Share: The Japanese Yen continues with its relative outperformance amid hawkish BoJ expectations. Bets for a series of rate cuts by the Fed in 2024 undermines the USD and weighs on USD/JPY. Bears turn cautious and look to the US PCE Price Index before positioning for a fresh impetus. The Japanese Yen (JPY) remains on the
The AUDUSD broke above its 200-day moving average of 50% midpoint of the move down from the July 2023 high on Monday (near 0.65824). The pair also moved above the high of a swing area at 0.6595. That area between 0.6582 and 0.6595 is now support. If the technical bias is to increase more to
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Oil prices edged higher in volatile trading on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in U.S. crude, gasoline and distillate stockpiles. Brent crude futures were up 43 cents, or 0.5%, to $82.11 a barrel by 11:32 a.m. ET [1632 GMT]. U.S. West Texas
Dollar is stabilizing after earlier selloff but remains the weakest performer for the week. Its modest recovery can be partly attributed to a bounce back against Euro, which is currently under pressure due to Germany’s lower-than-expected CPI readings. Meanwhile, Australian Dollar is experiencing a delayed reaction to Australia’s lower-than-expected monthly CPI readings too. As a
The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images Interest rate cuts don’t happen during good times, something important for markets to remember amid hotly anticipated easing next year from the Federal Reserve. If the Fed meets market
In this article CRM Follow your favorite stocksCREATE FREE ACCOUNT Marc Benioff, CEO of Salesforce, participates in a conversation on AI and the Future at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco, California, on November 16, 2023. Andrew Caballero-Reynolds | AFP | Getty Images Salesforce shares rose 7% in extended trading on
Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services. In a Nov. 29 announcement, Paxos said the Financial Services Regulatory Authority in the Abu Dhabi Global Market had granted in-principle approval for the company to issue U.S. dollar-backed stablecoins, as well as
Share: The US economy grew at an annual rate of 5.2% in Q3; revised from 4.9%. The US Dollar Index stays in positive territory around 102.80. The real Gross Domestic Product (GDP) of the United States expanded at an annual rate of 5.2% in the third quarter, the US Bureau of Economic Analysis’ (BEA) preliminary
The USDJPY saw a notable decline during the U.S. trading session, with its downward movement intensifying after breaking below the critical 148.00 level. This break led to a sharp drop, bringing the pair to 147.33, a significant swing low that previously marked the beginning of a rally to the recent Wednesday high. For a stronger
You would think that with the plunge in bond yields this week, equities would’ve been on a tear and entering a strong rally mode. Instead, it has been anything but in the last two days. And only now in European trading are we seeing some tentative signs of stronger gains with regional indices up around
Gold price rallied Rs 750 to Rs 63,500 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 62,750 per 10 grams. Silver also zoomed Rs 800 to Rs 79,000 per kilogram. “Gold prices surged on Wednesday,
Dollar’s decline finally takes off again overnight, following dovish comments from some Fed officials. In particular, Fed Governor Christopher Waller, typically known for his hawkish views, softened his stance and expressed a level of satisfaction with the current interest rate policy. Chicago Fed President Austan Goolsbee’s even raised concerns about the risks of maintaining overly
A security guard at the New York Stock Exchange (NYSE) in New York, US, on Tuesday, March 28, 2023. Victor J. Blue | Bloomberg | Getty Images With central banks having hiked interest rates at breakneck speed and those rates likely to stay higher for longer while the lagged effects set in, the macroeconomic outlook
Pro-soccer star Cristiano Ronaldo has been hit with a proposed class-action lawsuit from plaintiffs claiming they suffered losses from his promotion of the now-legally embroiled crypto exchange Binance. A Nov. 27 filing to a Florida District Court claimed Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with
Share: Australian Dollar continues its winning streak despite downbeat Aussie monthly CPI. Australia’s Monthly Consumer Price Index declined by 4.9% in October against the expected 5.2%. US Dollar Index loses ground despite the better-than-expected US economic data. The Australian Dollar (AUD) is on a winning streak, extending its gains for the fifth consecutive day on
The Reserve Bank of New Zealand is set to announce its interest rate decision at 8 PM ET, with expectations leaning towards maintaining the current rate of 5.5% for the fourth consecutive meeting. Key levels to watch in the NZDUSD pair in relation to this decision are: The 200-day moving average and the 50% Fibonacci
Australian monthly CPI for October 2023 % y/y expected 5.2%, prior 5.6% trimmed mean inflation was 5.3% y/y in October, down slightly from the rise of 5.4% in September more to come I mentioned earlier that I’d seen some speculation that the RBA will raise its cash rate at the next meeting, December 5, if