European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer ones overall. Dollar and Yen are
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USDCAD bulls were knocked back as the US Dollar slumps again. All eyes are on US CPI and Fed speakers this week. USDCAD is trading flat on the day following an initial surge in the early part of the New York session into shorts established at the start of the day in Asia and London.
USDJPY moves toward next downside target The nonfarm payroll came in better-than-expected. The unemployment rate was off low levels but still very low. Earnings were touch higher than expected with the year on year coming in as expected and lower than last month but still at 4.7% (but that is less the inflation rate). The
That’s a positive response to the setback from the start of trading today, with US futures having fallen by around 0.5% as we began European morning trade. The risk mood was rather sluggish early on after news that China is denying any pivot from its zero-Covid policy over the weekend. That saw the dollar gap
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Solana co-founder Anatoly Yakovenko says the past year has been mired by the network’s reliability issues and outages, but recent updates will help the blockchain resolve its reliability issues. During the Breakpoint 2022 annual conference in Lisbon, Portugal on Nov. 5, Yakovenko discussed the past and future of the blockchain, noting the network has faced difficulties
New Delhi: Gold prices edged higher on Monday as the weakness in the US dollar supported the yellow metal. However, profit booking after a sharp rise in the previous session weighed on the bullion’s sentiments. Investors are focused on the US inflation data due later this week. The data is likely to shed some light
The forex markets are rather steady in Asia today. While stocks in China and Hong Kong extending last week’s strong rebound, Aussie and Kiwi are not following for now. Some traders are on guard to rumors of reopening in China, in particular with a district in Guangzhou still extending tough lockdown. The economic calendar is
Why is the Dollar easing? There are sufficient convincing arguments supporting USD strength, but their effect is reasonably weak if the Dollar is already “expensive” anyway, economists at Commerzbank report. Fed will have to stifle the economy if inflation is due to shortages on the US labor market “A strong labor market report should have
USDCHF fell sharply The USDCHF moved higher initially after the US jobs report, but then reversed and tumbled to the downside. The fall took the price back below the 100 hour moving average at 1.0030 and below the 50% midpoint of the range since October 21 (that high was duplicated during yesterday’s trade). That midpoint
AAPL with the Captain Obvious warning on supply reduction. In brief from a company statement: COVID-19 restrictions have temporarily impacted the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility located in Zhengzhou, China. The facility is currently operating at significantly reduced capacity. As we have done throughout the COVID-19 pandemic, we are
In this article SQ Follow your favorite stocksCREATE FREE ACCOUNT Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square arrives on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. Joe Raedle | Getty Images
At first, gold and silver breathed a sigh of relief as the US Federal Reserve pointed to a slower path of interest-rate increases but took a U-turn as the ultimate interest-rate level could be higher than expected. These moves again underpin the dominance of monetary policy for gold and silver. Ultimately, the key question remains
The pound rallies 1.9% on the day to close the week near 1.1400. US unemployment and wage inflation data hit the dollar. The pound has shrugged off post-BoE’s bearish pressure. The pound has continued appreciating during Friday’s US afternoon trading, buoyed by the broad-based USD weakness, to reach session highs at 1.1380. The pair has
In this video, Greg Michalowski of Forexlive.com reviews the Fed and the US jobs report and previews the CPI data ahead. He also looks at the technicals that define the bias and the risk levels for the major currencies vs the USD. EURUSD (9:45) USDJPY (14:10) GBPUSD (15:38) USDCHF (17:00) USDCAD (18:48) AUDUSD (20:30) NZDUSD
Here’s the picture in gold the way I see it. 1) It has declined for seven straight months That’s certainly not a sign of a bull market but nothing falls in a straight line and the decline of 13% is better than many major currencies over that period. The decline is mostly a story of
In this article COIN Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, the Coinbase logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images Coinbase reported user numbers that topped analysts’ estimates even as third-quarter revenue missed estimates and the cryptocurrency exchange had a wider-than-expected loss.