The USD buying today has also influenced the price action in the NZDUSD. For that pair, the pair fell and initially found support buyers against the 200- hour moving average and 50% retracement near 0.61418. After bouncing modestly, the sellers piled in and pushed below the dual technical levels. The subsequent momentum in the price
Japan’s finance minister Suzuki said today that the country was “no longer in deflation.” This is a sharp turnaround from comments from officials previously. Indeed, it was only Tuesday when Suzuki was reported as saying we cannot declare deflation as beaten. Suzuki’s comment today is clear support for the Bank of Japan to tighten policy.
– Gold prices were headed on Friday for their first weekly fall in four as surprisingly hot U.S. inflation readings suggested that the Federal Reserve could reduce the number of rate cuts this year and may push the first cut beyond June. FUNDAMENTALS * Spot gold was up 0.1% at $2,162.66 per ounce, as of
Overall, the forex markets are still stuck in consolidative trading in Asian session, with expectations set for a subdued European session given the light economic calendar. However, anticipation builds for volatility spikes with releases of US retail sales and PPI later today. For now, Canadian Dollar is the stronger one for the week, followed by
Gas prices are displayed at a gas station on March 12, 2024 in Chicago, Illinois. Scott Olson | Getty Images From consumer and wholesale prices to longer-term public expectations, reports this week served up multiple reminders this week that inflation isn’t going away anytime soon. Data across the board showed pressures increasing at a faster-than-expected
In this article ADBE Follow your favorite stocksCREATE FREE ACCOUNT Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024. Brendan Mcdermid | Reuters Adobe shares tumbled as much as 9% in extended trading on Thursday after
Indian Rupee trades on a negative note on Friday amid a stronger US Dollar. India’s Wholesale Price Index-based inflation dropped to a four-month low, weaker than expected. Investors will focus on the Indian Trade Balance data and US preliminary Michigan Consumer Sentiment, due on Friday. Indian Rupee (INR) loses momentum on Friday. The uptick in
In this video, I take a look at the AUDUSD as it follows the USD higher and tests the low in AUDUSD from earlier this week. A break below would next have traders looking toward the 100 day MA at 0.66735. As a bonus and in addition to the technicals that are driving the AUDUSD,
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 fell on Thursday in the opening trade amid profit booking after a strong rally that took yellow metal prices to the lifetime highs of 66,356 per 10 grams. They have corrected by Rs 549 or 0.82% from their peak. They were trading at Rs 65,807, down by Rs 90 or 0.14%. May Silver
Consolidative trading continues in the forex markets in general. There is little reaction to the batch of economic data released from there US. Comments from ECB officials were also largely ignored. For now, commodity currencies are the stronger ones for the week, as led by Canadian Dollar, while Euro is also firm. Sterling and Swiss
A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures
Dick’s Sporting Goods logo is seen on the shop in Williston, United States on June 19, 2023. Jakub Porzycki | Nurphoto | Getty Images Dick’s Sporting Goods raised its dividend by 10% on Thursday as the company posted its largest sales quarter in its history and projected another year of growth. Many retailers benefited from
Gold is enjoying a remarkable start to the year. Economists at MUFG Bank analyze the yellow metal’s outlook. Gold’s structural resilience has further to run Yet, beyond the likely solidification of Fed cut expectations in the coming weeks and months, it is the structural channels of physical demand for Gold that excites us most, which
The NZDUSD started the day with a move below the low of a swing area at 0.6148. However, the price started to find buyers later in the Asian session, and in the process moved through the high of a swing area at 0.6159. That break took the price up to test its 100 hour moving
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 traded flat in early Asian trade hours on Thursday, within close range of record-high levels on a broadly weaker dollar, as traders awaited more economic data that could steer hopes for a mid-year rate cut by the U.S. Federal Reserve. FUNDAMENTALS * Spot gold was flat at $2,173.89 per ounce, as of 0147
In today’s subdued Asian session, the currency markets saw minimal movement, with most major pairs and crosses gyrating within yesterday’s range. Japanese Yen managed to carve out modest gain, buoyed by optimistic remarks and tangible actions related to wage growth within the country. Chief Cabinet Secretary Yoshimasa Hayashi’s commentary on seeing “strong momentum” for wage