The RBA raised rates by 25 basis points which was less than the 50 basis point mostly expected by the market. The action initially sent the AUDUSD lower. It then rallied higher extending above the highs from last week but only by a few pips before rotating back to the downside. AUDUSD trades up and
US equities are now up more than 5% in just two trading days in October. That’s an phenomenal start after a 9% decline in September. Today’s changes: S&P 500 +112 points to 3790 or +3.1% DJIA+2.8% Nasdaq +3.3% Russell 2000 +3.9% Toronto TSX +2.6% Bear market rallies can be incredibly powerful and this certainly looks
The United States Commodities Futures Trading Commission can serve members of the Ooki decentralized autonomous organization, or DAO, with summons through online communications, according to a federal judge. In an Oct. 3 order granting a CFTC motion, U.S. District Judge William Orrick said the commission could provide a copy of its summons and complaint through
Gold prices in the national capital jumped Rs 980 to Rs 51,718 per 10 grams on Tuesday amid a rally in the prices of precious metal in the international market, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,738 per 10 grams. Silver prices zoomed by Rs 3,790
European majors are trading generally higher today, as led by Euro this time. In particular, Euro looks set to reclaim parity against Dollar with current rebound. On the other hand, commodity currencies are trading lower together with Yen. Aussie is under renewed selling pressure, as traders continue to assess RBA’s smaller than expected rate hike.
Jerome Powell, chairman of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they’re willing to tolerate a recession as the necessary trade-off for regaining control of inflation. Al Drago | Bloomberg | Getty
USD/JPY drops on a risk-on impulse due to equities rising amidst a falling greenback and US T-bond yields. If the USD/JPY clears 144.00, the pair could tumble to 143.00. Even though RSI is at oversold conditions, the break of the 200-EMA in the hourly chart shifted the bias downwards. USD/JPY is subdued, falling for the
If you were to take a short to long term view of the Nasdaq index the move higher today based nicely against key support on the daily chart. However if you were to drill to the hourly chart, the index is finding some resistance near downward sloping trend line and ahead of the high from
Kuwait’s oil minister said on Tuesday that OPEC+ would make a suitable decision to both guarantee energy supply and serve the interests of producers and consumers. Mohammed al-Fares made his remarks before departing for the OPEC+ meeting which is taking place in person in Vienna on Wednesday for the first time since March 2020, the
Gold prices rose higher on Tuesday, as the dollar cooled down and US Treasury yields dropped sharply during overnight trade, which heightened the bullions’ appeal. Back home, the festive season is lifting sentiments for gold. US manufacturing activity grew at its slowest pace in nearly two and a half years in September as new orders
Australian Dollar dips broadly today after RBA delivered a smaller than expected rate hike. But the selloff in Aussie is so relatively limited. New Zealand Dollar follows lower, ahead of tomorrow’s RBNZ rate decision. RBNZ is expected to hike by 50bps, but now it’s not totally certain given that tightening is already “mature”. Sterling is
USD/JPY remains top-heavy just below 145. Economists at MUFG Bank expect the pair to remain supported for now. The yen is set to star its recovery next year. Dynamics driving yen weaker will ease in 2023 “It is hard to see a turn in USD/JPY now even after intervention by the MoF.” “The Fed and
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With US stocks racing higher and yields moving lower, the risk-on currencies (CAD, AUD and NZD) are moving to the upside (the USD LOWER) in trading today, and testing respective 200 hour MA levels. Dow is up 854 points or 2.98% at 29581.48 S&P is up 104 points ro 2.90% at 3689.73 Nasdaq is up
Cryptocurrency exchange Binance has announced it completed the first burn of Terra Classic tokens’ trading fees in response to a community proposal from September. In an Oct. 3 update, Binance CEO Changpeng Zhao said the exchange had burned roughly $1.8 million worth of Terra Classic (LUNC) — formerly Terra (LUNA) — trading fees for LUNC/BUSD
LONDON -Oil prices jumped more than $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic. Brent crude futures were up $4.38, or 5.1%, to $89.52 a barrel by 9:50 a.m.