Oil rose more than 1% on Thursday supported by optimism over China’s demand outlook and hopes that upcoming inflation data from the United States will point to a slower increase in interest rates. Top oil importer China is reopening its economy after the end of strict COVID-19 curbs, boosting optimism that demand for fuel will
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Dollar declines sharply after US data showed consumer inflation slowed notably in December as expected. The development reinforces expectation for Fed to further slowdown tightening in February with a 25bps hike. Yen is so far the strongest one for the day, as lifted by decline in US and European benchmark yields. Australian Dollar is leading
A man pumps gas at a gas station in the Brooklyn borough of New York, the United States, Dec. 13, 2022. Michael Nagle | Xinhua News Agency | Getty Images December’s monthly decline in the consumer price index gets the Federal Reserve a step closer to beating inflation, though they’re highly unlikely to signal an
In this article AAL Follow your favorite stocksCREATE FREE ACCOUNT American Airlines shares were up more than 8% in afternoon trading on Thursday after the carrier hiked its revenue and profit estimates for the fourth quarter thanks to strong demand and high fares. Other airlines’ shares also rallied. American said in a securities filing it
AUD/USD breakout traders target 0.70 the figure and above. Failures to hold in 0.7000 could lead to the capitulation of the bulls. As per the prior analysis, AUD/USD Price Analysis: Distribution could be playing out into US CPI critical event, a thesis for the downside was illustrated leading up to the US Consumer Price Index event
A new crypto wallet address scam that tries to take advantage of user carelessness has been on the rise, according to the MetaMask team. In an announcement, digital wallet provider MetaMask warned users of an “address poisoning scam,” where attackers “poison” transaction histories by sending users tokens worth $0 to their wallets. The scammers will
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As the clock ticks to the close, the S&P index is trading near the high for the day. The index is up 40.71 points or 1.05% at 3960.17. Looking at the daily chart, recall from last Friday, the price closed back above its 100 day MA for the first time since December 14. ON Monday
It’s all about the US CPI data today but this is a market that is wanting a softer number, if the recent dollar and risk mood is anything to go by. EUR/USD is staying more tentative upon its latest breakout attempt above 1.0700 with AUD/USD also cautious in making its way towards the 0.7000 mark.
Commodity prices — and especially crude oil — will hinge on China’s reopening after Lunar New Year celebrations later this month, according to Goldman Sachs Group Inc. “What is the best reopening play? It is oil,” Jeff Currie, the bank’s global head of commodities research said in a Bloomberg Television interview Wednesday. “What is idled?
At this point so far, Euro is the strongest one for the week, while Swiss Franc is the weakest, thanks to the upside breakout and rally yesterday. Dollar is more on the soft side too but there is still no clear follow through selling after the decline on Monday. Apparently, traders are still holding their
The Bank of Korea (BoK) will hold its Monetary Policy Committee (MPC) meeting on Friday, January 13 at 01:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of five major banks. BoK is expected to hike rates by 25 basis points to
The EURJPY has been up 5 of the last 6 trading days since bottoming on January 3rd at 137.377. That is a rise of 544 pips. The high price reached 142.85. That sniffed the 100 day MA at 143.026. The price high today also tested the December 28 high at 142.926. Getting above both of
Thursday’s CPI report is the highlight of the week and the final one before the Feb 1 FOMC decision. The consensus is for a fall 6.5% y/y from 7.1% as the numbers continue to retreat from above 9% in the scary June report. Equally important is the month-over-month trend, which is expected to show a
Gold price jumped by Rs 89 to Rs 56,126 per 10 gram in the national capital on Wednesday amid gains in rates of the precious metal globally, according to Securities. In the previous trade, the yellow metal had settled at Rs 56,037 per 10 gram. Silver also rose Rs 677 to Rs 69,218 per kilogram.
EUR/CHF is providing some excitement in otherwise dull markets today. The cross finally breaks out from the sideway pattern started back in October. Some buying is also seen in Euro against Sterling and Aussie, but it’s staying in very tight range against the greenback. Indeed, Euro and Dollar are currently the strongest ones for the