Australian Dollar remains the strongest one for today, maintaining most of post-CPI gains. But Yen is catching up with broad based recovery. Euro softens despite improvement in German business climate, and Sterling is trading lower too, while Kiwi stays as the worst. Dollar and Canadian are mixed awaiting BoC rate decision. Technically, EUR/CHF is worth
USD/JPY remained pressured as the 50-DMA crossed beneath the 200-DMA. Bears stepped in and reclaimed 130.00, as they eye 129.00. USD/JPY fell as the North American session progressed and tumbled below the 130.00 figure, as buyers failed to crack the 20-day Exponential Moving Average (EMA) at 130.74. Factors like a soft US Dollar (USD) and
The major European indices are ending the day with mixed results. The final numbers are showing: German Dax fell -0.07% France’s CAC rose 0.26% UKs FTSE 100 fell -0.35% Spain’s Ibex rose 0.26% Italy’s FTSE MIB rose 0.24% Looking at the hourly chart of the German Dax, the correction yesterday and consolidation today, has seen
There probably won’t be a recession But Q1 GDP will probably shrink slightly, mainly due to consumption It’s only January and they are already sounding overly optimistic in my view. The less harsh winter certainly helped but we will see if inflation pressures will keep easing as they expect it to or if there will
The Saudi Central Bank (SAMA) is ramping up its research into Central Bank Digital Currencies (CBDCs) but is yet to announce a deployment. In a Jan. 23 bulletin, the bank stated it was working on a phase of a project that “focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs.”
Crude oil prices rebounded on Wednesday as demand recovery hopes in top importer China following its exit from COVID-19 pandemic curbs provided support after prices dropped in the previous session on concerns about global economic growth. Brent crude futures gained 59 cents, or 0.7%, to $86.72 per barrel by 0214 GMT after falling 2.3% in
Dollar softens mildly again in rather subdued trading in Asia. Many markets are still on Lunar New Year holiday. For now, Australia Dollar is the relatively stronger one for the week, followed by New Zealander. Euro is maintaining some of this week’s gains, but there is no follow through buying. Yen is the weakest one
GBP/USD struggles for clear directions after two-day downtrend. UK’s record deficit, fresh Brexit woes and fears of strong recession due to workers’ strikes favor bears. Receding hawkish concerns surrounding Fed, downbeat US data put a floor under the Cable price. Second-tier UK data may entertain traders ahead of US Q4 GDP. GBP/USD holds lower ground
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Natural gas futures are back below the 100 hour MA The price of natural gas futures are trading sharply lower with the prices down close to 4% on the day. The move lower comes after the price tried to move above its 200 hour moving average (green line in the chart above) at $3.50. The
This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US. Via Twitter: Expectations I had seen centred on: Headline crude +1 mn barrelsDistillates -1.1 mn bblsGasoline +1.8 mn As an aside, the data from China is showing that the country’s exports of refined petroleum products,
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft shares rose as much as 5% in extended trading on Tuesday after the company reported fiscal second quarter earnings that topped analysts’ estimates. Here’s how the company did: related investing news Alphabet or Microsoft? Analysts predict which stock will come out on top Weizhen
Gold prices pulled back from a nine-month high on Tuesday due to a slight uptick in the dollar and U.S. bond yields, although hopes of slower interest rate hikes from the Federal Reserve underpinned the market. Spot gold fell 0.2% to $1,927.35 per ounce by 10:20 a.m. ET (1520 GMT), after hitting its highest since
Sterling falls broadly today and poor PMI data indicates that recession is continuing in the UK. Comparatively, Eurozone PMIs argue that it might have escaped recession. For now, the Pound is the worst performer for the day, followed by Swiss Franc, and then Aussie. Yen is the strongest, trying to recover again, followed by Canadian
USD/JPY back into negative territory after a spike following US data. US PMI S&P Global recovers in January, still below 50. US Dollar weakens during the American session amid risk appetite. The USD/JPY spiked to 131.21, following the release of US economic data but then pulled back toward 130.00 as stocks turned positive on Wall
2-10 year spread is heading back down and near bottom The 2-10 year spread moved below the 0.0% into negative territory back in July and it has been pretty much down since then. The spread is currently at -0.706 which is supposed to be a prelude to a recession. If the Fed overstays it’s welcome