Dow Jones gives away initial gains as investors digest Powell, US services data. US Services activity softened against expectations in March with the Prices Paid sub-index posting its lowest reading in years. Intel is leading losses in the Dow Jones after news of hefty losses in its foundry business. The Dow Jones Industrial Average (DJIA) has returned
Month: April 2024
In this video, I take a detailed look at the levels in play for the USDJPY as we look toward the US close and the start of the new trading day. On the top side there is a strong ceiling in place between 151.91 and 151.97. On the downside, there is support against the 100
The major US stock indices are closing mixed. The Dow industrial averages lower. The broader S&P and NASDAQ indices are up modestly. The final numbers are showing: Dow Industrial Average -43.23 points or 0.31% S&P index of 5.78 points or 0.11% at 5211.59 NASDAQ index up 37.01 points or 0.23% at 16277.46 The small-cap Russell
Oil prices extended gains on Wednesday as investors worried about supply disruptions from a worsening geopolitical landscape, although a surprise jump in U.S. crude oil inventories eased some of those concerns. Brent crude futures rose 84 cents, or 0.9%, to $89.76 a barrel by 11:38 a.m. ET (1538 GMT). U.S. West Texas Intermediate futures rose
The forex markets showed rather muted response to the latest batch of economic data released today. Euro has continued its near-term recovery, unaffected by Eurozone’s lower than expected CPI flash data coming. This lack of response likely stems from the understanding that a slight miss in CPI figures does not significantly alter ECB plans for
Flat Rock, North Carolina, parked tractor trailer billboard with now hiring, Ingles supermarket. Jeff Greenberg | Universal Images Group | Getty Images Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday. Companies added 184,000 workers on
EUR/USD is rebounding from intraday-chart oversold lows. Eurozone inflation data on Wednesday could impact interest-rate expectations and the exchange rate. The recovery could rise a little further but the short-term trend remains bearish. EUR/USD is edging higher on Wednesday, making it back into the 1.0770s and extending the previous day’s rebound from six-week lows. It
A Bullish Beacon in Forex: The Unstoppable Rise of the Peso 📈 The Mexican Peso’s journey is a bright spot in the Forex markets, proving to be a treasure trove for those with the right strategy and the virtue of patience. Opinion: Mexican Pesos are strong and rising October’s Opportunity: Quick Dips and Steady Gains
The dollar saw a solid upside move following Monday’s beat in the ISM manufacturing PMI. As a result many are expecting a similar beat in the ISM services or the NFP to see a similar reaction. Even though that might be true in the very short-term, there is a risk dollar bulls need to keep
Gold prices opened with a Rs 440 per 10 grams uptick on the MCX on Wednesday, continuing their winning run over the past one month. While gold hit a lifetime high of Rs 69,487 (April futures) this week, it was trading at Rs 69,369 up by 0.64% over the previous closing price around 10.10 am.
Dollar retreated mildly following comments from two FOMC members, including a known hawkish figure, reiterating expectations for three interest rate cuts within the year. Despite this, the retreat remains subdued as there is no guarantee yet for a June cut. Fed’s approach continues to be heavily influenced by incoming data. The greenback’s next move will
Mexican Peso climbs on Greenback as Mexico’s stable Business Confidence overshadows climbing US Treasury yields. Mexico’s economic schedule will feature Gross Fixed Investment and upcoming Banxico minutes. Despite positive US job and factory order figures, the Greenback’s rally loses momentum. The Mexican Peso recovered some ground against the US Dollar on Tuesday after upbeat economic
The NZDUSD moved lower yesterday and found support at a swing level off the daily chart and near a downward sloping trend line on the hourly chart. The subsequent rise today has seen the price move up to test a key hourly moving average. That moving average held resistance yesterday, and it held resistance on
US major indices sink, but close off lows. Russell 2000 led the way to the downside. The Dow and the NASDAQ closed down near 1%. A snapshot of the final numbers shows: Dow industrial average -396.63 points or -1.00% at 39170.23. At session lows the index was down -515.16 points S&P index -37.98 points or
After hitting an all-time high level, gold prices on Tuesday fell Rs 50 to Rs 68,370 per 10 grams in the local market, following weak trends in the international markets, according to HDFC Securities. In the previous session, the precious metal closed at Rs 68,420 per 10 grams. However, silver prices climbed Rs 430 to
Currency markets shifted their attention towards the sell-off in Swiss Franc today, a reaction to the substantial rally observed in European and US treasury yields. With the 10-year yields in Germany and UK climbing back above 2.4% and towards 4.1% respectively, and US 10-year yield setting sights on 4.4%. The surge in yields comes on
USD The Fed left interest rates unchanged as expected with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. Fed Chair Powell maintained a neutral stance as he said that it was
Prior 42.5 Despite a slight revision higher to the initial reading, it is still a five-month low. Weak demand conditions is still the main problem and we’re starting to see employment conditions also take a slight hit. The good news at least is that price pressures are easing a touch amid the softness in demand.