The Australian Dollar depreciates following the release of Trade Balance data on Thursday. Australia’s Trade Balance posted a surplus of 6,009 million MoM in July, against the expected 5,150 million. The US Dollar received downward pressure following recent downbeat economic data. The Australian Dollar (AUD) inches lower against the US Dollar (USD) despite positive Trade
The AUDUSD fell sharply yesterday breaking below a target support level near 0.6696. However, the break was short-term and the price reestablished support against the level before moving higher. The run higher extended back above its 100-bar moving average on the 4-hour chart at 0.67236, but ran into resistance sellers near a swing area between
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 your initial investment; do not
Ahead of the key US economic data and weakness in crude oil, Gold October futures contracts at MCX opened flat on Wednesday with a positive bias at Rs 71,449 per 10 gram, which is up by 0.1% or Rs 68 while silver December futures contracts were trading at Rs 83,183/kg, down by 0.08% or Rs
Risk aversion continues to dominate the global financial markets today, although the weakness in US futures has been relatively contained. While some volatility could arise from the US JOLTS labor market data, traders would largely be holding off for tomorrow’s ISM services data and Friday’s non-farm payroll report. As a result, market movements are expected
A trader signals an offer in the Standard & Poor’s 500 stock index futures pit at the CME Group in Chicago on Dec. 14, 2010. Scott Olson | Getty Images News | Getty Images The relationship between the 10- and 2-year Treasury yield briefly normalized Wednesday, reversing a classic recession indicator. Following economic news that
In this article DLTR Follow your favorite stocksCREATE FREE ACCOUNT A sign is posted in front of a Dollar Tree and Family Dollar store on March 13, 2024 in Rio Vista, California. Justin Sullivan | Getty Images Shares of Dollar Tree fell about 10% in premarket trading Wednesday after the discounter cut its full-year outlook,
Bank of Canada Governor Tiff Macklem is set to hold a press conference following the central bank’s third consecutive 25-basis point rate cut. [embedded content] Key Takeaways Inflation may bump up later in 2024; there is a risk that upward forces on inflation could be stronger than expected. Overall weakness in the Canadian economy is
The NZDUSD is trading to new lows as traders react today to risk-off sentiment as stocks/commodities slide. Concerns about growth in the US and CHna iare weighing on the pair. Recall from last week, the NZDUSD peaked on Thursday after a surprise ANZ Business confidence number (50.6 vs 27.1 estimate). However, since then the price
It looks like the bump higher during month-end last week was just that. Equities are starting to feel nervous again, with concerns surrounding Nvidia and tech resurfacing. It was brushed aside briefly after the earnings last week but added worries about global growth is perhaps also piling on top of things. The S&P 500 fell
Oil prices fell on Wednesday, extending the previous day’s more than 4% plunge, on expectations the political dispute that has halted Libyan exports may be resolved and concerns over lower global demand growth. Brent crude futures for November fell 28 cents, or 0.4%, to $73.47 at 0052 GMT after dropping 4.9% in the previous session.
Risk aversion swept across US markets overnight, with the selloff extending into Asian trading, driven by renewed fears of a recession. Weak US manufacturing data brought economic concerns back into focus, leading to a sharp 600-point drop in DOW and a more than 3.2% plunge in NASDAQ. The negative sentiment spread broadly across asset classes,
Indian Rupee trades flat in Wednesday’s Asian trading hours. Possible RBI interventions and lower crude oil prices might support the INR, while firmer USD could limit its upside. Investors await the HSBC India Services PMI on Wednesday for fresh impetus. The Indian Rupee (INR) holds steady on Wednesday. Traders remain vigilant for potential interventions from
The USDCAD is moving higher as focus for that pair is on the fall in commodity prices including the price of oil and the risk-off flows due to tumbling stocks in the US. Technicals have also played a role in the USDCADs rise to the upside after earlier in the day, the price moved back
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 your initial investment; do not
Oil prices dropped more than 3% on Tuesday after Bloomberg News reported that a deal was imminent to resolve a dispute that has halted Libyan production and exports, pushing prices to their lowest since around the beginning of the year. The news of more crude supply possibly returning to the market came as prices had
Yen staged a notable rebound today, joined by Dollar and Swiss Franc. In contrast, Australian Dollar is leading losses among commodity currencies. Risk-off mood appears to be taking hold, which is also evident in US futures, which point to a lower open as American markets return from the Labor Day holiday. Market participants seem to
Workers assemble second-generation R1 vehicles at electric auto maker Rivian’s manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | Reuters U.S. factories remained in slowdown mode in August, fueling fears about where the economy is headed, according to separate manufacturing gauges. The Institute for Supply Management monthly survey of purchasing managers