EURUSD The EURUSD has returned back down toward the 100 and 200 hour moving averages currently near converged at 1.0717. The move to the downside comes after a break back above those moving averages earlier in the late London morning session. The high price extended up to the low of a swing area between 1.0748
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Eurostoxx -0.7% Germany DAX -0.6% UK FTSE -0.6% France CAC 40 -0.6% Spain IBEX -0.4% This follows the drop yesterday as sentiment stays rather sluggish with Wall Street also retreating. US futures are more tepid for the time being with S&P 500 futures flat but the overall mood isn’t really hinting at much so far
June 9: Gold inched lower on Thursday, with prices restrained by rising Treasury yields ahead of key U.S. jobs and inflation data this week. FUNDAMENTALS * Spot gold was down 0.1% at $1,852.21 per ounce, as of 0052 GMT, while U.S. gold futures also eased 0.1% to $1,853.90. * Benchmark U.S. 10-year Treasury yields firmed
Yen is recovering slightly in Asian session today, digesting recent steep selloff. The climax selling is temporarily past as focuses turn to ECB policy decision today and US CPI tomorrow. Euro is trading mixed for the moment, except versus Yen and Swiss Franc. To be specific, it’s range bound against Dollar, Sterling, Aussie and Canadian.
San Francisco Federal Reserve President Mary Daly said Wednesday she backs raising interest rates aggressively until inflation comes down to a reasonable level. Those moves likely would entail multiple 50 basis point hikes at coming meetings, then a possible rest to see how the central bank policy tightening is combining with other factors to impact
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What you need to take care of on Thursday, June 9: Trading was choppy across the FX board, with most major pairs holding on to familiar levels, except for the USD/JPY pair, which surged to a fresh 20-year high of 134.47. The imbalance between the US Federal Reserve and the Bank of Japan boosted the
NZDUSD move back toward 38.2% retracement level The NZDUSD moved lower in the Asian session after rising up to a swing area between and 0.6490 and 0.6499 before the close yesterday (see red numbered circles and yellow area). The high price reached 0.6494. The subsequent move to the downside saw the price extend toward the
The major US indices are all closing lower on the day. The declines are led by the S&P index which is closing down over 1%. The Dow industrial average is down around -0.8%. Intel is the worst performer in the Dow after a report that they may miss on 2Q earnings. Intel shares a down
Brent Crude has continued to surge with a huge spike seen during February-March 2022, mainly led by the Russia-Ukraine conflict. Since then, Brent Crude has broadly been consolidating between $116-95. On the monthly timeframe, we have observed Fibonacci Extension from the October 2018 peak to the March 2020 lows. Critical resistance for the commodity is
The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in anticipation on a hawkish ECB policy decision and press conference tomorrow. The central should without
Most of the U.S. has been seeing just “slight or modest” economic growth over the past two months or so, according to a Federal Reserve report released Wednesday. While all 12 Fed districts reported continued growth, the central bank’s periodic “Beige Book” indicated that four of the regions showed “that the pace of growth had
A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse said on Wednesday that it is likely to post a loss for the second quarter as the war in Ukraine and monetary policy tightening
In recent months, Russian legislators have been preparing measures to fully institutionalize crypto as a properly taxable investment asset and a possible tool for foreign trade in Russia. Now, they want to make clear that the upcoming regulatory turn won’t include any windows for adopting digital financial products as a payment method. On Tuesday, June
The Bank of Japan (BOJ) will consider downgrading its assessment on factory output at the June policy meeting due to supply disruptions caused by China’s covid lockdowns, Reuters reports, citing sources with the central bank’s thinking. The BOJ is expected to maintain the view that Japan’s economy is picking up as a trend, noting that
USDCHF back below the 38.2% retracement The USDCHF moved higher into the US session and in the process moved above the 38.2% of the last trend move lower that saw the pair moved from 1.0063 to 0.95442 (on May 27). Since that bottom, the price consolidated in a narrow range between 0.9544 and 0.9669 and
Eurostoxx +0.3% Germany DAX +0.3% UK FTSE +0.2% France CAC 40 +0.3% Spain IBEX +0.3% In essence, European indices are playing a bit of catch up to the late turnaround in US stocks yesterday. The overall tone in the equities space remains more sluggish as outlined earlier here. S&P 500 futures are down 0.3%, Nasdaq