Prevailing mood of risk aversion was evident in Asian session today. Hong Kong stocks led the region lower, reflecting investors’ dissatisfaction with the latest batch of Chinese economic data. While China’s Q4 GDP growth wasn’t far off from analysts’ expectations, it still fell short for some, contributing to the market’s cautious stance. Additionally, concerns were
Federal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its time relaxing monetary policy. The comments, delivered during a speech in Washington, D.C., seemed to counter market anticipation for aggressive easing this year. “As long as inflation doesn’t rebound and stay elevated,
In this article GS GSBD Follow your favorite stocksCREATE FREE ACCOUNT David Solomon, Chairman and CEO, Goldman Sachs, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California. Michael Kovac | Getty Images Entertainment | Getty Images Goldman Sachs is
Share: EUR/USD attempts a modest recovery from over a one-month low touched on Tuesday. Mixed signals from ECB policymakers might hold back bulls from placing aggressive bets. Diminishing odds for an early Fed rate cut underpin the USD and should cap the upside. The EUR/USD pair ticks higher during the Asian session on Wednesday and
The GBPUSD is back down testing the low for the day in what has been a big move lower for the pair today. The price of the GBPUSD is down -0.77% currently. In the move lower today, the price finally broke away from an up and down area and away from the 100 and 200
Reuters Tankan for January 2023: Manufacturing index +6, down for the first time in 4 months from +12 in December manufacturing index seen at +6 in April Services index +29 in January from +26 in December services index seen at +27 in April Concerns noted in the report: weak demand from China and elsewhere fragile
Oil prices rose by around 1% on Tuesday, as investors weighed the impact of tensions in the Middle East. Brent crude futures gained 81 cents, or about 1.04%, to $78.96 a barrel at 1333 GMT. The contract had lost 14 cents on Monday. U.S. West Texas Intermediate crude was up 41 cents, or 0.56%, from
Dollar continues its strong rally in early U.S. session, making an attempt to surpass January high against Euro. The market appears to be ignoring surprisingly poor results of Empire State Manufacturing survey. Instead, mild risk-off sentiment is prevailing, offering some support to the greenback. New Zealand and Australian Dollars are the weakest performers so far
Javier Ghersi | Moment | Getty Images Corporate debt defaults soared last year and could be a problem again in 2024 as cash-strapped companies deal with the burden of high interest rates, S&P Global Ratings reported Tuesday. The number of companies that failed to make required payments on their debt totaled 153 for 2023, up
In this article MS Follow your favorite stocksCREATE FREE ACCOUNT The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023. Michael M. Santiago | Getty Images Morgan Stanley on Tuesday reported fourth-quarter revenue that surpassed expectations, boosted by the strength in investment banking. Here’s how the bank did compared with Wall
Share: AUD/USD dips pressured by rising US Treasury yields and a robust 0.60% gain in the US Dollar Index (DXY). Deteriorating risk appetite and expectations of less aggressive Fed rate cuts contribute to the AUD’s weakness; Fed Governor Waller’s speech highly anticipated. Australian consumer sentiment wanes amid higher mortgage rates and living costs, despite potential
USD The Fed left interest rates unchanged as expected at the last meeting with a shift in the statement that indicated the end of the tightening cycle. The Summary of Economic Projections showed a downward revision to Growth and Core PCE in 2024 while the Unemployment Rate was left unchanged. Moreover, the Dot Plot was
The dollar continues to stay strongly bid in European trading today and that is pitting the antipodean currencies at the lows for the day up against the greenback. AUD/USD is down 1% to 0.6595 currently and NZD/USD down 0.8% to 0.6150 as both currency pairs are seeing a major breakdown on the week. They are
Gold prices slipped on Tuesday in early trade amid gains in the dollar index and higher bond yields even as the Street awaits comments from a host of US Federal Reserve’s speakers later this week to get more clarity on the Central Bank’s rate trajectory. Taking cues from the international market, MCX February gold futures
Dollar rises broadly on risk-off sentiment today, as as Hong Kong stocks led the region lower. The greenback’s strength comes despite growing calls for Fed to initiate policy loosening earlier. Notably, Goldman Sachs has joined this chorus, predicting an initial rate cut as early as March and a total of five cuts throughout the year.
Share: Australian Dollar moves on a downward trajectory as US Dollar strengthens. Australian Consumer Confidence declined by 1.3% in January against the 2.7% prior. Fed Bostic warned that inflation may waver in the upcoming months. Upbeat US bond yields contributed support to underpinning the Greenback. The Australian Dollar (AUD) continues its losing streak on Tuesday
Gold Futures Trade Idea 📉: I’m targeting a short position on Gold Futures with an attractive risk/reward ratio of 5 to 1. Please note that this trade is speculative and should be considered at your own risk. Technical Outlook for the Gold Futures Short 🔍: Entry Price: 2067.8, wait to fill Partial Profit Target: 2000.8
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