New Zealand Dollar trades mildly higher today, after an RBNZ survey shows firm expectation of more rate hike ahead. On the other hand, Canadian Dollar weakens broadly as WTI crude oil’s pull back extends below a near term support level. Overall, Sterling and Dollar remain the strongest ones for the week. Euro is recovering slightly
WTI down 1.4% to $77.29 at the moment The low today hit $77.08 and that is the lowest since 7 October as oil prices continue to struggle after failing to really secure a firm break above $85 in recent weeks. As pointed out last Friday here, three straight consecutive weekly declines and a relative top
A mixed showing at the open Eurostoxx +0.1% Germany DAX +0.1% France CAC 40 flat UK FTSE -0.3% Spain IBEX -0.2% But the light changes here aren’t doing much to destabilise the push so far this month to fresh record highs for the likes of the DAX and CAC 40 in particular. The overall risk
Gold prices edged up on Thursday, as the eased and U.S. bond yields retreated from a three-week high, lifting bullion’s appeal. FUNDAMENTALS * Spot gold rose 0.1% to $1,869.45 per ounce by 0046 GMT, after hitting a fresh over five-month peak on Wednesday. U.S. gold futures gained 0.1% to $1,871.50. * The dollar fell 0.1%,
A breakdown of the latest U.S. data indicates that inflation is confined to certain sectors and will not pose a threat to the recovery, according to Carl Weinberg, chief economist at High Frequency Economics. U.S. CPI inflation came in at an annual 6.2% in October, its steepest climb for more than 30 years. Energy, shelter
In this article NVDA Nvidia stock rose over 3% after the reported earnings on Wednesday for its third fiscal quarter that beat expectations for both earnings and sales. The company also issued a bullish forecast for revenue in the current quarter ending in January. Here’s how it did versus Refinitiv consensus expectations for the quarter
USD/INR takes offers to refresh weekly low during two-day downtrend. 100-SMA, five-week-old resistance line guards immediate upside. Descending RSI line, not oversold, adds to the bearish bias. 200-SMA adds to the upside filters, multiple tops of September strengthen 73.85 support. USD/INR stands on slippery grounds towards 74.00, down 0.15% intraday to form weekly bottom around
Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will “have to act” on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI. Dollar is still among the strongest for the week, but it’s apparently taking a breather
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Price moves above swing area The USDCAD has stretched to a new high and in the process has moved above the 1.25915 to 1.26038 swing area (see red numbered circles on the 4-hour chart), and the 50% of the move down from the 2021 high at 1.26177. The high reached 1.2622. The current price is
Originally said it would be made before the weekend Pres. Biden has changed the plan for his nomination of Fed chair to before Thanksgiving from before the weekend. There was some skepticism of the Friday announcement date. It seems he’s given himself the weekend to think more about it. The debate is whether he re-nominates
New Delhi: Gold in the national capital on Wednesday declined by Rs 402 to Rs 48,116 per 10 gram, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,518 per 10 gram. Silver also dipped Rs 528 to Rs 65,218 per kilogram from Rs 65,746 per kilogram in the
Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images Rising mortgage interest rates continue to take their toll on demand, especially in the refinance market. Total mortgage application volume fell 2.8% last week compared with the previous week, according to the Mortgage
In this article LOW A customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Lowe’s beat analysts’ expectations for fiscal third-quarter earnings on Wednesday, as the company got a bump in business from home professionals and
WTI has turned lower in recent trade, breaking out to fresh daily lows despite a bullish inventory report. The report has perhaps been interpreted as increasing the likelihood that the Biden administration taps the SPR. Front-month futures of the American benchmark for sweet light crude oil, West Texas Intermediary or WTI, have traded on the
Major crypto exchange Binance took a compliance-friendly approach to its business after years of cat-and-mouse game with regulators around the world and it worked surprisingly well in terms of user retention, according to a new interview with Binance CEO Changpeng Zhao. Speaking to Bloomberg News, CZ noted that Binance made Know Your Customer (KYC) processes mandatory
Dollar’s rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed ahead of Canada CPI. Much volatility is likely in the day ahead. In other markets,
EUR/USD erases most of its earlier decline from 1.1265 to 1.1315 now The push back above 1.1300 is alleviating some of the pain on buyers but the downside pressure is still largely intact as we look towards European trading today. The low hit 1.1265 but there seems to be a bit of a relief at