Dollar’s rebound extends further today and remains firm entering into US session. Yen is following as the second strongest. Markets are paring back recent strong risk-on sentiment, on concern of near term deterioration in coronavirus spread and lockdowns. Commodity currencies are generally weakest for now, as led by Australian Dollar. European majors are mixed, with
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Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Lululemon said Monday it’s now expecting earnings and sales for the fourth quarter to come in at the high end of its prior outlook, thanks to strong performance during the holidays. Ahead of virtual
NZD/USD has struggled to regain composure after sliding below the 0.7200 level. The pair has been weighed by a stronger US dollar amid a risk-off market tone and higher US bond yields. NZD broke to the south of a bullish medium-term trend channel in early Monday Asia trade. NZD/USD opened Monday Asia Pacific FX trade
Negative start to the trading week The NASDAQ index is opening up down over 1% as concerned about big tech and the potential for less stimulus as Dems and GOP argue about impeachment. A snapshot of the major indices currently shows: S&P index -28.33 points or -0.75% at 3796.92 NASDAQ index -143 points or -1.09% at 13058
Crypto-custody provider and securities firm, Propine, has graduated from the Monetary Authority of Singapore’s fintech regulatory sandbox program, emerging with a Capital Markets Services License, and the green-light to commence full operations. The Singapore-based securities services firm for institutional clients was admitted entry to the MAS regulatory sandbox on Nov. 8, 2019, and participated for
What’s happening in FX today The new week kicks off with a bit of a change of pace from what market participants have been accustomed to. Stocks aren’t already pushing fresh record highs, under a little pressure, and the US dollar isn’t getting slammed, coming back into favor. [embedded content] For bank trade ideas, check
Soybean prices on Monday fell by Rs 43 to Rs 4,566 per quintal in futures market as participants cut down their positions on weak spot demand. On the National Commodity and Derivatives Exchange, soybean contracts for January delivery fell Rs 43, or 0.93 per cent, to Rs 4,566 per quintal with an open interest of
China’s inflation surprised to the upside in December. Thanks to food price, headline CPI improved to +0.2% y/y in December, compared to deflation of -0.5% a month ago. Food inflation rebounded to +1.2% y/y, after contracting -2% a month ago, as pork price deflation narrowed to -1.3% from November’s -12.5%. Inflation in fresh fruit accelerated
DXY moves further north of the 90.00 mark on Monday. US 10-year yields give away initial gains above 1.12%. Fedspeak, ECB’s Lagarde will take centre stage later. The US Dollar Index (DXY), which gauges the greenback vs. its main competitors, extends the upside momentum beyond the key 90.00 barrier. US Dollar Index looks to yields,
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Gold down more than $100 in three days Gold jumped to start the year but it’s crumbled since the Senate election. The market is signaling that higher US rates and better growth will diminish demand for gold. Technically, the 61.8% retracement of the rally since November clocks in at $1839. For bank trade ideas, check
The Asian timezone is seeing some risk-off moves with US equity index futures on Globex falling and currencies also as the USD gains. In the mix today is the news that Trump may be impeached for a second time as soon as this week. If impeachment is going to impact I’ve put together a summary
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -1.66 mmb to 1343.7 mmb in the week ended January 1. Crude oil inventory fell -8.01 mmb (consensus: -2.13 mmb) to 485.46 mmb. Stockpile decreased in ALL 5 PADDs. PADD 3 (Gulf Coast) alone
Here is what you need to know on Monday, January 11: The greenback advanced on Friday despite a disappointing Nonfarm Payroll report, as job losses spurred speculation that more fiscal stimulus is in the docket. President-elect Joe Biden called for immediate further fiscal support, including increased direct payments of $ 2,000. The dollar gains were
Below the 61.8% retracement The EURUSD has dipped to a new session low and in the process has moved below the 61.8% retracement of the choppy trading since the December 21 low. That level comes in at 1.22127. The price has stayed below since breaking. Earlier today, the 100 hour MA stalled the rally not
Bitcoin (BTC) price has once again dropped below the $40,000 level on Jan. 10 after crisscrossing it for the past three days as the spotlight shifted to altcoins. The BTC price drop comes after another failure to break through resistance at $41,500 in weekend trading. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview One reason for