Dollar rose broadly last week and ended as the strongest one, as markets added bets on a higher Fed terminal rate after re-acceleration in inflation data. Sterling ended as second after strong services data, which also supported Euro, while Canadian was the third after higher than expected inflation reading. Aussie was the worst performer on
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On the day: S&P 500 -1.0% DJIA -1.1% Nasdaq Comp -1.7% Russell 2000 -1.2% Toronto TSX -0.3% On the week: S&P 500 -2.7% — worst since Dec Nasdaq Comp -3.3% — worst since Dec Russell 2000 -3.1% Toronto TSX -1.7% It was a rough one for US stocks but not as bad as it looked
Gold price fell Rs 80 to Rs 55,840 per 10 grams in the national capital on Friday amid weak global trends, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 55,920 per 10 grams. Silver also tumbled Rs 767 to Rs 64,517 per kilogramme. “Spot gold prices in the
Markets are generally staying in consolidation mode in Asian session today. The retreat in Dollar this week is so far shallow, suggesting more upside is in favor. But the next move will still be dependent on overall risk sentiment. As for today, focuses will be on PMIs from Eurozone and UK, as well as Germany
Markets: S&P 500 down 44 points to 3975 US 10-year yields up 6.6 bps to 3.95% WTI crude oil up $1.19 to $76.58 Gold down $11 to $1811 USD leads, JPY lags Friday’s PCE inflation report certainly didn’t cool worries about rising prices as all the main numbers in the report aside from income ran
NEW YORK -Oil prices edged higher in volatile trade on Friday, bolstered by the prospect of lower Russian exports but pressured by rising inventories in the United States and concerns over global economic activity. Brent crude futures were up 54 cents, or 0.7%, at $82.75 a barrel by 11:31 EST (1631 GMT). West Texas Intermediate
Dollar jumps in early US session follow data that showed surprised re-acceleration in PCE inflation, and core. Stocks tumble at open while treasury yields rise. The situation for Fed interest to “stay longer and higher” continues to solidify. Selloff is more concentrated on Yen and commodity currencies while European majors are mixed. Technically, USD/JPY will
In case you missed it, you can check out Ueda’s comments here. And as mentioned at the start of last week, one should not expect Ueda to turn any heads before he officially takes over from Kuroda as BOJ governor this coming April. “The parliament hearings to confirm Ueda on 24 and 27 February are
Oil prices extended gains for a second session on Friday as the prospect of lower exports from Russia offset rising inventories in the United States. Brent crude futures rose 61 cents, or 0.7%, to $82.82 per barrel by 0215 GMT. West Texas Intermediate crude futures (WTI) rose 63 cents, or 0.8%, to $76.02 a barrel.
The forex markets are generally quiet today, with most major pairs and crosses staying inside yesterday’s range for now. Dollar is staying in a pole position for the week, maintaining most of the gains. The greenback will look into today’s PCE inflation data for next move. Euro and Swiss Franc are both on the weaker
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. “EUR View: Bullish I Skew: Bullish EUR should gain from positive global forces, a better-than-expected local
Sam Bankman-Fried and his co-conspirators made more than 300 illegal political donations in the United States, according to a new indictment against the FTX cryptocurrency exchange founder unsealed on Thursday in Manhattan federal court. The donations, totaling tens of millions of dollars, were unlawful because they were attributed to a “straw donor” or made using
Swiss Franc is trading broadly lower today while Yen and Aussie are also turning weaker. The theme for now is interesting will stay higher for longer due to resilience in major economies. Monetary policy in Japan and Swiss will be lagging behind. Dollar is staying generally firm and looks set to extend recent rally. Rising
WSJ Report – China to Shake Up Financial System as Xi Jinping Installs Key Associates _____ Chinese leader Xi Jinping is preparing to shake up the leadership of the country’s financial system, installing key associates to run the central bank and reviving a Communist Party body to tighten political control over financial affairs, according to
Gold prices ticked lower on Thursday after minutes from the Federal Reserve’s latest policy meeting indicated that the U.S. central bank would likely keep interest rates higher for longer to check high inflation. FUNDAMENTALS * Spot gold was down 0.1% at $1,823.69 per ounce, as of 0039 GMT. U.S. gold futures slipped 0.5% to $1,833.10.
Reaction to FOMC minutes overnight was relatively muted with major US indexes closing mixed, while 10-year yield dipped slightly. Dollar, however, is making some progress by breaking to the upside against Euro. But momentum of the greenback is so far rather weak. At the same time, Yen is trying to recover against Europeans and commodity
The Fed and the market may be too early on calling for a slowdown in the economy but that doesn’t mean that one isn’t coming. The recession call may simply be pushed out to 2024 as some segments of the population work down accumulated savings and others work their way towards a debt wall. Along
Gold price rose Rs 90 to Rs 56,350 per 10 gram in the national capital on Wednesday amid gains in prices of the precious metal overseas, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 56,260 per 10 gram. Silver also jumped Rs 113 to Rs 66,083 per kg.