The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed
The Federal Open Market Committee minutes have been released which are so far sending the US dollar DXY index a touch softer. The softness in the greenback come as there were no discussions on larger rate hikes. At the May 3-4 meeting, the Fed hiked rates from the expected 50 bp to 1.0% and laid out plans for
EURUSD moves back toward key support In the early post today, I spoke to key support being tested in the 1.0633 to 1.0642 area. The EURUSD did in fact bounce off the early US session low near the 100 hour MA, the 50% retracement and swing area which all clustered from 1.06336 to 1.0642. The
High yield 2.736% WI level at the time of auction at 2.732% Tail 0.4 basis points vs six-month average of 0.0 basis points bid to cover 2.44X vs. six-month average of 2.45X Directs (a measure of domestic demand) 20.0% vs. six-month average of 17.4% Indirects (a measure of international demand) 62.9% vs. six-month average of
Gold in the national capital on Wednesday dipped marginally by Rs 13 to Rs 50,935 per 10 grams in line with weak trends in international precious metal prices along with rupee appreciation, according to Securities. In the previous trade, the precious metal settled at Rs 50,948 per 10 grams. Silver, however, gained Rs 101 to
Overall, the moves in the forex markets are still indecisive. Dollar and Yen are striking back today and rise broadly. Swiss Franc follows as the third strongest, suggesting a risk-off undertone. Nevertheless, other markets are still relatively steady. New Zealand Dollar’s post-RBNZ rally faded rather quickly. But for now, Aussie is the weakest one, followed
In this article DKS A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City. Spencer Platt | Getty Images Dick’s Sporting Goods on Wednesday reported results for its fiscal first quarter that topped Wall Street’s expectations, as shoppers spent money on golf clubs, soccer gear and athletic apparel
CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions by just 596 contracts on Tuesday. Volume, instead, went up for the second straight session, now by around 20.3K contracts. WTI remains side-lined around $110.00 Tuesday’s inconclusive price action in WTI was amidst a small decrease in open
Crude oil find sellers against topside swing area The price of WTI crude oil futures chopped up and down in trading today. The low price was at $108.61. The high price was at $111.43. The prices settling between those levels at $109.77. That’s down -$0.52 or -0.47%. Looking at the hourly chart, the high price
Prior 100.9; revised to 100.1 Coincident index 97.5 Prior 95.5; revised to 96.8 The overall assessment of the coincident index remains unchanged i.e. seen as ‘improving’. The index is used as a reference to economic conditions, but most of the indicators used to make up the index has already been released individually – so there
HOUSTON: Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season. Brent crude futures for July rose 46 cents, or 0.4%, to $114.02 a barrel by 0020 GMT. U.S. West Texas Intermediate (WTI) crude futures for July
New Zealand Dollar rises broadly today after an hawkish RBNZ rate hike, which suggests that interest rate could peak higher than earlier projected. Australian and Canadian Dollars are also generally firmer. On the other hand, Euro is starting to lose some upside momentum again, struggling to ECB driven rally. Swiss Franc and Sterling are soft
In this article JWN A pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020. Frederic J. Brown | AFP | Getty Images Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business
As economic conditions continue to worsen, financial experts worldwide are increasingly placing the blame at the feet of the Federal Reserve after the central bank was slow to respond to rising inflation early on. Financial markets are currently experiencing their worst stretch of losses in recent history and it doesn’t appear that there is any
A sharp drop in UK (and global) yields following weak UK and US PMI data has weighed heavily on GBP/JPY. The pair was last trading in the low 158.00s and eyeing a breakout to fresh monthly lows around 156.00. UK government bond yields had already been on the back foot in the lead up to
USDCHF falls below the 50% midpoint of recent move higher The CHF is just behind the JPY as the currency of choice today as investors look toward safe haven. The CHF is a standard safe haven currency. Looking at the daily chart above, the price of the pair is now down 6 the last 7
High yield 2.519%. The last auction high yield came in at 2.585% WI level at the time of the auction 2.526% Tail -0.7 basis points vs. six-month average of 0.0 basis points Bid to cover 2.61X vs six-month average of 2.59X Directs (a proxy for domestic demand) 22.09% vs six-month average of 17.8% Indirects (a
Gold prices touched a more than one-week high on Monday, as an easing dollar supported greenback-priced bullion, although rising U.S. Treasury yields capped gains. FUNDAMENTALS Spot gold rose 0.3% to $1,850.39 per ounce, by 0039 GMT, their highest since May 12. U.S. gold futures GCv1 also gained 0.3% to $1,847.90. The dollar began the week