USD/INR takes offers to refresh weekly low during two-day downtrend. 100-SMA, five-week-old resistance line guards immediate upside. Descending RSI line, not oversold, adds to the bearish bias. 200-SMA adds to the upside filters, multiple tops of September strengthen 73.85 support. USD/INR stands on slippery grounds towards 74.00, down 0.15% intraday to form weekly bottom around
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Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will “have to act” on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI. Dollar is still among the strongest for the week, but it’s apparently taking a breather
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Price moves above swing area The USDCAD has stretched to a new high and in the process has moved above the 1.25915 to 1.26038 swing area (see red numbered circles on the 4-hour chart), and the 50% of the move down from the 2021 high at 1.26177. The high reached 1.2622. The current price is
Originally said it would be made before the weekend Pres. Biden has changed the plan for his nomination of Fed chair to before Thanksgiving from before the weekend. There was some skepticism of the Friday announcement date. It seems he’s given himself the weekend to think more about it. The debate is whether he re-nominates
New Delhi: Gold in the national capital on Wednesday declined by Rs 402 to Rs 48,116 per 10 gram, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,518 per 10 gram. Silver also dipped Rs 528 to Rs 65,218 per kilogram from Rs 65,746 per kilogram in the
Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images Rising mortgage interest rates continue to take their toll on demand, especially in the refinance market. Total mortgage application volume fell 2.8% last week compared with the previous week, according to the Mortgage
In this article LOW A customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Lowe’s beat analysts’ expectations for fiscal third-quarter earnings on Wednesday, as the company got a bump in business from home professionals and
WTI has turned lower in recent trade, breaking out to fresh daily lows despite a bullish inventory report. The report has perhaps been interpreted as increasing the likelihood that the Biden administration taps the SPR. Front-month futures of the American benchmark for sweet light crude oil, West Texas Intermediary or WTI, have traded on the
Major crypto exchange Binance took a compliance-friendly approach to its business after years of cat-and-mouse game with regulators around the world and it worked surprisingly well in terms of user retention, according to a new interview with Binance CEO Changpeng Zhao. Speaking to Bloomberg News, CZ noted that Binance made Know Your Customer (KYC) processes mandatory
Dollar’s rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed ahead of Canada CPI. Much volatility is likely in the day ahead. In other markets,
EUR/USD erases most of its earlier decline from 1.1265 to 1.1315 now The push back above 1.1300 is alleviating some of the pain on buyers but the downside pressure is still largely intact as we look towards European trading today. The low hit 1.1265 but there seems to be a bit of a relief at
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NEW YORK: Whether fuel pump prices fall in 2022 depends on two groups of producers who are struggling to increase oil output in the wake of the pandemic: OPEC and its allies and U.S. shale firms. The global oil industry’s slow response to the surging demand in 2021 has contributed to soaring energy costs and
U.S. shoppers accelerated their level of spending in October even as the prices of goods jumped at their fastest pace since the 1990s, the Commerce Department reported Tuesday. Retail sales, a measure of how much consumers spent on goods ranging across categories from autos to sporting goods and food and gas, increased 1.7% for October,
In this article LOW HD A customer partially wearing a mask at a store in Reston, Virginia, on Thursday, May 21, 2020. Andrew Harrer | Bloomberg via Getty Images Home Depot on Tuesday reported quarterly earnings and revenue that beat analysts’ revenue as customers spent more on home improvement projects. Shares of the company rose
AUD/USD extends losses to renews multi-day low, ignores oversold RSI conditions. Bearish MACD, sustained trading below 61.8% Fibonacci retracement level directs sellers to two-month-old horizontal support. AUD/USD remains on the back foot for the second consecutive day, refreshing monthly low to 0.7262 heading into Wednesday’s European session. In doing so the Aussie pair extends pullback
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest some losses but stays weak on dovish ECB expectations. On the other hand, commodity currencies