In a move that left many market observers bemused, Yen declined in Asian trading session after BoJ opted for continuity, leaving its monetary policy untouched. Notably, the bank refrained from dropping any hints about potential alterations in its policy stance in the foreseeable future. With US 10-year yield surging to a remarkable 16-year high, Yen
Our weekly roundup of news from East Asia curates the industry’s most important developments. JPEX scandal grows to over $166M Last week’s Token2049 conference in Singapore was a life-changing experience for some; for others the event did not meet expectations, but for a select group of individuals, the imminent prospect of being pursued by law
Share: AUD/NZD is seeing extended declines, continuing Wednesday’s backslide. Aussie is reaching lower against the Kiwi, down 0.95% for the week. Australian PMI figures came in mixed with manufacturing seeing further declines. The AUD/NZD has broken out of recent consolidation on the weak side, and the pair shrugged off a mixed trade balance printing from
Crude oil trade between 100/200 hour moving averages The price of WTI crude futures are settling at $89.63. That’s down $0.03 or -0.03%. Technically looking at the hourly chart above, the price settlement is just above its 200-hour moving average at $89.57, and below its 100-hour moving average at $90.30. That puts the price in
Oil prices rebounded from $1 down to $1 up in trading on Thursday, after a Russian ban on fuel exports snapped focus away from Western economic headwinds and back to throttled crude supply to the end of 2023. Brent futures for November delivery were up $1.02, or 1.09%, to $94.55 a barrel by 1348 GMT.
The US House representatives lost the most recent rules vote on defense appropriations bill. House Speaker Kevin McCarthy is struggling to unite his Republican colleagues around a temporary funding bill to prevent a federal government shutdown at the end of the month. Despite ongoing negotiations, McCarthy is running out of options as the deadline approaches.
The currency markets faced significant shifts today, notably with Sterling and Swiss Franc, which are enduring considerable selloffs. Both BoE and SNB opted to maintain their current interest rates, prompting speculation that these institutions might have peaked in their tightening cycles. However, Australian Dollar bore the brunt of today’s market sentiment, emerging as the day’s
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT A customer carries an Olive Garden shopping bag in Pittsburg, California, US, on Friday, Dec. 9, 2022. David Paul Morris | Bloomberg | Getty Images Darden Restaurants on Thursday reported earnings and revenue that topped analysts’ expectations in its first quarter as the owner of Ruth’s
Share: The Euro adds to the weekly retracement against the US Dollar. Stocks in Europe accelerate their losses on Thursday. EUR/USD meets initial support around 1.0615. The USD Index (DXY) clings to its daily gains near 105.50. The Fed left the door open to another 25 bps rate hike before year-end. Weekly Initial Jobless Claims, Philly Fed
Yesterday, the Fed left interest rates unchanged at 5.25-5.50% as expected but revised its outlook on the more hawkish side. In fact, the Fed not only sees another rate hike by the end of the year but also much less rate cuts in 2024 as they revised it from 4.6% seen in June to 5.1%
Gold traded in the red on Thursday amid a stronger dollar index (DXY) which shot up to 105.63 against six major currencies, up 0.43% after US Federal Reserve Chair Jerome Powell hinted of another rate hike this year while maintaining that the high interest rate regime is there to stay longer. The MCX October gold
EUR/USD daily chart The fact that the Fed managed to convince markets that they can stick with the narrative of higher rates for longer is a win in itself for the dollar. I mean, if you look elsewhere, the case is definitely less compelling for the likes of the ECB and BOE should the latter
Fed’s decisively hawkish stance overnight propelled both Dollar and yields upwards, albeit dampening the stock market. Majority of FOMC members maintained projections of another interest rate hike within the year, with a tempered pace of rate cuts anticipated for the forthcoming year. Fed’s message resounded in the markets as we witnessed a significant leap in
Adult content creators have continued to shift towards decentralized versions of OnlyFans and Patreon, after recent payment difficulties and the ever-present threat of being de-platformed. Leon Lee, founder and CEO of Only1 — a decentralized version of OnlyFans — tells Cointelegraph there has been a recent power shift from intermediaries to content creators, thanks to
Share: NZD/USD edges higher to 0.5940 after an upbeat growth number. The Federal Reserve (Fed) maintained interest rates unchanged at 5.25-5.50% range at its September meeting. New Zealand economy expanded 0.9% in Q2 vs. 0% in Q1. The NZD/USD pair recovers its recent losses around 0.5937 during the early Asian session on Thursday. The US Dollar
The initial reactions in the market were for the US dollar to move higher, yields to move higher, and stocks to move lower. EURUSD: The EURUSD moved from around 1.0725 through the 200 hour moving average 1.0702 and down to the 100 hour moving average 1.06749. The low price reached just below the 100-hour moving
Gold was little changed on Wednesday as investors braced for updated interest rate projections and remarks from Chair Jerome Powell following the Federal Reserve‘s monetary policy meeting. Spot gold was steady at $1,931.20 per ounce at 1127 GMT, holding below its highest level since Sept. 5 reached on Tuesday. U.S. gold futures eased 0.1% to
The major European stock indices are closing higher on the day. The indices are encouraged by the lower than expected UK CPI inflation data today. That has traders paring back expectations for the BOE rate hike tomorrow. The expectations are now 50-50 for a rate hike. The final numbers are showing: German DaX +110.66 points