Given the last hot CPI report, the BoE is expected to keep raising rates as it combats with one of the highest inflation rates among the majors. The BoJ keeps standing pat with its loose monetary policy that contributed to one of the strongest JPY depreciations in several years. This policy divergence made the GBPJPY
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The plunge in the lira to fresh record lows against the dollar is one of the more interesting events in markets this week, considering the lack of appetite as we wait on the Fed next week. USD/TRY has gone parabolic and is up over 7% again today to above 23.00 as the Turkish currency continues
Gold prices were flat on Wednesday as cautious traders awaited the U.S. Federal Reserve’s interest rate decision at its policy meeting next week, although a softer dollar kept the bullion supported. FUNDAMENTALS * Spot gold was little changed at $1,963.83 per ounce by 0027 GMT. U.S. gold futures were listless at $1,980.20. * The dollar
In this article GTLB Follow your favorite stocksCREATE FREE ACCOUNT People celebrate the Gitlab IPO at the Nasdaq, October 14, 2021. Source: Nasdaq GitLab shares rose 33% on Tuesday, after the provider of code-deployment software reported a narrower loss than analysts expected and bumped up its full-year forecast. The stock was headed for its best
Share: Economists at Credit Suisse analyze USD/INR outlook ahead of the Reserve Bank of India (RBI) meeting. RBI will intervene to enforce an 81.00-83.00 USD/INR trading range We still think RBI intervention is the main driver for the USD/INR exchange rate. The RBI has intervened at 81.00 and 83.00 since October 2022. The decision to
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Crypto exchange Binance.US responded to the new motion from the United States securities regulator seeking to freeze the assets of the U.S. crypto exchange “on an expedited basis.” In a Twitter post on June 6, Binance.US reiterated that “user assets remain safe and secure” and added the platform “continues to be fully operational with deposits
Euro plummets broadly in today’s market after a CB survey revealed significant drop in consumer inflation expectations. Sterling and Swiss Franc also recorded a generalized weakness. On the other hand, Australian Dollar held its ground as the day’s strongest currency, buoyed by an unexpected interest rate hike by RBA. The Canadian Dollar followed closely, though
The USDCHF is mired in a up-and-down type of market environment. The downside, there is decent support near 0.9025 and 0.9035 (a red numbered circles). On the topside, price action over last 5 trading days comes between 0.9113 and 0.9119 (see blue numbered circles). There had been moves above and below those areas (see red
The report is of two monkeypox cases detected in Beijing, which comes via Chinese state media. Given the “massaging” of data out of China I suspect the number is greater than two. I could be wrong. Via Global Times: Beijing has recently detected two cases of monkeypox. One is an imported case, while the other
Gold price climbed Rs 375 to Rs 60,775 per 10 gram in the national capital on Tuesday amid a rise in the precious metal’s prices in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 60,400 per 10 gram. Silver, however, fell by Rs 50 to Rs
The World Bank says global growth has sharply slowed amid ongoing high inflation and overhangs of the banking crisis result in worsening credit conditions. Growth forecasts for advanced economies project just 0.7% increase this year, down from 2.6% estimated growth in 2022. This marks “one of the weakest growth rates in the last five decades,”
Share: NZD/USD bulls are in riding the AUD´s coattails. Focus will turn domestic with NZ GDP coming up. NZD/USD has been range bound in the prior day following the Reserve Bank of Australia´s surprise hawkish hike. NZD/USD is steady in early Asia, sitting near 0.6075. ´´The Kiwi is little changed this morning and most crosses,
Australian Dollar surges broadly after surprised RBA rate hike. Tightening bias is also maintained, so more hike(s) could still be in the pipeline. The move in Aussie is taking other commodity currencies higher. Now, a focus will be on whether BoC would follow and surprises the markets too. At the other end of the spectrum,
Last Friday, the NFP report once again surpassed expectations, extending its impressive streak to 14 consecutive beats. However, delving into the report’s details reveals less favourable findings. The unemployment rate experienced a significant leap from 3.4% to 3.7%, marking the largest month-over-month increase since the pandemic began. Furthermore, there was a slight decrease in the
As the saying in markets goes, if something can’t go up on good news.. Well, that seems to be the case for oil as it not only erased the opening gap higher yesterday, but is now being pressured back towards the $70 mark today. It goes to show that while OPEC+ may want higher oil
Oil prices edged lower on Tuesday, giving up most of the prior session’s gains that followed an announcement by the world’s top exporter, Saudi Arabia, that it would further cut output. Brent crude futures were down 23 cents, or 0.3%, at $76.48 a barrel at 0020 GMT. The U.S. West Texas Intermediate crude eased 25