The AUDUSD fell to – and through the 38.2% retracement of the move up from the August low at 0.67146 late yesterday, but bounced higher in the Asian session today. The high price in the Asian session extended up to 0.67417 which was just short of the low of a swing area 0.67429. The subsequent
Info via Reuters – IKEA calls for more China stimulus as sales slip IKEA urges China to deploy further economic stimulus China accounted for 3.5% of Ingka Group’s global sales, down from 3.6% IKEA opened new Shanghai store in September, now has 39 stores in China Price cuts helped boost sales China unveiled aggressive monetary
Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 39 cents, or 0.5%, to $79.01 a barrel
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner Tom Brenner | Reuters Falling interest rates are usually good news for banks,
Sticky US CPI data and hawkish comments from Fed officials lent extra support to the Greenback on Thursday prior to the release of further inflation metrics at the end of the week. Here is what you need to know on Friday, October 11: The US Dollar Index (DXY) rose past the 103.00 barrier to reach
Dollar is struggling to find a clear direction after a set of contrasting economic data sent mixed signals to the markets. On one side, inflationary pressures remain elevated, especially with core inflation ticking up, signals that Fed won’t be able to accelerate its policy easing. On the other hand, the unexpectedly sharp rise in initial
The US CPI data today was higher than expected with the headline up 0.2% versus 0.1% expected and the core of 0.3% versus 0.2% expected. That increase the year on year measures as well with the core up 3.3% YoY. Not good. On the other hand is that initial jobless claims equal that’s highest level
It’s feast or famine for the Canadian dollar. It’s on a seven-day losing streak at the moment, running to 1.3750 from 1.3480 in that time. Incredibly, the seven-day losing streak is only the worst since July, when it sold for nine straight days, though the magnitude of this move is larger. If you look over
Oil prices rose in early Asian trade on Thursday on concerns about potential supply disruptions in the Middle East, with Israel planning to strike oil-producer Iran, and on spikes in fuel demand as a major storm barreled into Florida. Brent crude futures rose 37 cents, or 0.5%, to $76.95 a barrel, while the U.S. West
The pace of price increases over the past year took an unexpected step higher in September as policymakers contemplate their next move on interest rates, according to a Labor Department report Thursday. The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased a seasonally adjusted 0.2%
In this article DAL Follow your favorite stocksCREATE FREE ACCOUNT A Delta aircraft at the airline’s hangar in Atlanta Leslie Josephs/CNBC Delta Air Lines expects to grow earnings in the fourth quarter, thanks to resilient travel demand and strong bookings for year-end holidays. The Atlanta-based carrier on Thursday forecast fourth-quarter adjusted earnings of $1.60 to
The Japanese Yen dropped to a two-month low against the USD amid the BoJ rate-hike uncertainty. Some repositioning trade ahead of the US CPI report prompts profit-taking around the USD/JPY pair. Rising bets for a 25 bps Fed rate cut move in November to limit losses for the USD and spot prices. The Japanese Yen
New Zealand Dollar has taken a hit in Asian session after RBNZ delivered a widely expected 50bps rate cut. With excess capacity in the economy, further policy easing is expected, and some economists foresee an additional 50bps rate cut in November. The central bank would continue loosening in the first half of next year, though
Yields in the US have moved higher with the 10-year yield now up 2.8 basis points and the 2-year yield up 3.2 basis points. In addition, the chance of no change in policy in November reached close to 25% today before rotating back down to 20%. It wasn’t long ago that the market was pricing
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Gold December futures contracts at MCX today opened flat at Rs 75,153 per 10 gram, which is down by 0.01% or Rs 8 while silver December futures contracts were trading at Rs 89,085/kg, up by 0.4% or Rs 356. Gold and silver witnessed some profit booking in this week so far as the prices of
The Dow Jones added nearly a full percent on Wednesday, climbing over 350 points. Equities are staging a rebound after the week’s early declines. FOMC Meeting Minutes reiterate need to be ‘data dependent’ moving forward. The Dow Jones Industrial Average (DJIA) rallied another 350 points on Wednesday, extending a bullish turnaround after an early-week decline
Dollar is broadly stronger today, though the momentum behind the move is not particularly robust. Markets are awaiting insights from several Fed officials and the release of September FOMC minutes later in the US session. While Fed’s direction on monetary easing is well understood, the pace of future rate cuts remains uncertain and is unlikely