AUD/USD is about to finish the week with losses of 1.10%. A bearish-engulfing candle pattern and the RSI’s crossing below 50 are two reasons that could tumble the AUD/USD. AUD/USD sellers eye a break below 0.6900, on its way towards 0.6800. The AUD/USD drops substantially, courtesy of upbeat US economic data, which sent the major
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Gold prices firmed on Friday to hover near a one-month high, as a retreat in dollar and U.S. Treasury yields and growing recession fears boosted demand, keeping the safe-haven metal on track for its third straight weekly rise. FUNDAMENTALS * Spot gold was up 0.2% at $1,793.88 per ounce, as of 0054 GMT, after hitting
The US 10 year yield is moving to a new high at 2.869%. The current yield is at 2.853% as I type. That high has taken the yield to a new high for the week surpassing the 2.849% level reached on Wednesday. The high yield reached 2.869%. The current yield is trading at 2.853%. The
The major stock indices are closing the day with mixed results: Dow industrial average rose 76.63 points or 0.23% at 32803.48 S&P index fell -6.75 points at -0.16% at 4145.18 NASDAQ index fell -63.02 points at -0.50% at 12657.56 Russell 2000 gain 15.36 points or 0.81% at 1921.82 The NASDAQ index snapped a two day
The strong set of job market data seemed to have cleared much concern over recession in the US, and set the tone for the financial markets. Benchmark treasury yields jumped as traders added bets on Fed continuing with the current pace of tightening beyond neutral. Stocks markets were resiliently firm despite that and look set
Commuters arrive at Grand Central station during morning rush hour in New York, Nov. 18, 2021. Jeenah Moon | Bloomberg | Getty Images The U.S. job market posted strong growth and a decline in unemployment in July, but unemployment ticked higher among Black workers, further underscoring the ongoing discrepancies within the job market. Friday’s data
In this article UBER Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever. Shares of Uber closed the day up 18.9%. Here are the key numbers: Loss per share: $1.33, not comparable to estimates. Revenue: $8.07 billion vs.
At its latest meeting, the Reserve Bank of Australia (RBA) raised the key interest rate by 50 basis points to 1.85%. According to analysts at Wells Fargo, the RBA will likely raise again in September but with a 25 bps rate hike. They see the rate peak at 3.10% by early next year. Key Quotes:
Gold in the national capital on Friday was marginally down by Rs 9 to Rs 52,592 per 10 grams, according to HDFC Securities. The yellow metal had closed at Rs 52,601 per 10 grams in the previous trade. Silver also declined by Rs 487 to Rs 58,477 per kg from Rs 58,964 per kg in
USD/JPY longs have been the trade-of-the-year in the FX market in 2022 and today’s strong jobs numbers make it more likely the trend isn’t over yet. The pair is up a whopping 220 pips today to 135.06. The gain wipes out much of a brutal four-day drop in the pair. Technically, it cracks the 61.8%
In a market environment where bad news is good news, 528K new jobs (vs 250K estimate), unemployment rate of 3.5% vs. 3.6% estimate, average hourly earnings 0.5% vs. 0.3% estimate (and a revision to the priro month to 0.4% from 0.3%), average workweek 34.6% vs. 34.5% estimates, that is not exactly bad news. In fact
Dollar soars broadly, together with benchmark treasury yields, after an all around strong non-farm payroll report. At the same times US futures tumble, apparently on expectations Fed’s tightening pace will continue with such healthy job market. The greenback is now the strongest one for the week and the question is, whether it could break through
A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an
In this article JBLU JetBlue Airways Airbus A320 passenger aircraft landing at John F. Kennedy International Airport in New York City. Nik Oiko | LightRocket | Getty Images JetBlue Airways shares tumbled more than 6% Tuesday after a surge in costs drove it to another quarterly loss just as it plans its takeover of Spirit
Gold price extends its gains to three straight weeks, up 0.54%. Stellar US jobs data exerts further pressure on the Fed, as next week CPI is eyed. US-China tussles add further uncertainty to the global economic outlook. Gold price remained on the defensive late during the New York session after an early US employment report