Sterling trades mildly higher in rather quiet market today while Euro and Yen turn softer. Dollar is attempting to extend this week’s rally after better than expected jobless claim data. But no follow through buying is seen in the greenback yet. Swiss Franc’s selloff slowed mildly after SNB upgraded inflation forecasts. But then recovery is
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Diners wearing protective masks wait outside an Olive Garden restaurant in Thornton, Colorado, on Friday, March 19, 2021. Chet Strange | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings that topped analysts’ expectations as customers visited Olive Garden and its other chains more than expected. The company is forecasting that its fiscal fourth-quarter results
EUR/USD struggles for direction around the 1.18 area. The dollar remains on the positive path and records 2021 highs. US final Q4 GDP came in at 4.3% QoQ, surpassing consensus. The single currency stays well on the defensive and drags EUR/USD to fresh YTD lows in sub-1.1800 levels on Thursday. EUR/USD in 4-month lows EUR/USD
Dow turns negative at the close It was an ugly day for the NASDAQ index. It fell 2% on the day on a decline of 265.8 points. The S&P index and Dow were down more modestly but both closed at the session lows. The declines today cannot be blamed on yields moving higher. The treasury curve is lower across the board with
Reuters conveying some commentary from National Australia Bank on the euro today: The weak point in Europe remains around the vaccine rollout amid the rise in new virus cases and the tightening of restrictions … which likely means the mooted acceleration in Q2 may have to be pushed back by a quarter The narrative of
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sales of newly built homes fell more than expected in February, as builders faced higher costs and persistent delays, and, consequently, raised
Gold prices were steady on Thursday as support from easing U.S. Treasury yields was offset by a strong dollar, which emerged as a preferred safe-haven amid growing concerns about extended lockdowns in Europe. FUNDAMENTALS Spot gold was little changed at $1,734.81 per ounce by 0130 GMT. U.S. gold futures were steady at $1,732.90 per ounce.
Crude oil prices have extended the selloff for a third consecutive week. While the demand/supply fundamentals have changed little, the major reason for the decline is the broadly-based risk aversion driven by rising yields. International Energy Agency (IEA)’s report refuting prospect of a commodity supercycle has also triggered the profit-taking selloff. Rising Yield Environment Hurts
Jason Kempin | Getty Images Entertainment | Getty Images The furniture retailer RH, formerly Restoration Hardware, on Wednesday reported fourth-quarter earnings and sales that topped Wall Street estimates, as it continued to see robust demand for its high-end furniture and home wares. CEO Gary Friedman said the momentum is expected to continue into this year,
GBP/JPY gained some positive traction on Thursday and snapped five days of the losing streak. A combination of factors lifted the global risk sentiment and undermined the safe-haven JPY. The GBP benefitted from a modest USD pullback and provided an additional boost to the cross. The GBP/JPY cross edged higher during the Asian session and
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Ether (ETH) lost the $1,750 support on March 22, which marked a 7% loss and $230 million worth of futures contracts liquidations. It has been holding near the strong support at $1,670, although investors are unwilling to open new long positions despite the price being 11% below the previous week’s high. Binance Chain recently surpassed
The 2021 high is at 0.93747 The USDCHF moved has continued the trend move from yesterday although there is some choppy price action as the pair approaches key upside target at the 2021 high. That high came in on March 9 at 0.93747. The high price reached 0.9369 so far today. The high for 2021
India will keep the vaccines at home Reuters, citing sources, reports that India is delaying big shipments of the AstraZeneca vaccine as cases surge at home. Here’s a look at the case count in India and you can imagine how many cases go unreported in country that big and that poor. Meanwhile, in Italy, AstraZeneca
A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters Higher mortgage rates do not appear to be dampening demand for home purchases but are crimping refinance volume. Mortgage applications to purchase a home rose 3% last week from the previous week, according to the Mortgage
A 3 percent drop in gold prices beginning March has spurred demand for the yellow metal in the physical and paper form. Wealth managers said that clients looking at gold as a long-term investment with regular interest earning are buying sovereign gold bonds (SGBs) from the secondary market at the current rate, which is below