The AUDUSD is trading at session highs and trading up 0.70% on the day. The gain is only behind the NZDUSD which has moved up 0.80% so far today. The rise is being helped by a divergence of rates. The FOMC yesterday kept rates unchanged with what was perceived as a more dovish tilt. Meanwhile,
The dollar has been the frontrunner in the last few months and it owes much to a rout in the bond market. Soaring Treasury yields alongside a more robust economy helped to provide the necessary tailwind for the dollar to outperform its peers. But now, are we poised for a reversal and a stop to
US Federal Reserve’s dovish commentary on the course of future rate decisions dented the prospects of greenback on Thursday, aiding yellow metal prices. MCX December gold futures were trading at Rs 60,866 per 10 gram, up by Rs 81 or 0.13% from Wednesday’s closing price. Meanwhile, the December Silver futures were trading at Rs 71,826
The forex markets displayed a calm demeanor during Asian session today, with traders eagerly anticipating FOMC rate decision. After experiencing a tumultuous selloff, Yen found some semblance of stability, courtesy of verbal intervention by Japan. Nonetheless, it remains the week’s laggard, pausing momentarily with the possibility of further decline on the horizon. This weakening Yen
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Cristiano Amon, president and CEO of Qualcomm Incorporated, speaks during an interview with CNBC on the floor of the New York Stock Exchange (NYSE) in New York, April 28, 2022. Brendan McDermid | Reuters Qualcomm reported fourth-quarter earnings on Wednesday that beat expectations for sales
Federal prosecutors claimed Sam “SBF” Bankman-Fried “doubled down” on the use of customers’ funds when he purchased Binance’s $2 billion stake in FTX in 2021. According to U.S. government attorneys, Bankman-Fried paid for the buyout with funds from FTX customers. The prosecution is delivering its closing arguments on Nov. 1 at the Southern District Court
Share: Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions. Follow our live coverage of the Fed’s monetary policy announcements and the market reaction. [embedded content] Fed meeting press conference key quotes “We will make decisions on totality of
Crude Oil prices remained supported in the past three weeks as the geopolitical risk in the Middle East stayed high around the Israel-Hamas war and possibility of a larger conflict comprising other Arab countries, especially Iran. The market is now looking past the conflict as the we haven’t seen any larger escalation even after the
The US dollar is under pressure following a soft ISM manufacturing report. The main catalyst is the bond market as yields fall 7-10 bps across the curve. US 10-year yields have backed further away from 5%. US 10s The Treasury announced new auction sizes for bonds today and 10-year sizes weren’t as large as feared.
Oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus. Brent January crude futures were up about 2.5%, or $2.08, to $87.10 a barrel by 1316 GMT. U.S. West Texas
US 10-year yields is seeing a notable drop after Treasury unveiled its auction plan. In a closely monitored move, the department announced a USD 2B/month increase in 10-year bond sales. This increment was below market’s anticipated USD 3B hike. The decision appears to bolster 10-year treasury price, subsequently pressing down 10-year yield. US stock futures
Private sector payroll growth increased modestly in October but missed expectations, in a potential sign that the employment picture could be darkening, ADP reported Wednesday. The payrolls processing firm said that companies added 113,000 workers for the month, higher than the unrevised 89,000 in September but below the Dow Jones consensus estimate of 130,000. On
In this article W Follow your favorite stocksCREATE FREE ACCOUNT Wayfair IPO on the floor of the New York Stock Exchange. Lucas Jackson | Reuters Wayfair is inching closer to profitability, but its third-quarter results still fell short of revenue expectations as the home market continues to be under pressure. Here’s how the online furniture
Share: Most Asian equities trade on a flat note ahead of the Federal Open Market Committee (FOMC) meeting. The downbeat China’s Caixin Manufacturing PMI added worries about sluggish economic conditions in China. Japan’s Nikkei leads gains after the Japanese top currency diplomat came out with verbal intervention. The FOMC rate decision will be closely watched
Like many pairs today, the NZDUSD has seen up-and-down price action. For it, the pair fell in the Asian session, helped by weaker China data. The fall in the Asian session stalled just ahead of the 100-hour MA (blue line on the chart below). The run higher reached up to 0.5856, before tumbling in the
The dollar is keeping steadier so far on the day, after posting a decent advance in trading yesterday owing much to a surge higher in USD/JPY. The pair itself got a helping hand from the BOJ and also purported absence of intervention by Tokyo, paving the way for a break above 151.00 to its highest
Gold prices started November lower on Wednesday as cautious investors awaited U.S. Federal Reserve’s policy decision, after the Middle-East worries led to a strong safe-haven rally last month and pushed prices above $2,000. FUNDAMENTALS * Spot gold fell 0.2% to $1,979.71 per ounce by 0125 GMT and U.S. gold futures dropped 0.3% to $1,988.70. *
US Federal Reserve Chairman Jerome Powell holds a press conference in Washington, DC, on September 20, 2023. Mandel Ngan | AFP | Getty Images The Federal Reserve meeting will most likely conclude Wednesday with the central bank not doing a whole lot of anything — just the way the market wants things for now. There’s