AUD/USD slightly retreats, settling near 0.6575 on Friday. RBA reiterates its hawkish stance, contributing to a buoyant AUD. Investors digest Chinese inflation reported during the European session. The AUD/USD pair witnessed a minor setback at 0.6575 during Friday’s session, a modest descent of 0.30%. That being said, the Reserve Bank of Australia’s (RBA) unwavering hawkish
The global financial markets started last week in a state of panic, driven by a sharp selloff in stock markets, with Japan’s Nikkei index experiencing particularly heavy losses. However, as the week progressed, this initial wave of panic appeared to subside, with market sentiment stabilizing somewhat. This calmness, however, should be viewed with caution. The
The NZDUSD fell to a new low for the year on Monday on the back of the sharp fall in the Nikkei 225 (-12.4%). However, that new low only took out the April 2024 low by a few pips, and the price snapped higher. The momentum stalled near highs from last week nearly 0.5982 and
With less than an hour left to go in trading, the broader stock indices are trying to fight its way to a positive close for the trading week. Both the S&P and NASDAQ indices are currently on pace for a negative close. If it remains that way, it would represent the fourth consecutive down week
Demand worries amid economic recession fears dragged down oil prices, but losses were limited due to the potential loss of supplies from the Middle East and an unexpected drawdown in US crude inventories.The Asian benchmark Brent crude dropped to a low of $75.05 a barrel last week, its lowest level since January. A similar selloff
In this article UAA Follow your favorite stocksCREATE FREE ACCOUNT Under Armour apparel is displayed at a Dick’s Sporting Goods store on May 16, 2024 in Petaluma, California. Justin Sullivan | Getty Images Under Armour on Thursday said quarterly sales fell 14% in North America, and adjusted its full-year profit guidance after settling a years-old
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The main economic data release overnight was the latest CPI report from China for July, MUFG FX analyst Lee Hardman notes. USD/CNY rises back towards the 7.1800 level “The report revealed that headline inflation picked up modestly by 0.3 points to 0.5% in July. The core measure on inflation fell to 0.4% in July from
The US stock market rebounded notably overnight, with all three major indexes closing higher. However, this positive momentum didn’t carry over to the Asian session, where major markets are trading mixed. Despite the gains in the US, the price actions this week still appear more corrective than not, indicating that selling pressure has only temporarily
The Canada jobs data had something for everyone today. The unemployment rate was steady vs. last month at 6.4%, but lower than the estimate of 6.5%. The employment data showed a decline of -2.8K for the 2nd consecutive month decline, but there was 61K of full time jobs but -64K of part time jobs. So
It seems like ages ago, but on Monday, it seemed like markets were on the precipice. The Japan’s Nikkei 225 index on Monday fell -12.4% and analysts were figuring out where the circuit breakers would be. There were chatter on how the Fed needed to have an emergency meeting and cut rates by 75 basis
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Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits came to a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the
Eli Lilly on Thursday reported a home-run quarter fueled by sales of its blockbuster obesity and diabetes drugs, quieting any lingering investor concerns in the stock. Revenue in the second quarter jumped 36% year over year to $11.3 billion, easily topping expectations of $9.92 billion, according to estimates compiled by LSEG. Adjusted earnings per share
In the year-to-date USD/JPY has traded in a mighty range that has stretched almost from 140 to 162. By contrast EUR/USD has been stuck between 1.06 and 1.10, Rabobank’s FX analyst Jane Foley notes. Potential risks for a break higher coming from a softer USD “The lack of strong direction in EUR/USD is despite a
As we move into US session, safe-haven currencies like Yen, Swiss Franc, and Dollar are showing modest gains, driven by weaker stock futures and treasury yields. However, momentum behind these currencies remains unconvincing, with trading sluggish across the board. Most major pairs and crosses are confined within the ranges established yesterday, reflecting a cautious market
On Wednesday, the USDCHF moved back above its 100-hour moving average and although the price corrected lower into yesterday’s Asian and early European session, the downside momentum found willing buyers near that moving average level. The subsequent rise on the back of higher US stocks yesterday (and the unwinding of the flight to safety flows
The major US stock indices are trading mixed in early action. The NASDAQ and the S&P are little changed. The Dow industrial average is lower. A snapshot of the market 11 minutes into the open and showing: Dow industrial average -125.70 points or -0.32% at 39320.80. S&P index -2.89 points or -0.05% at 5316.41. NASDAQ