Trading in the European session has been relatively muted, with the primary contributor to the quietness being a notably thin economic calendar. Euro experienced a mild dip following European Commission’s downgrade of growth projections for Eurozone for the current year and next. While Euro displayed pronounced weakness against commodity-linked currencies, its descent was restricted against
Choochart Choochaikupt | Istock | Getty Images American consumers are worried about access to credit amid persistently higher interest rates and tighter standards at banks, according to a New York Federal Reserve survey released Monday. Respondents indicating that the ability to get loans, credit cards and mortgages is harder now than it was a year
Share: USD/CAD is trading near the 1.3600 mark, above the key 100-hour EMA. Relative Strength Index (RSI) stands in the bearish territory below 50. 1.3650 will be the immediate resistance level; 1.3575 acts as an initial support level. The USD/CAD pair loses traction and hovers around the 1.3600 mark during the early European session on
Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the Dow Jones. The market pricing for future interest rates expectations turned a little bit more hawkish with basically a 50/50 chance of another hike in November and less rates cuts in 2024. Last week we got a
Gold traded with gains on Monday amid a weak dollar index which was down 0.35% at 104.75 against a basket of six top currencies. The MCX October gold futures were trading up by Rs 52 or 0.09% from the Friday closing price at Rs 58,950 per 10 gram on the MCX while the December Silver
USD/JPY is down 0.9% or a little over 130 pips on the day, to around 146.40 levels currently. It comes after a marked gap lower in the pair following BOJ governor Ueda’s remarks on a “stealth exit” from the current ultra easy monetary policy. In the big picture though, it’s not that big a blow
Bitcoin (BTC) traded in a narrow range this week and is on target to form the third consecutive Doji candlestick pattern on the weekly chart. The cryptocurrency markets did not receive any support from the United States equities markets, which ended the week on a negative note. The S&P 500 Index dropped 1.3% while the
Share: XAU/USD closed the week with a 1% weekly decline above the convergence of the 20 and 200-day SMAs. US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US. At the end of the week, the XAU/USD traded with mild losses, around
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US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data
Crude oil prices clocked at a ten-month high last week, driven by worries about supply shortages after an unexpected extension of voluntary supply cuts by Saudi Arabia and Russia. Hopes of a delay in further rate hikes by the US Federal Reserve and positive fuel demand from China aided the demand outlook. The most active
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UPCOMING EVENTS: Tuesday: UK Labour Market report, German ZEW, US NFIB Small Business Optimism Index. Wednesday: Japan PPI, UK GDP, EZ Industrial Production, US CPI. Thursday: Australia Labour Market report, Japan Industrial Production, Switzerland PPI, ECB Policy Decision, US Jobless Claims, US PPI, US Retail Sales. Friday: NZ Manufacturing PMI, China Industrial Production and Retail
Share: S&P 500 closed up 0.14% at 4,457.49 on Friday but lost 1.13% for the week, reflecting investor caution amid global economic uncertainties. US economic data shows resilience with solid service sector activity and tight labor market, contrasting with gloomy outlooks in China and Europe. US Treasury bond yields advance to 4.268% on 10-year note,
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly solid. Overall, the economic data
Gold prices faced downward pressure throughout the week due to encouraging US economic data, with the upcoming focus on the Consumer Price Index (CPI) developments in the coming week. This resulted in gold experiencing its first weekly decline in three weeks. The US 10-year treasury note yield climbed towards 4.3%, supported by a surprising drop
Markets: Gold flat at $1918 US 10-year yields flat at 4.26% WTI crude oil down 48-cents to $87.35 S&P 500 up 0.2% CAD leads, JPY lags The euro ends the day flat but it certainly wasn’t quiet as some hawkish ECB sources reports ahead of next week’s meeting, along with some lumpy flows led to