Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil. This week, we saw crude oil prices jump by almost around 10% from Monday’s low in both international as well as
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While RBA, Fed and BoE announced rate hikes last week, the impacts and reactions were rather delivered. RBA’s larger than expected hike was well received and helped Aussie secured the first place, even though it pared back much gains on risk-aversion. On the other hand, BoE’s announcement was considered dovish, with warning of recession, and
In this article LCID CEO Peter Rawlinson poses at the Lucid Motors plant in Casa Grande, Arizona, U.S. September 28, 2021. Caitlin O’Hara | Reuters Electric luxury vehicle maker Lucid Group said Thursday it now has more than 30,000 reservations for its Air sedan — but any customers making reservations after June 1 will have
The US economy created 428.000 jobs for the second month in a row, near market expectations. According to analysts at Wells Fargo, the report is solid and reinforces their belief that the Federal Reserve will execute another 50 bps interest rate hike at its next meeting on June 14-15. Key Quotes: “Nonfarm payroll growth barreled
The US 10 year yield is approaching 2018 peak The US 10 year yield is trading just off the high for the day and week at 3.134%. The current yield is at 3.126%. Looking at the weekly chart, the yield is at the highest level since November 2018. The high yield in 2018 reached 3.248%.
Markets: Gold up $7 to $1883 WTI crude up $2.34 to $110.60 US 10-year yields up 5 bps to 3.12% EUR leads, CAD lags S&P 500 down 23 points to 4123 — first streak of 5 weekly losses since 2011 The non-farm payrolls report was right down the fairway. Jobs were a bit high but
NEW DELHI: Gold prices bucked global trends and were trading higher in the Indian market. However, the yellow metal was set for another weekly loss, third in a row. In the global markets, firm US dollar and Treasury yields rallied on a hawkish US Federal Reserve stance, with investors awaiting jobs data due later in
Dollar is back in control as markets turned back into risk-off mode, just a day after the rallies triggered by Fed Chair Jerome Powell’s comments. Investors are apparently not too convinced by the ruling out of 75bps hike after a second thought. Focuses will turn to non-farm payroll report today, which should prompt even more
In this article DASH Tony Xu, co-founder and chief executive officer of DoorDash Inc. David Paul Morris | Bloomberg | Getty Images DoorDash stock rose over 10% in extended trading after the company reported 35% revenue growth in the first quarter, suggesting that the company’s core business of delivering takeout food can still grow even
The GBP/USD will finish the week with hefty losses of 1.74%. Positive US employment figures and BoE’s speaking keeps the GBP downward pressured. GBP/USD Price Forecast: To remain downward biased unless GBP bulls reclaim 1.2600. The British pound appears to regain composture but remains losing in the day, down 0.06%, after the Bank of England
Looking for a Forex strategy that is simple and easy to follow? Look no further. In this video, Andrew Lockwood is going to share with you a Forex strategy that he teaches on a daily basis to traders in the trading room and has been profitable for him in the past. He’s going to show
A survey conducted by the Bank for International Settlements, or BIS, suggested that many central banks around the world are looking into rolling out a central bank digital currency, or CBDC. In a paper released on Friday, the BIS Monetary and Economic Department said 90% of 81 central banks surveyed from October to December 2021
GBPUSD but closer to the June 2020 lows The GBPUSD continued its move lower today. The price traded to the lowest level since June 2020 with a new low of 1.2277. That got close to the June 29/June 30 lows between 1.2250 and 1.2256, but early buyers against that next key support target have pushed
If Powell telling you that 75 bps on the table isn’t enough to dissuade you from selling bonds, then a 0.1 dip in monthly average hourly earnings versus consensus is unlikely to change anyone’s mind. US 2-year yields fell to 2.70% from 2.74% on the non-farm payrolls headlines but they’re already back to pre-NFP levels.
Just as they have every month since this past summer, officials from OPEC and its allies met via teleconference Thursday and decided to continue their program of modest additions to the market. The producers group, which has 23 members including Saudi Arabia and Russia, issued a statement saying it would add 432,000 barrels a day
Dollar turns slightly softer in early US session even though non-farm payroll report came in slightly better than expected. Yen is also weak on rising benchmark global yields. On the other hand, Euro jumps broadly as supported by hawkish comments from ECB officials. As for the week, Aussie and Euro are now the strongest ones
In this article UAA The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Under Armour sees a tough year ahead, roiled by global supply chain challenges and another round of Covid lockdowns in China that are putting a dent in demand. The sneaker
European Central Bank Executive Board Member Frank Elderson said on Friday that the ECB must ensure that high inflation doesn’t become entrenched in people’s expectations, reported Reuters. Weaker economic data so far doesn’t suggest that the Eurozone is entering a recession, he added. Elderson’s remarks come after a series of hawkish remarks from other ECB