The lead in to the Asia session: Ahead of the Bank of Japan policy statement we saw some moves for major FX but most of them were round trips. EUR/USD, for example, moved back towards it overnight high, but fell a little short of 1.1120 before retracing back to circa 1.1090 and then below. It
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MELBOURNE: Oil prices extended their rally on Friday at the end of a third volatile week of trade as there was slim progress in peace talks between Russia and Ukraine, raising the spectre of tighter sanctions and a prolonged disruption to oil supply. A speech by Russian President Vladimir Putin on Thursday warning “traitors and
Yen remains the weakest one for the week, following the extended rebound in US stocks overnight, and persistent strength in treasury yields. Swiss Franc and Dollar are also soft as distant second and third. Meanwhile, Euro is currently the best week performer, followed by Aussie and then Kiwi. Sterling’s rally attempt was capped by the
In this article GME A mall visitor walks be a GameStop store on December 08, 2021 in San Rafael, California. Justin Sullivan | Getty Images GameStop shares on Thursday fell more than 8% in extended trading, after the video game retailer reported an unexpected loss during the holiday quarter. The video game retailer did not
Any USD/JPY dip in response to USD weakness has been very shallow. Economists at OCBC Bank expect the pair to grind higher to test the 120 mark in the coming sessions. Topside extension “With the pair looking to consolidate between 118.50 and 119.00, the next multi-session target may well be the 120.00 psychological level.” Note
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EURGBP breaks to a new week high but fails The EURGBP fell lower ahead of the Bank of England decision, but after falling to its 200 hour moving average, the pair quickly reversed higher help by the more hesitant tightening from the central bank. The sharp move to the upside took the price back above
Signs are emerging of a fresh rise in covid cases in much of the world. I don’t think that’s a big problem for markets, even if it further dampens growth in the months ahead. The big exception remains China, which helped to roil markets at the start of the week by reporting a big jump
The Federal Reserve‘s potential softening of the stance on tightening and macroeconomic uncertainty bodes well for gold, feel experts, although they add given some easing off geopolitical tensions the outlook remains uncertain. The Fed on Wednesday hiked its key interest rate by 25 basis points, a move that was largely priced in given the elevated
Sterling dips notably after the dovish rate hike by BoE. Yen is following as second worst for the day, then Dollar. On the other hand, Aussie is leading other commodity currencies higher, support by strong job data. Euro is mixed with Swiss Franc, closely watching developments in Ukraine. In other markets, Gold is attempting a
In this article WRBY A customer tries on glasses at a Warby Parker store in Los Angeles. Michael Buckner | Getty Images Warby Parker shares sunk in premarket trading Thursday after the eyewear retailer reported continued losses and said its sales were hurt during the holiday quarter due to the omicron variant of Covid-19, which
What you need to take care of on Friday, March 18: The American Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The greenback was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday. By the end of the American session,
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Despite the fall of nonfungible token (NFT) prices, play-to-earn NFT gaming carries on as more people see it as a potential way to make a living. In a survey conducted in the Philippines, 32 percent of the respondents said they would quit or consider quitting if NFT games allowed them to go full-time. John Stefanidis,
The major US stock indices are moving back to the upside with the NASDAQ index back near up 2.0%. The Dow and S&P are also well off session lows. Are markets applauding the more hawkish of Fed? The reactions are just that reactions. There is a full story ahead which also includes Russia/Ukraine and its
The turnaround since yesterday has been rather remarkable as hopes for stimulus is buoying sentiment in Chinese markets over the past two days. Yes, the “plunge protection team” may be in play too but it is quite the rebound when you look at the charts: The CSI 300 index is looking to hang on at
MUMBAI – India’s annual gold production could surge to 20 tonnes from a mere 1.6 tonnes if the government removes bureaucratic hurdles and encourages investment in the sector, the World Gold Council (WGC) said in a report published on Thursday. The South Asian country is the world’s second-biggest consumer of the metal and fulfils most