis News | Getty Images Private sector hiring decelerated in March, flashing another potential sign that U.S. economic growth is heading for a sharp slowdown or recession, payroll processing firm ADP reported Wednesday.
Share: USD/MXN sees strong gains on cooling inflation data from Mexico. Weaker PMI and ADP figures suggest potential challenges for the US labor market and economic growth. USD/MXN Price Analysis: A daily close above the 20-day EMA could lead to a rally towards the 100-day EMA at 18.8382. The Mexican Peso (MXN) depreciated vs. the
The standards for Virtual Asset Service Providers (VASPs) in Hong Kong are set “incredibly high” as the Securities and Futures Commission (SFC) is wanting the crypto industry to match the same compliance standards as traditional financial firms. Speaking to Cointelegraph at the Hong Kong WOW Summit, Lucy Gazmararian, the founder of crypto venture firm Token
OPEC+ commands 80% of the world’s proven oil reserves and 40% of the world’s supply and this announcement comes at a time when markets were bottoming out and pricing in a shade of positive developments. Global institutions are now forecasting Brent crude prices at $100 per barrel by the end of 2024, if this is
New Zealand Dollar rises broadly after RBNZ surprised the market with a 50bps interest rate hike. In contrast, Australian Dollar is suffering from cross-selling, extending the post-RBA selloff. Canadian Dollar is taking a breather as oil prices plateau following an earlier surge this week, with WTI still struggling around 80 handle. This divergence in commodity
The price of WTI crude oil futures traded up and down in trading today. The high price reached $81.81. The low price extended to $79.61. Yesterday the price settled at $80.42. WTI crude oil trades between the 50% and 61.8% retracement Today the settled price is modestly higher at $80.71. That’s up $0.29 or 0.36%.
The Reserve Bank of New Zealand raised its cash rate target by 50bp today, to 5.25%. A +25bp was the consensus expected, and very widely at that. The RBNZ blew that out of the water. Governor Orr is hell-bent on driving inflation down in the country. There is more detail in the bullets above. NZD/USD
Share: USD/INR is declining toward 82.00 as investors are yet to discount the overnight sell-off in the USD Index. Weak US Job Openings data is indicating that the tight US labor market is cooling-off. S&P500 futures have added nominal gains after a bearish Tuesday, portraying caution in the overall market mood. The USD/INR pair is
HOUSTON: Oil prices were little changed in choppy trading on Tuesday as investors debated OPEC+ plans to cut more production and weak economic data from the United States and China that could hurt oil demand. Brent crude futures were down 30 cents, or 0.3%, to $84.63 a barrel by 11:05 a.m. ET (1505 GMT). U.S.
Sterling surges to a 10-month high against Dollar today, as comments from a lone dove on the Bank of England’s Monetary Policy Committee seem to have little impact. Pound’s strength against Euro and Swiss Franc suggests a one-sided movement. Meanwhile, Australian Dollar remains the weakest performer following RBA’s decision to hold interest rates steady. With
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