I can’t remember many things that have ever fallen for 12 straight days but here we are. Bitcoin is down another $2420 today, breaking the $20,000 level and continuing lower to $18,171, which is scarcely above the session lows. This is the lowest since mid-December 2020 and there isn’t much in the way of support
NEW DELHI: Gold prices dropped on Friday, thanks to the firm US dollar and higher treasury yields, which weighed on the demand for the safe-haven metal. The yellow metal is headed for the biggest weekly drop since May. Gold futures on were trading lower, easing about 0.10 per cent or Rs 52 to Rs 50,934
Net reactions of the global markets to Fed’s 75bps rate hike were rather negative. Global stocks ended generally lower after initial recovery. Additionally, SNB delivered a surprised 50bps rate hike while BoE’s 25bps had a hawkish undertone with three members wanted more. BoJ stayed calm and kept interest rate unchanged while maintaining the 10-year JGB
The U.S. has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that they may have become an inevitable part of the financial cycle that fluctuates between periods of expansion and contraction. “History teaches us that recessions are inevitable,” said David Wessel, a senior fellow in economic studies
The Australian dollar prepares to finish the week with losses of almost 1.60%. Fluctuating sentiment in the FX space boosts the USD and weighs on the AUD. St. Louis Fed President Bullard: Achieving a soft landing is feasible. AUD/USD plummets from weekly highs reached on Thursday around 0.7069, down below the 0.7000 mark, after Wednesday’s
AUDUSD falls below the 100 hour moving average The AUDUSD rallied higher yesterday along with the other dollar selling trends in the major currency pairs. However, once the pair reached the 200 hour moving average and 50% retracement near 0.7066, sellers leaned and the price started wandering back to the downside. Today in the Asian
Cash stock markets, bonds and FX are closed on Monday in the US (there may be skeleton staffing at some bank desks). CME futures hours are, in summary (there are exceptions): Globex is open for a few hours on Sunday evening (see rows 5 to ( in pic below)(1700 to midnight Chicago time), 19 June.
New Delhi: Gold prices in the national capital on Friday rallied by Rs 416 to Rs 50,802 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,386 per 10 grams. Silver also surged by Rs 1,014 to Rs 61,343 per kg from Rs 60,329 per kg in
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sentiment among the nation’s homebuilders fell for the sixth straight month to the lowest level since June 2020, when the economy was
A class-action suit was filed against Coinbase on Thursday claiming the trading platform was negligent in its listing of the TerraUSD stablecoin and alleging that it failed to disclose its financial relationship with Terraform Labs. This is the second class-action suit outstanding against Coinbase. A suit was filed last month in connection with the depegging
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The gold spot is falling due to broad US dollar strength and steady US real yields. US Industrial Production expànded at a lower rate than in April, showing that the US economy is slowing. Gold Price Forecast (XAUUSD): To consolidate amid the lack of a catalyst. Gold spot (XAUUSD) drops courtesy of a buoyant greenback,
NZDUSD trades between the 100/200 hour MAs The NZDUSD – like other pairs vs the USD yesterday – saw the pair shoot higher. The move extended above the 100 and 200 hour MAs, and for this pair also extended briefly above the 50% retracement at 0.63857. However, going into the close yesterday, the price rotated
The USD moved lower yesterday helped by the Swiss National Bank surprise tightening, and a string of weaker data. Today the story was different. The Bank of Japan kept rates unchanged and said that they would continue the put a ceiling on the 10 year yield by being a buyer. The industrial production was weaker
New Delhi: Amid the rising inflation, the best hedge against inflation is running out of favour. Gold is not the first choice for investors to make or save their fortunes in these tough times. The rising bond yields and stronger dollars are denting the yellow bullion’s appeal as investors will have to pay more for
Swiss Franc remains the strongest one for the week and stays firm into US session. Dollar is also regaining some ground, as the second best. On the other than, commodity currencies are the worst performing one, as led by Canadian. In other markets, European indexes are mildly in black while US futures are nearly flat.
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images The Federal Reserve on Wednesday is expected to do something it hasn’t done in 28 years — increase interest rates by three-quarters of a percentage point. In response to soaring