Swiss Franc is having a significant surge today, likely due to flight to safe-haven assets amid rising tensions in the Middle East. Reports have emerged that Israeli military tanks were seen in central Rafah for the first time since the Israel Defense Forces entered the city earlier this month. This movement follows a recent missile
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. The Nasdaq on Tuesday shot up past 17,000 for the first time ever — driven by further gains in shares of Club name Nvidia . In response, Jim Cramer said,
The Japanese Yen struggled after Japan’s Weighted Median Inflation Index showed a slowdown. Japan’s Corporate Service Price Index posted a reading of 2.8% YoY in April, marking its fastest increase since March 2015. The decline in US Treasury yields put pressure on the US Dollar. The Japanese Yen (JPY) pares gains after the Bank of Japan (BoJ)
The AUDUSD is moving higher today helped in part by higher US stocks. The University of Michigan inflation expectations was also more tame, which is lowering the value of the US dollar (increasing the AUDUSD). The price has now moved up to test its 100-bar moving average on the 4-hour chart at 0.6625. Move above
BOJ measures of underlying inflation (as at April 2024) If need be, they can allude to core prices in the CPI report still being above the 2% mark. But they certainly can’t say the same about their own measures of underlying inflation now. The trimmed mean reading in particular has fallen to 1.8% in April,
Gold prices on Tuesday fell by Rs 2,433 from a high of Rs 74,442 per 10 grams on May 20 to Rs 72,009 per 10 grams on May 27. MCX gold June futures today opened flat, down by Rs 98 at Rs 71,911 per 10 grams while July silver contracts opened at Rs 94,640, up
AUD/NZD dips mildly to 1.0821 during Monday’s session. Markets are eyeing Australia’s April CPI and Retail Sales updates this week. Investors will eye New Zealand’s May ANZ business survey, which is expected to reveal a slowdown in activity. The AUD/NZD is presently trading with mild fluctuations, expecting key figures from Australia and New Zealand along the
Fundamental Overview The USD got a boost last week from the strong US PMIs which lifted Treasury yields and put in question the rate cut in September. Once the market digested the report and saw that there was more good news on the growth side than bad news on inflation, the USD strength faded fast.
GBPUSD daily Any time there is an election, it adds some uncertainty to a currency. Normally in G7 currencies, that volatility is small because (in the bigger picture) the stakes for elections are low. Yes, politics shape a country over generations but the market prices in those changes at a glacial pace. In the case
Gold prices jumped 1% on Monday after a two-week low hit in the previous session as investors assessed diminishing bets of U.S. interest rate cuts ahead of a key inflation report due later in the week. Spot gold was up about 1% to $2,355.60 per ounce as of 10:05 a.m. ET (1405 GMT), having touched
Trading has been characteristically subdued in the Monday’s Asian session. Japanese Yen is have a broad but weak recovery, with no clear indication of a reversal from its recent selloff. Australian and New Zealand Dollars are also mildly firmer, following rebound in Asian stocks. Meanwhile, Swiss Franc and Euro are among the softer currencies, while
S&P 500 Elliott Wave Analysis Trading Lounge Day Chart, S&P 500 Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Gray wave 5. Position: Orange wave 1. Direction next lower degrees: Orange wave 2. Details: Gray wave 4 looking completed, now gray wave 5 of orange wave 1 is in play. Wave Cancel invalid level: 4926.59. The S&P 500 Elliott Wave Analysis on 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
The longer weekend is making for a more subdued start to proceedings so far today. Major currencies are not up to much, with dollar pairs keeping in narrow ranges and little changed overall. USD/JPY is down slightly after brushing up against the 157.00 mark at the end of last week. But besides that, there is
Ahead of key US economic data due next week, gold prices on MCX for June futures contracts rose by Rs 309 or 0.43% to trade at Rs 71,565 per 10 grams on Monday while MCX July silver contracts were up by Rs 1,185 or 1.3% to Rs 91,733 per kg. Fed officials indicated that it
US Dollar broadly eased on Friday, but held close to flat against Yen. Japanese National CPI inflation ticked lower in April. Risk appetite recovered after US consumer inflation outlook improved. USD/JPY churned on Friday, wrapping up close to where it started the day, just below the 157.00 handle, as investors looked to recover balance after
The GBPUSD moved lower and to new week lows in the European trading session, but after testing is a 200-hour moving average, sellers turned to buyers and started a run to the upside. That move to the upside was helped by lower inflation expectations from the Michigan consumer sentiment report. Technically the price moved back
UPCOMING EVENTS: Monday: UK/US Holidays, German IFO. Tuesday: Australia Retail Sales, Canada PPI, US Consumer Confidence. Wednesday: Australia Monthly CPI, Fed Beige Book. Thursday: Switzerland GDP, Eurozone Unemployment Rate, US GDP 2nd Estimate, US Jobless Claims. Friday: Tokyo CPI, Japan Retail Sales and Industrial Production, China PMIs, Switzerland Retail Sales, Switzerland Manufacturing PMI, Eurozone Flash