Mexican Peso strengthens against US Dollar, buoyed by positive market mood, mixed economic reports. US inflation remains hot as core PCE Price Index increases above March expectations. Mexico shows a deficit, yet Unemployment Rate drops, presenting mixed economic scenario. The Mexican Peso counterattacks registered solid gains versus the US Dollar on Friday as economic data
The USDJPY continues to run to the upside with the currency pair now up 1.32% on the day. That is the largest increase since the end of October when the pair moved up 1.75%. It is Golden Week next week and markets are closed on Monday in Japan. The Bank of Japan kept rates unchanged.
Spot gold closed with a gain of 0.27% at $2338 Friday. However, the metal posted its first weekly decline in six on inflation concerns as the US inflation data remained elevated. The metal fell 2.20% on the weekly closing basis. The ten-year US yields at 4.67% were around 1% lower Friday; however, yields were up
The weakening yen is unpopular in Japan and pressure is mounting on politicians for action but there are no easy answers. I spoke with BNNBloomberg about the issues: 1) Rate differentials are the driver. You can buy a 10-year Japanese government bond and get 0.9% per year or buy a US 10 and get 4.7%.
Last week’s market activity was shaped by several significant themes. Firstly, the Japanese Yen’s rapid decline caught market participants off guard. The sell-off was exacerbated by what many considered tepid verbal interventions from Japanese officials. Current momentum suggests that the Yen’s free fall is far from over. The key is whether Japan will step up
In this article CVX Follow your favorite stocksCREATE FREE ACCOUNT Gas pumps are seen at a Chevron gas station in Orlando. Paul Hennessy | SOPA Images | Lightrocket | Getty Images Chevron beat earnings expectations Friday, but its profit fell from the year-ago period as its refineries and international gas business faced headwinds. The oil
Alphabet reported Q1 earnings late Thursday that beat Wall Street estimates. YouTube advertising and the Cloud segment continue growing strong. Alphabet CEO Sundar Pichai introduces $0.20 cash dividend. GOOGL stock is trading between $169.31 and $174.68, Fibo levels. Alphabet (GOOGL), the parent of Google and YouTube, is clinging to a 10% gain midway through Friday after posting
The USDJPY has and continues to make new highs going back to 1990. GBPJPY trades at the highest level since 2008 Today, the GBPJPY joined the USDJPY in making a new multi-year high. For the GBPJPY, it traded to its highest level since September 2008 (highest level in 2008 or nearly 16 years). Looking at
Copper and aluminium, the most used industrial metals, have gained substantially in the past few weeks. The rally was associated with supply uncertainties and a notable increase in global demand. The Western ban on Russian metals, hopes of US rate cuts, and diversification of holdings of central banks also uplifted the sentiments. Copper futures are
At ForexLive, we work in the news business and I make it our mission to deliver news and analysis that can help people make money in financial markets, or at least understand what’s going on. I’ve always gravitated towards financial news because it’s the one industry where there’s a scorecard. You can still get away
Inflation showed few signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. That was above
An Exxon gas station is seen on October 06, 2023 in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Exxon’s stock was down less than
The Japanese Yen weakens across the board after BoJ announced its policy decision. A shortlived spike in the Yen may be testament to an attempt by the Japanese authorities to intervene. US PCE Price Index shows higher-than-expected inflation but does little to impact USD/JPY which almost touches 157.00. The Japanese Yen (JPY) plummets to a
The NZDUSD this week moved higher on Thursday and moved up to test the 50% midpoint of the April trading range at 0.59668, before backing off on the stronger US GDP and price data. The price retraced the entire move to the downside with momentum in the Asian session today. That follow-through upside move took
Oil prices rose in early trade on Friday, as players took stock of the U.S. Treasury secretary’s comments that the country’s economy is likely in a stronger position than indicated by weak first-quarter data, coupled with supply concerns as conflict continues in the Middle East. Brent crude futures gained 34 cents, or 0.38%, to $89.35
The JPY pairs all rose sharply (JPY lower) as JPY selling continued after the BOJ rate decision. The comments from BOJ Ueda did not strike any fear in traders hearts, after saying that the JPYs fall could lead to higher inflation, but expressed no concerns about its fall. After, an initial dip soon after the
Dollar remains stable in early US session despite release of another set of persistently high inflation figures. The strong rebound in DOW futures suggest that investors are somewhat relieved to see no disastrous surge in inflation rates. Additionally, robust spending growth appears set to continue bolstering the US economy, even as Fed is set to
A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images The last batch of inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is very good. In the