Japanese Yen is extending its rally in the early US session holding on to its gains and emerging as the second strongest currency for the week, just behind Swiss Franc. Despite persistently above-target inflation data, it remains unlikely that BoJ will make a shift in monetary policy next week. Additionally, the lack of volatility in
Month: April 2023
Share: USD/CAD climbs to a nearly two-week high and draws support from a combination of factors. The recent slump in Crude Oil prices continues to undermine the Loonie and acts as a tailwind. Bets for more Fed rate hikes and a softer risk tone lift the USD back closer to the weekly high. The USD/CAD
WTI crude oil stalled against its 100 day moving average WTI crude oil futures settle at $77.29, declining by $1.87 or 2.36%. Throughout the day, prices fluctuated between a low of $76.97 and a high of $79.07. Examining the daily chart, the low price narrowly missed its 100-day moving average (MA) by $0.14, settling at
The pound is doing that thing where it is following the action in commodity currencies again today, with it being one of the worst performing major currencies alongside the antipodeans. GBP/USD is now down 0.5% to 1.2380, sitting near the lows for the day. The pair had already come under pressure from the softer UK
The latest U.S. economic data suggests a recession is coming, according to the chief executive of financial advisory firm Longview Economics, and investors may need to prepare for some pain in the stock market. Speaking to CNBC’s “Squawk Box Europe” on Friday, Chris Watling said he believed a recession was on its way, citing what
In this article ABT Follow your favorite stocksCREATE FREE ACCOUNT The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images Shares of Abbott Laboratories popped Wednesday after the company’s earnings and revenue topped Wall Street’s expectations, defying a dramatic slowdown in sales of its Covid-19 tests. The
Gold has been one of the top-performing asset classes in terms of returns over the past year. The returns from the yellow metal from the last Akshaya Tritiya (May 3, 2022) are around 20% and is likely to maintain momentum for the next 12 months. Investors can consider buying gold and related instruments not just
Swiss Franc is currently the strongest performer for the day, showing a notable gain the Euro. Japanese Yen and Australian Dollar follow closely, indicating that the market moves are not predominantly driven by risk aversion. In contrast, New Zealand Dollar is the weakest, as lower-than-expected inflation data increases hopes that RBNZ is nearing a pause
Share: Dark cloud cover in the EUR/JPY daily chart suggests a pullback could be underway. EUR/JPY sellers are losing momentum as oscillators shifted neutral. The EUR/JPY retraced Wednesday’s gains on Thursday, as the pair formed a dark cloud cover. The two-candlestick chart pattern suggests the pair could be headed downwards, but a daily close below
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Th major US stock indices are rotating lower. The S&P index is traded to a new session low. The NASDAQ is also now breaking below the low from the 1st hour of trading today. Looking at the hourly chart of the S&P index the price is testing a upward sloping trend line. A move below
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A home in Lynch, Kentucky. Scott Olson | Getty Images The banking turmoil of March, which saw the collapse of several regional U.S. lenders, will lead to a credit crunch for “small-town America,” according to veteran strategist David Roche. The collapse of Silicon Valley Bank and two other small U.S. lenders last month triggered contagion
Nokia new logo displayed on mobile, with Nokia logo on screen. Nurphoto | Nurphoto | Getty Images Finnish telecoms giant Nokia on Thursday posted quarterly operating profit that fell short of market expectations. The firm reported operating profit of 479 million euros ($524.94 million) in the first quarter, down from 583 million in the same
Decentralized finance (DeFi) protocol 1inch has deployed its aggregation and limit order protocols on Ethereum layer-2 scaling solution zkSync Era to tap into faster and cheaper transactions. 1inch Network is the latest of a host of Ethereum-based platforms and services to deploy on the zero-knowledge proof (zk-proof) based scaling platform. Uniswap, SushiSwap, Maker and Curve
NEW DELHI: Gold prices softened on Thursday following strength in the US dollar as Street keeps its eyes fixed on the Federal Open Market Committee (FOMC) meeting scheduled early next month. Bullion is expected to trade range-bound over the next two weeks. Any rate hike by the US Federal Reserve is expected to strengthen the
New Zealand Dollar dropped broadly in Asian session today after a lower-than-expected consumer inflation reading increased speculation that the next RBNZ rate hike may be the last in the current cycle. This development also pulled Australian Dollar down, making them the day’s worst performers so far. In contrast, Swiss Franc and Euro are trading higher,
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