Asian markets are trading in positive mood today, even though US stocks were unmoved by FOMC’s rate hike overnight. Fed Chair Jerome Powell was predictably non-committal regarding next policy decision. But investors appear content to go along with the prevailing trend. Meanwhile, this upbeat sentiment is giving a notable boost to commodity currencies, with Australian
The U.S. economy showed few signs of recession in the second quarter, as gross domestic product grew at a faster than expected pace during the period, the Commerce Department reported Thursday. GDP, the sum of all goods and services activity, increased at a 2.4% annualized rate for the April-through-June period, better than the 2% consensus
In this article F Follow your favorite stocksCREATE FREE ACCOUNT Ford Mustang on display at the NY Auto Show, April 6, 2023. Scott Mlyn | CNBC DETROIT – Ford Motor is reporting second-quarter earnings after the markets close Thursday. The Detroit automaker is expected to report solid results, but not as strong as the $1.91
Share: GBP/JPY sells-off on BoJ sentiment ahead of Friday’s meeting. GBP/JPY drops into a potentially strong area of support in the 177.70/90s as per the hourly structure. Bears also eye the Point of Control near 177.00 and then a swing support area at 176.50. GBP/JPY collapses on a strong hint from Nikkei news that the
Gold price jumped Rs 250 to Rs 60,600 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,350 per 10 grams. Silver also zoomed Rs 900 to Rs 77,900 per kilogramme. Gold advanced on Thursday, with
The USDCAD is being pushed and pulled by fundamentals today. On the positive side for the Canadian dollar, oil prices are higher with the price of WTI crude oil extending above $80 for the 1st time since April. That is bullish for the CAD (bearish for the USDCAD). On the negative side for the CAD,
> U.S. Treasury auctions office 7 year note at a high yield of 4.087% WI level at the time of the auction was 4.074% High-yield 4.087% WI level 4.064% Tail 1.3 basis points versus 6-month average of 0.0 basis points Bid to cover 2.48X versus 6 month average of 2.54X Directs 15.9% versus 6 month
Euro turns weaker after ECB’s expected rate hike. Downside momentum is also picking up when ECB President Christine Lagarde indicated that even minor alterations in the statement’s phrasing were intentional. ECB has shifted its wording from interest rates “will be brought to” to will be “set” at a sufficiently restrictive level, providing a basis to
Turkish Central Bank Governor Hafize Gaye Erkan answers questions during a news conference for the Inflation Report 2023-III in Ankara, Turkey on July 27, 2023. Anadolu Agency | Anadolu Agency | Getty Images Turkey’s central bank expects inflation to hit 58% by the end of 2023, its new governor Hafize Gaye Erkan said in her
In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT The Comcast NBCUniversal building in Universal City, California, on May 2, 2023. Robyn Beck | AFP | Getty Images Comcast beat analyst estimates on Thursday when it reported its second quarter results, as higher pricing helped offset a continued slowdown in its broadband business. The
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Bitcoin (BTC) is facing the prospect of a “big bull move” as stablecoin buying power returns, on-chain data hints. Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns. “Major leading indicator” flips bullish for BTC price Bitcoin is in peak accumulation mode, according to CryptoQuant’s Stablecoins Ratio
Share: Silver scales higher for the third straight day and climbs to a fresh weekly high on Thursday. The technical setup seems tilted in favour of bulls and supports prospects for further gains. A sustained break below the $24.00 mark is needed to negate the near-term positive bias. Silver gains strong follow-through positive traction for
Gold prices held near their highest levels in a week in early Asian trading on Thursday after the U.S. Federal Reserve delivered a widely expected interest rate hike and investors digested fairly balanced comments from Chair Jerome Powell. FUNDAMENTALS * Spot gold was up 0.2% at $1,975.05 per ounce by 0114 GMT, its highest since
EURUSD: The EUSUSD remains above its 50% midpoint of the July trading range. That level comes in at 1.10539. The New York (and London session) held that midpoint level. The Asian session mostly traded below the midpoint level. On the top side, the falling 100-hour moving average comes in at 1.10895. Moving above it would
The dollar is softer in the aftermath of the FOMC meeting yesterday, as it appears we might have seen the last rate hike come in by the Fed. I shared some added thoughts on that here. As much as the dollar is lower, it’s not that bad as this just mostly eats into the rebound