The price of WTI crude oil futures is settling at $67.70 today. That is down $-1.67 or -2.41%. The low price reached $67.55. The high price was at $70.15. Current economic projections lean toward the potential for recessions in the US (and other global economies) and that has traders worried about the demand-side. That view
Markets: Gold down $9 to $1913 US 10-year yields up 4.7 bps to 3.77% WTI crude oil down $1.57 to $67.79 S&P 500 up 44 points, or 1.0%, to 4415 Nasdaq up 1.6% EUR leads, JPY lags US economic data continued to impress, burying inflation fears. The market was in the mood to listen to
Gold prices were flat on Tuesday, hovering slightly above their three-month lows, while the U.S. dollar strengthened as traders looked to hedge against a political turmoil in Russia and the Federal Reserve’s hawkish outlook. FUNDAMENTALS * Spot gold held its ground at $1,923.94 per ounce by 0114 GMT, while U.S. gold futures were also listless
In today’s trading, Euro takes the limelight, soaring broadly and reaching new heights against the frail Yen. While comments from ECB officials continued to be hawkish, there was basically nothing substantially new. The rationale propelling the shared currency is yet unclear. Following closely behind, Aussie and Kiwi mark themselves as the second and third strongest,
Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty Images The U.S. will enter a downturn in the fourth quarter, followed by a “year of contraction and a European recession in 2024,” according to HSBC Asset Management. In its
In this article WBA Follow your favorite stocksCREATE FREE ACCOUNT People make their way near a Walgreens pharmacy on March 09, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images Walgreens on Tuesday slashed its full-year earnings guidance as it fell short of Wall Street expectations for its fiscal third quarter
ARK Investment Management, a pro-Bitcoin (BTC) firm founded by veteran investor Cathie Wood, is reportedly ahead in the race for a spot BTC exchange-traded fund. In mid-June, the investment firm BlackRock filed an application for a spot Bitcoin ETF, triggering notable optimism on cryptocurrency markets. A number of reports suggested that BlackRock could become the
Share: Today’s inflation data in Canada will be key to driving market expectations for the BoC’s July decision. Economists at ING analyze CAD outlook. Inflation numbers in focus Consensus is looking for a rather substantial slowdown in headline inflation from 4.4% to 3.4%, while the core measure should decelerate to around 4.0%. We are still
Throughout the previous week, we got many insights from various central bank speakers. The prevailing consensus is that awaiting additional data will help to assess the extent of further tightening. While the majority of the FOMC expects two more rate hikes this year, they consistently stress that this decision hinges on the data. The data
The risk mood is calmer on the day but investors are still understandably cautious after the selling from last week. Stocks in Europe have pared gains somewhat after the opening hour and that is not leaving FX traders with much to work with. EUR/USD is up 0.3% to 1.0940 as the euro stays buoyed after
Bullion traded in the green in Tuesday’s early trade aided by a weaker dollar. The dollar index was down nearly 0.10%. witnessing its second successive decline, thereby raising the appeal for the yellow metal. The August Gold futures were trading at Rs 58,521 per 10 grams at 10:10 am, up Rs 105 or 0.19% from
In an otherwise lackluster Asian trading session, Chinese actions add a zing today. The rebound in Yuan, propelled by China’s stepped-up measures to curb its slide, provided a boost to stock markets in both China and Hong Kong. The ripple effects are also being felt by Aussie and Kiwi, which are witnessing a bounce. Canadian
Gita Gopinath, first deputy managing director of International Monetary Fund (IMF), spoke to CNBC at the ECB Forum in Portugal. Bloomberg | Bloomberg | Getty Images Major central banks will have to keep interest rates high for much longer than some investors expect, Gita Gopinath, first deputy managing director of the International Monetary Fund, told
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Share: AUD/USD stays defensive at the lowest levels in 13 days, grinds higher of late. US Dollar’s struggle to keep the buyers on board prod Aussie pair sellers. Upbeat US data, light calendar elsewhere joins mixed catalysts to restrict AUD/USD moves. US Durable Goods Orders, headlines surrounding China, Russia can entertain traders. AUD/USD skates on
USDCHF approaches 100/200 hour moving averages The USDCHF is moving to new US session highs (still down on the day), and in the process is moving closer to its falling 100 and 200 hour moving average is near 0.89585. The price is currently trading at 0.8955. Earlier today, the price tested the higher 200-hour moving