A note from PIMCO public policy analysts says this on the debt deilinb stad off: “We think a deal – or a framework of a deal – is right around the corner – and likely in days, not weeks. However, like all negotiations, there is a chance that we could see them die before they
Month: May 2023
Market sentiment continue to flip-flop on flowing headlines regarding US debt ceiling negotiations. But then, it should be remembered that it’s not done until it’s done. So uncertainties and volatility still lie ahead. Yen is the consistent one extending its near term decline. Commodity currencies are rebounding with Sterling. But the more important development is
Chinese tech giant Tencent released quarterly results Wednesday. Nurphoto | Nurphoto | Getty Images Tencent reported an 11% jump in first-quarter revenue on Wednesday, marking the fastest growth in more than a year. Here’s how Tencent did in the first quarter, versus Refinitiv consensus estimates: Revenue: 150 billion Chinese yuan ($21.4 billion) vs. 146.09 billion yuan
Share: Wall Street stocks rally on optimism in earnings and the debt ceiling outlook. US500 index is tracking higher towards key resistance area. US stock indexes rose on Wednesday and the S&P 500 was up 43 points, or 1.07%%, at 4,153 at the time of writing. The index made a high of 4,164.67 on the day, rising from
In its latest futures-based exchange-traded funds (ETF) filing, Valkyrie Funds utilizes one of the popular memes from the financial Twitter community, known as “fintwit,” to capture attention and interest. On May 16, the investment firm submitted a new application for a Bitcoin futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“ Both of Valkyrie’s
MCX Gold futures edged higher on Tuesday as the fears around US default rose amid debt ceiling crisis. The June Gold futures were trading at Rs 60,387 per 10 grams, up by Rs 143 or 0.24% in the early trade. Meanwhile July Silver futures were also in the green at Rs 72,668 per kg, up
USDCNH trades to a new 2023 high The offshore yuan (CNH) has hit a new low for 2023, with the USDCNH reaching a high of 6.9981, surpassing the previous high of 6.9951 from March 8. This movement was partly influenced by overnight economic data from China, which painted a concerning picture of a slowing economic
Prior +6.9% Core CPI +5.6% vs +5.6% y/y prelim Prior +5.7% No changes to the initial estimates as headline annual inflation did tick a little higher while core annual inflation was marginally lower in April compared to March. This still just helps to reaffirm the ongoing ECB narrative though, so carry on as you will.
Clear direction is yet to be established in the forex markets this week, with the exception of Yen’s continued depreciation, albeit at a slow pace. Canadian Dollar’s rally, spurred by CPI data, was abruptly halted due to worsening risk sentiment, marked by DOW’s over -330pts drop. US Treasury Secretary Janet Yellen amplified her warning about
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT A customer is seen in the parking lot of the Target store at the Paxton Towne Centre near Harrisburg. Paul Weaver | Lightrocket | Getty Images Target will report fiscal first-quarter earnings before the bell as pricier groceries, rising mortgage rates and summer vacations weigh
Share: EUR/USD is coming under pressure again. Economists at ING expect the pair to test the 1.0800 level. Pressure on 1.0800 coming? “We keep stressing how 1.0800 is probably a key benchmark level to gauge market sentiment about the US debt-ceiling story.” “We could see some good support at 1.0800, and a break lower could
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Gold prices eased in early Asian trade on Tuesday as traders assessed comments from U.S. central bank officials on interest rates staying high, while market focus was also on developments in the debt-ceiling debate. FUNDAMENTALS * Spot gold was down 0.3% at $2,014.62 per ounce by 0029 GMT, while U.S. gold futures eased 0.2% to
AUDUSD retraces most of gains from yesterday The AUDUSD moved higher during Monday’s trade stepping toward the 38.2% retracement of the move down from last week’s high to last week’s low. That level came in at 0.67047. The high price yesterday reached 0.67083 before stalling and moving sideways into the close. The closing price yesterday
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. MUFG has indicated that the Australian Dollar (AUD ) is one of the weakest performers among
Canadian Dollar is enjoying a broad rally in early US trading session, fueled by data that revealed unexpected reacceleration in Canadian consumer inflation for April. The evidence for BoC to resume tightening measures is steadily accumulating. Amid slight risk-off sentiment in US markets, due to persistent uncertainties over debt ceiling negotiations, Swiss Franc and Japanese
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