Dollar surges overnight after much hawkish than expected Fed interest rate projections. The case of near term bullish reversal continues to build up and there is prospect of further rally before weekend. Markets are relatively mixed elsewhere though. Australian Dollar is lifted by strong job data while New Zealand Dollar is supported by strong GDP.
People look at a home for sale during an open house on April 16, 2019 in San Francisco, California. Justin Sullivan | Getty Images The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. The move was a
In this article GM Brand new Chevrolet cars are displayed on the sales lot at Stewart Chevrolet on May 14, 2021 in Colma, California. Justin Sullivan | Getty Images General Motors expects the ongoing semiconductor chip shortage and rising inflation to increase its expenses during the second half of the year by up to $3
The Bank of Japan (BOJ) kept its monetary policy settings unchanged following the conclusion of its two-day monetary policy review meeting on Friday. The central bank kept the benchmark policy rate on hold at -10bps while maintaining its pledge to buy J-REITS at an annual pace of up to JPY180 bln. The BOJ, as widely expected, extended a deadline
So much for letting prices run hot The picture in the market is increasingly clear: Trades that benefit from inflation are reversing today in a big way. Commodities down Small caps down Treasury yields down Tech stocks higher Gold down Yen up It’s exactly what you would expect to see on the reflation trade unwinding.
After two successful bounces off the 100 hour MA, the level gives way and the sellers enter The price of crude oil has scooted lower and trades to a new session low of $70.85. The move to the downside, was triggered on the break of the 100 hour MA at $71.58. The price had bounced
NEW DELHI: Domestic gold futures tanked by more than Rs 1,600 on Thursday mirroring losses in global benchmarks, as the dollar and US bond yields surged after the US central bank’s projection of earlier-than-expected rate hikes. The August 5 contract of the yellow metal on MCX fell as much as 3.38 per cent or Rs
Dollar’s post-FOMC strength continues to overwhelm the markets today. Though, Yen is also catching up as US futures point to a weak open. Selling in commodity Yen crosses is also helping the Japanese currency. Swiss Franc is currently the worst performing, as SNB sounded it’s fully in inertia despite better growth and inflation outlook. Kiwi
Initial jobless unexpectedly rose last week despite an ongoing recovery in the U.S. employment market, the Labor Department reported Thursday. First-time filings for unemployment insurance for the week ended June 12 totaled 412,000, compared to the previous week’s 375,000. That was the highest number since May 15. Economists surveyed by Dow Jones had been expecting
In this article F Ford CEO Jim Farley at the company’s new Rouge Electric Vehicle Center on May 18, 2021 ahead of remarks from President Joe Biden. Michael Wayland / CNBC DETROIT – Ford Motor on Thursday said its adjusted pretax earnings for the second quarter will “surpass its expectations” and be significantly better than
Loonie under pressure amid lower crude oil and a decline in Wall Street. US Dollar’s momentum remains in place, even as US yields pullback. The USD/CAD is rising for the fifth consecutive day in a row and is holding onto all gains. It is hovering around 1.2340, near the six-week high it reached on Thursday
Bitcoin whales are stocking up, with “millionaire” addresses accumulating around 90,000 Bitcoin worth $367 billion over the past 25 days. The accumulation was identified by crypto market data aggregator Santiment, which identified that wallets holding between 100 and 10,000 BTC — described by Santiment as “millionaire tier” addresses — are now the largest segment of
The 7-day incidence rate falls further to 11.6 The signs continue to point to an improving virus situation in Germany ahead of the summer, with total active cases easing further to ~34,100. That will likely spur looser restrictions ahead of the busy travel period next month through to September with perhaps a relook at the
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Fed ups inflation expectations and said thinking about thinking about tapering The US stocks are closing lower on FOMC decision, but well off the lows. The Fed up there expectations for inflation in 2021, but still see inflation rates moving back toward just over 2% in 2022. The US 10 yield is up about eight basis points to 1.579%. That is still off
SINGAPORE: Crude oil prices fell on Thursday pressured by a stronger U.S. dollar, but losses were limited by a big drop in crude oil inventories in the United States, the world’s top oil consumer. Brent crude oil futures dropped by 74 cents, or 1%, to $73.65 a barrel by 0103 GMT after reaching its highest