Overall, the forex markets are rather quiet as the week is heading to a close. EUR/USD is still holding above 2017 low but lacks any strength for a recovery. The greenback might still have a last push during the rest of the session. Meanwhile, Gold is a major mover today, and it’s now pressing 1800
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People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Worker productivity fell to start 2022 at its fastest pace in nearly 75 years while labor costs soared as the U.S. struggled with surging Covid cases, the Bureau of Labor Statistics reported Thursday. Nonfarm productivity, a
In this article SOFI Pedestrians walk by the SoFi Technologies headquarters on February 22, 2022 in San Francisco, California. Justin Sullivan | Getty Images Shares of SoFi fell sharply on Tuesday and were halted after the company accidentally released its first-quarter results early. The company said the report, which was scheduled for after market close
“In times like now when uncertainty is high, central banks must conduct monetary policy by examining various data broadly without any preset idea,” said Bank of Japan (BOJ) Governor Haruhiko Kuroda during early Friday in Asia. Also read: BOJ’s Kuroda: The central bank must continue monetary easing to achieve its price target Additional quotes Japan’s economy
AUDUSD trades to targeted swing area support The AUDUSD tumbled lower today and in the process has moved down toward a key swing area between 0.6809 and 0.6832 (see red numbered circles on the daily chart above). The low for the day reached 0.6824 before bouncing. Risk focused traders have put a toe in the
> Japan finance minister Suzuki still going – weak yen good for exporters, not importers Suzuki says the weak yen is a boost for exports but leads to higher prices for importers. D’uh. Japan finance minister Suzuki earlier today: More from him now: FX stability is important, recent rapid moves are undesirable weak yen is
Gold prices on Friday were held near a three-month low as the strongest dollar in two decades continued to sap demand for greenback-priced bullion, setting up what could be the metal’s fourth consecutive weekly fall. FUNDAMENTALS * Spot gold was down 0.1% at $1,820.54 per ounce, as of 0054 GMT, having dropped to its lowest
With the help from risk aversion and extended pull back in benchmark global treasury yields, Yen’s rebound is making some progress. US 10-year yield is back below 2.9% handle in Asian session while Germany 10-year bund yield also broke 1% yesterday. Euro and Dollar are still relatively firm on risk-off sentiment. On the other hand,
Lumber at the site of a house under construction in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, U.S., on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Bank regulators on Thursday proposed the first sweeping changes in more than 25 years to a controversial law
In this article BYND Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as the launch of its new plant-based jerky weighed heavily
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The Federal Ministry of Finance (BaFin) published a 24-page document on Tuesday outlining clear income tax rules for cryptocurrency and virtual assets. Tax practitioners, businesses and individual taxpayers now have clear direction on the tax requirements for acquiring, trading and selling cryptocurrencies. The key takeaway is that individuals who sell BTC or ETH more than 12
US dollar pulls back as Wall Street turns positive. Tensions across financial markets remain on the table. NZD/USD rebounds modestly, bearish bias persists. The NZD/USD bottomed during the American session at 0.6222, the lowest level since June 2020 and then rebounded modestly to 0.6266, trimming losses. The dollar moved off high across the board but
NASDAQ index is trading back in the black The major indices have erased their earlier declines on the day and are trading in positive territory. Dow industrial average is near unchanged at 31833 S&P index is also near unchanged at 3936.15 NASDAQ index is currently trading up 54 points or 0.49% at 11420 Russell 2000
USD/JPY has been a one-way freight train since early March. The pair has gained for nine-straight weeks and hit 131.34 this week — the highest since 2002. Today and yesterday though, there’s been a bit of reversal. The pair is down 180 pips today to 128.19. That’s come with a retracement in US yields and
NEW DELHI: Gold prices gained mildly on Thursday as the yellow metal cheered the fall in US treasury yields after US consumer price data suggested inflation might have peaked in April. A weaker dollar makes gold attractive for overseas buyers, while lower Treasury yields reduce the opportunity cost of holding zero-yield bullion. Gold futures on
Yen is the runaway winner today on massive safe-haven flows, which also pushed up treasury bonds. Meltdown in cryptocurrencies intensified further, as bitcoin barely holds on to 25k. Major European indexes are in deep red while US futures, in particular NASDAQ, are pointing to lower open. Benchmark treasury yields extend pull back, as US 10-year