A quiet yet tense atmosphere pervades the financial markets today, as traders’ anticipation builds, eyes keenly focused on unfolding developments in the Israel-Hamas conflicts. Such geopolitical uncertainties are casting a shadow over most major trading hubs, prompting cautious moves among investors. In the European markets, major indexes are painting a mixed image. FTSE is registering
Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Pool | Via Reuters U.S. Treasury Secretary Janet Yellen said the country can “absolutely” afford to financially support both Israel and Ukraine in their respective war efforts. President Joe Biden in a post on
Share: The Euro keeps the bid bias unchanged against the US Dollar. Stocks in Europe close the session with a decent advance across the board. EUR/USD faces immediate target at the 1.0600 hurdle. The USD Index (DXY) meets initial support around 106.30. German Wholesale Prices rose 0.2% MoM in September. US NY Empire State Manufacturing Index worsens less
NZD/USD has popped a few points in the early hours here on Monday with only New Zealand markets underway: The marking higher of the kiwi $ is a market dynamics move rather than an important shift in fundamentals. If you think the new government will solve all the problems the NZ economy is facing and
I posted analysis from TD here earlier: Adding some more remarks, including forecasts for WTI: current positioning analytics suggest that substantial buying activity could take place north of $90.50/bbl in Brent, supporting continued strength the risk premium driven by the current Israel-Hamas conflict, prompts us to say that WTI crude will trade above the $90/bbl
Discounts on Russian oil imported by India have nearly doubled in the past two months to $8- 10 per barrel as state refiners mounted pressure on suppliers and reduced their intake from Russia for a while, according to people familiar with the matter. Expanding discounts have boosted imports, increasing Russian oil’s share in India’s overall
Share: As risks of the Hamas-Israel war engulfing the entire region mount, the United States (US) and its allies step up their efforts to douse the flare-up, as they remain concerned about a potential Iranian intervention in the conflict. White House National Security Advisor Jake Sullivan said Sunday the US couldn’t rule out Iran intervening either directly
GBPJPY tests/breaks below 100 day MA Looking at the daily chart, the 100 day moving average currently comes in at 181.64. The price has just dipped below that level and currently trades at 181.57. Admittedly, earlier this month, the price fell below the moving average level for the 1st time since March 2023, but could
UPCOMING EVENTS: Monday: Japan Industrial Production, NZ CPI, PBoC MLF. Tuesday: RBA Meeting Minutes, UK Jobs report, German ZEW, Canada CPI, US Retail Sales, US Manufacturing Production, US NAHB Housing Market Index. Wednesday: China GDP, China Industrial Production, China Retail Sales, China Unemployment Rate, UK CPI and PPI, US Housing Starts and Building Permits. Thursday:
Canon, the Japanese company recognized for its printers and cameras, unveiled a pivotal solution on Friday, Oct. 13, designed to aid in the production of cutting-edge semiconductor components. According to a report from CNBC, Canon’s recently introduced “nanoimprint lithography” system represents the company’s competitive response to Dutch firm ASML, a dominant force in the extreme
Gold staged a stunning rally on Friday on escalation of the Mideast conflict. The situation took a grave turn after Israel gave Gaza Palestinians twenty-four hours to evacuate the Gaza Strip as the Israeli army prepared for a massive assault in Gaza. The ultimatum sent huge ripples of heightened geopolitical tensions that put a solid
Share: EUR/JPY slips inside the Ichimoku Cloud after maintaining levels above it for the past three sessions. The pair breaches the October 12 low of 157.64, with potential further descent towards crucial support levels identified around 156.49/47, 156.00 mark, and Kumo’s bottom at 155.55/60. For upward momentum, the EUR/JPY needs to reclaim the 158.00 level
Crude oil prices surge today The price of WTI crude oil is extending above the $87 level to a high of $87.37. Oil prices have surged today following the U.S.’s enhancement of sanctions against Russian crude exports, amplifying supply anxieties in an already constrained market. The U.S. targeted tankers carrying Russian oil priced above the
Sat: New Zealand General Election Mon: New Zealand CPI (Q3), PBoC MLF Tue: RBA Minutes, German ZEW Survey (Oct), US Retail Sales (Sep), Canadian CPI (Sep) Wed: Chinese GDP (Q3), Chinese Industrial Output (Sep) and Retail Sales (Sep), UK Inflation (Sep), EZ Final HICP (Sep) Thu: BoK Announcement, Bank of Indonesia Announcement, Japanese Trade Balance
Global oil prices held steady near $85 a barrel, but traders remain cautious following the eruption of violence between Israel and Hamas, which could potentially disturb the oil supply chain in the Middle East. Prices clocked one-year highs at the end of September, driven by worries about supply shortages after a surprise extension of voluntary
Share: The GBP/JPY extended losses into Friday trading, tapping into 181.27 and ending the week on the low side. The Pound Sterling rose to 183.82 in the mid-week, but bad data buds and souring market sentiment sent the Guppy back into the week’s lows. Coming up next week: UK labor and wages figures on Tuesday,
The GBPUSD is trading to a new low for the day and the week, and in the process is in closer to a swing area between 1.2105 and 1.2111. Moving below that level and the 38.2% retracement of the move up from the September 2022 low comes into focus at 1.2076 followed by the low
SPX daily Closing changes on the day: S&P 500 down 0.6% DJIA +0.1% Russell 2000 -0.8% Nasdaq Comp +1.3% Toronto TSX Comp -0.3% Closing changes for the week: S&P 500 up 0.4% DJIA +0.8% Nasdaq Comp -0.2% You hate to see Lockheed Martin up 1.6% and closing near the best levels of the week ahead