In this article CSCO Follow your favorite stocksCREATE FREE ACCOUNT Chuck Robbins, chief executive officer of Cisco, participates in a Bloomberg interview at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2024. Stefan Wermuth | Bloomberg | Getty Images Cisco reported earnings and revenue for the fiscal third quarter that topped Wall Street’s
Gold price hits $2,390, its highest level in three weeks, gaining over 1%. US Treasury bond yields plunge, US Dollar Index drops to five-week low. April Retail Sales stagnate, while Fed officials express concerns about restrictive monetary policy. Gold price extended its uptrend for the second straight day on Wednesday and hit a three-week high
The NZDUSD is racing higher today as “risk-on” flows = Buy NZDUSD (at least today). Technically, the price moved back above the 100 day MA at 0.6088 and then the 50% of the move down from the December 2023 high at 0.6109. Those levels are now close risk levels for buyers. Staying above give the
The Australian dollar is up nearly 1% today in a broad rally in risk trades and slump in the US dollar. Westpac highlighted AUD/USD longs as something on its radar before the US CPI data but with the break, I’d expect them to get more-favourable to AUD/USD buys. AUD/USD has been showcasing more secure credentials,
Crude prices slid about 1% to an 11-week low on Wednesday after data from the International Energy Agency (IEA) showed oil demand in developed countries likely would flag this year. Brent futures fell 62 cents, or 0.8%, to $81.76 a barrel by 10:59 a.m. EDT (1459 GMT), while U.S. West Texas Intermediate (WTI) crude fell
Dollar falls broadly in early US session following the release of CPI data that shows disinflation resumed in April. This has reignited hopes that Fed is on track to start cutting interest rates by September, with Fed fund futures now indicating more than 70% probability of such a move. The renewed optimism has also boosted
The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc’s economic chief said Wednesday. “I think that as far as Europe is concerned we need a more mature attitude in our trade, securing our economy … especially with China,” European Commissioner
Palo Alto Networks is clawing its way back after a brutal earnings sell-off in February, and Wall Street analysts say the cybersecurity company’s earnings next week will justify its resurgence. Shares of Palo Alto plunged 28% on Feb. 21, a session after the company delivered a more cautious outlook for the rest of 2024. The
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $28.77 per troy ounce, up 0.54% from the $28.62 it cost on Tuesday. Silver prices have increased by 12.96% since the beginning of the year. Unit measure Today Price Silver price per troy ounce $28.77 Silver price per gram $0.92 The Gold/Silver
Fundamental Overview Yesterday, the USD weakened across the board following the US PPI release where the data came in line with expectations. The reaction showed that the market is eager to buy risk and that even little signs of better inflation figures can trigger positive risk sentiment. This will be important to remember in light
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
Ahead of the US inflation data, gold June futures on the MCX traded on a flat note, up 0.09% or Rs 68 at Rs 72,365/10 grams on Wednesday while MCX Silver July contracts rose 0.18% or Rs 152 to Rs 85,569/kg. The US inflation data (the core consumer price index) is expected to indicate a
Dollar remains broadly under pressure during Asian session as markets await the highly anticipated US CPI data. Expectations of Fed rate cuts have been building again since non-farm payroll data indicated a loosening job market. However, for the Fed to consider monetary easing, it is crucial that inflation shows signs of following suit with clear
People shop in the food section of a retail store in Rosemead, California, Jan. 19, 2024. Frederic J. Brown | AFP | Getty Images Inflation trends may have gotten a little less dreary in April, though they are still likely to keep the Federal Reserve uncomfortable enough to stay on pause with interest rates. The
In this article HD Follow your favorite stocksCREATE FREE ACCOUNT The logo of U.S. home improvement chain Home Depot is seen in Mexico City, Mexico, on Jan. 15, 2020. Luis Cortes | Reuters Home Depot on Tuesday posted quarterly revenue below Wall Street’s expectations, as shoppers postponed bigger discretionary projects like bath and kitchen remodels
GBP/JPY marches higher as markets eat away at “Yentervention” territory. UK labor figures worsened, but not as badly as expected. Japanese GDP growth due on Thursday. GBP/JPY rose further on Tuesday, clipping into the 197.00 handle as the broader FX market continues to sell the Japanese Yen (JPY) across the board. UK labor figures wobbled
USDCHF technical bias is shifted to the sellers. Near the start of the US session, the USDCHF was testing the 100/200 hour moving averages (MAs – blue and green lines in the chart above). After falling below these levels, the price moved down to test the high of a swing area between 0.9048 and 0.9056.
The May and June US copper contracts both touched $5 per pound today, a record high for the the metal. The story is well-known and something I’ve been writing about for years: There has been minimal investment in new supply and the green transition is incredibly copper-intensive. The latest leg is also benefiting from current