Dollar rebound in early US session after much stronger than expected PCE inflation data. Though, at this point, Canadian Dollar remains slightly firmer, as supported by GDP data. Yen is also recovering with mild retreat in German and Japan yields, as well as mild risk aversion. European majors are, on the other hand, the weaker
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L-R: Dorris Bowden, Jane Darwell and Henry Fonda on the set of the film The Grapes of Wrath directed by John Ford based on John Steinbeck novel by the same tittle. Sunset Boulevard | Corbis Historical | Getty Images The anticipated economic boom following the coronavirus pandemic has been likened to the “Roaring ’20s” by
Warren Buffett (L), CEO of Berkshire Hathaway, and Vice Chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019. Johannes Eisele | AFP | Getty Images Warren Buffett will kick off Berkshire Hathaway‘s annual shareholder meeting this Saturday riding high, with shares of the conglomerate at a record and its
Analysts at MUFG Bank, continue to see a trade idea in going long the AUD/USD pair with a target at 0.7895 with stop loss at 0.7460. The point out the global optimism should lift the Australian dollar to fresh cycle highs. Key Quotes: “The better vaccination outlook in Europe and positive growth prospects in China
Turkish authorities are progressing with an investigation into local cryptocurrency exchange Thodex, which abruptly halted trading last week. On Thursday, a Turkish court jailed six suspects pending trial, including siblings of the missing CEO and senior company employees, Reuters reported. As part of a probe, Interpol reportedly issued a red notice for Thodex CEO and founder
Bank of Japan At the last BoJ policy meeting on April 27 there were no surprises. Interest rates remained at 0.10%. The Yield Curve Control (YCC) was maintained to target 10 year JGB yields at 0.0%. The vote on YCC was made by 8-1 votes with Katoaka the dissenter. Better times ahead The general outlook
Up $1.15 at 1.80% The WTI crude oil futures are settling at $65.01 or up $1.15 or 1.80%. The high for the day reached $65.47, while the low for the day reached $63.65. The price is up for the 3rd straight day with bigger gains over the last two days. The gains are being helped
NEW DELHI: Gold and silver futures were trading with cuts on Friday as higher US Treasury yields dampened the metal’s appeal, while palladium eased off a record high scale a day earlier. Benchmark US 10-year Treasury yields rose to a more than two-week high in the previous session, increasing the opportunity cost of holding non-yielding
The Fed voted unanimously to leave the Fed funds rate target at 0-0.25%. It also decided to keep the asset purchases at US$120B per month. As expected, the Fed upgraded the economic assessments but continued to warn of downside risks. Fed Chair Jerome Powell at the press conference noted that the Committee has not talked
Economic activity boomed to start 2021, as widespread vaccinations and more fuel from government spending helped get the U.S. closer to where it was before the Covid-19 pandemic struck, the Commerce Department reported Thursday. Gross domestic product, the sum of all goods and services produced in the economy, jumped 6.4% for the first three months
In this article AMZN Jeff Bezos, founder of Amazon Katherine Taylor | Reuters Amazon is set to report first quarter earnings after the bell Thursday. Here’s what analysts are expecting: Earnings: $9.54 per share, according to Refinitiv Revenue: $104.47 billion, according to Refinitiv Few companies have benefited from the pandemic-fueled surge of online shopping as
Gold remains on the back foot for the second consecutive day. 21-day, 50-day EMA convergence restricts immediate downside, $1,798 holds the key for buyer’s entry. Gold trims intraday losses while picking bids around $1,768.50, down 0.20%, heading into Friday’s European session. In doing so, the bright metal justifies late Thursday’s bounce off a two-week low,
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GBP/USD up 7 pips to 1.3943 today ANZ Research discusses GBP/USD outlook and maintains a bullish bias through year-end. ANZ targets GBP/USD at 1.46 by year-end and at 1.50 into mid-22. “Supported by growing evidence that the easing of pandemic restrictions is underpinning UK growth, GBP/USD has regained its uptrend,” ANZ notes. “Against the backdrop
Two moves below the 200 day MA today both failed The USDCHF yesterday tried to extended above its 200 hour moving average for the first time since April 5 (higher green line in the chart below). The move above failed, and buyers turned to sellers. The price trended lower. Today, the Asian and London session lows move below the key
LONDON: Copper slipped on Thursday after briefly punching above the $10,000 level, last broken a decade ago, as speculators locked in profits amid worries about industrial demand. Three-month copper on the London Metal Exchange touched $10,008 a tonne before retreating 0.3% to $9,847 a tonne by 1400 GMT. The last time copper rose above $10,000