Dollar is finding strength amidst an atmosphere of palpable anxiety in the financial markets, stemming from a continuation of the risk-off mood from US into Asian session. This prevailing anxiety in the markets has been heightened by the pronounced drop in US stocks overnight, coupled with a surge in long-end treasury yields. Adding to the
Month: October 2023
Share: EUR/JPY recovers from a two-day losing streak despite BoJ’s verbal interventions. The risk-off sentiment could limit the potential of the cross-pair. Differences of opinion among ECB officials reflect the complex situation surrounding the Eurozone economy. EUR/JPY recovers from the two-day losses, trading higher around 156.20 during the Asian session on Wednesday. The cross pair receives
Major stock indices fell sharply today as yields continued their march higher. The 10 year yield rose 11.7 basis points to 4.799%. The 30-year is approaching 5% at 4.927%. Much stronger JOLTs job openings data was the catalyst for higher rates: Dow industrial average had its worst trading day since March 22 NASDAQ index equaled
Gold price tumbled by Rs 650 to Rs 57,550 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had ended at Rs 58,200 per 10 grams. Silver also nosedived Rs 1,800 to Rs 71,500 per kilogramme. Gold and silver prices
In the spotlight today are the developments within the treasury markets. US 10-year yields have soared, reaching their highest point since 2007. This surge is largely attributed to expectations that Fed will keep high interest rates for longer, if not push them even higher. Fed hawks have been vocal this week, indicating the plausible scenario
U.S. Treasury Secretary Janet Yellen said that the United States has become overly dependent on China for critical supply chains. Yellen was speaking at a Fortune CEO event in Washington. Adding: the US does not want to decouple economically from China US would face national security concerns without a robust semiconductor sector of its own
Members of the crypto community have rallied behind a post on X calling for Elon Musk to remove the profile on the platform that has been claiming to be the fabled creator of Bitcoin (BTC) Satoshi Nakamoto. On Oct. 3 the X profile Pledditor posted saying both the account claiming to be Satoshi Nakamoto and
Share: Silver price falls back as US Job Openings data outperformed expectations. Upbeat job openings data indicate that labor demand by US employers improves. Silver price delivered a breakdown of the H&S chart pattern, which resulted in a vertical sell-off. Sliver price (XAG/USD) resumes its downside journey as the United States Bureau of Labor Statistics
US: The Fed left interest rates unchanged as expected. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024. Fed Chair Powell reaffirmed
Gold continued its slide on Tuesday, clocking its longest losing streak since Aug. 2022 in the last session as Federal Reserve officials underscored the likelihood interest rates will stay high, with U.S. job openings data expected later in the day. FUNDAMENTALS Spot gold was down 0.2% at $1,824.10 per ounce by 0057 GMT, falling for
Australian Dollar is facing heavy downward pressure, emerging as the most underperforming currency this week so far. The weak under tone is maintained following RBA’s decision to hold interest rates steady. Both Aussie and Kiwi have relinquished the gains made the previous week, a reversal exacerbated by an evident risk aversion in Asia. Significant decline
The changes among major currencies are mostly relatively light so far on the day, outside of the antipodeans. EUR/USD is flattish around 1.0480 now and seen holding within a 34 pips range only today. There are large option expiries at 1.0495 that are in play to keep price action pinned just below 1.0500. Meanwhile, USD/JPY
Share: USD/JPY strengthens due to the increased risk-off sentiment. BoJ announced an unscheduled bond-purchasing exercise on Monday. Higher US Treasury yields contribute support to underpin the Greenback. USD/JPY surges to its highest level in eleven months, hovering around the 149.90. This upward movement is attributed to the US Dollar (USD) benefiting from a decline in
The GBPUSD is trading to a new session low as the clock ticks toward the end of day. in the process, the price is ticking down toward the 38.2% retracement of the move up from the September 26, 2022 low. That retracement level comes in at 1.20763. After a trend move higher as we saw
Gold prices on Friday braced for their biggest monthly fall since February, hovering around levels at over six-month lows on the prospects of higher-for-longer U.S. interest rates ahead of a widely watched U.S. inflation print due later in the day. FUNDAMENTALS * Spot gold was up 0.1% at $1,866.41 per ounce by 0020 GMT, set
Dollar is experiencing a broad rise today, buoyed by an uptick in treasury yields and risk aversion sentiments. The US Congress averted potential economic turbulence by passing a stopgap funding bill over the weekend, ensuring the federal government doesn’t enter its fourth partial shutdown within a decade. However, this positive momentum in US futures was
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Two 50 million Tether (USDT) transactions have been transferred from Bitfinex to the “Tether Treasury” address, according to transfer receipts from Whale Alert. Both transactions took place on Oct. 2, 2023, two minutes apart. The first lump sum of 50 million USDT occurred at 9:43 am UTC and was worth $50,039,125. The second was at