USDJPY tests swing area (yellow area) and finds buyers The USDJPY fell sharply today and in the process fell below the 50% midpoint of the move up from the mid-May low at 155.647 and the 61.8% of the same move at 155.162. However, the support swing area between 154.594 and 154.878 stalled the fall. The
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 fell more than $1 on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand. Brent crude futures fell $1.14 cents, or 1.5%, to $77.22 a barrel at 0825 GMT. Brent on Monday closed below $80
Japanese Yen and Swiss Franc are seeing significant upward momentum today. As news flow has been very slow, these safe-have currencies’ are likely partly supported by the extended decline in benchmark treasury yields across the US and Europe. This movement also suggests an underlying risk aversion among investors, although the downturns in European indices and
Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve with more impetus to start lowering interest rates. The Labor Department’s Job Openings and Labor Turnover Survey released Tuesday showed that the level of employment vacancies slipped to 8.06 million for the month,
The Oil price fell to $72.50 as OPEC+ plans to shore up the market. Weak US factory PMI raise concerns over the Oil demand outlook. Investors await the US NFP data for fresh guidance. West Texas Intermediate (WTI), futures on NYMEX, fall further to $72.50 in Tuesday’s European session. The Oil price extends its losing streak for
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
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
Amid highly volatile sessions and disappointing US PMI data, gold August futures at MCX opened flat at Rs 72,160 per 10 grams down by 0.06% or Rs 43, while silver July contracts stood at Rs 92,099/kg, up 0.07% or Rs 66. Domestic markets settled on a positive note. Gold August futures contract settled at Rs72,203
Dollar weakened broadly overnight, particularly against European majors, following disappointing US manufacturing data that also pressured benchmark Treasury yields lower. This data not only pushed benchmark Treasury yields lower but also triggered the greenback’s downturn. Despite these movements, the stock markets closed mixed, suggesting that the market reactions were not entirely aligned with the negative
Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon’s turnaround plan is starting to pay off. The sneaker retailer isn’t out of the woods just yet, but we’re removing the stock from our penalty box and upgrading its rating. Revenue declined 2.7% year over year to $1.879 billion, slightly
Dow Jones backslides as investors balk at softening US data. Markets have shifted to bets of a November Fed rate cut. Monday kicks off NFP week with a sharp pullback in equities. The Dow Jones Industrial Average (DJIA) is down around 200 points on Monday with investors taking a step back after US ISM Manufacturing Purchasing
USDCHF falls below the 50% and looks toward the 100D MA The USDCHF is trading to new lows and in the process has moved below the 50% retracement target. That level comes in at 0.89763. The fall take the price closer to the rising 100-day MA. That MA comes in at 0.89277. The price of
Crude oil futures are settling at $74.22. That is down $2.77 or -3.60%. The low price reached $73.98. That was the lowest level since February 8. OPEC extended supply cuts through the end of 2025 but plans to ease cuts starting October 2023. The 2.2 million BPD voluntary cuts will continue until September, with gradual
Gold prices edged higher on Monday as signs of cooling U.S. inflation lifted hopes for interest rate cuts from the Federal Reserve this year, while traders awaited a slew of U.S. economic data due this week. Spot gold was up 0.2% at $2,331.84 per ounce as of 09:49 a.m. ET (1349 GMT), after posting a
The forex markets are showing relatively limited movement today, remaining mostly within established ranges. Yen is having a slight uptick, supported by the dips in US and European benchmark treasury yields. But the Japanese currency’ gains are modest and insufficient to reverse recent declines. Meanwhile, Swiss Franc is charting a notable course as the day’s
City scene Yeni Camii great mosque by Golden Horn of Bosphorus River, Topkapi Palace, Hagia Sophia Istanbul, Republic of Turkey Tim Graham | Getty Images Inflation in Turkey topped 75% in May, up from 69.8% in April, in what economists expect to be the peak before prices start to ease. Consumer prices rose 75.45% in
A Monzo debit card being used at a payment terminal. Monzo Monzo, the British digital challenger bank, on Monday reported its first full year of profitability. The fintech startup said in annual financial results that its pre-tax profits totaled £15.4 million ($19.6 million) in its 2023-2024 fiscal year, swinging to the black from a £116.3