Markets are generally staying in consolidative mode today, with subdued movements. Sterling is trading mildly lower, followed by Aussie, and Dollar. New Zealand Dollar firms up mildly after initial dip. Euro and Swiss Franc are also stronger, helped by buying against the Pound. Gold is struggling in range below 1900 handle, but looks ready to
US Federal Reserve Governor Lael Brainard attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images Federal Reserve Governor Lael Brainard pressed the case for a digital dollar, saying Monday that a cryptocurrency backed by the central bank could provide a
Silver extends rebound from 100-SMA, monthly support line. Multiple levels between $27.90 and $28.00 test bulls amid upbeat MACD. Early month tops add to the downside filters. Silver prices hold onto Friday’s recovery moves, followed by Monday’s run-up, during early Tuesday morning in Asia. In doing so, the white metal keeps its bounce off 100-SMA
A quiet start so far but the market may still be left searching for answers by the time we start moving towards June A holiday in most parts of Europe is making for subdued tones so far on the session with little change all around in the market. As things stand, the inflation debate is
Two key charts to watch for the dollar in the week ahead The greenback has staved off a further decline towards the end of last week and is holding steadier so far today as well. Major currencies are little changed amid holiday thin trading in Europe but there’s still much to look forward to in
NEW DELHI: Crude oil prices rose Rs 75 to Rs 4,734 per barrel on Monday as participants widened their positions on a firm spot demand. On the Multi Commodity Exchange, crude oil for the June delivery traded higher by Rs 75, or 1.61 per cent, at Rs 4,734 per barrel in 5,717 lots. Analysts said
Economic data released since the last meeting have continued to improve. We expect the RBNZ to upgrade economic assessments at the upcoming meeting, acknowledging recent positive developments. Yet, policymakers would continue to attribute the spike in inflation to temporary factors. All monetary policy measures will remain intact. The job market has continued to improve. The
Tesla shares steady on Friday, a small fall of 1% but still at a key juncture. TSLA shares have fallen sharply since January. TSLA rallies up to resistance at the 200-day moving average. Tesla shares lost some ground on Friday but it was a relatively modest 1% loss with the shares closing at $580.88. Earlier
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FX performance this week The US dollar is holding near the highs of the day with US equities now back to flat. The market did not like the strong Markit report because it could bring tapering closer. I don’t share that belief because the Fed wants to look through the reopening boom and because a
Finds sellers The USDJPY has moved higher and trades up to the 100 hour MA at 108.972. The pair has found sellers against that level as risk can be defined and limited. IT will take a move above that MA level to tilt the bias more to the upside. Invest in yourself. See our forex education
NEW DELHI: Indian state refiner Hindustan Petroleum Corp said on Friday it expects global oil prices to ease and stay below $70 per barrel if the United States lifts sanctions against Iran. India, the world’s third largest oil consumer and importer, halted oil imports from Tehran in 2019 as a temporary waiver granted to some
The minutes for the FOMC meeting in April revealed that policymakers discussed about QE tapering. This came in as a surprise to the market, sending USD higher and Treasury lower. Both the policy statement and the press conference of the April meeting downplayed the need of QE tapering. Recall that at the press conference, Chair
“Will maintain the exchange rate of the yuan at ‘basically stable’ levels,” said People’s Bank of China (PBOC) Vice Governor Liu Guoqiang during the weekend. The policymaker added, “Trend of the exchange rate will be decided by supply and demand along with changes in international financial markets.” FX reaction… Although the news should assure fewer
Press Sec. Psaki Pres. Biden meeting this afternoon with GOP on infrastructure Put forth a reasonable counteroffer WH offered a counter proposal on infrastructure from $2.25 trillion to $1.7 trillion Counteroffer reflects the view that Republican offer excludes proposals that are key to US growth Pres. Biden remains opposed to gas tax, user fees, raising taxes on
Falling below the 100 hour MA. The GBPUSD is trading to a new session lows and in the process, has moved below the swing area going back to May 10 to May 12 (see yellow area and red numbered circles). That area is now resistance (PS the 100 hour MA is near the top of that