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NZDUSD moves to a new low going back to July 19 The NZDUSD – like other pairs – saw dollar selling after the core PCE data – take the pair move up to test the 200 hour MA. Sellers leaned keeping the pair steady. Chair Powell came along and the comments caught hawks attention today.
Weekend data out of China’s National Bureau of Statistics, a soft reading for Industrial Profits in July. Profits at industrial firms in China for the first seven months of the year (i.e. January – July) fell 1.1% y/y this compares with the +1.0% for January – June Earlier this month we had the July data
Oil prices rose in early trade on Friday on signs of improving fuel demand, though gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in a speech later in the day. Brent crude futures climbed 46 cents, or 0.5%, to $99.80 a barrel at
In terms of prompting market volatility, Fed Chair Jerome Powell didn’t disappoint. Stocks suffered steep selloff after his Jackson Speech. While Australian Dollar was still at top of the chart, most of its earlier gains evaded on Friday, and looks set to weaken further in the near term. Dollar was the second strongest. But it
In this article M Macy’s Herald Square Flagship Department Store in Midtown Manhattan New York. Nicolas Economou | NurPhoto | Getty Images Macy’s on Tuesday cut its full-year forecast, saying it anticipates deteriorating consumer spending on discretionary items like apparel that will force the department store chain to use heavy markdowns to move items off
NZD/USD plunges more than 1% on Friday, in a risk-off mood. Powell said it would “bring some pain to households and businesses” in achieving the Fed’s 2% goal. US inflation readings show signs of peaking while US consumer sentiment improves. The NZD/USD dropped to fresh weekly lows of 0.8150 on Friday, following hawkish remarks by
EURUSD moves back toward 100 hour MA The EURUSD is lower, but is still above the low for the day and the 100 hour MA. The current price is at 0.9977. The low for the day reached 0.99459. That took the price briefly below the 0.99515 level which was the low from July 14 low.
Markets: S&P 500 down 3.4% Gold down $21 to $1737 US 10-year yield up 1 bps to 3.03% WTI crude oil up $0.34 to $92.86 USD leads, NZD lags There was a dovish lean in the market before Powell as the PCE inflation report came in soft. That was validated by Bostic as he said
NEW DELHI: Gold prices remained subdued on Friday as investors adopted a cautious stance ahead of US Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. The key central bankers’ conference which will be watched for guidance on future interest rate hikes. The dollar index hovered near one-month highs, while benchmark US 10-year Treasury yields
The forex markets are generally steady in Asian session today, as traders are still holding their bets ahead of Fed Chair Jerome Powell’s Jackson Hole speech. US stocks staged a rebound overnight, but there was little reaction elsewhere. For the week, commodity are currently the strongest, led by Aussie. European majors are the worst performers,
In this article SNOW Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. CNBC Shares of the cloud data platform provider Snowflake popped more than 17% in extended trading on Wednesday after the company released second-quarter earnings that beat analysts’ revenue expectations. Here’s how the company did: EPS: Loss
USD/CHF bounces from weekly lows, set to finish the week with gains of 0.73%. From a daily chart perspective, the USD/CHF has nowhere to go; it would likely remain in consolidation. Near-term, a symmetrical triangle in the USD/CHF 4-hour chart targets 0.9767. The USD/CHF stages a comeback after hitting weekly lows around 0.9577 earlier in
Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise. In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it planned to
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USDCHF falls toward the 200 hour MA The USDCHF is moving to a new session low and at the lowest level since Monday. The 200 hour moving average is being approach at 0.95907. That moving average is near a low swing area between 0.9591 and 0.96046 (see renumbered circles). A move below that level would
University of Michigan sentiment index 58.2 versus 55.1 preliminary The final report from July was 51.5 Current conditions 58.6 versus 55.5 preliminary and 58.1 last month expectations 58.0 versus 54.9 preliminaary and 47.3 last month inflation one year 4.8% versus 5.0% preliminary and 5.2% last month inflation five year 2.9% versus 3.0% preliminary and 2.9%