Share: Euro maintains the flattish performance just above the 1.0900 yardstick. Stocks markets in Europe on their way to close another session in the red. Powell said that further tightening is needed to bring inflation down. The risk-off sentiment continues to weigh on the risk complex. The greenback clings to daily gains when tracked by
The GBPUSD moved lower despite stronger CPI data in the UK today. That move to the downside took the price near the 200 hour moving average at 1.26844. The price has bounced off of that level, keeping the buyers in play in the pair (watch video above). On the top side, the rising 100-hour moving
The major US stock indices are trading lower for the 2nd consecutive day. The Dow Industrial Average is leading the declines with a decline of near 0.45%. Fed chair will begin his testimony at 10 AM ET. The text of his prepared remarks have already been released. You can find them HERE. A snapshot of
Despite Fed Chair Jerome Powell’s firm indications that further monetary tightening is needed, Dollar is struggling find momentum for its near-term rebound. The greenback is yet to break through its weekly high even against the weaker Yen and is primarily bounded within the confines of yesterday’s range, barring its performance against Australian dollar. Meanwhile, Canadian
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HSBC files metaverse and NFT patents British banking institution HSBC filed a series of metaverse and nonfungible token (NFT)-related trademark applications. A June 12 filing to the United States Patent and Trademark Office (USPTO) show the bank’s trademarks including metaverse banking, consulting, and financial services, along with virtual credit cards that point to a potential
Share: EUR/USD takes offers to reverse late Tuesday’s corrective bounce amid four-day downtrend. Bullish chart formation, hawkish ECB clues challenge Euro sellers ahead of Fed Chair Powell’s bi-annual Testimony. Clear break of 1.0935-40 could convince EUR/USD bulls to return to the table. EUR/USD stays on the bear’s radar for the fourth consecutive day as it
The NZDUSD stepped lower and is trading down for the 3rd consecutive day after a run above the 100-day moving average last week failed. (100-day moving averages at 0.62129). In trading today, the Asian session saw the price test its 100-hour moving average (currently at 0.62046). Sellers leaned against that level and it opened the
Westpac-Melbourne Institute Leading Index for May 2023, main points made by WPAC on their data: The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, declined to -1.09% in May from -0.78% in April. Tenth consecutive
Oil prices were mixed on Tuesday ahead of a decision on lending benchmarks by China, with the world’s second-largest economy widely expected to cut key rates to shore up a slowing recovery. Brent crude was 3 cents higher at $76.12 a barrel at 0041 GMT. U.S. West Texas Intermediate (WTI) crude was unchanged at $71.29
Australian Dollar is trading broadly lower today, reflecting uncertainties that emerged after release of minutes from RBA meeting earlier this month. The minutes revealed that a hold was considered at the meeting. Arguments were finely balanced even though it eventually decided to hike 25bps. These revelations have stirred market doubts about the continuity of monetary
Dollar, yuan, yen and euro notes. Ullstein Bild Dtl. | Ullstein Bild | Getty Images From hawkish pauses to rate hikes and dovish tones, the world’s biggest central banks last week struck very different tones on monetary policy. The European Central Bank on Thursday hiked rates and surprised markets with a worsening inflation outlook, which
Share: Natural Gas price corrects from its daily highs after the release of upbeat macroeconomic housing data from the US, which supports the US Dollar and weighs on XNG/USD. Natural Gas pares earlier gains reached after Norwegian data showed lower-than-expected production in May, sparking supply fears. Despite bullish fundamentals, the longer-term technical trend remains bearish as long as prices
The USDJPY story is about 2 charts. The daily chart defined the topside where sellers showed up. The hourly chart is defining short term support. Looking at the daily chart, it stalled the rise when resistance against the November 21 high at 142.246 was reached. The high prices today reached 142.247 just above that level.
Air travel is certainly back as consumers return to the skies after years of covid-related curbs. The TSA reports that on Friday it screened 2.785m people, which is the highest number of passengers in a single day since 2019. Couple that with today’s surprise 21.7% jump in US housing starts and higher rates aren’t exactly
Bullion prices extended their losses on Tuesday on a stronger Dollar Index (DXY). Analysts expect gold to be range bound in today’s session with a bearish tilt. MCX August Gold futures were trading at Rs 59,176 per 10 grams in the opening trade and were unchanged as against their last close while July Silver futures