Yen is showing broad-based recovery today, although the momentum remains weak, following its decline to the lowest level against Dollar since 1986. Japan has finally stepped up its verbal intervention efforts again, with Finance Minister Shunichi Suzuki expressing a “high sense of urgency” regarding Yen’s depreciation. Suzuki pledged to “take necessary action as needed” and
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Pedestrians cross the street in front of a H&M store in Hong Kong. Sopa Images | Lightrocket | Getty Images Shares of H&M plunged more than 14% on Thursday morning after the company reported a smaller-than-expected increase in second-quarter profits and cast doubt over its June sales and full-year profit margin target. The stock pared
Gold prices remained broadly unchanged in United Arab Emirates on Thursday, according to data compiled by FXStreet. The price for Gold stood at 271.53 United Arab Emirates Dirhams (AED) per gram, broadly stable compared with the AED 271.41 it cost on Wednesday. The price for Gold was broadly steady at AED 3,167.11 per tola from
Fundamental Overview Crude oil managed to eventually break above the key $80 resistance as the market has finally started to catch up to positive drivers. In fact, we got the recent OPEC+’s extension of voluntary output cuts, and we are seeing a pickup in economic activity as the US PMIs showed once again last Friday.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices inched up on Wednesday nearing their highest level in almost two months, driven by forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from the Middle East conflict. The American Petroleum Institute (API) on Tuesday reported U.S. crude oil stocks rose by 914,000 barrels, market
Yen is drawing significant attention again today as it plummeted past the crucial 160 mark against Dollar, and hit its lowest level in over 37 years. Market participants are vigilantly watching for any signs of intervention from Japanese authorities, yet no action has been taken so far. It should be emphasized again that the tone
In this article MU Follow your favorite stocksCREATE FREE ACCOUNT Sanjay Mehrotra, CEO of Micron Technology Inc., speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 26, 2024. Brendan Mcdermid | Reuters Micron shares fell almost 8% in extended trading on Wednesday
The Japanese Yen trades above 160.50 against the US Dollar. Traders are testing the Japanese government, which might not take action until Friday. The US Dollar Index pops higher after some hawkish Fed comments. The Japanese Yen (JPY) is retreating further and faces over 5% devaluation against the US Dollar since the Japanese government’s latest
Fundamental Overview The USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report yesterday. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it also supports the risk sentiment
Headlines: Markets: AUD leads, NZD lags on the day European equities lower; S&P 500 futures down 0.1% US 10-year yields up 4.9 bps to 4.286% Gold down 0.3% to $2,310.84 WTI crude up 0.7% to $81.38 Bitcoin down 0.9% to $61,329 There were some decent moves in European morning trade today, with the dollar holding
MCX gold August future contracts have been trading flat so far this week, falling by just Rs 70. It opened at Rs 71,515 per 10 gram today while the prices for silver July contracts on MCX fell by a little over Rs 2,000 in the same time period, opening at Rs 87,082/kg. On Tuesday, gold
Australian Dollar surged broadly in Asian session following a much stronger-than-expected monthly CPI report, sparking speculation that RBA might return to rate hikes in August. Comments from a top RBA official also indicated that the central bank is vigilant about upside risks to inflation. The upcoming inflation reports for June and the more critical Q2
GP: American flag and Chinese flag Matt Anderson Photography | Moment | Getty Images A recent survey of Chinese enterprises in the U.S. has found that a majority remain bullish on the market long term despite growing concerns about U.S.-China relations and the broader business environment. The annual survey conducted by the China General Chamber
In this article FDX Follow your favorite stocksCREATE FREE ACCOUNT A pedestrian walks by a parked FedEx delivery truck on March 21, 2024 in San Francisco, California. Justin Sullivan | Getty Images FedEx shares soared more than 15% after hours Tuesday after the company reported results that topped analysts’ estimates in both earnings and revenue.
Gold price drifts lower for the second straight day amid the Fed’s hawkish outlook. A September rate cut by the Fed remains on the table, which caps gains for the USD. Persistent geopolitical tensions contribute to limiting the downside for the XAU/USD. Gold price (XAU/USD) remains under some selling pressure for the second successive day
Fundamental Overview We got a bit of a pullback in the S&P 500 in the last few days. If we were to try to find a catalyst, the second miss in a row in the US Jobless Claims last Thursday could be it, but the data was still pretty good and not worrying in the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not