The USDCAD has climbed higher during the North American session following weaker-than-expected retail sales earlier today. This, coupled with a weaker CPI earlier this week, sets the stage for a rate cut by the Bank of Canada next week (Wednesday). Technically, the price has broken above a downward sloping trendline, maintaining the bullish trend established
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
Gold August futures opened lower by 0.72%, or Rs 534, at Rs 73,621 per 10 grams on Friday, while silver September futures contracts opened down by nearly 1%, or Rs 90,953 per kilogram. The yellow metal has traded flat, gaining only Rs 340 per 10 grams in the last week, while silver has dipped by
Risk aversion continues to support Dollar in relatively quiet trading today. Both Sterling and Canadian Dollar weakened mildly after worse-than-expected retail sales data. Euro shrugged off dovish comments from some ECB officials. Meanwhile, Yen softened slightly following lower-than-expected CPI core reading. However, overall movements in the currency markets remain limited as traders hold their bets,
Abbott Labs delivered a second-quarter earnings beat on Thursday, but the company’s ongoing litigation over its baby formula — plus softer guidance for the current quarter — is dragging down shares. We view the pullback as an opportunity. Revenue for the three months ended June 30 rose 4% year over year to $10.38 billion, slightly
The Euro (EUR) is expected to trade sideways between 1.0885 and 1.0935. Should EUR break below 1.0885, it would mean that the EUR strength from two weeks ago has come to an end, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. Below 1.0885 the EUR to become weak 24-HOUR VIEW: “Our
The GBPUSD moved higher yesterday, reaching its highest level since July 18, 2023, with a peak at 1.3043 before slowing. This move pushed the price above the July 28 high of 1.2995 and the psychological resistance at 1.3000. Today, however, the price has rotated lower, falling back below both the 1.3000 and 1.2995 levels, indicating
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
Gold prices slipped on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal Reserve was likely to cut U.S. interest rates in September lifted appeal for non-yielding bullion. FUNDAMENTALS * Spot gold was down 0.4% at $2,434.38 per ounce, as of 0047 GMT, after scaling an all-time high
While Euro maintains its strength against Dollar, its performance is more mixed against other major currencies. The market’s attention is now focused on the upcoming ECB rate decision and press conference. It is broadly anticipated that ECB will maintain deposit rate at 3.75% and main refinancing rate at 4.25% correspondingly. President Christine Lagarde is expected
Seen through the branches of trees in Ruskin Park are the lit porches of terraced period homes and in the distance, the growing development at Nine Elms, on 14th May 2024, in London, England. Richard Baker | In Pictures | Getty Images LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook
In this article NFLX Follow your favorite stocksCREATE FREE ACCOUNT A couple sits in front of a television with the Netflix logo on it. Picture Alliance | Picture Alliance | Getty Images Netflix’s second-quarter earnings report contained no bombshells, and that’s just fine for the company and its investors. In recent weeks, Paramount Global has
Thursday’s session witnessed the NZD/JPY pair rebounding, counterbalancing part of the bearish momentum. Despite the small rise, the cross still registers a weekly loss of 1.50%. Though corrective actions take place, technical indicators still depict a negative outlook. In Thursday’s session, the NZD/JPY pair managed to record a slight upsurge and landed at 95.15. Despite
The Nasdaq index moved higher in the first few minutes of trading today, giving buyers some hope after the sharp move lower. Recall from yesterday (see post here and here), the Nasdaq moved down by over 500 points. In the post, I started to talk about the 200 hour MA as the next target. Today,
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
Gold prices firmed on Thursday to hover near a record peak hit in the previous session, as traders ramped up bets of an earlier start to interest-rate cuts by the U.S. Federal Reserve, constraining gains in the dollar and Treasury yields. Spot gold was up 0.3% at $2,464.90 per ounce as of 1155 GMT, having
Trading in the forex markets has been relatively subdued today. ECB’s decision to hold interest rates steady was widely expected, and President Christine Lagarde’s press conference did not introduce any significant new information. ECB’s accompanying statement highlighted that domestic price pressures remain high, services inflation is elevated, and headline inflation is likely to stay above
The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year. In its latest World Economic Outlook update, the IMF said “the momentum on global disinflation is slowing, signaling bumps along the path.” The rise in sequential inflation in