NEW DELHI: Gold prices rose on Wednesday, going towards a three-week high scaled in the previous session, helped by a drop in US Treasury yields as investors awaited the minutes of the US Fed‘s June meeting for clues on policy outlook. The yellow metals posted mild gains in domestic markets. All eyes are set on
As widely anticipated, the RBA announced some changes in the monetary policy. The overall tone of the meeting and the policy statement is upbeat about the economic recovery while cautious over the uncertainty and subdued inflation. Policymakers remain optimistic over economic developments. As noted in the meeting, “the outlook for investment has improved and household
Sheng Songcheng, a former Director of the People’s Bank of China’s (PBOC) statistics department, called for a moderate rate cut in the second half of 2021, in order to ward off any risks from a potential economic slowdown and US rate hikes. Key quotes “China’s monetary policy should remain stable with a tilt to looser
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100 hour moving average at 1.3167 The GBPUSD took the clues from the technicals after early support near the 38.2% retracement held and the price rebounded back above its 200 hour moving average at 1.38515 (green line – see earlier post here). The price moved back below its 200 hour moving average, and then the
Surprise move The US Defense department is cancelling a $10B JEDI contract awarded to Microsoft. The Pentagon says that they seek a new multi-cloud , multi vendor contract. The Pentagon will seek proposals from both Amazon and Microsoft. They added that The JEDI contract now longer meets the requirements of the Dept of Defense capability
By Serene Cheong, Sharon Cho and Anthony Di Paola Saudi Arabia raised oil prices for buyers from Asia to the U.S. for August after OPEC+ talks broke down just as the market was clamoring for more supply. The Saudis, along with Russia, sought over the past week to rally other members around a plan to
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with Sterling. European stocks are trading mildly
USD/CAD gains almost two hundred pips from European session lows. Loonie among worst G10 performers, hit by reversal in crude oil prices. The USD/CAD rose further and reached at 1.2494 the highest intraday level since April 23. The combination of a stronger US dollar and the decline in crude oil prices boosted the pair. Sharp
Emin Gün Sirer, the creator of the Avalanche blockchain protocol, has said the current decline in crypto prices has not dampened his enthusiasm about the future of the market in general. Speaking to Cointelegraph China, Sirer drew from his “unique vantage point” to offer some of the behind-the-scenes goings-on concerning the growing level of interest
AUD/USD closes in on its 200-day moving average The pair is getting an inadvertent lift from a stronger kiwi but also a slightly weaker dollar as we get things going on the day. That is seeing buyers seize near-term control now and the upside push now touches the 200-day moving average (blue line) @ 0.7568.
RBA to announce its latest policy decision at 0430 GMT No change is expected to the cash rate so that isn’t going to offer much surprises to the market but keep an eye on the language – especially that on inflation/wages in case. The RBA is to deliberate whether to retain April 2024 bonds as
Gold prices were hovering close to a two-week high on Tuesday, helped by a subdued dollar, while investors awaited minutes from the US Federal Reserve‘s June policy meeting for more clarity on monetary policy going forward. FUNDAMENTALSSpot gold was steady at $1,792.34 per ounce by 0055 GMT, after hitting its highest since June 18 at
Dollar and Yen recover some ground in mixed Asian session today. Stocks in Japan and Hong Kong are slightly down by China and Singapore are steady. Much weaker than expected services data from China triggered little reactions. Swiss Franc is retreating against other major currencies but losses are limited. Commodity currencies are softening somewhat. With
The Reserve Bank of Australia (RBA) board members announced a no change to the official cash rate (OCR), leaving it at a record low of 0.10% at their July monetary policy meeting, more to come … About RBA rate decision RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about
A website aiming to support the development of Bitcoin has reportedly been hit with a DDoS attack. Cøbra, the pseudonymous owner of Bitcoin.org, reported on Twitter today that the website had been hit with an “absolutely massive” distributed denial of service, or DDoS, attack along with a ransom demand for an undisclosed amount of Bitcoin