USD/JPY regained some positive traction on Monday amid receding safe-haven demand. Upbeat Chinese PMI prints remained supportive of the prevalent risk-on environment. Fed’s dovish signal last week might hold bulls from placing fresh bets and cap the upside. The USD/JPY pair edged higher through the early European session and was last seen hovering near the
Asian equities climb to start the week But the mood has been slightly tempered with going into the closing stages, with gains losing steam a little. That said, the performance on the day is solid – especially for Japanese stocks after the beating last Friday due to Abe’s resignation. The Hang Seng and Shanghai Composite
NEW DELHI: Gold and silver prices advanced on Monday as spike in Covid-19 cases in India threatens to derail the economic recovery. India is also scheduled to report its GDP print later in the day, which is expected to be the worst in decades. Global coronavirus cases surged past 25 million on Sunday as India
We expect RBA would leave the monetary policy unchanged in September. Since March, RBA has been adopting a number of measures to lower the borrowing costs and provide liquidity to the market. These include keeping the cash rate at record low of 0.25%, targeting 3- year government bond yield at 0.25%, a Term Funding Facility
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. Aly Song | Reuters Today the world’s leading chief financial officers have a more positive outlook for China’s economy than they do for the economy of the United States. The Q3
Over the past few years, blockchain technology has become synonymous with cryptocurrencies, but it is important to note that the technology in itself has a wide variety of uses. Plenty of companies that have nothing to do with cryptocurrencies are now exploring ways in which to incorporate blockchain technology into operations. Walmart is one of
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USD/JPY down by 1% on the day in a drop to 105.50 currently For bank trade ideas, check out eFX Plus The drop to 105.50 now breaches the low seen in the whipsaw following Powell’s speech yesterday, which was at 105.61. Abe’s press conference earlier was rather bland, offering little hints about his successor but
Here is what you need to know on Monday, August 31: The dollar plunged on Friday in the aftermaths of the US Powell’s announcement last week. The Federal Reserve shifted the monetary policy, putting more emphasis on employment and saying it could let inflation run beyond the 2.0% target. Japanese PM Shinzo Abe resigned over
The Oracle of Omaha turns 90 today Warren Buffet celebrates his 90th birthday today as the world’s sixth-richest man. At $82.1 billion, he’s done well for himself. Around the age of 10, he read a book about how to make $1,000 and intuitively grasped the importance of time. In five years, $1,000 earning 10% would
NEW YORK: Refiners have always produced fuel using crude oil. Now some are using grease. A slump in demand for gasoline since the onset of the coronavirus pandemic has several refining companies accelerating their plans to retrofit facilities to produce so-called renewable diesel made from, among other things, used cooking oil from fast-food restaurants. The
Dollar tumbled sharply, and broadly last week as markets perceive Fed’s adoption of average inflation targeting as a dovish move. Nevertheless, selloff were mainly against commodity currencies and, to a lesser extent, Sterling. The greenback ended in range against Euro, Swiss Franc and Gold. Even Gold just gyrated inside recently established range. Yen had every
Getty Images Now that Federal Reserve officials have sent a clear message on their desire for higher inflation, the tough part is convincing the world that they can pull it off. For the past decade, the Fed has struggled to get inflation up to the 2% target it sees as consistent with a growing economy
Former White House chief of staff under U.S. President Donald Trump Mick Mulvaney is running a hedge fund. Since 2014 Mulvaney has been recognized as a pro-Bitcoin (BTC) official, encouraging practical regulation of cryptocurrencies. The new fund called Exegis Capital was announced during a podcast with S&P Global Market Intelligence. Mulvaney would collaborate with former
Gold up $37 to $1966 Gold is back in the saddle today and on track to close at the best levels since Aug 18. It’s all about the dollar today as it trades off of that and Treasury yields. At the same time, you get the sense this is a market that’s really searching for
Gold looks north amid a favorable technical set up on 4H chart. A test of July high at $1985 is inevitable, with eyes on $2000. Weekly closing above 100-SMA on 4H chart boosts the bullish odds. Friday’s surge led Gold (XAU/USD) on the verge of a falling channel breakout on the four-hour (4H) chart, as the