Dollar was sold off broadly overnight and stays weak in Asian session. Markets well received Fed Chair Jerome Powell’s message that tightening pace is going to slow ahead. While stocks also rebounded, Yen reacted more to falling benchmark treasury yields. As for the week, the greenback is now the worst performer. Euro follows as second
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Treasury Secretary Janet Yellen said Thursday the U.S. economy is in a state of transition, not recession, despite two consecutive quarters of negative growth. Recession, Yellen insisted, is a “broad-based weakening of our economy” that includes substantial layoffs, business closures, strains in household finances and a slowdown in private sector activity. “That is not what
In this article CMCSA CMCSA Comcast reported second-quarter revenue and earnings that topped analyst estimates, but the cable provider didn’t add broadband customers in a quarter for the first time ever. Comcast’s high-speed internet customers in the quarter were flat, trailing the 84,000 average analyst estimate, according to FactSet. The company’s shares fell more than 9%
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US 10 year yield fall away from 100 day MA The US 10 year yield is moving sharply to the downside. The current yield is at 2.68%. That’s down around 10 basis points on the day. The low yield reached 2.66%. That was the lowest level since April 14. Looking at the daily chart above,
OPEC+ will keep output steady or weight a small hike, according to eight sources cited by Reuters. Two sources said there would likely be a small boost in production while 5 said it would be held steady. “There are various talks ranging form a small increase to a freeze on current levels,” said one of
Gold in the national capital on Thursday jumped Rs 592 to Rs 51,750 per 10 grams, amid a rally in international precious metal prices, according to Securities. In the previous trade, the yellow metal finished at Rs 51,158 per 10 grams. Silver also surged by Rs 1,335 to Rs 56,937 per kg from Rs 55,602
Yen rises strongly today, and buying intensifies in early US session, after surprisingly poor US GDP data. Benchmark treasury yield in both the US and Germany tumble sharply, aiding Yen’s advance. Swiss Franc is also strong For now, Euro is the worst performer for today, as selling started earlier in European session already, while Sterling
The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday. Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate. That follows a 1.6% decline in the first
Coronavirus disease (COVID-19) treatment pill Paxlovid is seen in boxes, at Misericordia hospital in Grosseto, Italy, February 8, 2022. Jennifer Lorenzini | Reuters Pfizer’s second-quarter revenue and profit beat Wall Street expectations, driven by sales of its Covid-19 vaccine and its antiviral treatment Paxlovid. Pfizer booked $27.7 billion in revenue, a 47% increase over the
Here is what you need to know on Thursday, July 28: The Fed did as expected but unexpectedly went all dovish, saying it will adopt a wait-and-see approach going forward. Risk assets liked what they heard and rallied hard, but US GDP just out confirms a recession as the economy shrank 0.9% when growth of 0.5%
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Crypto markets have been pumping since the announcement of a 75 basis point interest rate hike in the United States, with experts explaining that the markets may have been initially bracing for much worse. On July 27, price of Bitcoin (BTC) surged around 8% to the mid $22,500 mark following the Federal Open Markets Committee
S&P index is testing a key cluster of resistance The S&P index has moved to the highest level since June 9. The price high took out the high from last Friday at 4012.44. The high price just reached 4018.65. The price has since rotated to 4008.48 currently. Technically, the 38.2% retracement of the move down
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NEW DELHI: Gold price little changed on Wednesday ahead of the Federal Reserve’s outcome as investors stayed cautious over the outlook for the bullion. The US central bank is widely expected to raise interest rates by another 75 basis points (bps) at the conclusion of its policy meeting on Wednesday, as it attempts to tame
Dollar is trading with a soft tone today, as focus turns to FOMC rate decision. Another 75bps hike is widely expected and Chair Jerome Powell is not expected to deliver any dramatic comments. Traders would likely come back after the event risk is cleared. In the currency markets, Euro is staying under much pressure on