Share: The Reserve Bank of Australia (RBA) will announce its next Interest Rate Decision on Tuesday, October 3 at 03:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the upcoming central bank’s decision. The RBA is expected to keep
Month: October 2023
The more hawkish FOMC dot plot led to a huge selloff in Gold as the rise in real yields increases the opportunity cost of buying into Gold even more. As long as the economic data remains this resilient, we will likely see more downside for Gold as the Fed will keep its hawkish stance. For
Ministers and oil industry chiefs are gathering for the biggest energy conference in the Middle East as crude heads toward $100 a barrel. Whether prices can hold at these levels and the outlook for OPEC+ supply cuts are among topics that will be discussed from Monday. But this year, climate is looming large over the
USD/JPY is making notable advances today, resuming recent up trend, and edging closer to 150 psychological handle. AT the same time, Nikkei rebounds, reclaiming 32000 mark. The combined risk-on sentiment could be attributed to investors’ positive response to the optimistic quarterly Tankan survey results, overshadowing the less favorable PMI Manufacturing data. Despite Japan’s repeated attempts
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Share: USD/JPY gains traction near 149.70 amid the USD demand. BoJ Governor said that the central bank has a long way to go before exiting its ultra-loose monetary policy. The US annual Core PCE Price Index grew 3.9% from 4.3% in July, in line with expectations. Investors will monitor the US ISM Manufacturing PMI, Fed
The EURUSD is looking to close the trading week below the 200-hour MA and a cluster of resistance near 1.0610, but above the 100-hour MA at 1.05614. Those levels will be the barometers for buyers and sellers in the new trading week. In the video, I break down the levels and explain why they are
Gold prices declined Rs 250 to Rs 58,700 per 10 grams in the national capital on Friday amid a fall in precious metal prices overseas, according to HDFC Securities. The yellow metal had closed at Rs 58,950 per 10 grams in the previous trade. However, silver surged Rs 1,200 to Rs 74,300 per kilogram. Delhi
An update on US governance. The US Congress passed a last-minute stop gap bill to keep the government running for 45 days while disputing parties, and warring factions within them, try to hammer out a more enduring agreement. The House passed the band-aid spending bill on Saturday The Senate the bill later that same evening
What are crypto synthetic assets? Blockchain-based financial instruments called crypto synthetic assets imitate the value and behavior of actual assets or financial instruments. Crypto synthetic assets, also known as “synthetic assets,” are a class of digital financial instruments created to mimic the value and performance of actual financial assets or assets from the real world,
Share: Canadian Dollar back into recent lows as Crude Oil prices tumble on Friday. Canadian GDP missed market expectations, economic growth came in flat. USD/CAD etches in a new high for the week as CAD slips, US Dollar recovers. The Canadian Dollar (CAD) saw both a new high and a new low against the US
Weekly WTI Oil is near the lows of the day, down 96-cents but still has some breathing room in what looks like it will be another weekly close above $90. Still, it feels like something of a loss for the bulls, or at least a loss of momentum. We touched $95 early on Thursday before
COMEX Gold prices experienced a significant downturn, marking their most substantial weekly loss in months. The yellow metal slid below the critical $1,900 per troy ounce threshold, primarily in response to a sharp surge in US treasury yields. This surge in yields elevated the opportunity cost of holding gold. At its September policy meeting, the
Nasdaq Comp We’ve seen this script before. Treasury yields came off the lows and slowly the gains in equities faded. The FX market might have been the tell earlier as money started to move into US dollars, something I alluded to. I just don’t know how you could have a lot of confidence in that
Share: The GBP/USD initially rose on Friday, but got knocked lower as the market broadly swept back into the US Dollar. The US Dollar index caught a late bid to push back into the middle to close out the trading week. Recession risk is still quite high in the UK, capping Pound Sterling bids. The