USD/JPY meets with a fresh supply and retreats sharply from the 145.00 neighbourhood. Jawboning by Japanese authorities points to an imminent intervention and boosts the JPY. The emergence of some selling around the USD also contributes to the intraday downfall. The USD/JPY pair faces rejection near the 145.00 psychological mark and retreats from the vicinity
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The price of Apple was one of the shining big cap tech stocks from the June low. The low reached 129.05 on June 16. By August 17, the price was back up at 176.12. That was just below the end of year level at 177.59. Yes, the price got within $1.43 of the unchanged for
Westpac have updated their Australian dollar outlook, in brief: The Russia-driven supply squeeze should keep a floor under energy prices, strengthening Australia’s already large trade surpluses. But Aussie rallies should be capped against a US dollar backed by the Fed’s determination to remain aggressive on rate hikes until there is compelling evidence of core inflation
Gold price in the national capital declined by Rs 314 to Rs 50,905 per 10 grams on Tuesday amid rupee appreciation, according to HDFC Securities. The price of the yellow metal touched Rs 51,219 per 10 grams on Monday. However, the COMEX spot price of gold was marginally lower at USD 1,723.60 per ounce compared
Dollar rebounds strongly in early US session after stronger than expected consumer inflation reading. 10-year yield jumps sharply and breaks above 3.4% handle DOW futures are down over -300 pts at the time of writing. The case for a 75bps hike by Fed is pretty much sealed. The question is whether markets will bet on
A person shops in a supermarket as inflation affected consumer prices in New York City, June 10, 2022. Andrew Kelly | Reuters For the better part of a year, the inflation narrative among many economists and policymakers was that it was essentially a food and fuel problem. Once supply chains eased and gas prices abated,
NZD/USD remains depressed at the 29-month low after New Zealand data. New Zealand Current Account deficit increased more than expected in Q2. Bears printed the biggest daily slump in since March 2020 after US inflation data renewed recession woes. Thursday’s New Zealand GDP, US Retail Sales will be important for fresh impulse. NZD/USD holds lower
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) disclosed on Tuesday a partnership with fintech company Symbiont to provide more accurate data for financial firms through blockchain technology. Vanguard, Citigroup, American Century Investments, and Northern Trust are among the companies participating in the initiative. According to the announcement, the pilot project “could help providers distribute data
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10 year yield traded to the highest level since June 16 The US auctions today were met with tepid demand. The 3- year auction had a tail of 1.4 bps above the WI level at the time of the auction. The foreign demand was lower than the average. The 10 year auction had a tail
Prior 89.9 US small business confidence picked up slightly in August as worries about inflation subsided and demand for workers remained strong despite relative economic uncertainty. The number of businesses that reported that inflation was their single most important problem was seen at 29% – down 8 points from July, which was the highest since
Gold prices held firm on Tuesday near a two-week high hit in the previous session, helped by a subdued dollar, while investors awaited U.S. inflation data that could provide cues on the Federal Reserve’s interest rate hike path. FUNDAMENTALS * Spot gold rose 0.1% to $1,725.70 per ounce, as of 0041 GMT. * U.S. gold
Dollar and Yen are staying as the weakest ones for the week as focus turns to US inflation data. European majors are the strongest ones so far, even though Euro’s rise is losing some momentum. Commodity currencies are mixed for now, despite improving risk sentiment. Technically, EUR/JPY’s rally is slowing ahead of 61.8% projection of
USD/CAD turns lower for the fourth straight day and is pressured by a combination of factors. Bullish oil prices underpin the loonie and act as a headwind amid sustained USD selling bias. The market focus remains glued to the release of the crucial US consumer inflation figures. The USD/CAD pair struggles to capitalize on its
EUR/USD has had a few dips under parity but so far has shown resilience from under 1. Analysts at Scotiabank have highlighted a close-by topside level to watch for significance in consolidating a bullish technical picture. EUR(/USD) … price dynamics remain positive for the pair, which maintains the strong, short-term uptrend that developed earlier last
Referring to this from Monday’s info: Goldman Sachs‘ chief economist Jan Hatzius is not worried: “I don’t think it’s a black swan” “I don’t think it’s going to have a major impact on food prices, certainly beyond the very near term” Hitting 30% of US freight sure sounds like a supply chain snarl worry. ADVERTISEMENT
Gold prices ticked higher on Monday as the dollar hovered near recent lows, with investors’ focus being on a key U.S. inflation reading as it could influence the size of the Federal Reserve’s next interest-rate hike. FUNDAMENTALS * Spot gold rose 0.1% to $1,717.17 per ounce, as of 0057 GMT. * U.S. gold futures were