Sentiment across the cryptocurrency market plunged even deeper on May 9 as an escalation in the ongoing sell-off intensified with bears pushing Bitcoin (BTC) to $30,334, its lowest price since July 2021. Multiple factors like rising interest rates, the end of easy money policies by the Federal Reserve, declining stock prices and concerns related to
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It’s a brutal backdrop in markets with stocks down 5 weeks including nearly 20% drop in the Nasdaq. Yet when you look at a chart like this, it looks like it could get much worse. USD/CAD has been consolidating in the 1.23-1.29 range since August but may be breaking out to the upside today. It
Bank of America Global Research discusses the seasonality trade for the USD in 2022. “The DXY has gained around 8% year-to-date. We find the USD has made most (4.1%) of its gains in 2022 on Thursdays and Fridays. Cumulative USD return for Thursdays and Fridays was respectively 1.9% and 2.2%. At the same time, the
New Delhi: Gold prices have been on a downtrend as rising interest rates are pushing the bond yields higher, diminishing the appeal of the yellow metal. After hitting a peak of Rs 53,600 on April 18, the yellow metal has dropped about Rs 2,000 per 10 grams in the domestic market. However, gold has not
Risk aversion is the theme of the day, with major European indexes trading in red, while US futures are also diving. Australian Dollar is leading other commodity currencies lower. While Dollar is firm, it’s losing some momentum entering into US session. In particular, the greenback is retreating after failing to break through a near term
A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Consumers grew a little more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations
In this article RUN Sunrun employee Gonzalo Najera carries a solar panel before installation at a home in Alamo, Calif., May 17, 2021. Scott Strazzante | San Francisco Chronicle | Hearst Newspapers | Getty Images Sunrun shares jumped 11% during extended trading Wednesday after the company posted first-quarter earnings results, including a 39% increase in
US dollar losses strength as US yields drop from multi-year highs. DXY hits fresh lows on American hours, backs away from the fresh multi-year high. The USD/JPY rose earlier on Monday to 131.34, reaching the highest level since 2002 and then lost strength. During the American session, it turned to the downside and recently accelerated
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The GBPUSD continued its move lower today. The price traded to the lowest level since June 2020 with a new low of 1.2277. That got close to the June 29/June 30 lows between 1.2250 and 1.2256, but early buyers against that next key support target have pushed the price back higher. The current price trades
The dollar is continuing its rampaging form as the post-FOMC dip has been rather short-lived. AUD/USD saw a bounce then to test its 100-day moving average (red line) but that was where sellers leaned on to produce a comeback and we’re now seeing price test waters below 0.7000 for the first time since the end
NEW DELHI: Gold prices dropped marginally on Monday as a strong dollar dented the demand for the yellow metal. The rise in Treasury yields also hit sentiments. The dollar firmed to 20-year highs against its rivals, making greenback-priced bullion less attractive for other currency holders, whereas the Indian currency hit a new lifetime low at
Markets open the week with risk-off sentiment, in particular in Japan. Australian and New Zealand Dollar are trading broadly lower as a result. On the other hand, Dollar is rising broadly. European majors are mixed together with Yen and Canadian. Technically, however, bother EUR/USD and USD/JPY are still bounded in established range even though Dollar
Shell posted adjusted earnings of $9.1 billion for the first quarter of 2022. Ben Stansall | Afp | Getty Images LONDON — Oil giant Shell on Thursday reported its highest quarterly profit since 2008 on soaring commodity prices, fueling calls for a one-off windfall tax on oil and gas companies to help U.K. households with
Iron ore Futures in China dropped 6.0% as demand from the largest user deteriorates in April. Global growth fears, a firmer USD also weighs on the commodity’s prices. Iron ore prices on the Dalian Commodity Exchange not only fail to extend Friday’s corrective pullback but also drops more 6.0% while taking offers towards $124.00 heading
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