Yen’s rally intensified overnight and continues in Asian session. The move came in particular as US 10-year yield tumbled following the poor GDP report. For now, Dollar and Euro are the worst performing ones for the week, followed by Canadian. Sterling is following Yen as the second strongest and then Aussie. A large batch of
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Growth in the euro zone economy accelerated in the second quarter of the year, but the region’s prospects get hit as Russia continues to reduce gas supplies. The 19-member bloc registered a gross domestic product rate of 0.7% in the second quarter, according to Eurostat, Europe’s statistics office, beating expectations of 0.2% growth. It comes
In this article PG Tide, a laundry detergent owned by the Procter & Gamble company, is seen on a store shelf on October 20, 2020 in Miami, Florida. Joe Raedle | Getty Images Procter & Gamble on Friday reported mixed quarterly results as the consumer products giant faced rising commodity costs and warned it expects
Some of the shine has been taken of the strong US dollar but case for more sustained and deeper sell off is not yet compelling, explained analysts at MUFG Bank. They consider that global growth fears are supportive for the greenback. They added the Federal Reserve policy pivot is not yet sufficiently dovish. Key Quotes:
USDCAD back below the 100 hour moving average The USDCAD moved to a another month low (and traded to the lowest level since June 13) in the late Asian session. Looking at the hourly chart, the low price reached 1.27874. That low also grace the downward sloping trendline on the hourly chart connecting last Friday’s
University of Michigan rebounds slightly The University of Michigan sentiment data is out (final) for July: preliminary report consumer sentiment 51.5 vs. 51.1 estimate and 50.0 preliminary current conditions 58.1 vs. preliminary 53.8 expectations 47.3 vs. preliminary 47.5 one year inflation 5.2% vs. preliminary 5.3%. Last month 5.2% 5 year inflation 2.9% vs. preliminary 3.1%.
New Delhi, Gold prices rose by Rs 255 to Rs 51,783 per 10 grams in the national capital in line with strong global cues, according to Securities. The precious metal had closed at Rs 51,528 per 10 grams in the previous trade. Silver also surged by Rs 1,610 to Rs 58,387 per kg from Rs
Dollar is recovering in early US session, follow another print of strong consumer inflation. 10-year yield is also back above 2.7% handle. Still, the greenback is the worst performer for the week together with Euro. Yen is retreating mildly but stays the strongest one for the week, followed by Sterling. Commodity currencies are mixed, slightly
An inflation gauge that the Federal Reserve uses as its primary barometer jumped to its highest 12-month gain in more than 40 years in June, the Bureau of Economic Analysis reported Friday. The personal consumption expenditures price index rose 6.8%, the biggest 12-month move since the 6.9% increase in January 1982. The index rose 1%
In this article XOM A floorhand operates a Chevron oil drilling rig near Taft, California. Chip Chipman | Bloomberg | Getty Images Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boosted operations, and as the oil giants kept spending in check. Chevron reported earnings of $11.62 billion
USD/JPY recovers over 200 pips from a multi-week low and climbs back closer to the daily high. A solid intraday USD bounce turns out to be a key factor behind the strong intraday move up. The lack of follow-through buying beyond the 50-day SMA warrants caution for bullish traders. The USD/JPY pair is prolonging its
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Bitcoin (BTC) delivered a swift six-week high into July 29 as the aftermath of the latest macro developments boosted risk assets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Monthly close could seal 20% gains Data from Cointelegraph Markets Pro and TradingView captured local highs of $24,445 for BTC/USD on Bitstamp, its best since the week beginning
EURJPY trends lower The EURJPY is the biggest mover on the day. The pair has declined nearly 2% (down -1.97% currently). The current price is at 136.51. The low for the day reached 136.39. Technically, the day started with the pair banging against the 100 hour MA (blue line in the chart above) and a
A snippet on gold from ANZ’s run down of Thursday’s price moves: Gold climbed after the US economy shrank for a second consecutive quarter. The subsequent lower USD and bond yields saw investor demand pick up. This also clouds the outlook for further aggressive rate hikes, which as weighed on investor demand for the precious
Gold prices were flat on Friday and poised for a fourth consecutive monthly drop, as an elevated U.S. dollar and aggressive monetary policies from top central banks continued to erode demand for bullion. FUNDAMENTALS * Spot gold was flat at $1,755.59 per ounce, as of 0045 GMT. U.S. gold futures edged up 0.1% to $1,752.70