Sterling fall broadly today after much worse than expected PMI data raises concerns of recession ahead. On the other hand, Euro jumps as ECB officials continued to talk up July rate hike, while PMI data were solid. Still, the best performer today so far is Yen, which is supported by receding risk-on sentiment. Dollar is
A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in New York City, February 27, 2017. Andrew Kelly | Reuters Abercrombie & Fitch shares tumbled more than 20% in premarket trading Tuesday after the retailer reported an unexpected loss in its fiscal first quarter, with freight and product costs weighing
Gold Price remains firmer so far this week. As FXStreet’s Dhwani Mehta notes, XAUUSD eyes a sustained move above the 21-Daily Moving Average (DMA) at $1,857. Immediate support is seen at the $1,850 psychological level “Attention turns towards the global Manufacturing and Services PMIs preliminary readings, which will provide fresh hints on a potential recession
EURUSD bounced off the 50%/swing area. Earlier in the day, the EURUSD moved above the 50% of the range since the April 21 high at 1.06421. The price also moved above the swing high from May 5th at 1.0641 (just a pip off the50% level). There were other swing levels down to 1.0633. The break
> More on JP Morgan and UBS both slashing their forecasts for Chinese economic growth Earlier posts are here: UBS citing: economy will likely rebound in Q3 and Q4 with the Chinese government refining lockdown restrctions, including reducing disruptions to transport and supply chains but the easing will be as quick as that in 2020
TOKYO: Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing’s promises of stimulus. Brent crude futures for July slid 35 cents, or 0.3%, to $113.07 a barrel by 0122 GMT.
Overall market sentiment is mixed in Asian session today, with recover seen in Nikkei but selloff in Hong Kong and China. Aussie is extending near term rebound, following Labor’s win in the federal elections over the weekend. Kiwi is also firmer ahead of RBNZ rate hike. On the other hand, Dollar and Canadian are the
In this screengrab, CEO of Snap Inc. Evan Spiegel takes the stage at the virtual Snap Partner Summit 2021 on May 20, 2021 in Los Angeles. Snap Partner Summit 2021 – Snap Inc | Getty Images Snap will miss its own targets for revenue and adjusted earnings in the current quarter, CEO Evan Speigel warned
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The United States Federal Reserve Board has included data on cryptocurrency in its new Economic Well-Being of U.S. Households in the 2021 report. The Fed’s ninth annual report looked at survey results from 11,000 people questioned in October and November 2021. The report indicated financial wellbeing is the highest it has been since reporting began,
The UK has been long supporting the case to modify the Northern Ireland Protocol amid the barriers it creates in Northern Ireland. Another issue comes from delay and prices rises amid checks requirements. Last week, UK Foreign Secretary Liz Truss updated the local parliament, noting that their preference is to reach a negotiated solution with
AUDUSD stepped modestly higher today The AUDUSD move taken a step higher today after an up and down consolidation day on Friday. Recall on Friday, the pair moved down, and up, and back down again before bouncing toward mid range at the close. The high price on Friday stalled against the high price on Thursday
The major indices are trading higher in early NY trading. The Dow and S&P are still higher, but the Nasdaq has traded in positive and negative territory in early trading. The Dow is being helped by financials which are solidly higher in early trading: a snapshot of the market 12 minutes into the open is
Benchmark iron ore futures in China surged some 7% on Monday, tracking their biggest daily jump in two-and-a-half months, after India increased export duties on some commodities to rein in broadening inflationary pressures. Asia’s third-largest economy raised export duties for iron ore and steel intermediates, with new iron ores and concentrates tariffs increased to 50%
Euro rises broadly today after hawkish comments from ECB President Christina Lagarde. But so far, Aussie and Kiwi are even stronger on positive risk sentiment. On the other hand, Dollar and Yen are both trading generally lower. Sterling, Swiss Franc and Canadian are mixed for now. Technically, Gold also extends the rebound from 1786.65 short
Considering advanced prints from CME Group for gold futures markets, open interest extended the downtrend and shrank by nearly 61.K contracts on Friday. Volume, in the same line, reversed two consecutive daily builds and dropped by around 29.6K contracts. Gold: Another test of the 200-day SMA looks likely Friday’s uptick in prices of gold was