Dollar rebounds strongly and broadly in early US session after a set of stellar job data that blows past expectations. Stock futures dive on renewed concern that interest rate will stay high for lower while benchmark treasury yield rebounds. The question now is whether the greenback could overwhelm Yen and Swiss Franc to end the
The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in
> Technical Analysis > The strong US jobs report sent the US dollar sharply higher. What next? Technical Analysis A technical look at the EURUSD, USDJPY, GBPUSD and USDCHF in the morning forex technical report ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT –
ISM Non Manufacturing index Nonmanufacturing PMI index 55.2 versus 50.4 estimate. Prior month 49.2 nonmanufacturing business activity index 60.4 versus 54.5 estimate. Prior month 53.5 employment index 50.0 versus 49.4 last month new orders index 60.4 versus 45.2 last month prices paid index 67.8 versus 68.1 last month new export orders 59.0 versus 47.7 last
The U.S. economy added far more jobs than expected in January, boosted by a jump in leisure and hospitality employment. That one service sector saw an increase of 128,000 jobs in the month, led by 99,000 positions at restaurants and bars alone, the Bureau of Labor Statistics said in a report released Friday. Employment at hotels continued to
In this article GOOGL GOOG Follow your favorite stocksCREATE FREE ACCOUNT Alphabet missed on both top and bottom lines when it reported fourth quarter earnings after the bell Thursday. The company’s stock dropped nearly 4% after hours, erasing some of the 7.28% it gained in normal trading hours. Here’s how the numbers stacked up: Earnings
Gold prices ticked up on Friday as markets digested recent comments from Federal Reserve Chair Jerome Powell, but the precious metal was headed for its biggest weekly fall since November after a 2% drop in the previous session. FUNDAMENTALS * Spot gold rose 0.2% to $1,916.34 per ounce by 0042 GMT, after shedding 2% in
Yen is stealing the show in the week of heavy weight events, powering up broadly with help of broad based decline in US and European treasury yields. Swiss Franc is following together with Euro while Dollar is just mixed. On the other hand, Sterling is the worst perform despite BoE rate hike, followed by Aussie
The Dollar has essentially erased all the post-FOMC losses. But today’s Nonfarm Payrolls release in the US brings mostly downside risks for the Dollar, in the view of economists at ING. Downside risks from data today “With volatility abating after the key Fed and ECB announcements and some of those defensive trades being unwound, today’s
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USDCAD stalls at the 200 hour MA and rotates lower The USDCAD moved higher in early North American trading today, and in the process the price moved up to test it’s 200 hour moving average . The 200 hour moving average (green line in the chart above) comes in a 1.33477. The high price reached
China Caixin / S&P Global Services PMI for January, comes in at 52.9, its first expansion in five months expected 51.6, prior 48.0 Composite 51.1 prior 48.3 From the commentary accompanying the data, in summary Both services supply and demand moved into expansion. The gauges for business activity and total new business both came in
In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Apple missed expectations for revenue, profit, and sales for many of its lines of business on Thursday, sending the stock lower in extended trading. Apple’s overall sales for the holiday quarter were about 5% lower than last year’s, the first year-over-year sales decline since 2019.
Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the
Gold price rallied Rs 770 to a record high of Rs 58,680 per 10 grams in the national capital on Thursday amid a jump in precious metal prices internationally, according to Securities. In the previous trade, the yellow metal had settled at Rs 57,910 per 10 grams. Silver also zoomed Rs 1,491 to Rs 71,666
Euro retreats notably even after ECB hikes 50bps and expresses the intention to do the same in March. Sterling is also trading lower after BoE hikes by 50bps as expected. Yen is currently the stronger one with help from extended fall in US and European benchmark treasury yields. Dollar, on the other hand, has turned