Ray Dalio, founder of Bridgewater Associates LP, speaks during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022. Bloomberg | Bloomberg | Getty Images The financial market turmoil resulting from the U.K. government’s spending plan “suggests incompetence,” according to billionaire investor Ray Dalio. “I
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NZD/USD bulls have moved in as the US dollar sells off into month end. The greenback and US yields were underwater on Wednesday and the high beta currencies took off. NZD/USD rallied on Wednesday following a strong sell-off in the US dollar as the month-end approaches. NZD/USD rallied by some 1.8% from a low of
The AUDUSD is testing the lows from yesterday at 0.64377. Looking at the weekly chart below, that low took the pair below the 61.8% of the move up from the 2020 low to the high reached in 2021 at 0.64615. After a move higher today took the pair back above that retracement level, the sellers
10-year Treasury yields are at their highest since October 2008, briefly crossing 4% in European morning trade as the pressure on the bond market continues to mount. I shared some thoughts about the situation yesterday here as to how the threat of financial dislocations isn’t just stemming from the UK alone at the moment. 10-year
Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. * U.S. gold futures dipped 0.2% to $1,632.4. * The
Risk-off sentiment dominates Asian markets today, as the Chinese Yuan’s free fall accelerates. The steep depreciation could limit the room for the government to ease monetary policy further to help the economy that’s still troubled by pandemic measures. Yen and Dollar are currently the stronger ones in the currency markets, followed by Swiss Franc. Kiwi
Lego Star Wars toys sit on display inside a Toys “R” Us Inc. store in Paramus, New Jersey, U.S., on Tuesday, Nov. 26, 2019. Bloomberg | Getty Images Lego sales are building on pandemic-era growth, boosted by popular sets from Lego Star Wars and Lego Harry Potter. On Wednesday, the privately held Danish toymaker said
USD/JPY struggles to gain any meaningful traction and remains confined in a range. A combination of factors underpins the JPY and acts as a headwind for the major. The Fed-BoJ policy divergence, relentless USD buying continue to extend support. The USD/JPY pair extends its consolidative price move and remains confined in the 144.50-145.00 broader trading
Crypto exchange FTX, led by crypto billionaire Sam Bankman-Fried (SBF), is reportedly considering bailing out Celsius Network by bidding on the bankrupt lender’s assets. Coincidently, the information came out the same day Alex Mashinsky resigned as the CEO of Celsius. “I regret that my continued role as CEO has become an increasing distraction, and I
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This is my extracted commentary from this mornings technical video. If you want to learn about analyzing the market price action, I think it has some lessons. I will explain more below. Take a look at the video first. Lesson 1. Know what the bias is. Yes.. the price moved higher today, but overall, the
US Treasury Secretary Yellen: Financial markets are operating normally, doesn’t see erratic financial market conditions says she doesn’t see any liquidity or deleveraging issues current conditions are tighter as a result of the battle against inflation US Treasury is monitoring market conditions closely Yellen is right. Yeah, its volatile. It always is on the exit
New Delhi, Capital markets regulator Sebi on Tuesday came out with a new framework for daily price limit for commodity futures contracts in a bid to resolve the difference in closing price at domestic exchange and global bourse. The Daily Price Limits (DPLs) define the maximum range within which the price of a commodity futures
Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year yield’s reaction to 4% handle, and
What you need to take care of on Wednesday, September 28: Dollar buying paused early Tuesday but resumed following the release of better-than-expected US data, also helped by the poor performance of Wall Street. In addition, fears of a worldwide recession keep leading the market sentiment. During the European morning, European Central Bank President Christine
The major US indices are opening lower, but off the pre-market lows as yields in the US come off after reaching 3.829% in the 10 year (now at 3.703%), and 4.268% in the 2 year (now at 4.137%). The Fed is targeting 4.4% for the end of year level. The stocks have seen some rebound