Sterling is performing strongly after the release of stronger than expected UK CPI data, indicating a rise in inflation rather than a slow-down in February. As a result, it is highly likely that the BoE will hike interest rates by another 25bps during their meeting tomorrow. However, there is now speculation on whether there will
The NZD is the weakest of the major currencies The NZD is currently the weakest among major currencies, with the NZDUSD pair trending downwards, down by 1.15% for the day. Consequently, various technical levels have been successively breached. The NZDUSD has moved below a number of technical levels Observing the hourly chart above, the price
Prior +10.1% CPI +1.1% vs+0.6% m/m expected Prior -0.6% Core CPI +6.2% vs +5.7% y/y expected Prior +5.8% Core CPI +1.2% vs +0.8% m/m expected Prior -0.9% This is not going to make the BOE’s task any easier going into their policy decision later this week. Markets are anticipating that the central bank will hike
In this article NKE Follow your favorite stocksCREATE FREE ACCOUNT People wearing protective face masks walk past the closed Nike store on 5th Avenue, during the outbreak of the coronavirus disease (COVID-19), in New York City, May 11, 2020. Mike Segar | Reuters Nike beat Wall Street’s expectations for its fiscal third-quarter earnings and revenue,
Share: The UK CPIs Overview The cost of living in the UK as represented by the Consumer Price Index (CPI) for February month is due early on Wednesday at 07:00 GMT. Given the recently released mixed employment data, coupled with the firmer economic activity numbers and the doubts over the Bank of England’s (BOE) next
If the United States government really is implementing “Operation Choke Point 2.0” it will hurt financial stability and may have contributed to the collapse of Silicon Valley Bank (SVB) according to Donald Trump’s former Acting White House Chief of Staff, Mick Mulvaney. “I don’t want to think that the government would actually do that,” Mulvaney
Gold prices edged higher on Wednesday as the dollar eased, while investors kept a close watch on the U.S. Federal Reserve’s interest rate decision and policy outlook. FUNDAMENTALS * Spot gold was up 0.2% at $1,942.96 per ounce, as of 0036 GMT. U.S. gold futures firmed 0.3% to $1,946.20. * Gold prices dropped about 2%
Australian Dollar is declining broadly as RBA minutes hinted at the possibility of a pause during their next meeting. Meanwhile, Yen has managed to hold on to the some gains it made earlier this week and appears poised for further rallying, particularly against commodity-based currencies. Both Euro and Sterling have maintained their strength after being
WTI crude oil futures is settling at $69.33, up $1.69 or 2.55% on the day, marking the largest daily increase since February 7, 2023. Today’s high reached $69.77, while the low extended to $66.90. Examining the daily chart, the next upside target is the swing low from December 2022, which stands at $70.08. Upon breaking
The US Treasury sold $20 billion in 20-year bonds at 3.909% compared to 3.906% in the WI market ahead of the sale. That’s slightly less demand than anticipated but there hasn’t been any additional selling in the bond market since. Note though that yields remain near the highs of the day after a dip midway
Share: Gold price drops on risk-appetite improvement, and US Treasury bond yields rising. US Treasury bond yields rise, with 10-year TIPS, a proxy for real yields advancing above 1.30%. The Federal Reserve will commence its two-day monetary policy meeting, expected to deliver a 25 bps rate increase. Gold price is tumbling across the board, down
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Gold price plunged by Rs 470 to Rs 59,480 per 10 grams in the national capital on Tuesday amid weak global trends, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 59,950 per 10 grams. Silver also declined Rs 420 to Rs 68,550 per kilogramme. “Spot gold prices in
Euro rises broadly today partly as overall sentiment stabilized. Technical also play a role as the common currency defended near term support levels against both Sterling and Aussie. Poor Germany economic sentiment data was basically ignored by the markets. Market participants appeared to dismiss the poor economic sentiment data from Germany, with the belief that
NZDUSD close above the 100 day MA on Friday. Not today. The NZDUSD closed above it’s 100 day MA on Friday (blue line in the chart above). The MA was at 0.6260. The close was at 0.62636 just a few pips above the MA level. The buyers had tried to move above that moving average
It’s still all about market sentiment and the headlines as we get stuck into the new day. The general line of thinking is that the longer we don’t get any negative news or more banking troubles, the better it will be for markets and risk trades. That said, the prospect of the Fed looms large