Oil prices eased in early trade on Tuesday, extending their losses from the previous session when prices fell to their lowest in four months, as investors worried about supply ticking up later in the year. Brent crude futures fell 20 cents or 0.3 % $78.16 a barrel. Brent closed below $80 for the first time
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Trading in the forex markets is subdued US session gets underway, with weaker-than-expected U.S. ADP private job data failing to stir significant movement in the Dollar. Despite the slowdown in job gains and pay growth, the job market remains robust. US futures are pointing to a flat open, and the 10-year yield is down slightly.
Private job creation slowed more than expected in May, according to a report Wednesday from ADP that signals further sluggishness in the labor market. The payroll processing firm said that companies added 152,000 jobs on the month, fewer than the downwardly revised 188,000 in April and below the Dow Jones consensus estimate for 175,000. This
In this article LULU Follow your favorite stocksCREATE FREE ACCOUNT A staff member holds a thermometer to measure the temperature of a customer at an entrance to a Lululemon store, following the coronavirus disease (COVID-19) outbreak in Shanghai, China June 21, 2022. Picture taken June 21, 2022. Aly Song | Reuters Lululemon‘s growth in the
The Bank of Canada (Boc) matched consensus and reduced its policy rate by 25 bps to 4.75% at its event on Wednesday. [embedded content] In the statement, the bank argued that with ongoing evidence that underlying inflation is easing, monetary policy no longer needs to be as restrictive. In additon, three-month measures of core inflation
Fundamental Overview The mood in the markets has been slowly improving this week after the month-end flows last week impacted the risk sentiment. The US data this week came on the softer side which sent Treasury yields lower and consolidated the market’s expectations of two rate cuts by the end of the year. The risk-on
ADP national employment report Prior month 192K revise to 188K National employment change for May xxxK vs 175K estimate Goods producing 3K vs 47K month Service providing 149K vs 145K last month Wages for job stayers 5% unchanged from prior month Wages for job changers -7.8% from 9.3% prior month. A lower number is indicative
Oil prices extended losses slightly from the previous session in early Asian trading on Wednesday after an industry report showed builds in U.S. crude and fuel stockpiles, adding to concerns around demand growth. Brent crude futures fell 14 cents, or 0.2%, to $77.38 a barrel by 0005 GMT. U.S. West Texas Intermediate crude futures fell
Forex trading in Asian session today was relatively muted, with market participants holding off on major moves in anticipation of impending key events. The spotlight is on BoC, with traders eagerly awaiting its rate decision. There is considerable speculation on whether the central bank will opt for an interest rate cut at this meeting or
The Australian Dollar appreciates after the release of the lower-than-expected GDP data on Wednesday. Australia’s GDP grew 0.1% QoQ in the first quarter, falling short of the expected 0.2% reading. The US Dollar could rebound due to the higher US Treasury yields. The Australian Dollar (AUD) gains ground, possibly due to improved risk sentiment on
USDJPY tests swing area (yellow area) and finds buyers The USDJPY fell sharply today and in the process fell below the 50% midpoint of the move up from the mid-May low at 155.647 and the 61.8% of the same move at 155.162. However, the support swing area between 154.594 and 154.878 stalled the fall. 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
Amid highly volatile sessions and disappointing US PMI data, gold August futures at MCX opened flat at Rs 72,160 per 10 grams down by 0.06% or Rs 43, while silver July contracts stood at Rs 92,099/kg, up 0.07% or Rs 66. Domestic markets settled on a positive note. Gold August futures contract settled at Rs72,203
Japanese Yen and Swiss Franc are seeing significant upward momentum today. As news flow has been very slow, these safe-have currencies’ are likely partly supported by the extended decline in benchmark treasury yields across the US and Europe. This movement also suggests an underlying risk aversion among investors, although the downturns in European indices and
Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve with more impetus to start lowering interest rates. The Labor Department’s Job Openings and Labor Turnover Survey released Tuesday showed that the level of employment vacancies slipped to 8.06 million for the month,
09EUR/USD falls from 1.0900 as the US Dollar steadies but remains feeble due to firm Fed rate-cut prospects. Traders raise Fed rate-cut bets amid fears of slower US economic growth. The ECB is due to announce June’s monetary policy decision on Thursday. EUR/USD slumps from the round-level resistance of 1.0900 in Tuesday’s American session. The major currency pair faces pressure
Fundamental Overview The USD yesterday came under pressure following the miss in the US ISM Manufacturing PMI which triggered a drop in Treasury yields. In terms of market pricing, not much has changed as we still oscillate between one and two rate cuts by the end of the year. Nonetheless, the data reinforced the narrative
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