I’m skeptical of price action around quarter-end so I don’t want to pile on here but if I were to pile on I’d say: Europe is an uninvestible sinkhole of economic growth that’s more concerned with consolidating political power around a United States of Europe and social/green investment than in winning any kind of race.
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With month-end and quarter-end out of the way, we can finally try to settle back into more familiar trading narratives but the long weekend coming up in US may make for a bit of a tougher time to grasp flows today. Nonetheless, equities are picking up from where they left off in 1H 2022 as
Gold prices edged lower on Friday, and were on track for a third straight weekly decline, as rising U.S. Treasury yields weighed on demand for zero-yield bullion. FUNDAMENTALS * Spot gold was down 0.1% at $1,805.39 per ounce, as of 0103 GMT, after hitting a more than six-week low of $1,801.50 in the previous session.
Swiss Franc remains the runaway leader for the week so far. Dollar and Canadian are competing for the second place. On the other hand, New Zealand Dollar is the worst, followed by Sterling and then Euro. Yen is mixed for now. Overall market sentiment is indecisive with stocks lacking follow through buying to the near
In this article RH Jason Kempin | Getty Images Entertainment | Getty Images High-end furniture chain RH on Wednesday slashed its outlook for 2022 revenue, anticipating consumer demand for its products will continue to soften in the back half of the year. The company now sees annual sales down between 2% and 5%, compared with
A double top formation strengthens the odds of a bearish reversal in the asset. An establishment below the 20-and 50-period EMAs adds to the downside filters. The RSI (14) is attempting to shift into the bearish range of 20.00-40.00. The USD/JPY pair has witnessed a significant fall after violating the crucial support of 135.55 in
In a small coastal town just north of Brisbane, Queensland, 20 members of the Coolum Surf Club have been taking part in an initial trial of the Erth Point System, a crypto rewards platform from the Australian company Rewards4Earth. Doug Flockhart, former CEO of Clubs Queensland, the body for community clubs in the state, spoke
Me and Eamonn both highlighted the bearish outside day in oil yesterday and it’s coming to pass. There was a bearish outside day yesterday and it came after a test of the 50-61.8% fibonacci retracement level of the June swoon. OPEC+ today was a non-factor as it endorsed the August production hike that was already
This is the first dip into negative territory and it’s a big dip. You could see this coming after yesterday’s Q1 GDP revisions. The consumption numbers in today’s PCE report were also poor. The release: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -1.0
New York: The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fuelled inflation plaguing the global economy. The increase of 648,000 barrels per day in August leaves the world thirsty for oil
Euro is under broad-based pressure today as selloff against Swiss Franc spreads to other pairs. Yen is currently the best performer following another round of pull back in Germany, and to a lesser extent US, benchmark yields. Aussie and Kiwi are also recovering while Dollar is firm. But for the week, Swiss Franc is still
The Walgreens store at State and Randolph Streets in Chicago. Nancy Stone | Chicago Tribune | Tribune News Service via Getty Images Walgreens Boots Alliance on Thursday reported quarterly sales and earnings that came in above expectations as it grew online sales and continued to administer Covid-19 vaccines. The drugstore chain stood by its outlook
USD/MXN turns negative, after hitting weekly highs near 20.30. A recovery in market sentiment helped the Mexican peso during the American session. A consolidation above 20.20 is likely to trigger more gains. Emerging market currencies recovered ground during the American session from multi-day lows. They remain under pressure affected by the sharp decline in global
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The headline is from ING’s take on today’s POMIC data from China. ICYMI, the data is here: ING remarks (in brief): The rebound of the non-manufacturing PMI to 54.7 in June from 47.8 in May was mainly due to more construction activity (the PMI for which was 56.6, up from 52.2 in May), This indicates