Share: GBP/USD is offered on Monday, extending losses from Friday while the dollar index is finishing July down after a similar loss in June. However, the Greenback is rebounded from July lows that printed following below-forecast US core PCE that favoured the Fed being done with rate hikes. The following illustrates the prospects of a low close for the day
Month: July 2023
Gold prices fell by Rs 100 to Rs 60,350 per 10 grams in the national capital on Monday amid a decline in the precious metal in global markets, according to HDFC Securities. The precious metal had closed at Rs 60,450 per 10 grams in the previous trade. Silver also dropped by Rs 300 to Rs
EURUSD expands the range today, but still above support The EURUSD started the US session with a low at 1.1004 and just above the 61.8% retracement at 1.1002. The high was at 1.1037 which was just short of the 100-hour MA. That was a narrow range of only about 33 pips In the NY morning
On the final day of each month the US Energy Information Administration releases monthly demand figures and they continue to stress that the weekly data can’t be trusted. Today’s report pegs US total demand at 20.776m bpd in May using monthly data, that’s up 973,000 bpd from the 19.803m bpd using the weekly data. More
Commodity currencies are trading generally higher today on mildly positive market sentiment. Australian Dollar is the stronger one among them, ahead of RBA’s rate decision tomorrow. Opinions on whether RBA would hike by 25bps next month (i.e. August 1 tomorrow) are divided . Major local banks exhibit this split sentiment, with Commonwealth Bank and Westpac
Cityscape of Saudi capital Riyadh. Harri Jarvelainen Photography | Moment | Getty Images Saudi Arabia’s economy slowed in the second quarter, as crude output cuts and a drop in oil prices reined in one of the fastest growing nations of the G20. Riyadh’s GDP expanded by an annual 1.1% in the second quarter, the Saudi
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Authorities in the town of Miri on the island of Borneo shut down an illegal cryptocurrency mining operation and seized equipment following a tip-off from the public. According to local news outlet The Borneo Post, Sarawak Energy discovered the operation, which included 34 cryptocurrency mining servers operating using stolen electricity through cable tapping. Authorities seized all
Share: The Dollar is proving quite resilient. Economists at ING analyze USD outlook. Dollar can probably trade out ranges over coming weeks Cross-market volatility remains low – perhaps as investors are now expecting prolonged pauses in core interest rate markets. This remains a negative for the Japanese Yen and a positive for the high yielders
Goldman Sachs on Sunday revised up its global oil demand forecast for the year while sticking to its 12-month Brent price projection of $93 per barrel as higher realized inventories offset the demand boost from a less pessimistic growth outlook. Goldman analysts estimate global oil demand climbed to an all-time high of 102.8 million barrels
Last week, the Fed hiked the interest rates by 25 bps as widely expected. The market was more focused on the Fed Chair Powell’s press conference for signals on the future moves. Unfortunately, Powell didn’t offer anything for the market as he kept all the options on the table and just repeated their data dependency
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A Samsung Galaxy Z Fold 5 smartphone, left, a Galaxy Z Flip 5 smartphone during the Galaxy Unpacked event in Seoul, South Korea, on Wednesday, July 26, 2023. Samsung introduced the fifth generation of its foldable smartphones on Wednesday, seeking to counter a sluggish market for devices and upcoming rival products from Apple Inc. SeongJoon
COMEX Gold prices started the week on a negative note as mixed data from the US coupled with weak economic data from the European peers bolstered the greenback. US Services activity slowed more than forecast in July, however, manufacturing activity rebounded to a three-month high. At the same time, European and UK Services activity eased
The Bank of Japan met and eased their yield curve control on the 10 year effectively expanding their tolerance by a further 50 basis points to 1.0%. That news – and the other news this week – has the pair moving back toward a neutral level after up-and-down-volatility. The pair is trading near the 38.2%
MON: Japanese Retail Sales (Jun), Chinese Official PMI (Jul), German Flash GDP (Q2), New Zealand Labour CostIndex (Q2) TUE: RBA Announcement, Chinese Caixin Manufacturing Final PMI (Jul), German/EZ Unemployment Rates (Jul), EZ/UK/US Final Manufacturing PMIs (Jul), US ISM Manufacturing PMI (Jul), New Zealand Jobs Report (Q2) WED: BCB Announcement, US ADP Employment (Jul) THU: BoE
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