Equities give up some ground on Friday but remain poised for fresh records. Earnings season continues to see record growth in earnings Fed remains committed to full employment and a fully accommodative stance. Another week another set of fresh records for equity markets. There really is no alternative (TINA) continues to dominate the narrative. The
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As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion.
A look at oil WTI crude settled down $1.43 to $63.58 today, a 2.2% drop. The decline comes after three solid days of gains in a row. The bulls continue to point to reopening demand while the bears point to new covid shutdowns and the OPEC+ overhang. In terms of market balance, global inventories are
Range for the week up to 168 pips The pair moved down to test a swing area at 1.3807 to 1.3811. Dip buyers/profit takers came in against the area and have push the price back toward the 50% retracement 1.3838. If the sellers are to remain in firm control staying below that midpoint level would
Domestic gold prices seesawed between gains and losses on Friday amid rising US Treasury yields and a slump on Dalal Street. Where on one hand higher US yields rendered the yellow metal less attractive, deep losses in equities back home led investors to run safer instruments, say analysts. MCX gold futures for delivery on June
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
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