Share: The Dollar has entered a consolidative phase. Economists at ING analyze USD outlook. Consolidative phase For today, the focus will be on US housing starts and another batch of Fed speakers. Recent Fed speakers have barely moved the needle on expectations of the Fed policy cycle and instead, it has been the data doing
USD The Fed left interest rates unchanged as expected with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward.
As we look towards the closing stages of the week, the main focus is on the bond market. And with yields slipping further in European trading, it is sparking some broader market moves. Of note, USD/JPY is now down 0.8% to 149.55 while stocks are beginning to pick up some steam on the session. S&P
MCX gold traded with strength on Friday, having hit a fresh lifetime high of Rs 61,914 per 10 gram on Thursday and is set to end with weekly gains for the first time in three weeks. The uptick has ridden on the weaker dollar index (DXY) which has fallen 1.43% in the past five sessions.
As the trading week draws to a close, the forex markets are experiencing a period of relative calm in today’s Asian session. Key developments include Euro’s attempted resurgence against Dollar overnight, which, despite initial signs of a rally, lost its momentum and settled back into familiar range. This pattern of indecisiveness is mirrored by Swiss
In this article WMT Follow your favorite stocksCREATE FREE ACCOUNT Walmart store with gardening products for sale in Atchison, Kansas. Ucg | Universal Images Group | Getty Images Walmart will report quarterly earnings Thursday as the discounter generally outperforms its rivals. Here’s what Wall Street expects from the retailer, according to consensus estimates from LSEG,
Our weekly roundup of news from East Asia curates the industry’s most important developments. Hot week for Hong Kong exchanges Hashkey Exchange — one of the first regulated crypto exchanges in Hong Kong — has announced insurance coverage for clients assets stored in its hot and cold wallets. accounts. The policy will cover 50% of
Share: BABA stock loses 9%, moving below $80. Revenue for the fiscal Q2 misses consensus by $230 million. Management decides against spinning off the cloud business for now. Alibaba issues a $1 annual dividend to holders of ADS shares. Alibaba (BABA) stock closed at $79.10, down 9.15%, on Thursday. The market did not appreciate the Chinese e-commerce leader’s
GBPJPY has tested the 100 hour MA two times today The GBPJPY is down for the 2nd consecutive day after peaking on Tuesday at the highest level since November 2015. The move down today reached 186.81, and at the time, they price tested its 100-hour moving average (blue line in the chart above). A few
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Gold prices were flat in early Asian hours on Thursday as the dollar firmed after strong U.S. retail sales data, offseting support from hopes that the Federal Reserve had come to the end of its tightening cycle. FUNDAMENTALS * Spot gold was little changed at $1,958.79 per ounce, as of 0128 GMT. U.S. gold futures
Dollar is facing renewed selling pressure in the early US session, as fresh economic data points to a further cooling in the job market. A significant uptick in continuing jobless claims, reaching their highest level in nearly two years, suggests a softening labor environment. Adding to this, deeper-than-expected decline in import prices, influenced by both
In this article GPS Follow your favorite stocksCREATE FREE ACCOUNT A Gap retail store sign on September 20, 2022 in Los Angeles, California. Allison Dinner | Getty Images Gap posted a better-than-expected third quarter on Thursday, but the apparel retailer still appears cautious ahead of the holiday season as it works to reverse slowdowns at
It has become increasingly clear that stablecoins have become the dominant means of transaction settlement on public blockchains, at the exclusion of native cryptoassets (like Bitcoin/Ether). This wasn’t in the plan of the architects of these blockchains or their communities. On-chain data supports this observation: Stablecoins represent approximately 10% of the total crypto market cap,
Share: The Euro regains the smile against the US Dollar. European stocks open Thursday’s session in a mixed tone. ECB President Christine Lagarde speaks later in the session. The Euro (EUR) manages to generate some upside traction against the US Dollar (USD), motivating EUR/USD to attempt a tepid bounce to the 1.0860 zone on Thursday. The
The price of crude oil is settling at $76.66, down -$1.60 or -2.04%. The high for the day reached $78.77. The low reached $76.45. Looking at the hourly chart below, the run higher yesterday moved higher and above the 200-hour MA and a downward sloping trend line. That break, however, was short-lived, and the subsequent
It’s all looking rather tentative so far in European morning trade, as major currencies are not showing much appetite. The dollar is mostly little changed, with only the kiwi lagging against the rest of the majors. This comes as stocks are also mixed and little changed, although bond yields are slightly lower on the day.
Gold traded flat in the opening trade on Thursday amid gains in the dollar index (DXY), which has slipped below the 105 mark, hitting a 10-week low. The strength in greenback was on account of strong US retail sales data, off-setting hopes that the Federal Reserve had come to the end of its tightening cycle.