Dollar is trading broadly higher in Asian session today, as supported by extended rally in US treasury yield. For the same reason, Yen tumbles broadly this week, and the decline is extending. The net result is that USD/JPY reached a new 24-year high and still looks unstoppable. Canadian Dollar is trading with a mixed tone
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In this article GME SAN RAFAEL, CALIFORNIA – DECEMBER 08: Customers enter a GameStop store on December 08, 2021 in San Rafael, California. Video game retailer GameStop will report third quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images) Justin Sullivan | Getty Images News | Getty Images GameStop said Wednesday that
Goldman Sachs economists led by Jan Hatzius, in a research note on Thursday, rasied their forecasts for the Fed’s tightening pace. Key takeaways “Now expect the Fed to hike by 75 basis points this month and 50 basis points in November, up from their previous forecasts of 50 basis points and 25 basis points respectively.”
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The EURUSD has moved above the 100 hour MA at 0.99351 (see blue line in the chart above). Getting above (and staying above) is a short term positive for the pair. On the topside, the 0.99515 level is the old July low that is so far stalling the move higher. A break above that will
The EIA raises 2022 demand forecast by 20,000 bpd to +2.10mbpd y/y Cuts 2023 demand growth by 90k bpd to 1.97 mbpd y/y Sees 2022 US output of 11.79 mbpd up 540kbpd this year vs +610k prior Output to rise 840k bpd in 2023 to 12.63mbpd 2023 US demand to rise 350k vs 410k last
Oil tumbled to the lowest since January as a dollar surge and global demand concerns weigh on prices despite the threat of disruption to Russian supplies. US benchmark West Texas Intermediate sank below $85 while the global Brent benchmark fell below $90. A dollar gauge reached an all-time high on Wednesday, offering a macro headwind
Canadian Dollar is steady in early US session after BoC delivered 75bps rate hike and maintained hawkish bias. Dollar remains the strongest one for the week, but continues to pick up momentum against Euro. Yen is still the runaway loser, while selloff in Sterling is intensifying. Aussie and Kiwi are clearly weighed down by risk-off
In this article NIO Employees stand next to a ET7 sedan at a NIO Inc. dealership in Shanghai, China, on Wednesday, June 8, 2022. Qilai Shen | Bloomberg | Getty Images Chinese electric vehicle maker Nio had a loss of $409.8 million in the second quarter, representing significantly widening losses, despite deliveries that surpassed year-ago
USD/CHF retraces from weekly highs and dives below the 0.9800 figure due to a risk-on impulse. A triple-top chart pattern in the 4-hour chart keeps the USD/CHF under some selling pressure, targeting a fall to 0.9660. USD/CHF slides from weekly highs reached at around 0.9869 on Wednesday, despite risk appetite improving, which usually benefits riskier
Thailand’s Securities and Exchange Commission, or SEC, has accused crypto exchange Zipmex and its co-founder Akalarp Yimwilai of non-compliance with local laws and referred the matter to the police. In a Wednesday announcement, the Thai SEC alleged Zipmex had not provided information on digital wallets and crypto transactions in compliance with the country’s Digital Assets
The USDJPY is on fire today and that is also helping to send the JPY crosses higher as well. The EURJPY is not the exception. Looking at the daily chart, the air moved back above its 100 day moving average last week (see blue line in the chart above). That moving average currently comes in
It is still all about the dollar right now as we are seeing a further capitulation in the yen and a further decline in the yuan – both of which are fueling further gains in the greenback this week. The US currency is running hot and is higher across the board once more, threatening to
NEW DELHI: Gold prices fell sharply on Wednesday, thanks to rising bond yields and a firm US dollar. Further, economic data bolstered expectations of another rate hike by the US Fed. The dollar index was up, inching closer to the two-decade peak scaled in the previous session, making gold more expensive for overseas buyers. The
The downside breakout in EUR/USD is finally here as markets focus turns to meetings of RBA, BoC and ECB. Dollar is rising broadly, and risk-off sentiment takes Yen and Swiss Franc higher too. Euro is starting to reverse some of last week’s gain while Sterling is staying weak. Commodity currencies are currently mixed for now.
USD/INR picks up bids to reverse the previous day’s losses. DXY refreshes 24-year high as Fed Fund Futures hint at 75% chance of 0.75% rate hike in September. Rupee traders fail to praise Indian FinMin optimism amid recession woes. Reuters poll suggests more trouble for INR, focus on Fedspeak. USD/INR prints mild gains around 79.95
Forex market is open 24 hours a day and 5 days a week. However, it does not mean it is always active. Let us check what a 24-hour day in the forex world looks like. The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session and