Share: The trade-weighted US Dollar Index against a basket of 26 currencies is up more than 5% from its July low. Economists at the National Bank of Canada analyze Greenback’s outlook. Interest rate differentials support Dollar appreciation The USD’s strength has been supported by widening interest rate differentials with its major trading partners. US yields
Month: October 2023
Decentralized liquid staking protocol Lido Finance has announced a decision to cease operations on the Solana blockchain following a community vote in Lido’s decentralized autonomous organization. The proposal to sunset Lido on Solana was first put forward by Lido’s peer-to-peer team on Sept. 5, citing unsustainable financials and low fees generated by Lido on Solana.
As the day moves toward the close in the North American session, and traders look toward the start of the Asia-Pacific session, both the EURUSD and the GBPUSD are moving above their 200-hour moving averages. Not far away are the 38.2% retracement and 100-hour moving averages for each. So both pairs are looking toward that
Via Reuters report: The top U.S. general overseeing American forces in the Middle East made an unannounced trip to Israel on Tuesday, saying he hoped to ensure its military has what it needs as it fights a deepening war against Palestinian militant group Hamas. Army General Michael “Erik” Kurilla, head of U.S. Central Command “I’m
New Delhi, The National Stock Exchange (NSE) on Monday said it has launched 13 new commodity derivatives contracts, a move that will help investors efficiently manage their risk. With this launch, NSE offers 28 products in the commodity derivatives segment, the exchange said in a statement. The 13 new derivatives contracts that have been launched
Financial markets are holding steady yet exhibit a sense of nervous anticipation as the new week commences. The conflicts between Israel and Hamas continues to take center stage, with concerns mounting over the potential for the violence to engulf the broader region. Volatility and unpredictability of the geopolitical situation mean that unexpected escalations could stir
Share: Crude oil prices continue the losses after news on the US-Venezuela Oil deal. US could sign a pact with the Venezuelan government involving easing sanctions on its oil industry. Traders appear to be adopting a wait-and-see approach; seeking more cues related to the Middle East conflict. The Western Texas Intermediate (WTI) oil price experiences
The USDCAD has moved modestly lower to start the trading week, and in the process is testing a swing area on the 4-hour chart between 1.3600 and 1.36125. Also, on the way on the downside is the rising 100-hour moving average at 1.3597, and its 200-bar moving average at 1.3576. Recall that the 200-bar moving
Political leaders only meet at the highest levels when deals have already been agreed on by deputies. The reporting on this one says that no oil and gas deals are to be signed, so you wonder if something else is in the works. The last time they met, Putin launched the Ukraine invasion shortly afterwards.
Stablecoin issuer Tether has moved to freeze 32 addresses linked to terrorist activity in Israel and Ukraine in collaboration with local law enforcement agencies. $873,118 worth of Tether (USDT) linked to illicit activity in Israel and Ukraine have been frozen, according to an announcement from the company. The action was taken in collaboration with Israel’s
Gold price plunged Rs 350 to Rs 60,150 per 10 grams in the national capital on Monday amid weak cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 60,500 per 10 grams in the previous trade. Silver also declined Rs 300 to Rs 74,000 per kg. In the global
A quiet yet tense atmosphere pervades the financial markets today, as traders’ anticipation builds, eyes keenly focused on unfolding developments in the Israel-Hamas conflicts. Such geopolitical uncertainties are casting a shadow over most major trading hubs, prompting cautious moves among investors. In the European markets, major indexes are painting a mixed image. FTSE is registering
Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Pool | Via Reuters U.S. Treasury Secretary Janet Yellen said the country can “absolutely” afford to financially support both Israel and Ukraine in their respective war efforts. President Joe Biden in a post on
Share: The Euro keeps the bid bias unchanged against the US Dollar. Stocks in Europe close the session with a decent advance across the board. EUR/USD faces immediate target at the 1.0600 hurdle. The USD Index (DXY) meets initial support around 106.30. German Wholesale Prices rose 0.2% MoM in September. US NY Empire State Manufacturing Index worsens less
NZD/USD has popped a few points in the early hours here on Monday with only New Zealand markets underway: The marking higher of the kiwi $ is a market dynamics move rather than an important shift in fundamentals. If you think the new government will solve all the problems the NZ economy is facing and
I posted analysis from TD here earlier: Adding some more remarks, including forecasts for WTI: current positioning analytics suggest that substantial buying activity could take place north of $90.50/bbl in Brent, supporting continued strength the risk premium driven by the current Israel-Hamas conflict, prompts us to say that WTI crude will trade above the $90/bbl
Discounts on Russian oil imported by India have nearly doubled in the past two months to $8- 10 per barrel as state refiners mounted pressure on suppliers and reduced their intake from Russia for a while, according to people familiar with the matter. Expanding discounts have boosted imports, increasing Russian oil’s share in India’s overall
Share: As risks of the Hamas-Israel war engulfing the entire region mount, the United States (US) and its allies step up their efforts to douse the flare-up, as they remain concerned about a potential Iranian intervention in the conflict. White House National Security Advisor Jake Sullivan said Sunday the US couldn’t rule out Iran intervening either directly
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