USD/JPY weakens to near 146.05 in Thursday’s early Asian session, down 0.45% on the day. BoJ Summary of Opinions from the July meeting stated that some members suggested a neutral rate of at least 1%. Markets continue to price in a 50 bps Fed rate cut in September. The USD/JPY pair hovers around 146.05 after
The major US stock indices are giving back some of their gains. Although they are still higher on the day, there has been some damage done technically. Looking at the S&P index, it opened today and moved above its 100-day moving average at 5309.32. The high price for the day reached 5330.64 but has since
We haven’t heard much from Steve Mnuchin since the Trump administration ended but the former Treasury Secretary and Hollywood financier is in the news today. He says that the US should drop the 20-year bond that he introduced. A look at the yield curve today shows why: 10 year 3.95% 20 year 4.33% 30-year 4.24%
Oil prices crept higher on Wednesday, though Brent still languished near seven-month lows, pressured by concerns over weak demand and fears of recession in the United States. The threat of conflict escalating in the Middle East and endangering oil production has supported prices since Tuesday. Brent crude futures were up 45 cents, or 0.6%, to
News flow has been slow today, with only second-tier economic data coming out of Europe and no major releases from the US. Some attention is turning towards Canada, where BoC is set to release its summary of deliberations from the July 24 meeting, which resulted in the second rate cut in a row. Despite Governor
Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company’s chief executive said Wednesday. “We’ve seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that there has been,” Vincent
Shares of Disney fell Wednesday as concerns about attendance at its theme parks overshadowed streaming profits and better-than-expected headline results. However, the quarter checked the boxes that matter most to us, making the stock decline a buying opportunity. Revenue in the fiscal third quarter totaled $23.16 billion, topping the $23.07 billion expected by analysts, according
Tuesday’s trading session was mixed; stock prices bounced, but they closed well below the daily highs. The S&P 500 reached a local high of 5,312.34 but closed more than 70 points below that level, gaining ‘just’ 1.04%. Overnight, calming words from the Bank of Japan were released, and this morning, the S&P 500 is likely
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Fundamental Overview The global market rout on Monday eventually weighed on gold. The reasons for the drop lie in the movement of real yields and liquidations due to the need of cash in extreme scenarios. In the big picture, real yields are falling, which is a good thing for gold, but in extreme cases when
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Gold October futures contracts at MCX opened flat on Wednesday at Rs 68,752 per 10 gram, which is down by 0.31% or Rs 213 while silver September futures contracts were trading at Rs 79,433/kg, down by 0.24% or Rs 190. In this week so far, the prices of gold have fallen by Rs 1,000/10 gm
New Zealand Dollar surged strongly today following much better than expected Q2 employment data.. Speculations of an early rate cut by RBNZ next week now seem exaggerated. Major banks still expect RBNZ to start easing monetary policy this year, with consensus pointing to the November meeting. However, there’s still a possibility that RBNZ could signal
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Workers on the stage as they prepare for a SoftBank Group Corp. news conference in Tokyo, Japan, on Thursday, June 27, 2024. Toru Hanai | Bloomberg | Getty Images SoftBank Group booked a 1.9 billion yen ($12.9 million) investment gain on its Vision Fund tech investment arm in the company’s fiscal first quarter ended in
NZD/USD gains momentum around 0.5980 in Wednesday’s early Asian session, gaining 0.54% on the day. New Zealand’s Unemployment Rate ticked higher to the highest since March 2021, rising to 4.6% in Q2 vs. 4.3 prior. Fed’s Daly expects interest rate cuts to come as the labor market weakens. The NZD/USD pair extends the rally near
A lot has been said about the “carry trade” liquidation that helped contribute to a -12.4% decline in the Nikkei 225 on Monday. There are some that think the unwind is just getting started. In this video, I take a look at the weekly chart of four JPY pairs – the USDJPY, GBPJPY, EURJPY and
Nasdaq daily I’ve been closely watching bitcoin today as a barometer for sentiment and a pre-cursor to moves in equities, particularly in the Nasdaq. Earlier, we saw a jump in BTC to $57,000 and that optimism is bearing out in stocks. Big winners include some of the biggest losers yesterday, particularly chipmakers. Nvidia is up