Dollar dipped as weaker-than-expected ADP job data hit the market entering US session. However, the movement has been limited with traders bracing for FOMC rate decision. Fed is widely expected to keep its policy rate unchanged at 5.25-5.50% today. The main focus is whether Fed will signal enough “confidence” to start cutting interest rates in
A “Now Hiring” sign is seen at a FedEx location on Broadway on June 07, 2024 in New York City. Michael M. Santiago | Getty Images Private job growth slowed further in July while the pace of wage gains hit a three-year low, payrolls processing firm ADP reported Wednesday. Companies added just 122,000 jobs on
DuPont on Wednesday reported another beat-and-raise quarter, continuing a recovery partly driven by growing demand for AI chips — and rewarding our patience with the stock. Net sales in the three months ended June 30 totaled $3.17 billion, topping the $3.05 billion estimate, according to LSEG. Sales rose 2.5% on an annual basis and 8.2%
The Bank of Japan raised interest rates to 0.25% today, in line with our call but against consensus and market pricing. The BoJ also announced bond purchases will be nearly halved to around JPY 3tn by 1Q26, ING’s FX analyst Francesco Pesole notes. JPY isn’t rallying for some reason “The statement also stressed the inflationary
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The EURJPY moved higher earlier today, breaking above the 100-hour MA (blue solid line on the chart below) in the process (currently at 166.679. The subsequent move higher extended toward the 100-day MA (step blue line on the chart below) in the Asian and early European session, but fell short of that target at 167.98.
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Gold October future contracts at MCX opened on Wednesday at Rs 69,500 per 10 gram, which is up by nearly 0.50% or Rs 322 while silver September futures contracts were up by 0.85% or Rs 702, trading at Rs 83,361/kg. Gold prices surged by nearly 1.3% or Rs 900/gm in two days while silver prices
Yen rose broadly today after the BoJ raised interest rates for the second time this year, and maintained hawkish bias. However, buying momentum has not been decisive. This lack of strong momentum can be attributed to the fact that the rate hike decision was likely well priced in by the markets. Nikkei’s rebound following the
Aaron P | Bauer-Griffin | GC Images | Getty Images Europe’s largest lender HSBC posted a narrow decline in pretax profit in the first half of the year, but beat expectations on the back of a high-interest rate environment. The bank posted pretax profit in the six months to June of $21.56 billion, down from
EUR/USD holds steady around 1.0815 in Wednesday’s early Asian session. Germany unexpectedly shank by 0.1% in the second quarter. The Fed is likely to hold rates steady at its July meeting on Wednesday. The EUR/USD pair consolidates its losses around 1.0815 during the early Asian session on Wednesday. The major pair edges lower amid risk-aversion
The USDCHF stretched higher yesterday to start the trading week, and in doing so moved toward the key 200-day MA/38.2% of the move up from the December 2023 low. Those levels came in near 0.8879 to 0.8883 respectively. The high price reached 0.8867 today (close but still a safe distance from the 200-day MA). Staying
The US dollar has strengthened against the euro due to slowing growth momentum outside the US, with key economic indicators from China and the euro-zone showing signs of weakening. This has contributed to the USD’s recent rebound. Key Points: USD Strengthening: Euro Weakness: The euro has weakened against the USD, approaching the 200-day moving average
Oil prices slipped in early Asian trading on Tuesday, extending losses from the previous session, over concerns about Chinese demand and as the market shrugged off the risk of conflict escalating in the Middle East. Brent crude oil futures fell by 12 cents or 0.15% to $79.78 a barrel by 0033 GMT. U.S. crude futures
Overall trading in the forex markets remained relatively subdued today. Dollar continues to hold the top position, despite the absence of clear follow-through buying momentum. Investor caution is also evident in US stock futures, which are moving within a tight range. Any movement in the US markets is likely to be temporary today, as traders
The lights of Frankfurt am Main’s banking skyline glow in the last light of day. Boris Roessler | Picture Alliance | Getty Images The euro zone’s economy grew by more than expected in the second quarter of 2024, flash figures from the European Union’s statistics office showed Tuesday. The zone’s gross domestic product rose by
Stanley Black & Decker on Tuesday morning delivered solid quarterly results — enhanced by strong cash flow performance, allowing management to raise its full-year guidance. The stock continued its recent rally. Revenue fell 3% year over year to $4.024 billion in the second quarter, edging out the $4.016 billion expected by analysts, according to estimates