Share: USD/CHF drops sharply, signaling potential end to Fed’s rate hikes with investors favoring CHF. Pair’s fall below the 50 and 200-day moving averages at 0.9000 could lead to further declines. For recovery, USD/CHF needs to breach 0.9000, targeting the November 1 high at 0.9112. USD/CHF plummets in the mid-North American session on Friday after
US 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 US Core PCE last week came in line with expectations. The labour market remains pretty
There are reports of an earthquake being felt in New Delhi, with buildings shaking. A related report cites a 6.2 magnitude earthquake in the Nepal region, however the USGS classifies it at 5.6. It’s 11:45 pm local time in New Delhi so people would be indoors. The duration was a reported 40-50 seconds. New Delhi
Oil prices fell on Friday, on track for a weekly loss as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the U.S. Federal Reserve has done hiking interest rates in the world’s biggest oil consuming economy. Brent crude futures were down $1.21, or 1.4%, to $85.64 a barrel at 1431
Markets reacted with notable positivity to the latest US. non-farm payroll report, which showed weaker-than-expected growth in jobs, a higher unemployment rate, and subdued wage inflation. Stock futures leaped as the data appeared to assuage investor concerns about further tightening by Fed. In a sharp response, 10-year Treasury yield plunged through 4.55% level, exacerbating the
The October jobs report showed a cooling labor market in the U.S., with many sectors showing minimal or negative growth as the economy added a relatively meager 150,000 jobs overall. A bright spot came in health care and social assistance, which added more than 77,000 jobs. Within that, ambulatory health care gained 32,000 jobs. If
The container ship Maersk Murcia sits moored in the port of Gothenburg, Sweden, on August 24, 2020. JONATHAN NACKSTRAND | AFP | Getty Images Shipping giant Maersk, a bellwether for global trade, on Friday announced plans to reduce its workforce by more than 10,000 people and said it expected profit to be at the low
Share: AUD/USD edges higher to 0.6435 on the softer USD, risk appetite. Reserve Bank of Australia (RBA) is likely to raise the rate by 25 basis points (bps) next week. Market participants will closely focus on US employment data, including Nonfarm Payrolls. The AUD/USD pair extends its upside during the early European trading hours on
As the forex market sleepwalks as traders await the US jobs report at 8:30 AM ET, the USDCHF is hanging around its neutral area defined by the 100-hour moving average of 0.90538 and 50% midpoint of the October trading range at 0.90658. That area will be the barometer for buyers and sellers through the jobs
As 10-year Treasury yields basically undoes whatever happened in October, equities are finding much comfort especially in the last two days. Tech stocks have been surging but general sentiment in itself is extremely buoyed as major indices look to wrap up the week with another round of gains. That would make it five for five
Gold traded flat on Friday amid a steady dollar index (DXY). MCX December gold futures were trading at Rs 60,900 per 10 gram, down by Rs 11 or 0.02% from Thursday’s closing price. Meanwhile, the December silver futures were trading at Rs 71,248 per kg, lower by Rs 152 or 0.21%. On Comex, gold futures
Dollar continues to languish as one of the weakest performers of the week, sharing the lower rungs of performance with Yen and Swiss Franc. This dynamic comes in the wake of a robust rally in global stock markets and a pronounced pullback in treasury yields. Investors and policymakers alike are now poised for the release
Now Hiring banner in window of FedEx Office storefront, Queens, New York. Lindsey Nicholson | UCG | Universal Images Group | Getty Images Apologies if you’ve heard this one before, but the jobs market is slowing down. No, really. Aside from the long-standing calls for a recession to hit the U.S., the expectation for a
In this article SQ Follow your favorite stocksCREATE FREE ACCOUNT Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square arrives on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. Joe Raedle | Getty Images
The Dubai Financial Services Authority (DFSA) recognized two more tokens on Nov. 2, adding XRP (XRP) and Toncoin (TON) to its list of recognized tokens. They join Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as coins recognized in the Dubai International Financial Centre (DIFC). The tokens’ new status will allow financial institutions in the DIFC
Share: USD/CHF fell to 0.9050, seeing 0.30% losses. The USD is losing interest due to the Fed dovish tone on Wednesday’s decision. Ahead of October’s Nonfarm Payrolls, the US reported weak labor market data. Indicators flash signals of further downside. In Thursday’s session, the USD/CHF saw red, mainly driven by a broad USD weakness following
US UK The BoE kept interest rates unchanged as expected today. The central bank is leaning towards keeping interest rates “higher for longer”, although it keeps a door open for further tightening if inflationary pressures were to be more persistent. BoE Governor Bailey repeated that they will keep rates high for long enough to get
CNN reports that the US intelligence community believes that Iran and its proxies are calibrating their response to Gaza to avoid direct conflict with the US and Israel. “This is a very fine line to walk,” Christy Abizaid, the director of the National Counterterrorism Center, told a Senate committee on Tuesday. “And in the present