Dollar weakens broadly in today’s Asian session as markets await what could be the last Fed rate hike in the current cycle. Risk sentiment is on the downside, with stock selloff carrying over from the US to Asia. Despite this, the greenback sees no apparent support. Conversely, Yen benefits from cautious sentiment a decline in
Month: May 2023
Share: People’s Bank of China (PBOC) set the USD/CNY central rate at 6.9054 on Thursday, versus previous fix of 6.9249 and market expectations of 6.9061. It’s worth noting that the USD/CNY closed near 6.9179 the previous day. In addition to the daily USD/CNY fix, the PBOC conveys details of the Open Market Operations (OMO), suggesting an injection
USDCAD falls to moving average and a swing level target. The USDCAD has seen the price move down to test key support near the convert 100 and 200 hour moving average at 1.3587. Below that is a swing level near 1.35825. The low price reached 1.3581 just below those levels, but has bounced back higher.
Caixin / S&P Global China Manufacturing PMI for March 2023 drops into contraction at 49.5 expected 50.3, prior 50.0 Into contraction for the first time in 3 months. The report summarises the Key findings: Output expands only fractionally as demand conditions soften Input costs and selling prices fall at quickest rates in over seven years
Federal Reserve Board Chair Jerome Powell holds a news conference after the Fed raised interest rates by a quarter of a percentage point following a two-day meeting of the Federal Open Market Committee (FOMC) on interest rate policy in Washington, March 22, 2023. Leah Millis | Reuters After the rescue of First Republic Bank by
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Cristiano Amon, president and CEO of Qualcomm, speaks during the Milken Institute Global Conference on May 2, 2022, in Beverly Hills, Calif. Patrick T. Fallon | AFP | Getty Images Qualcomm reported second-quarter earnings on Wednesday that were in line with analyst expectations but saw
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LONDON -Oil prices extended losses on Wednesday after plunging 5% in the previous session, as investors fretted about the health of the US economy ahead of an expected Federal Reserve interest rate hike later in the day. Brent futures fell $1.99, or 2.6%, to $73.33 a barrel by 1225 GMT, while West Texas Intermediate crude
Dollar remains weak in early US session, despite strong ADP job data, seeing only modest gains the Australian and Canadian Dollars. However, the selloff remains contained, even against strong Yen and Swiss Franc. Traders are evidently holding their bets as they await FOMC rate decision. A 25bps hike to 5.00-5.25% is widely anticipated, and it
AUDUSD wanders toward 100/200 hour MAs The AUDUSD has moved up and down today but is trading marginally lower on the day. The low – reached in the last hourly bar – moved to a new intraday low of 0.6649. That took the price closer to the 200 hour MA at 0.66457 and near the
ISM services data for April 2023 Adam Button Wednesday, 03/05/2023 | 14:00 GMT-0 03/05/2023 | 14:00 GMT-0 Prior was 51.2 employment index 50.8 versus 51.3 prior new orders index 56.1 versus 52.2 expected prices paid index 59.6 versus 59.5 prior new export orders 60.9 versus 43.7 last month imports 51.3 versus 43.6 last month backlog
Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead, payroll processing firm ADP reported Wednesday. Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. The gain was the highest monthly increase
In this article SBUX Follow your favorite stocksCREATE FREE ACCOUNT Starbucks Coffee logo is seen on cups in the cafe in Krakow, Poland on February 16, 2023. Nurphoto | Nurphoto | Getty Images Starbucks on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by better-than-expected international sales. Here’s what the company reported
Share: GBP/USD is consolidating in the low 1.25 area. Economists at Scotiabank expect the pair to enjoy further gains. Short-term price patterns are mildly bullish “The fact that Cable is trading on a 1.25 handle remains a broader positive for the Pound, given it has struggled mightily to extend gains through the mid-1.24 area this
The lawyers and consulting firms assisting cryptocurrency exchange FTX through its bankruptcy proceedings are set to cash in a total of $103 million over the first quarter. March saw five firms — Sullivan & Cromwell, Alvarez & Marshal, AlixPartners, Quinn Emmanuel Urquhart & Sullivan and Landis Rath & Cobb — bill FTX a combined $36.4
Gold prices held steady above the key $2,000 level on Wednesday, while investors turned their attention to the U.S. Federal Reserve’s interest rate-hike verdict due later in the day. Spot gold held its ground at $2,016.29 per ounce by 0140 GMT after rising more than 1% in the previous session, as yields dropped on renewed