Gold prices inched higher in early Asian trade on Thursday as investors weighed chances of the U.S. Federal Reserve slowing its pace of interest rate hikes. FUNDAMENTALS * Spot gold was up 0.2% at $1,907.18 per ounce, as of 0028 GMT. U.S. gold futures rose 0.1% to $1,909.40. * Few Fed officials signalled on Wednesday
Yen falls broadly after BoJ defied some speculations and kept yield cap unchanged today. The announcement also sent Nikkei sharply higher while shot 10-year JGB yield down. Nevertheless, it’s still a bit early to confirm reversals in Yen crosses. Meanwhile, commodity currencies are trading firmer today. European majors are on the weaker side. In particular,
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The AUDUSD is extending to a new session low and in the process has moved below the 100 hour MA, and an upward sloping trend line. The price is approaching a swing area between 0.6940 and 0.69493. The rising 200 hour moving average is below that level of 0.69349. The price has not traded below
The US treasury is to auction off $12 B of 20 year bonds at the top of the hour. The current yield is around 3.72%. The 6 month averages of the major components shows: Tail -0.5 bps Bid to cover, 2.57X Directs (a measure of domestic demand), 17.2% Indirects (a measure of international demand), 71.9%
Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced Wednesday morning. Powell, 69, is “experiencing mild symptoms,” according to the announcement. “Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news
In this article GS GSBD Follow your favorite stocksCREATE FREE ACCOUNT Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected. Here’s what the investment bank reported: related investing news Citi downgrades Morgan Stanley after earnings beat, says upside
The GBP is looking quite robust on the session. Economists at Scotiabank expect the GBP/USD to retest the mid-December high at 1.2445/50. GBP is developing a strong uptrend “The GBP is developing a strong uptrend on the short-term charts and has been looking in relatively good form technically, at least, since its rebound from sub-1.19
Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold. Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, after hitting a
Sterling and Swiss Franc rise notably today, with help from the buying against Euro. The common currency is weighed down by talks of slower ECB tightening in March, but remains resilient against Dollar. Nevertheless, the Pound and Swissy are outshone by Kiwi for now. Yen is starting to reverse some BoJ triggered selloff in early
Crude oil is up eight days in a row The price of WTI crude oil futures settled above $80 at $80.18 the price last close above that level on December 30. The price has seen additional momentum after the settlement and is currently trading at $80.86. The earlier high for the day reached $81.23 before
The BOJ announced no change to its policy today (but it did up inflation forecasts slightly as expected) and that disappointed yen bulls and bond bears. However, the surprise factor was that they instead double downed on defending their yield curve control policy – instead of those anticipating that perhaps they may further tweak or
In this article UAL LUV Follow your favorite stocksCREATE FREE ACCOUNT United Airlines‘ fourth-quarter profit and outlook for early 2023 topped Wall Street estimates thanks to strong travel demand and high fares. Consumers’ appetite for air travel and willingness to pay higher fares has helped airlines return to profitability despite higher costs for fuel, labor
The share price of cryptocurrency exchange Coinbase has surged by 69% since its all time lows and other crypto-related stocks including business intelligence firm MicroStrategy have recorded similar jumps with green candles all around since the start of 2023. The share price of Coinbase fell as low as $31.95 on Jan. 6, before shooting up
Russia became the third-largest oil supplier to India in 2022, making up about 15% of total purchases, dragging down OPEC‘s share to the lowest in more than a decade, data obtained from industry sources show. Refiners in India, the world’s third-biggest oil consumer and importer, have been gorging on Russian oil sold at a discount
European majors are trading generally higher today, with help from strong improvement in Germany economic sentiment as well as solid UK job data. Commodity currencies are turning softer, with Canadian Dollar shrugging off CPI data. Dollar is mixed despite sharp decline in New York State manufacturing data. Yen is so far the weakest for today,
GBP/USD grinds near five-week high inside bearish chart formation. Divergence between higher-high on prices and lower high on RSI (14) tease sellers. Upside break of 1.2345 could defy the bearish signals and challenge previous monthly top. UK Inflation may disappoint pair buyers amid mixed forecasts. GBP/USD picks up bids to defend the previous day’s run-up