USDCHF retraces the February run higher. The USDCHF moved sharply lower yesterday with the pair reaching to a low of 0.90706. That was within about 12 pips of the low from early February at 0.90586. Just last week the USCHF was testing the highs (and the 100 day MA as well). The move from the
The Cleveland Fed does some of the math on the US CPI print to offer a picture of underlying inflation and it continues to be problematic. median CPI +0.6% m/m vs +0.7% prior 16% trimmed mean +0.5% vs +0.6% prior Median y/y 7.2% vs 7.1% prior 16% trimmed mean +6.5% vs +6.6% prior At least
Inflation rose in February but was in line with expectations, likely keeping the Federal Reserve on track for another interest rate hike next week despite recent banking industry turmoil. The consumer price index increased 0.4% for the month, putting the annual inflation rate at 6%, the Labor Department reported Tuesday. Both readings were exactly in
In this article UAL Follow your favorite stocksCREATE FREE ACCOUNT A grounds crew member directs an United Airlines airplane to a gate at Terminal A at Newark Liberty International Airport (EWR) in Newark, New Jersey, US, on Thursday, Jan. 12, 2023. Aristide Economopoulos | Bloomberg | Getty Images United Airlines shares fell about 4% on
Share: US inflation remains stubbornly high. With core prices rising at an accelerated pace of 0.5% in February, terminal pricing has moved higher. The repricing in terminal has hit CHF and JPY right off the bat, but the move is set to be short-lived, economists at TD Securities report. Market will place more weighting on
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Gold prices climbed Rs 480 to Rs 57,380 per 10 grams in the national capital on Tuesday amid strong global trends, according to HDFC Securities. The precious metal had ended at Rs 56,900 per 10 grams in the previous trade. Silver also zoomed Rs 2,150 to Rs 66,900 per kg. “Spot gold price in the
Investors are eagerly awaiting the release of February US CPI figures today, although the banking crisis has overshadowed the event. The possibility of a 50bps hike by Fed next week has been priced out by the market. While traders still anticipate a 25bps hike, with a likelihood of over 70% as indicated in the fed
The major European stock indices are closing sharply lower. The major indices could not dodge the bullet that the US indices are seemingly getting through despite the fact that the focus of the banking crisis is a centered in the US. However, these types of things always have the potential to spread. Moreover the European
2-year Treasury yields are seen up 15 bps today to 4.17%, keeping a bounce off the 4% mark seen yesterday. In the past three sessions alone stretching back to Thursday, 2-year yields were sent down by a whopping 103 bps. If that continued, perhaps it would’ve saved SVB. Jokes of course. 🤣 The exhale in
Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Semiannual Monetary Policy Report to the Congress, in Hart Building on Tuesday, March 7, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images When the Federal Reserve starts to raise interest rates, it generally keeps doing
In this article GTLB Follow your favorite stocksCREATE FREE ACCOUNT People celebrate the Gitlab IPO at the Nasdaq, October 14, 2021. Source: Nasdaq GitLab shares plunged as much as 38% in extended trading after the provider of source code management software gave full-year revenue guidance that fell short of expectations. Here’s how the company did:
Share: USD/CAD clings to mild gains after bouncing off short-term key technical supports. Convergence of 50-SMA, one-month-old ascending trend line restricts immediate downside. Horizontal area comprising early January lows adds to the downside filters. Descending resistance line from Friday, bearish MACD signals challenge Loonie pair buyers. USD/CAD bulls struggle to keep the latest rebound from
Big Tech firm Meta is scrapping its nonfungible token features across its social media platforms, Facebook and Instagram, around 10 months after they first launched. Stephane Kasriel, Meta’s head of commerce and financial technologies, tweeted the news on March 13, saying Meta is “winding down” its NFT support to “focus on other ways to support
Oil prices fell $2 in volatile trading on Monday as the collapse of Silicon Valley Bank hit equities markets and raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures were down $2.03, or 2.5%, to $80.75 per barrel by 1401 GMT. West Texas Intermediate U.S. crude
Mixed market sentiment prevails in the Asian session today, as Nikkei is weighed down by selloff in bank stocks, while Hong Kong’s HSI sees a recovery. US futures are also seeing a strong rebound. The announcement of measures by the US government and Fed to stabilize the situation surrounding the collapse of Silicon Valley Bank