The USD weakened lately following a beat in the NFP data. The weak details, such as a higher unemployment rate and lower average weekly hours, contributed to this shift towards less hawkish expectations. A looser labour market should bring down inflation faster. Additionally, the miss in the ISM Services PMI, particularly the lower prices paid
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Here’s a look at how the curve in Fed funds futures have changed since a month ago and at the start of this month: It may seem like an eternity but it was just four weeks ago that traders were still convinced of three rate cuts by the Fed before year-end. That pricing was ultimately
Gold prices gained in the early trade on Wednesday on the back of a weaker dollar index (DXY). Although traders maintained their cautious approach ahead of the Federal Open Market Committee (FOMC) outcome, scheduled later in the day. MCX August Gold futures were trading at Rs 59,301 per 10 grams in the opening trade, up
Shell gas station prices are seen on May 30, 2023 in Austin, Texas. Brandon Bell | Getty Images Consumers are growing more optimistic that inflation is on the way down, according to a New York Federal Reserve survey released Monday. The central bank’s monthly Survey of Consumer Expectations for May showed one-year inflation expectations down
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What makes a decentralized autonomous organization (DAO) a DAO? In practice, the democratic structure of these organizations has been compromised because a number of self-purporting DAOs are operating like traditional corporations. With this in mind, developers at Delphi Labs proposed an alternative framework, incorporating so-called BORGs (Cybernetic Organizations) into governance structures to automate decision-making so
Share: EUR/USD prods two-day winning streak by reversing from the highest levels since late May. Mostly downbeat German, EU data fails to lure bears as US inflation challenges Fed’s rate hike. Hopes of witnessing hawkish guidance from US central bank highlights economic forecasts, dot-plot and Powell’s speech. Eurozone Industrial Production, US PPI may entertain Euro
Dollar falls significantly in early US session, reacting to reports that both headline and core CPI decelerated in May. This development boosts confidence to Fed policymakers to skip tightening at tomorrow’s decision. Meanwhile, Canadian Dollar and Yen are following as the next weakest for now. Contrarily, Sterling is witnessing a surge, rebounding from its initial
The price of crude oil did rally sharply today with the price settling at $69.42 up $2.30 or 3.43%.The high price extended to $69.83. The low was at $67.15. Looking at the hourly chart above, the run to the upside today stalled just short of the 38.2% retracement of the run down from the June
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
Gold prices edged up Rs 30 to Rs 60,680 per 10 grams in the national capital on Tuesday amid positive global cues in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,650 per 10 grams. Silver also climbed Rs 70 to Rs 74,120 per kg. “Gold
The inflation rate cooled in May to its lowest annual rate in about two years, the Labor Department reported Tuesday. The consumer price index, which measures changes in a multitude of goods and services, increased just 0.1% for the month, bringing the annual level down to 4%. That 12-month increase was the smallest since March
Share: EUR/USD adds to Monday’s gains and surpasses 1.0800. Further upside could dispute the 55-day SMA near 1.0880. EUR/USD extends the bullish momentum north of the 1.0800 hurdle on Tuesday. A more serious bullish attempt is expected to put the transitory 55-day SMA at 1.0878 to the test ahead of the weekly peak at 1.0904
Financial markets are generally leaning towards a risk-on posture, with significant rise in Asia’s Nikkei, following a solid close in the US overnight. However, this momentum will face a series of tests from significant events on the horizon, including today’s US CPI data, tomorrow’s much-anticipated FOMC rate decision, and ECB’s rate decision due on Thursday.
The recent beat in the non-farm payrolls (NFP) data, followed by concerning factors like a higher unemployment rate and fewer average weekly hours, has resulted in a weakening of the USD. The market has adjusted its hawkish expectations to less hawkish ones because a looser job market can help reduce inflation. Additionally, the disappointment in
This carries over from yesterday’s post here and all the points made then are still very much in play in trading today. The pair is still looking poised to take a run at the April and May highs, with the daily resistance region around 0.6793-00 one to watch. The May high comes in at 0.6818
New Delhi, Gold exchange-traded funds (ETFs), considered a safe haven during uncertain times, continue to glitter as they received a net inflow of Rs 103 crore in May. The development comes after a net inflow of Rs 124 crore witnessed in the asset class in April. Before that, investors withdrew Rs 266 crore from Gold