Yen’s selloff is a dominant theme in the markets today as major global treasury yields strengthen. In particular, Germany 10-year bund year is back at around -0.18, above -0.2 handle. US 10-year yield is trading at 1.675 at the time of writing, with a take on 1.7 handle before weekend a possibility. Dollar recovers mildly
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A sale pending sign is posted in front of a home for sale in San Anselmo, California. Justin Sullivan | California Pending home sales, a measure of signed contracts on existing homes, rose 1.9% in March compared with April, according to the National Association of Realtors. Forecasters had expected a 5% gain. Pending sales were
An employee walks past eBay signage at the company’s headquarters in San Jose, California. David Paul Morris | Bloomberg | Getty Images Shares of eBay slumped more than 11% on Thursday morning after the company reported earnings outlook for the current quarter that fell short of Wall Street’s estimates. EBay said Wednesday afternoon that it
EUR/USD touched a fresh two-month high on Thursday. USD selloff pauses after upbeat GDP data from US. Focus shifts to Q1 GDP figures from eurozone and Germany. The EUR/USD pair posted strong gains on Wednesday and climbed to its highest level in two months at 1.2150 on Thursday before losing its momentum. As of writing,
New York-based exchange-traded product sponsor and asset manager WisdomTree is expanding its digital assets range with the launch of a new Ether (ETH) exchange-traded product, or ETP, on two European stock exchanges. Börse Xetra and Swiss Stock Exchange SIX have both listed WisdomTree’s ETP, which provides investors with exposure to the native currency of the
Taper time? The last Bank of Canada interest rate meeting saw the BoC as the first central bank to start exiting easy monetary policy by unwinding some of its asset purchases program. $4 billion per week was trimmed to $3 billion per week and interest rate hikes were brought forward from 2023 to 2022. The
Give up gains as Powell calls some markets frothy the US stock indices are ending the session lower. The S&P gave up gains into the close and is closing just below unchanged. The Dow industrial average is the biggest loser. The Russell 2000 outperformed and is closing marginally higher. The S&P and NASDAQ are on track
LONDON: Copper paused near 10-year highs on Wednesday ahead of a policy announcement by the U.S. Federal Reserve, but analysts at Goldman Sachs joined others predicting a rally to record levels. Benchmark copper on the London Metal Exchange (LME) was up 0.3 per cent at $9,884.50 a tonne at 1637 GMT after reaching $9,965 on
Dollar’s selloff resumed overnight after FOMC risk was cleared. Basically, Fed just reaffirmed it’s stance that it’s far from considering stimulus exits. Though, for the week so far, Yen is even weaker with strong rebound in global treasury yields. Euro is no far, follow Dollar as third weakest so far. On the other hand, Canadian
A “For Sale” sign outside a house in West Palm Beach, Florida, April 7, 2021. Marco Bello | Bloomberg | Getty Images Home price gains continue to outpace expectations, as tight supply and strong demand lead to bidding wars. Nationally, prices in February rose 12% year over year, up from 11.2% in January, according to
Tim Cook, CEO of Apple, speaks during an Apple Event on April 20th, 2021. Source: Apple Inc. Apple reports its second fiscal quarter earnings on Wednesday after markets close. Here’s what Wall Street expects, per Refinitiv consensus estimates: Earnings: 99 cents per share Revenue: $77.36 billion The company is coming off of its biggest quarter
Open interest in Natural Gas futures markets went up by around 4.5K contracts on Wednesday, partially reversing the previous daily drop according to preliminary prints from CME Group. Volume, on the other hand, shrunk by around 62.8K contracts after two builds in a row. Natural Gas approaches the $3.00 mark Prices of Natural Gas trade
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Initial reaction is USD selling There isn’t much to digest in the FOMC decision. There were no actions or changes to guidance. Powell will take questions shortly but if the statement is any indication, he’s not going to offer anything new. The early market reaction is modest US dollar selling. Some of that is a
A look at what’s happened I’m not worried about the FOMC but I am worried about this chart. At the June 10 FOMC press conference, Powell delivered a classic line: “We’re not thinking about raising rates. We’re not even thinking about thinking about raising rates”. The highlights of that statement and press conference were almost
gold futures eased below the Rs 47,000 per 10 grams mark on Wednesday amid firming up US Treasury yields ahead of the outcome of Federal Reserve’s scheduled policy review later in the day. MCX gold futures for delivery on June 4 eased by Rs 378 or 0.80 per cent to quote at Rs 46,925 per