The US financial markets were enveloped in a wave of risk aversion that continued into Asian session, primarily driven by the notable surge in Treasury yields. This uptick in yields followed an auction of seven-year debt that closed with higher than anticipated yields, raising alarms about weakening demand for US Treasuries. This concern was compounded
Salesforce shares sank more than 16% Wednesday after reporting mixed earnings and revised guidance lower. The cloud software company is a high-quality stock in a rough neighborhood — at least for the near term. Revenue increased 11% year over year to $9.13 billion in the three months ended April 30, missing the $9.18 billion expected
Chewy reports Q1 earnings before the open on Wednesday. CHWY stock shoots up 28% on tripling of net income. Revenue beats consensus by $40 million, last year’s total by 3%. CEO Sumit Singh adds $500 million buyback provision. Chewy (CHWY), the online pet food retailer co-founded by Ryan Cohen of GameStop (GME) fame, has shot up
The AUDUSD is falling to a new session low and new low for the week as well. In the process, the price has broken below its 100-hour moving area at 0.6637, and the 100 bar moving average on the 4-hour chart at 0.66346. Those moving averages now become topside resistance in the short term, and
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
Silver prices hit a lifetime high levels of Rs 97,100 in the local market on Wednesday, while gold prices rose Rs 250 in line with strong trends in the overseas markets, according to HDFC Securities. Continuing its winning run for the third straight session, silver soared Rs 1,150 to Rs 97,100 per kg. It had
Risk aversion is the prevailing theme in the global markets today, with major European indexes trading in the red and US futures pointing to a lower open. Australian Dollar reversed its earlier post-CPI gains and is currently the worst performer of the day, followed by New Zealand Dollar and Canadian Dollar. In contrast, Swiss Franc
The world is mired in $315 trillion of debt, according to a report from the Institute of International Finance. This global debt wave has been the biggest, fastest and most wide-ranging rise in debt since World War II, coinciding with the Covid-19 pandemic. “This increase marks the second consecutive quarterly rise and was primarily driven by emerging markets,
In this article ANF Follow your favorite stocksCREATE FREE ACCOUNT An Abercrombie & Fitch signage is seen on a store on Fifth Avenue on August 25, 2022 in New York City. Michael M. Santiago | Getty Images Abercrombie & Fitch reported its strongest first quarter in its history on Wednesday, continuing a winning streak that
The Pound Sterling drops after facing selling pressure near 1.2800 due to multiple tailwinds. A soft UK inflation outlook could prompt the BoE to start unwinding higher interest rates. The US Dollar recovers amid uncertainty ahead of the US core PCE price index. The Pound Sterling (GBP) corrects to 1.2750 against the US Dollar (USD)
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
The selling in bonds is what stood out in trading yesterday. And that reverberated to stocks and also underpinned the dollar in US trading. The two Treasury auctions here and here played a part, but it’s definitely also a tricky one with month-end also in consideration. In any case, the dollar is still staying in
Amid weakness in the dollar index and heightened geopolitical tensions, gold prices steadied as MCX gold June futures opened on Wednesday at Rs 72,203 per 10 grams, up 0.03% or Rs 23 while MCX silver July contracts opened 0.23% higher at Rs 95,670/kg. In the last three days, silver prices have risen by Rs 5,100
Australian Dollar strengthened broadly in Asian session today, shrugging off lackluster retail sales data. Instead, Aussie is responding positively to Shanghai’s announcement of significant policy measures aimed at boosting the housing market. Yesterday, China’s commercial and financial hub declared it would relax home purchase restrictions and provide subsidies for new flat buyers. This move is
The Greenback managed to regain some late traction and trimmed most of its daily losses amidst a decent bounce in US yields and diminishing expectations of a rate cut by the Fed in September. Here is what you need to know on Wednesday, May 29: The USD Index (DXY) rebounded from multi-day lows near 104.30
NZDUSD finds sellers near the 61.8% retracement The NZDUSD last week traded up and down in a narrow 70 PIP range. The low price stalled within a swing area between 0.6073 and 0.6086. On Friday the price moved higher closing near in the middle of the week’s trading range between 0.60816 and 0.61515 (70 PIP
In the last five hours, US 10-year yields have swung nearly 10 basis points higher. It’s an ugly turn in fixed income after a strong start and was driven by a handful of factors: The two-year note auction tailed by a full basis point despite a decent concession shortly before The selling continued after the
Silver futures on Tuesday hit a fresh lifetime high of Rs 96,220 per kg on the MCX in the evening trade, gaining by Rs 1,612 per kg intraday over Monday’s closing price of Rs 94,608, tracking strong buying action in the international market. While the white metal saw some gains after scaling a new peak,