Share: The Japanese Yen languishes near its lowest level since November 28 against the USD. Japanese consumer inflation eases as expected and reaffirms bets for a BoJ status quo. A positive risk tone also undermines the safe-haven JPY and lends support to USD/JPY. Reduced bets for a March Fed rate cut and rising US bond
Month: January 2024
Gold prices were set on Friday for their worst week in more than a month, as the dollar and Treasury yields strengthened after U.S. central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy. FUNDAMENTALS * Spot gold edged 0.1% higher to $2,023.52 per ounce by 0158 GMT.
The NZDUSD trended lower into yesterday’s trade, but after reading it at 200 day moving average near 0.60901, and a swing area between 0.6078 and 0.6085, the selling baby in the price corrected the upside. That move to the upside took the price to an Asian session high of 0.6135. That was short of the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The forex market displayed relative tranquility in Asian session, with major currencies confined to tight ranges. This subdued atmosphere reflects a degree of stabilization in investor sentiment, mirrored in the performance of major Asian stock indexes which are either experiencing mild recoveries or registering only slight losses. A notable exception to this picture is China’s
Raphael Bostic at Jackson Hole, Wyoming David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank’s goal. Bostic, a voting member this year on the rate-setting Federal
Share: The US Dollar trades in the green in the aftermath of the weekly US Jobless Claims. Traders hear Fed’s Bostic call again for a steady-for-longer outlook. The US Dollar Index failed to close above the important technical level of 103.40. The US Dollar (USD) trades slightly higher in the aftermath of US Jobless Claims
Gold prices rose on Thursday, helped by a softer U.S. dollar and the Middle East conflict lifting safe-haven appeal, while investors await further comments from a Federal Reserve official to gauge the central bank‘s interest rate trajectory. Spot gold rose 0.5% to $2,015.79 per ounce by 1255 GMT, but was lingering near its five-week low
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The major US stock indices are mixed in early US trading. A snapshot of the market currently shows: Dow Industrial Average -83.40 points or -0.22% at 37185.50 S&P index up 20.63 points or 0.45% at 4760.50 NASDAQ index is leading the way with a gain of 155 points or 1.04% at 15008.10 The small-cap Russell
Dollar bounces in early US session, buoyed by unexpectedly low initial jobless claims data, which also lifts US 10-year yield. One of the key themes emerging this week is recalibration of market expectations regarding rate cut by Fed in March, with the probability now down to around 56%. Today’s job data is likely another factor
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the
Jakub Porzycki | Nurphoto | Getty Images The world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions. Here are TSMC’s fourth-quarter results versus LSEG consensus estimates: Revenue: 625.53 billion New Taiwan dollars ($19.62 billion), vs. NT$618.31 billion expected Net income: NT$238.71 billion, vs. NT$225.22 billion
Share: AUD/JPY moves above a key level of 97.00 after the Australian economic data. Aussie Consumer Inflation Expectations and Unemployment Rate remained consistent at 4.5% and 3.9%, respectively. Japanese Yen faces challenges as BoJ is expected to maintain an ultra-dovish stance. AUD/JPY extends its gains for the second straight session, improving to near 97.10 during
Gold prices edged higher on Thursday, helped by a softer U.S. dollar and lower Treasury yields, but hovered near five-week lows as investors tempered rate-cut optimism after hawkish comments from central bank officials and robust data. FUNDAMENTALS * Spot gold rose 0.2% to $2,010.59 per ounce by 0121 GMT, a day after it fell to
The USDJPY has continued it trend like move the upside today. In the process the price cracked above the 100-day moving average and 61.8% retracement of the move down from the November high. That level came in at 147.45. The subsequent run to the upside after that break, so the pair move up to a
The continuing messages from Chinese authorities are of plans for no large scale stimulus, with overnight reports of: Chinese Premier Li Qiang gave his clearest signal yet that Beijing won’t resort to huge stimulus to revive growth amid the worst bout of deflation in decades Li was speaking to the World Economic Forum. This should
Prevailing mood of risk aversion was evident in Asian session today. Hong Kong stocks led the region lower, reflecting investors’ dissatisfaction with the latest batch of Chinese economic data. While China’s Q4 GDP growth wasn’t far off from analysts’ expectations, it still fell short for some, contributing to the market’s cautious stance. Additionally, concerns were
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