FX

NYSE:GME fell by 6.39% during Thursday’s trading session. GameStop Chairman Ryan Cohen sold his 10% stake in Bed Bath and Beyond. This meme stock rally could be coming to an abrupt conclusion. NYSE:GME sank further on Thursday as the latest meme stock rally took an interesting turn of events after an ominous SEC filing. Shares

“Chinese banks will likely trim their benchmark loan prime rates Monday for the first time in months to help spur borrowing demand and reverse a sharp slump in consumer and business sentiment,” per Bloomberg’s latest survey published on late Thursday. Key findings The one-year loan prime rate — the de facto benchmark lending rate for

Stocks tend to outperform after midterm elections. Will the trend hold? Liz Ann Sonders, Schwab’s Chief Investment Strategist, gives her point of view. Will midterms affect market performance? “Post-election outperformance is often driven by the market’s expectation of increased government spending from a new Congress. But an additional infusion of funds seems unlikely this year,

“(We are) At low end globally of inflation level, tracking in the right direction,” said Reserve Bank of New Zealand Governor Adrian Orr to New Zealand (NZ) Parliament’s Finance and Expenditure Select Committee. Additional comments Labor constraint key reason to “consciously” slow demand to match supply capacity. There is and will be financial stress in

FuboTV held an investor day on Tuesday. Management said it would achieve profitability by 2025. CFO said company only requires $100 million to achieve profitability. FuboTV (FUBO) may be the latest meme stock. After advancing 45% on Tuesday, shares are up another 4.1% in Wednesday’s premarket to $6.61. The sports live streaming platform has been

USD/CAD bears seek a break of the 4H 61.8% ratio to the downside. Bulls eye an extension towards 1.3000. As per the prior analysis, USD/CAD Price Analysis: Bulls could be about to clean up, and USD/CAD Price Analysis: Bulls seeking a break of 1.2790/00, whereby it stated that ”a resurgence in the greenback would be expected to see USD/CAD rally in

Gold witnesses selling for the second straight day on Tuesday amid modest USD strength. Hawkish Fed expectations and elevated US bond yields continue to underpin the greenback. Recession fears could limit losses for the safe-haven XAU/USD ahead of the FOMC minutes. Gold attracts fresh selling near the $1,783 region on Tuesday and turns lower for

Tilray stock aded 6.45% on Monday to settle at $4.29.  SNDL settled at $3.17, up by 5.67% at the beginning of the week. Sundial released Q2 earnings that showed a large jump in revenue. Update: Wall Street started the week on a positive footing, shrugging off early market fears. Risk-off dominated the first half of

Gold Price erases Friday’s rebound to test the crtiical 50 DMA at $1,782. China-led risk-aversion inspires the US dollar rally while yields recover. Focus shifts to US Retail Sales and Fed minutes for the next big move in XAU/USD. Gold Price is tumbling towards the $1,780 level in European trading, having struggled around $1,800 earlier in

USD/CAD is set to finish the week with losses of 1.22%. The University of Michigan Consumer Sentiment for August surprises the upside and boosts the greenback. US Fed officials are still committed to tackle inflation and reiterated their job is not done. USD/CAD advances on Friday, erasing Thursday’s losses, after a positive US consumer sentiment

Based on a softer US inflation report, USD/JPY climbs during the week by 1.14%, after a volatile last three days. USD/JPY is neutral biased, but a doji emerging in the daily chart could pave the way for further upside. In the near term, the major is sideways, though oscillators point upwards, so it is slightly

Analysts at MUFG Bank, have the idea of a shorting the EUR/USD pair around 1.0290 with a target at 0.9900 and a stop-loss at 1.0540. They consider that European circumstances create uncertainty for the euro and market participants could start pricing in more tightening from the Federal Reserve.  Key Quotes: “We are sceptical of the

CSSE stock tanked 10.4% in Friday’s premarket. Chicken Soup for the Soul reported a wide GAAP loss of $-1.39 in Q2. CSSE just concluded its acquisition of Redbox on Thursday. UPDATE: Chicken Soup for the Soul stock is down 12.4% to $12.42 in the first hour of Friday’s session. This is actually worse than the premarket where

The index manages to leave behind part of the recent drop. US yields come under some mild downside pressure. Preliminary Consumer Sentiment next on tap in the docket. The greenback attempts a tepid rebound and revisits the low-105.00s when tracked by the US Dollar Index (DXY) at the end of the week. US Dollar Index

Silver price is dropping close to 1.50% on Thursday. July’s US CPI and PPI inflation reports show signs of topping; however, Fed officials remained hawkish. Traders’ focus shifts toward the University of Michigan Consumer Sentiment and Inflation Expectations. Silver price drops moderately as market sentiment remains upbeat following the release of the US inflation data

EUR/USD climbed to its highest level in a month at 1.0368 on Wednesday. Economists at ING expect the 1.0350/1.0400 area to be the top of the pair’s trading this month.  Don’t chase the EUR/USD rally “We would favour 1.0350/0400 proving the top of the August trading range for EUR/USD.” “In addition to the Russian threat

Gold is back under pressure following a relief rally to the weekly 61.8% Fibo. Bulls will be seeking space above $1,800 but the Fed is still a long way off from its target despite today’s CPI miss of expectations.  At $1,791.43, gold is around 0.17% higher on the day. It has rallied from a low of

EUR/USD steadies near 1.0220. In the view of economists at ING, the pair does not show signs to buy it. Too many challenges “EUR/USD continues to languish near the lows and there does not seem a compelling case to buy it. Medium valuation considerations do not show it as particularly undervalued. And the larger geopolitical