Dollar drops broadly after data shows declining headline consumer inflation in the US, and even quicker fall in core CPI. It’s adding to the Fed’s case that prior surge in inflation was just transitory. DOW futures responde rather positively to the news. Strengthening risk appetite could put Yen under some pressure too. Meanwhile, Sterling is
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USD/JPY slides below 110 on the back of dollar weakness. Market sentiment is downbeat, benefiting the safe-haven status of the Japanese yen vs the greenback. On Thursday, the US Jobless Claims and the Retail Sales will be released. After posting a three-day high during the Asian session, the USD/JPY turned around and is trading around
The recent swing lows between 109.5610 9.615 stalls the fall. The USDJPY has seem to find a bottom near the recent bottoms in the 109.56 to 109.615 area. The low price reached 109.587. It will take a move below that swing area (see red numbered circles in yellow area) to open the door for further downside. For now, the support is holding.
Closing changes for the main European bourses: UK FTSE 100 -0.5% German DAX +0.1% French CAC -0.5% Spain IBEX -0.4% Italy MIB +0.3% The FTSE 100 looked like it could sustain the breakout in early in the summer but it has flattened out. It’s back down near the recent low and I can see a
Kolkata: The National Commodity and Derivatives Exchange (NCDEX) has posted 115% rise in the average daily turnover value (ADTV) of Rs 2,444 crore in August 2021 despite restrictions on chana futures, one of its key liquid contracts in the pulses segment, a media release issued by the exchange said. It also added that exchange has
Prices for an array of consumer goods rose less than expected in August in a sign that inflation may be starting to cool, the Labor Department reported Tuesday. The consumer price index, which measures a basket of common products as well as various energy goods, increased 5.3% from a year earlier and 0.3% from July.
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Overall market sentiment is mildly positive with the strong rebound in DOW overnight, followed by slight gain in Nikkei. European majors are having a small edge over the others but Swiss Franc is still clearly lagging behind. Australia Dollar is leading commodity currencies lower for now, after some cautious comments from RBA Governor. Dollar is
GBP/JPY gained strong positive traction on Tuesday and shot to over one month tops. A modest USD pullback extended some support to the GBP and remained supportive. The risk-on mood undermined the safe-haven JPY and provided an additional boost. A sudden pickup in demand for the British pound pushed the GBP/JPY cross to over one-month
The New York Attorney General (NYAG) has won a victory against crypto exchange Coinseed for its dodgy dealings with Dogecoin and defrauding its customers. On Sept. 13 NYAG Letitia James ordered Coinseed Inc. to permanently halt operations and pay $3 million in fines after it had been accused of freezing withdrawals and converting client funds
Dow Jones leads the way led by energy and financials The Dow and S&P snapped a five day decline. The NASDAQ was not so lucky falling for the fourth consecutive day. However, late day buying did push the major indices higher into the close. The NASDAQ closed well off it’s low level. The S&P was
Latest data released by METI – 14 September 2021 Industrial production +11.6% vs +11.6% y/y prelim Slight delay in the release by the source. The preliminary report can be found here. No change to the initial estimates as industrial output softened in July, though the survey on businesses indicates that production should pick up again
Gold prices edged lower on Tuesday as a stronger dollar crimped bullion’s appeal ahead of US inflation data that could offer cues on the possible timeline for the Federal Reserve‘s tapering. FUNDAMENTALSSpot gold fell 0.2% to $1,790.74 per ounce by 0138 GMT. US gold futures eased 0.1% to $1,792.10. The dollar index was steady after
In this article ORCL Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19. Justin Sullivan | Getty Images Oracle
Commodity currencies came back to live entering into US session, with help from broad based rally in European indexes and US futures. Canadian Dollar is also lifted as WTI oil price recaptures 70 handle. Dollar turned mixed for now as selling turns to Swiss Franc, Euro and Yen. With an empty economic calendar for the
Oil marches higher on concerns in the Gulf and production hampered by storms. OPEC cut its world oil demand forecast for the last quarter of 2021. WTI is over 1.15% higher by the cling bell on Wall Street. The price of oil moved from a low of $69.54 to a high of $70.94 so far. US output
Bitcoin’s (BTC) failure to make a strong recovery in the past few days has resulted in profit-booking in most major altcoins, threatening to pull the total crypto market capitalization back below $2 trillion. The U.S. equity markets witnessed profit-booking and the S&P 500 dropped by 1.69% last week, suggesting the development of a risk-off sentiment.