Share: Natural Gas consolidates the biggest daily jump in a month by retreating from three-week high. RSI conditions favor pullback moves from 3.5-month-old resistance line. April’s top restricts immediate downside, 50-EMA appears the key support. Natural Gas Price (XNG/USD) prints the first daily loss in five as it eases from the highest levels in three
The USDCAD is down-testing a key support target between 1.3207 and 1.32299. Looking at the daily chart below, that level was a ceiling in July and September 2022, then became a floor since breaking above also in September 2022. The level was retested in November 2022 and the swing low earlier this year in January
BusinessNZ Performance of Manufacturing Index (PMI) is still well under its longer run average of 53.0 BusinessNZ’s Director, Advocacy Catherine Beard: New Zealand’s manufacturing sector has remained in a relatively tight band of contraction for the last three months. … Beyond seasonal factors such as weather, comments tended to concentrate on slowing orders/deteriorating demand and
Gold price plunged Rs 550 to Rs 59,700 per 10 gram in the national capital on Thursday amid weak global trends, according to HDFC Securities. The precious metal had ended at Rs 60,250 per 10 gram in the previous trade. Silver also tumbled Rs 900 to Rs 72,600 per kilogram. “Gold extended its fall in
Euro is making notable gains following ECB’s decision to increase interest rates by a widely anticipated 25bps. The real kicker, however, is the significant upward revision of core inflation forecasts for both the current and following years, pushing the common currency up across the board. Swiss Franc capitalized on Euro’s rally, securing its spot as
Share: Initial Jobless claims totaled 262,000 in the week ending June 10, the weekly data published by the US Department of Labor (DOL) showed on Thursday. The print follows the previous week’s 261,000 (revised to 262,000) and came in above market expectations of 249,000. It matches the highest reading since October 2021. “The 4-week moving
Fed clearly delivered a hawkish hold overnight, signaling that two more rate hikes are underway. However, market participants appear skeptical about the Fed’s aggressive posture. According to Fed funds futures, markets are still projecting interest rate to peak at 5.25-5.00%, anticipating just one more 25-basis point rate hike in July. Moreover, there’s over 60% chance
The Federal Reserve exerted a hawkish pause by skipping a rate hike but raising the terminal rate to 5.6% from 5.1%. That implies 50 more basis points hikes between now and the end of the year. The market which was thinking in terms of no change and the potential for no change in July, is
Headlines: Markets: AUD leads, JPY lags on the day European equities lower; S&P 500 futures down 0.3% US 10-year yields up 3.1 bps to 3.829% Gold down 0.7% to $1,929.74 WTI crude up 1.1% to $69.19 Bitcoin flat at $24,925 Markets are still digesting the Fed policy decision yesterday, and I shared some thoughts on
Bullion prices fell sharply in the opening trade on Thursday on a stronger Dollar Index and the Federal Reserve’s assertions that the Central Bank could go for two more rate hikes by the end of this year. The Fed commentary strengthened the greenback and led to slippages in the price of gold and silver. MCX
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Progress can have its drawbacks, as the French stock market regulator, the nongovernmental Autorité des marchés financiers (AMF), has noticed. According to the AMF ombudsman, digital asset-related mediations rose sharply in 2022, as did the number of registered digital asset service providers (DASPs). In its newly released 2022 annual report, the AMF ombudsman included a
Share: Gold Price clings to mild gains while snapping three-day downtrend. Federal Reserve’s hawkish halt defends XAU/USD bulls despite upbeat FOMC announcements. China data-dump, United States Retail Sales eyed for clear directions of the Gold Price. XAU/USD bears keep poking 100-DMA as bulls struggle to keep the reins. Gold Price (XAU/USD) stays defensive around $1,945
Dollar is facing renewed selling in early US session as data reveals a further slowdown in upstream inflation via PPI. All eyes are now on the much-anticipated FOMC rate decision where a ‘hold’ is broadly expected. However, the possibility of an upside surprise in both inflation projections and the dot plot remains, suggesting that we
There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets: In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered. EURUSD: The EURUSD moved
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