Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger ones for the week, but they only have a slim advantage over the greenback. Sterling is the worst, followed by
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In this article ETSY AMZN An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector
USD/CAD renews weekly low during three-day downtrend. EU sanctions on Russia challenge oil supplies, underpinning energy prices. Fed’s Powell triggered USD weakness by rejecting 75 bps rate hike expectations. Second-tier US data, risk catalysts will direct short-term moves ahead of Friday’s jobs report from the US and Canada. USD/CAD remains pressured around a one-week low,
Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date and even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support. Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to
The USDCAD has seen down and up price action today in a narrow trading range (around 49 pips). The high price reached during the last hourly bar, extended up into a swing area between 1.28467 to 1.2857. The price extended to 1.28526. The current price has moved back down to 1.2826 and in the process
Treasury Secretary Janet Yellen (and ex Fed Chairman) is speaking on economy saying: 1st quarter GDP was not a good read on the strength of the economy Consumer spending, business investment remains strong America is outperforming other countries Credit quality remains excellent, banks are well capitalized Inflation is too high, necessary to bring it down
New Delhi: Gold prices declined by Rs 134 to Rs 50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,735 per 10 grams. Silver also declined by Rs 169 to Rs 62,787 per kg
Major forex pairs are generally stuck inside yesterday’s range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are
People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth
In this article MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more
Gold prices continue to trade in subdued fashion in the $1860s with markets in wait-and-see mode pre-Fed. A hawkish surprise could send the precious metal under $1850 and towards its 200DMA in the $1830s. The fact that XAU/USD is in a bearish trend channel makes any rally more difficult. Spot gold (XAU/USD) prices are trading
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The USDJPY is taking a breather today with a 60 pip trading range. That is about half of the oversized 122 average over the last 22 trading days (about a month of trading days). The price action has been down, up, down and back up again. Looking at the hourly chart above, the lowest low
Strap yourselves in. It could be a wild ride once we get to the main event today. For now, there’s plenty of time to prepare for that. European trading today will be more of a placeholder as such, with little conviction to be really had – as has been the case for the week so
Gold prices edged lower on Wednesday, as an uptick in U.S. Treasury yields and an impending hike in interest rates by the U.S. Federal Reserve dented demand for zero-yield bullion. FUNDAMENTALS* Spot gold was down 0.1% at $1,865.31 per ounce, as of 0040 GMT. U.S. gold futures fell 0.2% to $1,866.10. * Benchmark U.S. 10-year
Australian Dollar rebounds broadly after the larger than expected rate hike by RBA, and takes up New Zealand Dollar too. But there is no clear follow through buying yet. Swiss Franc is currently the weakest one for the day, followed by Dollar and Yen. Apparently, overall development suggests steady risk sentiment, but that may not
Canned goods are displayed at a Safeway store on April 11, 2022 in San Anselmo, California. Justin Sullivan | Getty Images A measure that the Federal Reserve focuses on to gauge inflation rose in March, likely cementing the central bank’s intention to hike interest rates by half a percentage in May. The core personal consumption