The snapshot of the market just ahead of the Fed decision saw: Spot gold is trading down $18.50 or -1% at $1829.40 Spot silver is trading down one cent or -0.06% at $23.77 WTI crude oil is trading up $1.74 at $87.34 Bitcoin is trading at $38,096 2 year yield is at 1.03% 5 year
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Canadian Dollar tumbles notably in early US session after much less hawkish then expected BoC rate decision. The central bank stands pat while lowering both inflation and growth forecasts. Elsewhere in the currency markets, Yen is trading broadly lower with Swiss Franc as stock markets are staging a strong rebound. Meanwhile, Aussie is also trying
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NEW YORK: Oil touched $90 a barrel for the first time in seven years on Wednesday, supported by tight supply and rising political tensions in Europe and the Middle East that raised concerns about further disruption in an already-tight market. Brent crude rose $1.67, or 1.9 per cent, to $89.87 by 10:40 a.m. EST (1540
A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago. Prices rose 18.8% year over year on the S&P CoreLogic Case-Shiller National Home Price Index. Yet that was
In this article BA An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images Boeing took a $3.5 billion pre-tax charge on its 787 Dreamliners after production issues prevented the company from delivering the planes to airlines for
In his post-BoC policy announcement/Monetary Policy Report release press conference on Wednesday, Governor Tiff Macklem said that interest rates will have to go up to counter inflation. Canadians should expect a rising path of interest rates, given the BoC is committed to bringing inflation back to target. Additional Remarks: “There is some uncertainty about how
The EURUSD moved down to test a swing area between 1.1260 to 1.1263 (see earlier post) and found risk focused traders willing to stick a toe in the water (with stops below). The price has moved back above the broken trend line and 1.1285 swing area, and has seen more upside probing (as expected from
Markets are relatively steady in Asian today, as traders are awaiting main events of BoC and Fed policy decisions. Asian stocks are treading water after weaker close in US overnight. Dollar remains the strongest one for the week, followed by Yen and then Canadian. Swiss Franc is currently the weakest, followed by New Zealand Dollar
NFL Star Odell Beckham Jr’s (OBJ) decision to take his $750,000 salary in Bitcoin appears to have cost him dearly due to the market crash after he signed the deal. Owing to the vagaries of cryptocurrency tax laws and current prices, OBJ is estimated by some to have made 61% less than if he’d taken
The decision in itself will be more straightforward as the Fed is to keep rates unchanged and wrap up QE. One would think this might be a non-event but given recent market developments, a lot will hinge on whether or not the Fed offers anything for investors to grasp at. It will not take much
Gold prices were steady on Wednesday as investors refrained from making big bets ahead of a U.S. central bank decision on the pace of policy tightening, while anxiety over Ukraine kept bullion supported near the previous session’s 10-week high. Spot gold held its ground at $1,846.87 per ounce, as of 0325 GMT, after hitting its
U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022. Graeme Jennings | Reuters The Federal Reserve is expected to say this week it is moving forward with interest rate hikes and considering other policy
In this article MSFT Microsoft reported better-than-expected earnings and revenue for the fiscal second quarter. The stock dropped in extended trading. Here’s how the company did: Earnings: $2.48 per share, adjusted, vs. $2.31 per share as expected by analysts, according to Refinitiv. Revenue: $51.73 billion, vs. $50.88 billion as expected by analysts, according to Refinitiv.
GBP/USD fades corrective pullback from three-week low, indecisive during Asia. France reissues legal threat to UK over fishing issues, EU’s Sefcovic ‘frustrated’ over Brexit deadlock. The UK eases covid-linked restrictions on international arrivals, PM Johnson awaits Tory reaction to ‘Partygate’. Fed, BOE both expected to turn hawkish but today is the FOMC day and hence
The Dow tumbled over 800 points. Yesterday, the index fell over 1000 points. And for the 2nd day in a row, the losses have been erased.The Dow currently trades up about 50 points or 0.16% at 34417. The high price reached 34431.56. Looking at the daily chart, the down did reach down -10.25% from the