Meme stocks had a big turnaround Shares of AMC went for a wild ride today in the latest meme stock mania. The company closed Thursday at $26.75 then soared to $36.72 at the open before turning around to finish 1.5% lower at $26.12. Shares of GME finished 12.6% lower after opening 3% higher as well.
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Gold reversed course and turned positive on Friday, briefly popping above the key $1,900 level, after data showed US consumer prices surged in April and boosted bullion‘s appeal as an inflation hedge. Spot gold rose 0.1% to $1,896.96 per ounce by 12:10 p.m. EDT (1610 GMT), having earlier dipped as much as 0.8%. It is
Dollar surges in early US session as boosted by stronger than expected inflation readings. Indeed, the core PCE inflation hit the highest level since 1991. With the current buying momentum, the greenback is likely to end the week on a high note, with prospect of closing as the strongest. On the other hand, commodity currencies
Daily thread to exchange ideas and to share your thoughts European trading is likely to shape up as a countdown to the US PCE data release later in the day, as the market will watch for any signs to get the inflation debate started once again after a more lackluster week for the most part. Equities and
Goldman Sachs said it no longer saw China as the center of commodities pricing, reasoning the pace of demand recovery in developed markets suggested Beijing as a buyer has been crowded out by Western consumers. “The bullish commodity thesis is neither about Chinese speculators nor Chinese demand growth. It is about scarcity and the DM-led
Yen’s selling took off overnight, following rebound in treasury yields. Weakness is somewhat solidified in Asian session, together with the strong rebound in Nikkei. With some technical levels broken, Yen’s decline could extend before weekly close, and it’d likely end as the worst performing one. As for the week, Canadian Dollar is currently the second
None of these are likely to move FX much upon release. 2200 GMT New Zealand – ANZ Consumer Confidence Index for May prior +4.2% m/m to 115.4 2301 GMT UK – Lloyds business barometer for May 2330 GMT Tokyo inflation data for May – Tokyo area CPI (national level CPI for the month follows in
NEW YORK: prices were steady on Thursday, bolstered by strong US economic data that offset investors’ concerns about the potential for a rise in Iranian supplies. Brent fell 2 cents to $68.85 a barrel by 10:52 a.m. EDT (1452 GMT). US West Texas Intermediate (WTI) crude was unchanged at $66.21 a barrel. The number of
Sterling jumps broadly today as a BoE officials indicated that rate hike could come next year. UK Prime Minister Boris Johnson also said there is nothing in data that suggests a delay to reopening on June 21, even though some more time is needed to assess the situation. Nevertheless, Canadian Dollar is even stronger for
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW DELHI: Gold prices retreated from its four and half month high on Thursday, hurt by an uptick in the US dollar and bond yields, while investors awaited key economic readings out of the United States this week. Domestic markets, too, witnessed a muted trade. The dollar index rose to a one-week high against rivals,
Overall markets are mixed for now, except the clear strength in New Zealand Dollar this week. While Aussie is also trading higher against others, it’s lagging Kiwi by a mile. Dollar recovered overnight but once again lost momentum quickly. Canadian Dollar has also found some footing after yesterday’s pull back. In other markets, Asia markets
USD/JPY up 38 pips to 109.16 Credit Suisse discusses USD/JPY technical outlook and adopts a neutral bias in the near-term. “Below the 108.57 recent low though remains needed to mark a confirmed break of the uptrend from January to raise the prospect of further weakness within the broader sideways range with resistance seen next at
NEW DELHI: Copper prices on Wednesday traded up by 0.41 per cent at Rs 748.30 per kg in the futures market on the back of a pickup in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by Rs 3.05, or 0.41 per cent, at Rs 748.30 per
Following a weak first quarter, the strength in EURUSD has gathered momentum. The pair is the second strongest among majors quarter-to-date. A more upbeat economic outlook, heightened inflation forecasts and expectations of ECB’s tapering are key driving forces of the recent rally. Indicators Pointing to Stronger 2Q21 Leading indicators have pointed to an upbeat 2Q21.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW DELHI: Gold prices held firm near a four and a half month high on Wednesday as a drop in US Treasury yields and a weaker dollar supported the safe-haven metal. Back home, precious metals followed the global trends, gaining in early trade. The dollar index was pinned near a 4-1/2-month low against its rivals,
The RBNZ delivered a less dovish message in May than a month ago. While leaving all monetary policy measures unchanged, it upgraded the inflation forecast and revised lower the unemployment rate. The central bank also pushed forward the first rate hike to 3Q22. Kiwi rallied to highest since February after the news. While the uncertainty