The Bank of England hosts a policy meeting today, with a likelihood of policy parameters being left unchanged. Cable’s recent decline to 1.3779 off UK-EU tensions is priced in (and unlikely to extend with arbitration in focus), leaving GBP/USD’s uptrend support at 1.3749 untested, which means there is room for the pair to push higher,
Gold is down 0.3% to around $1,740 currently Invest in yourself. See our forex education hub. The low earlier hit $1,735.60 but gold is holding around a key short-term technical level around $1,740 currently on the session. The post-Fed knee-jerk reaction saw gold jump above the short-term resistance around $1,740 but buyers never really got
Nasdaq futures fall by 0.9% on the day There’s a thought here that the equities complex may see a bit of a problem with 10-year Treasury yields rising to 1.75% – it is already at 1.72% currently. So, keep an eye on how all of this may turn into a bit more of a risk-off
NEW DELHI: Gold and silver futures climbed on Thursday as the dollar weakened after the US Federal Reserve kept the interest rate unchanged and reiterated its stance to keep benchmark rates near-zero through at least 2023. The dollar index dropped 0.5 per cent to 91.405, making the greenback-denominated metal cheaper for non-US investors. Gold futures
Dollar dropped broadly overnight as markets turned into mild risk-mode following FOMC rate decision. A better economic outlook was painted by the new economic projections. Yet, Fed is clear that it’s not even considering tapering the asset purchases for now. DOW and S&P 500 rose to new record while 10-year yield also closed higher. Commodity
The Federal Reserve on Wednesday sharply ramped up its expectations for economic growth but indicated that there are no interest rate hikes likely through 2023 despite an improving outlook and a turn this year to higher inflation. As widely expected, the policymaking Federal Open Market Committee also voted to keep short-term borrowing rates steady near
Pedestrians walk in front of a Williams-Sonoma Inc. store in San Francisco, California. David Paul Morris | Bloomberg | Getty Images Williams-Sonoma posted fourth-quarter earnings Wednesday that beat analysts’ expectations as consumers continued to shop for new products for their home during the coronavirus pandemic. The company’s stock rose about 10% in extended trading, as
The explosion of interest in non-fungible tokens over the past two months has taken some of the attention away from the decentralized finance sector but this doesn’t mean that some projects are not seeing bullish breakouts. One project that has continued to work on expandin the capabilities of its ecosystem is the Kyber Network (KNC),
Silver moves higher into bullish territory following dovish Fed. US dollar crumbles as the market comes back more into the line of a dovish Fed. Silver prices are moving into the closing bell on Wall Street higher by almost 2% following a dovish outcome from the Federal Reserve which has weighed on both the rates
Key levels at the end of the Fed chair press conference Below are the levels as chair Powell began his press conference and after: Forex rates vs the USD: The dollar moved lower. EURUSD 1.1961. Up to 1.1973 . USDJPY 108.96. Down to 108.83 GBPUSD 1.3918. Up to 1.3949 USDCHF 0.9240. Down to 0.9219 USDCAD 1.2442. Down to 1.2412 AUDUSD 0.7765. Up
Powell wraps up the press conference You would have to dig very deep to find anything remotely hawkish about the FOMC statement or Powell’s press conference. The market reaction has been definitive and it’s extending following the Q&A: USD lower Stocks higher Treasury curve on a front-end led bull steepener Commodity prices higher including 1%
Gold prices inched lower on Wednesday, pressured by elevated US bond yields and a firmer dollar, but remained within a tight range as markets await the outcome of the Federal Reserve‘s monetary policy meeting. Spot gold was down 0.1% at $1,728.52 per ounce at 9:54 A.M EDT (1354 GMT). US gold futures also eased 0.1%
The markets remain generally quiet today, awaiting FOMC rate decision. Sterling regains much of the ground lost earlier in the week. Canadian Dollar is also firm, in particular against other commodity currencies. On the other hand, Swiss Franc is paring some of yesterday’s gains, while Aussie and Kiwi turn week. Dollar and Euro mixed for
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Higher mortgage rates are cutting into demand for refinances, as fewer and fewer borrowers can now get worthwhile savings. Applications to refinance a home loan fell 4% for
A woman shops for Lands End brand sweaters in Niles, Illinois. Tim Boyle | Getty Images Land’s End shares jumped nearly 7% in premarket trading Wednesday after the apparel and home-goods retailer reported fourth-quarter earnings and sales that topped analysts’ estimates. It also offered a better-than-expected outlook for the current quarter, and anticipates sales and
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The USD is mixed As North American traders enter for the day, the CHF is the strongest and the GBP is the weakest. The USD is trading mixed. Most of the major currencies are close together in the ranking. The USD has changes of less than 0.17% vs EUR, JPY, CAD, AUD and NZD. In the US, retail sales will