The NZDUSD is trading to a new low for the week and in doing so to the lowest level since the end of June/beginning of July. The price is also below the 50% midpoint of the move up from the 2022 low to the 2023 high at 0.6024. Stay below is more bearish. The next
World oil demand hit a record 103 mil bpd in June August could yet see another peak in demand 2024 global oil demand growth forecast revised down to 1 mil bpd (previously 1.15 mil bpd) If OPEC+ current targets are maintained, oil inventories could draw by 2.2 mil bpd in Q3 an 1.2 mil bpd
British Pound is showing notable strength in early European session today, buoyed by more robust than anticipated monthly and quarterly GDP figures. While the quarterly GDP has not yet bounced back to its pre-pandemic stature, the positive numbers come as a boon to BoE. This development supports the expectation that the BoE will maintain its
Jim O’Neill, former chief economist Goldman Sachs Group, in Italy in 2019. Alessia Pierdomenico | Bloomberg via Getty Images Veteran economist Jim O’Neill says central banks will need to keep interest rates up around 5% across major economies for longer than the market expects, even as inflation subsides. The U.S. Federal Reserve is broadly expected
In this article BABA BABA Follow your favorite stocksCREATE FREE ACCOUNT Alibaba Group sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. Aly Song | Reuters Chinese e-commerce giant Alibaba on Thursday reported revenue grew by 14% year-on-year in the quarter ended June 30. The company’s U.S.-traded shares
Share: Thursday’s mixed inflation data from the United States pleased a slew of Federal Reserve (Fed) policymakers but their tone appears slightly cautious. Firstly, Philadelphia Federal Reserve Bank President Patrick Harker crossed wires, via Reuters, and appeared supportive of the US central bank’s victory while marking the progress on inflation. However, the policymaker also anticipated a minor
– Gold prices hovered near one-month lows on Thursday, as investors braced for the make-or-break U.S. inflation data that would shape the Federal Reserve‘s upcoming interest rate decisions. FUNDAMENTALS * Spot gold was steady at $1,916.19 per ounce by 0123 GMT, a few dollars away from its lowest level since July 10 hit on Wednesday.
The AUDUSD sellers are near lows for August and also below a key swing area on the daily chart going back to September 2022. That puts the sellers in firm control. What might tilt the short term bias back to the upside today? Conversely, what would increase the bearish bias if the sellers continue to
US major indices gave up most of their gains and closed near(er) the lows for the day. There was a spike at the open on the back of the CPI data, but rates started to move higher with the 2-year now up 4.6 basis points, the 10-year up 9.9 basis points, and the 30-year up
Despite an initial dip in Dollar after release of US consumer inflation data, the greenback has shown resilience against further selling pressures. The CPI figures, aligning with market predictions, bolster the possibility of Fed maintaining its current interest rates this September. However, several key considerations remain. Firstly, another round of inflation and employment data will
The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy. Prices accelerated 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. However, the annual rate was slightly below
BEIJING, CHINA – DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images) Vcg | Visual China Group | Getty Images Semiconductor Manufacturing International Corp. posted on Thursday a drop in second-quarter revenue against
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The citizens of India might get an option to sign documents digitally through crypto tokens. Such feature is envisaged in the project of national web browser, cherished by the Ministry of Electronics & Information Technology (MeitY). On August 9 MeitY announced the launch of Indian web browser Development Challenge. The Ministry hopes to “inspire and
Share: USD/CAD is little changed on the session so far. Economists at Scotiabank analyze the pair’s outlook. Evidence of firm support on dips below the 1.34 area There is a modest, downside bias in spot trends on the intraday chart but there is also evidence of firm support on dips below the 1.34 area. The
Gold traded with weakness in the early trade on Thursday ahead of the US inflation data. The anticipation of the CPI numbers has kept the movement rangebound. The dollar index (DXY) was hovering over the 102 mark against a basket of six major currencies, though the bias was slightly negative. Meanwhile, from the Indian standpoint,