GBP/USD is expected to continue its downside journey to near 1.2200 as focus shifts to US NFP data. To tame double-digit inflation, the BOE pushed interest rates by 50 bps to 4%. Investors will keep an eye on US Average Hourly Earnings data for further guidance. The GBP/USD pair has shown a vertical sell-off to
The major US stock indices are opening with gains as markets digest central-bank rate hikes. The NASDAQ index leads the way once again. The last two trading days have seen a rise of 1.67% on Tuesday and 2.0% yesterday. At the open, the NASDAQ index is up another 1.98% %. The gains are being helped
As the Lagarde press conference continues, the major US stock indices are continuing their run to the upside. The premarket levels are implying: Dow Industrial Average up 45 points S&P index up 40 points NASDAQ index up 250 points. Yesterday the NASDAQ index surged by 231.77 points or 2.0%. In the US debt market, yields
In this article RACE RACE-IT Follow your favorite stocksCREATE FREE ACCOUNT Ferrari CEO Benedetto Vigna poses for a photograph as Ferrari unveils a new long term strategy, in Maranello, Italy, June 15, 2022. Flavio Lo Scalzo | Reuters Ferrari on Thursday reported full-year profits up 13% year over year and guided to an even stronger
Gold prices moved higher on Thursday to touch an all-time high after the Federal Reserve raised interest rates by an expected 25 basis points and Fed Chair Jerome Powell’s comments were read as dovish by the market. On Thursday, gold prices rose 1.33% or Rs 775 to trade at Rs 58,660 on . Analysts also
Dollar weakened broadly overnight, more on risk-on sentiment than FOMC rate decision. Yet, selloff was not particularly fierce except versus Euro and Swiss Franc. In particular, Sterling is clearly lagging behind. Judging from the upside breakout in EUR/GBP, traders are probably guarding against the possibility of a dovish twist in BoE today. As for the
EUR/USD registered impressive gains and climbed above 1.1000 for the first time since early April. Economists at ING ntoe that there is a clear path toward the 1.12 level. The EUR/USD story is positive “A sharp narrowing in rate differentials stands to become a bigger driver of EUR/USD this year and should carry it to
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The benchmark 10 year yield in the US is moving closer to its rising 200 day moving average (see green line in the chart below). Recall from January 19, the yield moved down to a low of 3.321%. The 200 day moving average was at 3.331% on that day. Momentum could not be sustained to
The IMF has revised its global economic outlook upwards. Norberto Duarte | Afp | Getty Images The International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and Russia’s invasion of Ukraine would likely still weigh on activity. In its latest economic update, the IMF
In this article META Follow your favorite stocksCREATE FREE ACCOUNT Meta shares popped in extended trading on Wednesday after the company reported fourth-quarter revenue that topped estimates and announced a $40 billion stock buyback. Here are the results. Earnings: $1.76 per share Revenue: $32.17 billion vs $31.53 billion expected, according to Refinitiv The company also reported
Gold prices were little changed in early Asian trading on Wednesday, as investors refrained from taking big bets ahead of the U.S. Federal Reserve’s interest rate-hike decision due later in the day. FUNDAMENTALS * Spot gold was almost flat at $1,927.42 per ounce, as of 0032 GMT. U.S. gold futures were down 0.2% at $1,941.90.
Dollar falls broadly after ADP job data missed expectations, while traders await FOMC rate decision. There is no doubt that Fed will hike interest rate by 25bps today and signals that tightening is not finished. The key questions about the terminal rate, and how long interest rate will stay there, will not be answered, at
Gold price jumps on dovish Federal Reserve tilt. The US Dollar drops as markets price in a pivot at the Federal Reserve. Gold price shot higher to a fresh bull cycle high on the back of the Federal Reserve’s dovish tilt that markets have priced in, smelling a ‘Fed-pivot’ around the corner, bullish for the
EURUSD trades higher after weaker ADP employment data The EURUSD is moving to a new session high after the weaker than expected ADP report. The pair is back above the 1.0900 level. The high price for Monday reached 1.09087. The high price from last week extended up to 1.09288 surpassing the January 23 high price
The OPEC monitoring committee met today. They have the ability to call for a full OPEC meeting but no one was expecting them to do that this month. They generally meet monthly but they’ve pushed the next get-together back until April so it’s steady-as-she goes for OPEC. The next big thing to watch is the