In this article ADBE Follow your favorite stocksCREATE FREE ACCOUNT Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange in New York City, Feb. 20, 2024. Brendan Mcdermid | Reuters Adobe reported third-quarter results on Thursday that beat Wall Street expectations for sales and earnings,
Month: September 2024
EUR/USD rises as increasing bets of a large cut by the Federal Reserve weigh on the US Dollar. The ECB said it remains data-dependent for further monetary policy action after Thursday’s cut. ECB’s President Lagarde refrained from providing a specific interest-rate cut path. EUR/USD strengthens at the expense of a weak US Dollar. The US
Dollar fell sharply overnight as the probability of a 50bps rate cut by Fed next week increased significantly. According to fed fund futures, the odds of a half-point cut now sit at around 40%, a notable jump from just 14% the day before. Market participants had widely assumed that Fed was firmly on track for
The USDCAD is finding buyers against its rising 100 hour moving average currently at 1.35756 (see rising blue line on the chart below). Stay above that moving average will keep the buyers more in control. Also in play is a 200 day moving average at 1.35889. On the topside, there is work to do to
USD/JPY vs US Treasury 10-year yields (%) daily chart 10-year yields in the US are now down by 5.5 bps to 3.625% and that is weighing further on USD/JPY today. The pair is now down 1% to fresh lows at 140.43 and that is bringing closer the December 2023 low at 140.24 as well as
China, the world’s largest metals consumer, and uncertainty about the timing of interest rate cuts. However, the market reversed course in the following month, with most metals rebounding strongly, particularly aluminium, which managed to recover its earlier losses. After plunging to near six-month lows, aluminium prices staged an impressive comeback, climbing to nearly one-month highs.
Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates. The producer price index, a measure of final demand goods and services costs that producers receive, increased 0.2% on the month, the Bureau of Labor Statistics said Thursday. That matched
In this article ORCL Follow your favorite stocksCREATE FREE ACCOUNT Oracle Corp. CEO Safra Catz walks on the floor of the New York Stock Exchange as Oracle rang the opening bell in celebration of its 10th anniversary of listing on the exchange in New York on July 12, 2023. Spencer Platt | Getty Images Oracle
EUR/USD rallied on a weakening Greenback on Thursday. US PPI inflation data failed to spark any major moves, but remained steady. The market’s Fed-centric tilt continues unabated as the wait for rate cuts rolls on. EUR/USD found higher ground on Thursday, rising back above the 1.1050 level as markets lean into a risk-on stance after
Euro made a modest recovery following ECB’s decision to cut deposit rate by 25bps, a move widely anticipated by the markets. The rate cut, decided unanimously, brings the deposit rate to 3.75%. During her post-meeting press conference, ECB President Christine Lagarde provided no surprise, reiterating the central bank’s commitment to a “data-dependent” and “meeting-by-meeting” approach.
The EURUSD is running to a new high for the day up to 1.10597. That has now taken the price of the pair above its 200-hour MA at 1.10563. Traders will be looking for more upside momentum on the break. The price is also moving away from the 100-hour MA AND the broken 38.2% of
After a sharp declines last week when they NASDAQ index fell by -5.77% and the S&P fell by -4.25%, each of those indices are up for four consecutive days this week. The NASDAQ index is now up 5.27%, while the S&P index as rebounded by 3.46% this week. Looking at the major indices today: Dow
Gold prices declined Rs 250 to Rs 74,350 per 10 grams in the national capital on Thursday, while silver rates surged to reclaim the 87,000 level, according to All India Sarafa Association. On Wednesday, the precious metal or pure gold (99.9 per cent purity) ended at Rs 74,600 per 10 grams. However, silver price rallied
A view shows a bronze seal beside a door at the U.S. Treasury building in Washington, U.S., January 20, 2023. Kevin Lamarque | Reuters The U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported Thursday. With the
It’s been a topsy-turvy stock market since the Club’s August Monthly Meeting. The S & P 500 jumped 1.8% over the period, while the Dow Jones Industrial Average and Nasdaq Composite advanced 2.1% and 0.9%, respectively. But it hasn’t been a one-way climb for the stock market. Investor concerns around the longevity of the generative artificial
EUR/USD exhibits uncertainty near 1.1000 ahead of the ECB’s policy decision. The ECB is expected to cut the Rate On Deposit Facility by 25 bps to 3.5%. Sticky US inflation data cements Fed’s 25 bps interest rate cut prospects for next week’s policy meeting. EUR/USD remains under pressure as the US Dollar (USD) refreshes its
The stronger-than-anticipated core inflation data initially sent shockwaves through US equities overnight, sparking a deep sell-off. However, tech stocks led a remarkable recovery, with all major indexes finishing in green. Notably, S&P 500 posted a remarkable reversal, ending the day up more than 1% after having fallen over -1% intraday—a feat not seen since 2022.
Fundamental Overview Yesterday, we got the US CPI report and, although as expected it didn’t have the same large impact as it used to, the core m/m figure surprised to the upside. The shelter component re-accelerated and that’s something to keep an eye on given the imminent rate cut cycle. The data triggered a repricing
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