FX Strategists at UOB Group noted a break above 1.1970 in EUR/USD would be indicative that the negative phase has ended. Key Quotes 24-hour view: “We highlighted yesterday that ‘downward pressure has dissipated, and the current movement is deemed as part of a consolidation phase’ and we expected EUR to ‘trade within a 1.1875/1.1935 range’.
Intercontinental Exchange subsidiary Bakkt has introduced a debit card allowing customers to use crypto for retail purchases. In a Tuesday announcement, Bakkt said it had launched a fully virtual Visa debit card for both online and in-store spending. Card holders can spend Bitcoin (BTC) from their Bakkt accounts without waiting to convert the cryptocurrency to
A look at the AUD/USD daily chart Perhaps the scariest chart coming into this week was AUD/USD. On Friday it broke through the lows of the year and the 200-day moving average in what looked like it could be a major breakdown. Yet a few days later and the breakdown is still up for debate.
Italy’s FTSE MIB lower. Spain’s ibex unchanged The major European indices are closing the session mixed. The Italy’s FTSE MIB is lower. Spain’s Ibex is unchanged. Germany, France, UK are higher. The provisional closes are showing: German DAX, +0.3% France’s CAC, +0.3% UK’s FTSE 100, +0.5% Italy’s FTSE MIB, -0.2% Spain’s Ibex, unchanged In the European debt market, the benchmark
NEW DELHI: Gold in the national capital on Tuesday gained Rs 45 to Rs 46,213 per 10 gram, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,168 per 10 gram. Silver declined marginally by Rs 86 to Rs 66,389 per kilogram from Rs 66,475 per kilogram in the
Trading in the forex markets is rather subdued today, as in other financial markets. Dollar continues to consolidate recent rise while European stocks and US futures are treading water. Focus turns to Fed Chair Jerome Powell’s testimony for fresh inspirations. . Sterling bulls hesitated in early part of European session, but quickly regained grounds. The
Sales of existing homes dropped for the fourth straight month due to a very low supply of homes on the market. Existing home sales fell 0.9% in May from the previous month to a seasonally adjusted annualized rate of 5.8 million units, according to the National Association of Realtors. That is the fourth straight month
Analysts at MUFG Bank, expect the USD/JPY pair to trade in the 107.00/114.00 range over the next weeks. They point out the actions of the Federal Reserve matter most given the limited scope for any meaningful change in the monetary policy stance of the Bank of Japan. Key Quotes: “While we remain sceptical of the
United States investment management firm VanEck has filed for a new Bitcoin (BTC) futures mutual fund with the Securities and Exchange Commission. According to a prospectus filed Monday, the new “Bitcoin Strategy Fund” will invest in Bitcoin futures contracts as well as pooled investment vehicles and exchange-traded products that provide exposure to Bitcoin. The fund
AU10y-NZ10y The Aussie 10 year and New Zealand 10 year spread has dived lower again. This is in keeping with the divergent outlook between the RBA and the RBNZ. A puzzle over the last two weeks has been NZD weakness despite a more hawkish tilt from the RBNZ. This has made the AUDNZD a pain
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Dow up nearly 600 points as Fed concerns ease a bit. All the major indices are closing higher on the day led by the Dow industrial average which rallied near 600 points. Stocks were supported by less hawkish than expected comments from Feds Bullard and Kaplan. S&P rises for the first time five trading days S&P
TOKYO: Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in demand in the US and European markets and fading expectations for an early return of Iranian crude. Brent crude futures for August eased 10 cents, or 0.1%, to $74.80 a
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USD/INR steps back from intraday top after two-day downtrend. Mildly upbeat sentiment weighs on USD ahead of Powell’s testimony. US-China jitters, covid updates and second-tier data add filters to the moves. USD/INR defends the 74.00 threshold, snapping a two-day pullback from late-April top amid the initial Indian trading session on Tuesday. That said, the Indian
…GOP wants to fund infrastructure bill by raising gasoline taxes and taxing electric vehicles The White House is out saying that present Biden wants to grow the electrical vehicle industry. That is why he opposes a related tax proposed by the GOP to pay for infrastructure. The GOP also supports raising gasoline tax whereas Pres. Biden said that taxing the low-wage