The GBPJPY has been on an upward trend this week, but it turned lower during the European session following weaker-than-expected flash PMI data. The price dropped below its 100-hour moving average (blue line on the chart above at 200.77) but found support near the 200-hour moving average and the lower boundary of a swing area
The US is determined to dominate semiconductors and not allow China to catch up. New proposed rules restrict US investment in key sectors Rules ban certain investments in design, automation, fabrication and advanced packaging tools Quantum computers and AI also targeted Proposes notification requirements for all other investments in Chinese AI system development The US
Gold prices for MCX August futures contracts opened at Rs 72,693 per 10 grams, gaining Rs 720 or 1% this week while MCX July future contracts for silver rose by Rs 2,300 or 2.6% in the same period, opening at Rs 91,420/kg. Gold saw its biggest daily gain in five weeks, rising 1.4% on Thursday,
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | Reuters The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed
The UK Retail Sales rebounded 2.9% MoM in May, a big beat. Monthly Core Retail Sales for the UK jumped 2.9% in May. GBP/USD holds gains above 1.2650 after upbeat UK data. The United Kingdom (UK) Retail Sales rebounded 2.9% over the month in May after falling 1.8% in April, the latest data published by the
Yen is under intense scrutiny today as it continues a six-day losing streak, approaching the key psychological level of 160 against Dollar. This move comes despite Japan’s core inflation reaccelerating in May, but failed to meet market expected pace. Additionally, core-core CPI, which excludes both food and energy, and services inflation both continued to decline.
GBPUSD sellers are making a play The GBPUSD fell earlier today. The BOE kept their policy rate unchanged today. However, as Justin pointed out in his posts after the decision, the Bank of England’s latest statement includes subtle dovish hints suggesting potential rate cuts in the near future. In the forward guidance, the BOE added,
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices were flat on Friday but were on track for their second straight weekly gain as weak economic data from the U.S. boosted expectations that the Federal Reserve would cut interest rates this year. FUNDAMENTALS * Spot gold was little changed at $2,358.31 per ounce, as of 0139 GMT. U.S. gold futures edged 0.2%
IMF Managing Director Kristalina Georgieva arrives at a briefing in Washington, D.C., on Friday, April 19, 2024. Bloomberg | Bloomberg | Getty Images The head of the International Monetary Fund on Thursday called on Europe to achieve the full potential of its prized single market, lamenting what she described as a situation that makes the
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT Customers arrive at an Olive Garden location in San Antonio, Texas. Callaghan O’Hare | Bloomberg | Getty Images Casual-dining chains are gaining customers who have grown frustrated with higher fast-food prices, Darden Restaurants CEO Rick Cardenas said on Thursday. While Darden itself hasn’t benefited from
US Dollar gets a boost from an increase in US Treasury yields on Thursday. Markets still show signs of caution as Fed officials express a conservative stance on embracing easing cycles. The mixed US economic outlook tempers upside in the Greenback. On Thursday, the US Dollar, as gauged by the Dollar Index (DXY), saw significant
Swiss Franc is currently the worst performer today, plummeting after SNB delivered a rate cut for the second consecutive meeting. In addition to the rate reduction, SNB lowered its inflation forecast across the board. Nevertheless, Franc’s selloff has been relatively restrained. Notably, SNB did not mention the recent sharp appreciation of the Franc in its
The AUDUSD earlier this week tested the low of what has been a fairly confined trading range between 0.6575 AND 0.66896 (see red box on the chart below), and then tested the high of that swing area both yesterday and today. So traders continue to trade the range by leaning on the downside and on
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices for MCX August contracts opened on a flat note on Thursday at Rs 71,746 per 10 grams after falling by Rs 2,950 in the last one month while silver July contracts also fell by Rs 5,000 in the same period and opened Rs 775 or 0.87% higher today at Rs 90,250/kg. Gold rose
General view of the Bank Of England building in London. Sopa Images | Lightrocket | Getty Images LONDON — The Bank of England on Thursday opted to keep interest rates steady at its June meeting, but described the decision as “finely balanced” after U.K. inflation hit its 2% target. Markets nudged bets on an August
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT Olive Garden Italian restaurant sign showing company logo, Spokane Valley, Washington, owned by Darden Restaurants Incorporated headquartered in Florida. Universal Images Group | Getty Images Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden’s same-store sales fell for the second consecutive quarter. For