BofA Securities head of US equity and quantitative strategy in a Bloomberg TV interview overnight: probably a lot of this good news has been priced … maybe even overpriced into the Mega-cap tech cohort. Everybody owns these companies, so there’s not a lot of buying pressure. But there is a broader array of companies that
The profitability of most domestic steel makers is set to improve by ₹500-₹2,000/tonne quarter-on-quarter in the three months to September, largely aided by lower cost of a key raw material, according to analysts, even as steel prices fell in the seasonally weak period. The cost of coking coal, which is used in the production of
Sterling has emerged as the predominant force in today’s currency market, a surge attributed to the dramatic escalation in UK gas prices, which have ascended to their peak since June. Concerns about potential sabotage exacerbating supply constraints are rife, especially after a leak was detected in the Balticconnector pipeline—a crucial conduit for gas transmission between
Israeli armuy soldiers deploy at a position near the border with Gaza in southern Israel on October 11, 2023. Menahem Kahana | AFP | Getty Images As Israel prepares for what could be a long war with massive humanitarian implications, there are also concerns about how a protracted fight could weigh on the country’s dynamic
Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD traded up and down in the Asian and European morning session and then moved lower after the insured expected PPI. Over the price has rebounded since then and currently trades just below the 50% midpoint
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A project that started out as an institutional-grade quantitative trading system for cryptocurrencies and stocks has transitioned to become a decentralized network sourcing GPU computing power to serve increasing demand for AI and machine learning services. Io.net has developed a test network that sources GPU computing power from a variety of data centers, cryptocurrency miners
Gold traded range bound on Wednesday in the international and domestic markets amid a steady dollar. The MCX December gold futures were trading at Rs 57,651 per 10 gram, up by Rs 22, or 0.04%. Meanwhile, the December silver futures were trading at Rs 69,035 per kg, higher by Rs 117 or 0.17%. MCX Gold
Dollar is exhibiting mixed performance in today’s relatively calm trading environment. Earlier losses were swiftly counteracted, illustrating the greenback’s resilience amidst fluctuating conditions. Interestingly, the extended pullback in treasury yield has left Dollar unscathed, and it has similarly shrugged off stronger than expected PPI data. All eyes are now set on the release of the
A worker prints a label for a fire hose at the NewView Oklahoma facility in Oklahoma City, Sept. 16, 2021. Nick Oxford | Bloomberg | Getty Images A measure of wholesale prices rose more than expected in September, indicating simmering inflation pressures for the U.S. economy. The producer price index, which measures costs for finished
Share: Producer inflation in the US accelerated in September. US Dollar Index stays below 106.00 after the PPI data. The Producer Price Index (PPI) for final demand in the US rose 2.2% on a yearly basis in September, up from the 2% increase recorded in August, the data published by the US Bureau of Labor
USDJPY trades back below the 100 hour MA. Bearish. The USDJPY moved higher into the US session today, and in the process moved between the 100-hour MA (blue line at 148.83) and the 200-hour MA (green line at 149.129). The high price reached 149.09 which was just above the broken 38.2% at 149.069. The inability
DB says that inflationary pressure is receding: central bank tightening supply chain pressures have diminished commodity price inflation has subsided But, say the analysts, now is not the time to become complacent, urging caution. Outlining 4 reasons to be wary of an inflation resurgence: 1. Above target inflation persists in every G7 country 2. With
Gold prices slipped on Tuesday after rising nearly 2% in the previous session as investors cautiously turned back to riskier assets and looked forward to further cues on the U.S. central bank‘s policy stance. Spot gold was down 0.3% at 1,856.39 per ounce as of 10:58 a.m. EDT (1458 GMT) after rising to a more
Yen is facing renewed selling pressure today as the development coincides a remarkable rebound in Nikkei and pullback in 10-year JGB yield. The notable rally in Nikkei, marking its largest single-day surge in nearly a year, is pivotal, signifying the potential of an extended risk-on sentiment in Japan that could correlate with a further depreciation
New homes under construction in Miami, Florida, Sept. 22, 2023. Joe Raedle | Getty Images Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging housing costs and a “historic shortage” of available homes for sale. In a letter Monday addressed to
Share: NZD/USD touches a one-month peak on Wednesday and is supported by a softer USD. Reduced bets for more rate hike by the Fed and a positive risk tone weighs on the buck. Investors now look to the US PPI and the FOMC minutes for some meaningful impetus. The NZD/USD pair attracts some follow-through buying
The strongest to the weakest of the major currencies The EUR is the strongest and the JPY is the weakest as the North American session begins. The USD is mixed with the USDJPY the biggest mover vs the greenback (+0.40%). The USD is lower vs the EUR and the GBP to start the US trading