EUR/USD daily chart This was perhaps coming after the troubling end to last week for EUR/USD, as outlined on Monday here. With the dollar maintaining decent form through this week, the pair is now slipping closer towards its 100-day moving average (red line) – seen at 1.0806. That alongside bids layered at the 1.0800 mark
Market sentiment received a significant boost following upbeat news about US debt ceiling negotiations, and yet, Dollar remains resilient, showcasing an impressive strength. US President Joe Biden, following a meeting with Republican House Speaker Kevin McCarthy, presented an air of optimism as discussions continue. “Now we have a structure to find a way to come
A sign displays the price in pound sterling of food goods, including cucumbers, at a a fruit and vegetable market in stall east London on March 31, 2023. Susannah Ireland | Afp | Getty Images LONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey says the U.K. is now
In this article WMT Follow your favorite stocksCREATE FREE ACCOUNT A Walmart in Atlanta, Georgia, on Sunday, Feb. 19, 2023. Dustin Chambers | Bloomberg | Getty Images Walmart will report fiscal first-quarter earnings before the bell on Thursday, after Home Depot and Target said shoppers have pulled back on big-ticket items and discretionary purchases. Here’s
Share: Upside in Oil remains amid an undersupplied market, according to strategists at UBS. Several main reasons to expect the Oil market to be under supplied in coming months “We now see the Brent price reaching $95 a barrel by the end of this year, down from our previous forecast of $105/bbl, as we expect
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Gold prices retreated on Wednesday as the dollar advanced after comments from U.S. Federal Reserve officials cast doubts over interest rate cuts this year. Spot gold dropped 0.7% to $1,975.70 per ounce by 10:03 a.m. ET (1403 GMT), its lowest since April 27. U.S. gold futures fell 0.5% to $1,983.90. The dollar’s jump, in part
The USDCAD has been moving up and down in recent trade including today. However, the price has seen the pair from the high move below the 100 day MA, the 100 hour MA, the 200 day MA but has been able to find support buyers at the 200 hour MA. Can the last MA now
A note from PIMCO public policy analysts says this on the debt deilinb stad off: “We think a deal – or a framework of a deal – is right around the corner – and likely in days, not weeks. However, like all negotiations, there is a chance that we could see them die before they
Market sentiment continue to flip-flop on flowing headlines regarding US debt ceiling negotiations. But then, it should be remembered that it’s not done until it’s done. So uncertainties and volatility still lie ahead. Yen is the consistent one extending its near term decline. Commodity currencies are rebounding with Sterling. But the more important development is
Chinese tech giant Tencent released quarterly results Wednesday. Nurphoto | Nurphoto | Getty Images Tencent reported an 11% jump in first-quarter revenue on Wednesday, marking the fastest growth in more than a year. Here’s how Tencent did in the first quarter, versus Refinitiv consensus estimates: Revenue: 150 billion Chinese yuan ($21.4 billion) vs. 146.09 billion yuan
Share: Wall Street stocks rally on optimism in earnings and the debt ceiling outlook. US500 index is tracking higher towards key resistance area. US stock indexes rose on Wednesday and the S&P 500 was up 43 points, or 1.07%%, at 4,153 at the time of writing. The index made a high of 4,164.67 on the day, rising from
In its latest futures-based exchange-traded funds (ETF) filing, Valkyrie Funds utilizes one of the popular memes from the financial Twitter community, known as “fintwit,” to capture attention and interest. On May 16, the investment firm submitted a new application for a Bitcoin futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“ Both of Valkyrie’s
MCX Gold futures edged higher on Tuesday as the fears around US default rose amid debt ceiling crisis. The June Gold futures were trading at Rs 60,387 per 10 grams, up by Rs 143 or 0.24% in the early trade. Meanwhile July Silver futures were also in the green at Rs 72,668 per kg, up
USDCNH trades to a new 2023 high The offshore yuan (CNH) has hit a new low for 2023, with the USDCNH reaching a high of 6.9981, surpassing the previous high of 6.9951 from March 8. This movement was partly influenced by overnight economic data from China, which painted a concerning picture of a slowing economic
Prior +6.9% Core CPI +5.6% vs +5.6% y/y prelim Prior +5.7% No changes to the initial estimates as headline annual inflation did tick a little higher while core annual inflation was marginally lower in April compared to March. This still just helps to reaffirm the ongoing ECB narrative though, so carry on as you will.
Clear direction is yet to be established in the forex markets this week, with the exception of Yen’s continued depreciation, albeit at a slow pace. Canadian Dollar’s rally, spurred by CPI data, was abruptly halted due to worsening risk sentiment, marked by DOW’s over -330pts drop. US Treasury Secretary Janet Yellen amplified her warning about