Dollar bids coming through It’s tough to find a fundamental underpinning to the latest move in the US dollar. It’s more likely flows or position squaring ahead of Powell. IF anything, the bond market is dollar negative at the moment as US 10-year yields trail down to 1.299% from 1.310% earlier and that brings rates
NEW DELHI: Following global trends, gold prices moved lower on Wednesday as the US dollar ticked up and investors awaited for possible guidance on tapering of the pandemic-era stimulus. Gold futures on MCX were down 0.56 per cent, or Rs 265, at Rs 47,347 per 10 gram. Silver futures declined 0.65 per cent, or Rs
Dollar recovers mildly in Asian session today as selling lost some momentum. On the other hand commodity currencies are turning softer. Australian Dollar continues to be weighed down by surging coronavirus cases, as the State Premier also warned of “lots of pressures” on hospitals. But overall, traders are starting to turn cautious ahead of Jackson
A Dick’s Sporting Goods store Craig Warga | Bloomberg | Getty Images Dick’s Sporting Goods shares rose on Wednesday after the retailer reported sales growth of 21% in the fiscal second quarter and raised its outlook for the year. Shares were up about 11% in premarket trading. The big-box retailer’s sales have soared during the
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USD/INR stays firmer around intraday high, up for the second consecutive day. Steady RSI suggests continuation of trading inside short-term range. Monthly resistance line, horizontal area from late June become strong levels to watch. USD/INR stays mildly bid for the second day, extending bounce off three-week low, while picking up bids to 74.20 during early
The controversial $1 trillion infrastructure bill will see a vote in the U.S. House of Representatives without any amendments to the crypto tax provisions by Sept. 27. The vote was agreed to after the House narrowly approved the Democrats’ $3.5 trillion budget blueprint in a vote of 220 to 212. Despite some initial pushback from
Head and shoulders patterns don’t always work out Beware of textbook chart patterns. Charts that are nearly ‘perfect’ have a habit of not working out. Last week I highlighted a potential head and shoudlers top in CAD/JPY, which had been one of the best trades in FX this year. I even warned in the post
State media in China report the shuttered terminal is to resume operations August 25. Meishan terminal was shut down after Covid-19 infections among workers at the port. Ningbo is the world’s third-largest container port, the Meishan terminal is one of its biggest box terminals amongst the 7 at the port. The halting of operations there has seen
NEW DELHI: Gold prices edged lower on Tuesday, bucking the trend of gains in global markets as early taper worries eased. However, a weaker dollar capped the decline. Gold futures on MCX were down 0.18 per cent, or Rs 84, at Rs 47500 per 10 gram. Silver futures declined 0.23 per cent, or Rs 147,
Commodity currencies suffered last week but Canadian dollar was the worst performer. Loonie declined -2.93% in the past week, making it the weakest amongst major currency pairs. Other than the broad-based strength in US dollar amidst speculations of early taper by the Fed, the sharp selloff in crude oil price was the ultimate reason driving
In this article JWN A shopper leaves a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images Nordstrom shares fell Tuesday after the department store chain reported fiscal second-quarter sales remained below pre-pandemic levels. Compared with a year earlier, sales more than doubled, as shoppers used Nordstrom’s anniversary sale as
Cable flat for the day remains sideways, limited by 1.3750. US dollar still weak across the board on risk appetite, DXY slides 0.10%. Market participants ignored US data, focus remains on Fed Chair Powell’s speech. The GBP/USD gained momentum during the American session and rose to test daily highs slightly below 1.3750 and again it
There is only in a 24 pip trading range The good news for the buyers is that the EURUSD is trading to a new session high in early North American trading. Also positive in a negative way sort of, is that the range is extended to 26 pips. That is well below the 51 pips average over the
Philadelphia-area service sector data Prior was 53.8 Firm-level activity 37.2 vs 44.8 prior New orders 27.4 vs 31.8 prior Wage and benefit cost index 43.0 vs 50.2 prior Full time employment index 8.2 vs 24.8 prior This is a low-tier indicator. Here was the special question, which relates back to inflation expectations — something the
New Delhi: Gold in the national capital on Tuesday jumped Rs 170 to Rs 46,544 per 10 grams despite rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,374 per 10 grams. Silver also gained Rs 172 to Rs 61,584 per kg, from Rs 61,412 per kg
New Zealand Dollar rises broadly today after a top RBNZ official indicated that the decision to refrain from rate hike was mainly due to communication difficulty. Instead, the central bank is actively considering a 50bps hike. Strong rebound in Asian stocks also supported other commodity currencies, but positive sentiment is not much carried through to