EURUSD keeps the seller in firm control The EURUSD is looking to go into the weekend with the bearish bias intact. Looking at the four hour chart above, the pair fell below the low from 2021 (from November) during yesterday’s trade at 1.11853. The corrective move off of the low today at 11207 could only
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Mumbai: Global gold demand rose 10 per cent to 4,021.3 tonnes in 2021 on account of a massive 50 per cent surge in year-on-year demand — a 10-quarter high — during the December quarter, a report by the World Gold Council (WGC) said. The overall gold demand during 2020, which was impacted following Covid-19 related
A gauge the Federal Reserve prefers to measure inflation rose 4.9% from a year ago, the biggest gain going back to September 1983, the Commerce Department reported Friday. The core personal consumption expenditures price index excluding food and energy was slightly more than the 4.8% Dow Jones estimate and ahead of the 4.7% pace in
Journalists are reflected in the sunglasses of drilling site manager Greg Murphy during a media day at Chevron’s site in Pungesti, Romania, April 8, 2014. Bogdan Cristel | Reuters Chevron shares declined Friday after the company reported a mixed quarter, despite surging oil and gas prices. Chevron earned $2.56 per share excluding items during the
In a Tweet posted by user @cryptotutor Friday, a screenshot appears to show a 27% spread between stablecoin Magic Internet Money (MIM) and USD Coin (USDC) trading pair on decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical peg of 1:1 against the U.S. Dollar. “Magic Internet Money,” joked cryptotutor, as he attempted to
EUR/JPY was flat on Friday despite a heavy Eurozone data slate amid a calm end to the week. Focus now turns to next week’s ECB policy decision and flash Eurozone CPI data. Despite a heavy slate of Eurozone data out during the European morning, it has been a rather tame trading day for EUR/JPY, with
I wrote yesterday that while the squeeze into contract settlement in natural gas was on low volume, it was the kind of thing that can change the psychology of the market. Compound that with cold weather, a US court canceling a drilling auction and Ukraine worries and there is a sudden bid in natural gas.
Dollar retreats mildly today after PCE inflation data posted no surprises. While there is some profit taking, the greenback remains the strongest one for the week by some distance. Selling focus has turned from Euro to commodity currencies today, as lead by Aussie. The overall close would still depend on development in risk sentiment, which
The post-Fed sentiment was the catalyst for the latest leg higher in the dollar this week. Powell & co. offered a more hawkish tilt and that was enough to see markets scramble to price in five rate hikes by the Fed this year. In turn, the dollar has surged higher as yields also climbed –
New Delhi: Gold price in the national capital declined by Rs 423 to Rs 47,777 per 10 grams on Friday amid weak international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 48,200 per 10 grams. Silver also dipped by Rs 1,105 to Rs
A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago. Prices rose 18.8% year over year on the S&P CoreLogic Case-Shiller National Home Price Index. Yet that was
Michael Cannon-Brookes, co-CEO, Atlassian Scott Mlyn | CNBC Atlassian shares rose as much as 10% in extended trading on Thursday after the provider of collaboration software reported fiscal second-quarter earnings that topped estimates and raised its forecast for subscription revenue. Here’s how the company did: Earnings: 50 cents per share, adjusted, vs. 39 cents as
CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by around 5.8K contracts on Thursday following three daily drops in a row. Volume followed suit and dropped for the second straight session, now by around 133.8K. WTI could attempt some consolidation ahead of $90.00 Crude oil prices
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Washington Post: A federal judge on Thursday invalidated the largest offshore oil and gas lease sale in the nation’s history, ruling that the Biden administration violated federal law by relying on a seriously flawed analysis of the climate change impact of drilling in the Gulf of Mexico. The decision impacts 1.7 million acres of oil
Investor sentiment was basically destroyed by more hawkish than expected Fed Chair Jerome Powell. US stocks reversed earlier gains and closed mixed. But futures are already pointing to a gap down open today. Major Asia indexes are trading in deep red. Markets are now expecting as many as five rate hikes this year starting March.