The AUDUSD moved above a ceiling from June and July 2023 near 0.6900 last week on it’s way to a high near 0.6941. After trying to hold support near the 0.6900 level on Friday, Monday and part of Tuesday, the sellers started to exert more downside momentum falling to a low of 0.68557 in the
Month: October 2024
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
Gold and Silver prices rebounded on Thursday due to fresh demand from stockists and retail consumers for the ongoing festival. The precious metal rose Rs 200 to revisit the all-time high level of Rs 78,300 per 10 grams, according to the All India Sarafa Association. It had closed at Rs 78,100 per 10 grams on
Deutsche Bank is striking a cautious tone on Dover ‘s stock ahead of the industrial conglomerate’s upcoming earnings report. Jim Cramer is saying don’t fall for it. The firm’s wariness on Dover lands not long after the Federal Reserve began its rate-cutting cycle – generally seen as a positive development for economically sensitive corners of the market
Indian Rupee edges lower in Thursday’s early European session. The risk-off sentiment and higher crude oil prices drag the INR lower. Investors await the US September ISM Services PMI on Thursday ahead of employment data. The Indian Rupee (INR) softens on the day, pressured by the renewed US Dollar (USD) demand. The risk-off mood amid the
Global markets are showing mixed performance as sentiment diverges across regions. In the US, stocks closed lower with traders displaying increased caution. ISM manufacturing report indicated continuation of the prolonged recession in the sector, though without any sharp deterioration. Attention is now focused on upcoming key economic data, including tomorrow’s ISM services report and Friday’s
The USDJPY is trading to a new high at 146.47. In doing so, the pair is up testing the high from last Friday at 146.465. Technically, a move above that high with momentum would have traders targeting the tabletop near 147.189 from September 2 and September 3 The move was largely driven earlier in 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
Gold touched a new high of ₹78,300 per 10 gm on Wednesday due to safe-haven buying amid escalating tensions in the Middle East, and lower US bond yields. Market participants are expecting the yellow metal to rise further if global geopolitical uncertainties worsen. Prices rose by ₹1,500 per 10 gm compared to Tuesday. Kumar Jain,
Private sector hiring picked up in September, indicating the labor market is holding its ground despite some signs of weakness, payrolls processing firm ADP reported Wednesday. Companies added 143,000 jobs for the month, an acceleration from the upwardly revised 103,000 in August and better than the 128,000 consensus forecast from economists polled by Dow Jones.
In this article LEVI Follow your favorite stocksCREATE FREE ACCOUNT Justin Sullivan | Getty Images Denim-crazed consumers are turning to Levi Strauss & Co for new jeans, but the company’s overall business is being dragged down by its Dockers brand, which the company is now considering selling off, it announced Wednesday. Sales at Levi’s brand
EUR/GBP ends its pullback and resumes its bearish tempo. The RSI is converging bullishly with price, however, signifying a lack of bearish momentum accompanies the latest move. EUR/GBP has finished pulling back and resumed its downtrend. It has broken below the 0.8317 September 24 low, confirming a lower low and extension towards the next target
Japanese Yen weakened notably in early US session, reacting to rising US Treasury yields, which were boosted by stronger-than-expected US ADP job data. Adding to Yen’s decline, Japan’s new Prime Minister, Shigeru Ishiba, who was initially perceived as a monetary hawk, has softened his stance on interest rate hikes. After meeting with BoJ Governor Kazuo
Fundamental Overview The US Dollar got a bit of a boost this week as Fed Chair Powell reiterated that 50 bps of easing by year end remains the base case. The market’s probability for the Fed to cut by 50 bps in November fell from 51% to 40% as a result. On the data side,
USD/JPY rose to the best levels of the day after the US ADP employment report beat estimates. Jobs rose by 143K in the month of September compared to 120K expected. USD/JPY broke 145 on the report and is now up 162 pip to 145.18. The broader moves are coming on both sides of the trade.
Oil prices climbed more than 3% on Wednesday on rising concerns that Middle East tensions could escalate, potentially disrupting crude output from the region, following Iran’s biggest ever military blow against Israel. Brent futures reached their highest in a month, leaping $2.42, or 3.3%, to $75.98 a barrel. U.S. West Texas Intermediate (WTI) crude spiked
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia cut its growth forecasts and raised its budget deficit estimates for the fiscal years 2024 to 2026, looking ahead to a period of higher spending and lower projected oil revenues. Real gross domestic product is now expected to grow 0.8% this year, a dramatic
The Australian Dollar gains ground as the RBA is widely expected to hold a hawkish stance regarding its policy outlook. The AiG Industry Index eased in September, rising 4.9 points to -18.6 from -23.5 prior reading. The US Dollar receives support from the market caution amid rising Middle-East tensions. The Australian Dollar (AUD) retraces its