The USDCAD traded in a narrow band last week of about 120 pips. The price closed near the highs and above the 30.2% retracement of the July trading range at 1.3204. In trading today, the Asian-Pacific session saw the price initially moved to the upside but stall ahead of the high price from last Monday
Is genuine China stimulus finally coming? There has been a slow pivot in Chinese policy ongoing for the past two months but the market appeared to be frustrated with piecemeal offerings rather than broader stimulus. Inflation is low in China but policymakers have been trying to deflate real estate and move to a consumption-led economy,
Euro and British Pound face some downward pressure today, following dismal PMI data that raises concerns about the prospect of further economic contraction in Eurozone and UK. With the German Ifo business climate index on the horizon tomorrow and ECB rate decision due on Thursday, Euro is likely to face additional scrutiny. Meanwhile, Dollar seems
In this article CVX Follow your favorite stocksCREATE FREE ACCOUNT Cars drive past sign with logo at the entrance to the world headquarters of petroleum company Chevron in the Bishop Ranch office park in San Ramon, California. Smith Collection | Archive Photos | Getty Images Chevron on Sunday said the company’s Chief Financial Officer Pierre
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Former FTX CEO Sam Bankman-Fried has agreed to a gag order preventing him from making comments to third parties that may interfere with his trial — but argues other potential witnesses should be gagged as well, including current FTX CEO John Ray. The gag order against Sam Bankman-Fried was initially requested on July 20, when
Share: USD/CHF grinds near intraday high, reverses Friday’s U-turn from one-week high. CFTC data suggests bearish US Dollar bets jump to record high. US statistics flag fears of Fed policy pivot despite lifting greenback from 15-month low in the last week. First readings of US S&P Global PMIs for July will direct intraday moves, Fed
Bullion traded rangebound in the early morning session on Monday ahead of the crucial US Federal Reserve’s Federal Open Market Committee (FOMC) meeting which begins on Tuesday. The bias remained negative as the dollar index (DXY) was trading above the 101 mark. The August gold futures were trading in the red at Rs 59,220 per
The AUDUSD saw some up-and-down price action this week, with a ceiling near 0.6840 (there was a failed break on Thursday that was quickly reversed). In trading on today (on Friday), the price fell below the low from Wednesday’s trade and also the 50% midpoint of the move up from the July low to the
Major central bank decisions will take center stage this week but don’t discount the impact of the PMI data that we will see today. In the case of the Eurozone, this could play a role – alongside inflation data – to manage expectations for September. The yen is slightly higher today but the bulls were
In this article CVNA Follow your favorite stocksCREATE FREE ACCOUNT A Carvana glass tower sits illuminated in Oak Brook, Illinois, Feb. 23, 2022. Armando L. Sanchez | Tribune News Service | Getty Images Carvana has reached a deal with noteholders to reduce the used car retailer’s total debt outstanding by over $1.2 billion, the company
Share: S&P 500 corrective mode following TSLA, NFLX earnings and Thu manufacturing plus unemployment data, continued Friday – too early yet to call this correction as over as the encouraging open had been eventually sold into. It‘s all about Fed tightening bets meeting soft landing estimates. Well, what estimates I say when LEIs are still
The metal benefitted from the peak rate narrative being pushed by the markets as inflation readings in the US, Australia, New Zealand, and the UK came in short of forecast, which has given rise to a possibility of key central banks soon hitting a pause button in their rate hike mission aimed at reining in
WTI w 200dma The chart of WTI crude oil pretty much speaks for itself. Baker Hughes reported that US drillers cut rigs by 7 this week and with the inventory of drilled but uncompleted wells nearly zeroed out, there aren’t many taps to turn on. The message from the oil market is simply that $77
UPCOMING EVENTS: Monday: EZ-UK-US PMIs. Tuesday: US Consumer Confidence. Wednesday: Australia CPI, FOMC Policy Decision. Thursday: ECB Policy Decision, US Jobless Claims, US Q2 GDP. Friday: BoJ Policy Decision, US PCE, US ECI. Monday: The Eurozone Manufacturing PMI is expected to tick lower to 43.3 vs. 43.4 prior, while the Services PMI is seen at
In this article IBM Follow your favorite stocksCREATE FREE ACCOUNT IBM Chairman and CEO Arvind Krishna appears on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. Stefan Wermuth | Bloomberg | Getty Images IBM reported second-quarter earnings on Wednesday that topped analysts’ estimates as the company expanded its