Euro ended as the worst performer last week on increasing worries of a deeper and longer recession. Selloff in the common currency also dragged down Swiss Franc, which ended as the second worst. Sterling was originally pressured by stabilized after UK Prime Minister Boris Johnson announced to step down after another scandal. But Yen was
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The USD/JPY has been trading in a choppy 100 pip range for the last five days. The major seesawed spurred by the assassination of Japan’s ex-PM Abe and upbeat US economic data. USD/JPY Price Analysis: Range-bound, but the RSI’s aiming lower and USD/JPY uptrend overextended, might pave the way for further downside. USD/JPY is subdued as
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The price of WTI crude oil is settling at $104.58, up $2.06 or 2.01%. The low for the day reached $101.54. The high reached $105.21. A week ago, the price closed the week at $108.48. The low this week reached $95.13 on Wednesday. The high reached $111.42 on Tuesday. Looking at the hourly chart, the
The US jobs report added 372K new jobs in June. That was higher than the 268K estimate. Admittedly, there was a revision of -74K over the last two months (with May revised to 384K from 390K). Nevertheless, if the current month was adjusted for that number, a net addition of 298K (372K – 74K revision)
India Gold August futures were trading higher on Friday tracking the positive trend seen in the international spot prices as the dollar came slightly off two-decade highs. Despite the pullback, bullion is set to post its biggest weekly drop in more than a month as the elevated greenback hit demand, said a Reuters report. Gold
Recession fear is currently the main theme in the markets, with Euro and Sterling hardest hit in the currency markets. Canadian Dollar is somewhat a distant third weakest, as dragged down by oil prices. Nevertheless, Aussie and Kiwi are relatively resilient. Yen and Dollar are at par in strength for now. But they could soon
Wall Street turns positive on Friday, helping MXN. US jobs report shows better-than-expected numbers. USD/MXN corrects lower, the trend is still bullish. The USD/MXN is modestly lower on Friday still up for the week. It bottomed at 20.36, a three-day low before bouncing to the 20.45 zone. The outlook remains bullish for the pair. Fed
In an unexpected turn of events, Tesla CEO Elon Musk announced his intention to end the $44 billion Twitter deal via a letter sent to the board of the social media giant. In short, the world’s richest man is not happy with the lack of information Twitter provided about spam and fake accounts. According to
During the week, the Swiss franc is still under heavy pressure, losing more than 2%. Broad US dollar strength across the board underpins the USD/CHF. USD/CHF Price Analysis: The pave towards parity is clear, but 0.9800 and 0.9975 are still on the way for USD/CHF buyers; otherwise, a re-test of 0.9700 is on the cards.
The AUDUSD moved up to test the 38.2% of the move down from the June 16 high as the London fix was approaching. However, the price stalled ahead of that level at 0.6878 (the high reached 0.6874) and the price has since moved back below the 200 hour MA at 0.68452. Looking at the hourly
A commonly-heard refrain from those lamenting inflation is that the government gave workers too much money during the pandemic and that ‘nobody wants to work anymore’. Well workers weren’t the only ones who benefited from government largess. The enormous $800 billion Paycheck Protection Program — the largest and fastest of Washington bailouts — was a
Copper retreated in London on Friday and was on track for its fifth straight weekly loss, as worries about COVID-19 curbs in China outweighed hopes for stimulus for the top metals consumer. Three-month copper on the London Metal Exchange fell 0.5% to $7,780 a tonne by 0428 GMT. On the Shanghai Futures Exchange, the most-traded
Dollar rises in early US session after stronger than expected non-farm payroll data. It’s also supported by extended rebound in 10-year yield, which reclaims 3%. Euro also follows German yield higher. On the other hand, Canadian Dollar turns softer after poor employment data. Yen is mixed after the tragic death of former Prime Minister Shinzo
A sign is posted in front of the Levi Strauss & Co. headquarters on April 09, 2021 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Levi Strauss on Thursday reported quarterly revenue and earnings that came in above Wall Street expectations, as the clothing company known for its denim said
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