Dollar weakens broadly weakening in the early US session following the release of a batch of economic data. Durable goods orders presented a mixed bag. Concurrently, continuing claims for unemployment benefits rose to their highest level in more than two-and-a-half years. Despite these indicators, there is no immediate cause for alarm. Instead, traders, observing the
Month: June 2024
Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the
Prior was 4.650% Bid to cover 2.58 vs 2.43 prior Yields steadily fell today ahead of the auction after a grind higher yesterday. We haven’t seen a coupon auction tail since the 3-year offering on June 10th. Since then, 2s, 3s (just now) 5s, 10s, 20s, 30s, and 5-year TIPS all stopped-through. I wouldn’t expect
Gold August futures contracts at MCX opened flat on Thursday at Rs 70,977 per 10 gram, down merely 0.16% or Rs 112, while silver September futures contracts were trading at Rs 88,743/kg, down by 0.44% or Rs 392. Gold prices have steadied slightly after two days of declines. The previous record high in May was
In this article WBA Follow your favorite stocksCREATE FREE ACCOUNT In an aerial view, a customer enters a Walgreens store on January 04, 2024 in San Pablo, California. Justin Sullivan | Getty Images Shares of Walgreens plunged more than 14% on Thursday after the company reported fiscal third-quarter earnings that fell short of expectations and
Here is what you need to know on Thursday, June 27: The Japanese Yen (JPY) recovers slightly after falling to its weakest level since 1986 against the US Dollar (USD) on Wednesday. The European Commission will release consumer and business sentiment data in the European session. The US economic docket will feature the final revision
Yen is showing broad-based recovery today, although the momentum remains weak, following its decline to the lowest level against Dollar since 1986. Japan has finally stepped up its verbal intervention efforts again, with Finance Minister Shunichi Suzuki expressing a “high sense of urgency” regarding Yen’s depreciation. Suzuki pledged to “take necessary action as needed” and
Fundamental Overview Crude oil managed to eventually break above the key $80 resistance as the market has finally started to catch up to positive drivers. In fact, we got the recent OPEC+’s extension of voluntary output cuts, and we are seeing a pickup in economic activity as the US PMIs showed once again last Friday.
The dollar is holding in a decent spot on the week but is marginally lower today against the likes of the euro and sterling. The ranges for the day are still relatively narrow, so I wouldn’t look much into that. Instead, the focus stays on USD/JPY as it trades to its highest levels in more
Gold prices held steady on Thursday after falling to a two-week low in the previous session as the dollar and Treasury yields held firm ahead of a key inflation reading due later this week. FUNDAMENTALS * Spot gold was unchanged at $2,298.88 per ounce, as of 0127 GMT. Bullion was at its lowest since June
In this article MU Follow your favorite stocksCREATE FREE ACCOUNT Sanjay Mehrotra, CEO of Micron Technology Inc., speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 26, 2024. Brendan Mcdermid | Reuters Micron shares fell almost 8% in extended trading on Wednesday
Mexican Peso falls for second consecutive day against US Dollar. USD/MXN hits a daily high of 18.33 before trimming gains as Wall Street turns green. Banxico expected to keep interest rates unchanged at 11.00% amid sharp Peso depreciation and recent inflation spike. Fed Governor Michelle Bowman’s hawkish comments support USD. The Mexican Peso extended its
Yen is drawing significant attention again today as it plummeted past the crucial 160 mark against Dollar, and hit its lowest level in over 37 years. Market participants are vigilantly watching for any signs of intervention from Japanese authorities, yet no action has been taken so far. It should be emphasized again that the tone
Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report yesterday. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it also supports the risk sentiment
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Oil prices inched up on Wednesday nearing their highest level in almost two months, driven by forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from the Middle East conflict. The American Petroleum Institute (API) on Tuesday reported U.S. crude oil stocks rose by 914,000 barrels, market
GP: American flag and Chinese flag Matt Anderson Photography | Moment | Getty Images A recent survey of Chinese enterprises in the U.S. has found that a majority remain bullish on the market long term despite growing concerns about U.S.-China relations and the broader business environment. The annual survey conducted by the China General Chamber
In this article LUV Follow your favorite stocksCREATE FREE ACCOUNT A Southwest Airlines jet is parked Ellison Onizuka Kona International Airport at Kehole awaiting passengers on January 20, 2024 in Kailua-Kona, Hawaii. Kevin Carter | Getty Images Southwest Airlines shares fell roughly 4% in premarket trading on Wednesday after the carrier cut its second-quarter revenue
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