Kickstart your day by watching the morning technical video. In this video, I review the EURUSD, USDJPY, GBPUSD and USDCAD to get the ball rolling. Fed’s Powell is speaking on a panel, but it will be the CPI data on Thursday which will be key event this week. Fed’s Daly, told us yesterday that it
The LME Group suffered a major black eye after it canceled trades after a short squeeze in the nickel market in March 2022 and a long-awaited independent review was released today, though it came far short of the detailed explanations that were hoped for. The report starts out with a description of the short squeeze:
The French government is presenting new plans to update the pension system. Analysts expect some backlash from some workers. Nurphoto | Nurphoto | Getty Images French President Emmanuel Macron is going at it again: a new pension reform will be presented Tuesday, and is expected to face some backlash. Macron is serving his second term
In this article BBBY Follow your favorite stocksCREATE FREE ACCOUNT A man is seen at a Bed Bath & Beyond store in New York, on Jan. 5, 2023. Ziyu Julian Zhu | Xinhua News Agency | Getty Images Bed Bath & Beyond on Tuesday posted wider quarterly losses than expected as its chief executive acknowledged
Some investors have been cautious about investing in China’s tech stocks. However, recent comments from the party secretary of the People’s Bank of China that the tech sector’s heavy clampdown is coming to an end have given investors some confidence to move back into tech shares. This has led to Alibaba shares taking out the
Gold prices inched lower on Tuesday as the U.S. dollar witnessed an uptick, with traders largely focusing on Federal Reserve Chair Jerome Powell’s speech for insights into the central bank’s rate hike path. * Spot gold was down 0.2% at $1,868.85 per ounce, as of 0033 GMT. U.S. gold futures also slipped 0.2% to$1,873.10. *
Markets turned steady in Asian session as risk-on moves take a breather for now. Dollar remains the worst performer but there is no committed follow through selling so far, after breaking near term support against Euro and Swiss Franc. Commodity currencies also lose some momentum and are overtaken by European majors in terms of strength.
EURUSD tests the 61.8% retracement and swing area The EURUSD extended to the highest level going back to June 9th today (see earlier post on the pair by clicking here). In the process, the December high at 1.0735 was broken . The 61.8% of the 2022 trading range was also broken at 1.07468 with the
Japan’s Prime Minister Kishida wants to implement “unprecedented measures” to combat the country’s low birthrate. Says he’ll be unveilling a general framework by June The key policy measure will be a doubling the budget for children’s policies So far, so good. But …. Former LDP Secretary-General Akira Amari, a key ally of Kishida said that
People shop for goods at a Publix in Nashville, Tennessee, on December 22, 2022, ahead of winter storm Elliot. Seth Herald | AFP | Getty Images Consumers see the inflation burden easing while they expect to pull back considerably on their spending, according to a closely watched survey the New York Federal Reserve released Monday.
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The United States Commodity Futures Trading Commission (CFTC) filed suit against self-described digital artist Avraham Eisenberg on Jan. 9, charging him with two counts of market manipulation in connection with an exploit of decentralized finance platform Mango Markets. Eisenberg was arrested on related charges on Dec. 27 and is currently in custody. The CFTC claimed
Oil extended gains on Monday, rising more than 3% after China‘s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to
Selloff in Dollar remains the main theme today, but Yen is also sharing some burden. US 10-year yield is falling below 3.6 handle again, giving the greenback some additional pressure. Swiss Franc breaks through recent resistance against Dollar already, with help from cross buying. But Euro might also follow very soon. For now, Aussie and
What you need to take care of on Tuesday, January 10: The US Dollar started the week on the back foot as optimism weighed on the safe-haven currency. On the one hand, market players assessed US macroeconomic data published last Friday, which suggests the Federal Reserve could slow the pace of tightening. Federal Reserve officials
EURUSD moves to a new high The EURUSD is moving to a new high for the day and in the process is extending above the end of December high at 1.07127. The next target is the high from December 15 at 1.0735. Moving above that high would take the price to the highest level going
Prices up 0.8% m/m seasonally adjusted Unadjusted -1.9% December prices +0.8% Largest annual decline in series history at -14.9% Full report This is the index for the second-half of December. Days supply is still about as tight as a year ago but there are some murmurs about supply coming online and that should also be