Brent Crude has continued to surge with a huge spike seen during February-March 2022, mainly led by the Russia-Ukraine conflict. Since then, Brent Crude has broadly been consolidating between $116-95. On the monthly timeframe, we have observed Fibonacci Extension from the October 2018 peak to the March 2020 lows. Critical resistance for the commodity is
The main focus remains on Yen’s selloff today, on the back of widening yield spread between Japan JGB and other major benchmark treasuries. Meanwhile, Euro appears to be strengthening in general too. Traders are probably buying up the Euro in anticipation on a hawkish ECB policy decision and press conference tomorrow. The central should without
Most of the U.S. has been seeing just “slight or modest” economic growth over the past two months or so, according to a Federal Reserve report released Wednesday. While all 12 Fed districts reported continued growth, the central bank’s periodic “Beige Book” indicated that four of the regions showed “that the pace of growth had
A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse said on Wednesday that it is likely to post a loss for the second quarter as the war in Ukraine and monetary policy tightening
In recent months, Russian legislators have been preparing measures to fully institutionalize crypto as a properly taxable investment asset and a possible tool for foreign trade in Russia. Now, they want to make clear that the upcoming regulatory turn won’t include any windows for adopting digital financial products as a payment method. On Tuesday, June
The Bank of Japan (BOJ) will consider downgrading its assessment on factory output at the June policy meeting due to supply disruptions caused by China’s covid lockdowns, Reuters reports, citing sources with the central bank’s thinking. The BOJ is expected to maintain the view that Japan’s economy is picking up as a trend, noting that
USDCHF back below the 38.2% retracement The USDCHF moved higher into the US session and in the process moved above the 38.2% of the last trend move lower that saw the pair moved from 1.0063 to 0.95442 (on May 27). Since that bottom, the price consolidated in a narrow range between 0.9544 and 0.9669 and
Eurostoxx +0.3% Germany DAX +0.3% UK FTSE +0.2% France CAC 40 +0.3% Spain IBEX +0.3% In essence, European indices are playing a bit of catch up to the late turnaround in US stocks yesterday. The overall tone in the equities space remains more sluggish as outlined earlier here. S&P 500 futures are down 0.3%, Nasdaq
NEW DELHI: Gold prices edged lower on Wednesday, as an uptick in the dollar and US treasury yields limited bullion’s appeal, with investors looking ahead to US inflation data for more direction on interest rates. Gains in gold were capped as central banks worldwide tightened monetary policy to cool surging prices. Investors await the core
Weakness in Yen and Swiss Franc are both staying under selling pressure today, and there is not clear sign of bottoming yet. Sterling is currently the stronger one for the week but there is no clear breakthrough. Aussie and Loonie are digesting some gains but remain firm. Meanwhile, Dollar is mixed for now, together with
A ‘help wanted’ sign is displayed in a Manhattan store on May 6, 2022 in New York City. Spencer Platt | Getty Images Job creation at companies decelerated to the slowest pace of the pandemic-era recovery in May, payroll processing firm ADP reported Thursday. Private sector employment rose by just 128,000 for the month, falling
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The price is running into monthly resistance but prior highs near 102.80 will be eyed if the bulls stay with the course. The yen is suffering a central bank divergence blow and a potential paradigm shift. At 95.89, AUD/JPY is strong and rising over 1% on the day following a surprise move and hawkishness from the
USDCAD has a lower low for 9 consecutive days The USDCAD is trading at a new low. The price will below the low from yesterday at 1.25344 and has reached 1.25239 so far. The pair has not traded to a new intraday low for the 9th consecutive day. Looking at the daily chart, the next
The Canadian dollar is strengthening again today. The easy answer as to why is that crude is up $1.48 at the moment. But oil prices have bounced around today and the loonie has stayed bid. I think a better explanation is that the market’s perception on the sustainability of the oil and gas rally is
Gold in the national capital on Tuesday declined by Rs 205 to Rs 50,733 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 50,938 per 10 grams. Silver also dipped Rs 964 to Rs 61,555 per kg from Rs 62,519 per kg in the previous trade. “Spot
Selloff in Yen and Swiss Franc is still the main theme today even though US and Germany benchmark yields are retreating slightly. Australia was only lifted very briefly by the larger than expected rate hike by RBA. Though, Aussie is maintaining gains against Kiwi, which is the worst performing one for the day. On the
Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon. Though she stressed that Fed policymakers will remain data-dependent, Brainard said the most likely path will be that the increases will continue until inflation is tamed. “Right now, it’s