Today’s economic data releases are steering the markets, though it is uncertain how sustained their influence will be. Dollar emerges as the day’s strongest performer, buoyed by robust retail sales figures. Australian Dollar trails as the initial lift from RBA minutes dissipates, leaving it in the second spot. Euro is firmer after German economic sentiment
Consumers showed surprising strength in September, boosting retail sales well above expectations despite high interest rates and worries over a weakening economy. Retail sales rose 0.7% on the month, well above the 0.3% Dow Jones estimate, according to the advance report the Commerce Department released Tuesday. Gas station sales helped propel the headline number, rising
In this article LCID Follow your favorite stocksCREATE FREE ACCOUNT A Lucid showroom in New York City on Aug 19th, 2023. Adam Jeffery | CNBC Luxury electric vehicle maker Lucid Group said Tuesday that it delivered 1,457 of its Air sedans to customers in the third quarter, a number that is unlikely to reassure investors
Share: The trade-weighted US Dollar Index against a basket of 26 currencies is up more than 5% from its July low. Economists at the National Bank of Canada analyze Greenback’s outlook. Interest rate differentials support Dollar appreciation The USD’s strength has been supported by widening interest rate differentials with its major trading partners. US yields
The price of gold surged on Friday due to anticipated geopolitical risks in Israel, reaching a high of $1932.88 and surpassing both the 100 and 200-day moving averages in the process (blue and green lines on the chart above). However, in today’s trading, the price hit a high of $1932.63 but failed to extend further,
Via Reuters report: The top U.S. general overseeing American forces in the Middle East made an unannounced trip to Israel on Tuesday, saying he hoped to ensure its military has what it needs as it fights a deepening war against Palestinian militant group Hamas. Army General Michael “Erik” Kurilla, head of U.S. Central Command “I’m
New Delhi, The National Stock Exchange (NSE) on Monday said it has launched 13 new commodity derivatives contracts, a move that will help investors efficiently manage their risk. With this launch, NSE offers 28 products in the commodity derivatives segment, the exchange said in a statement. The 13 new derivatives contracts that have been launched
Financial markets are holding steady yet exhibit a sense of nervous anticipation as the new week commences. The conflicts between Israel and Hamas continues to take center stage, with concerns mounting over the potential for the violence to engulf the broader region. Volatility and unpredictability of the geopolitical situation mean that unexpected escalations could stir
Share: Crude oil prices continue the losses after news on the US-Venezuela Oil deal. US could sign a pact with the Venezuelan government involving easing sanctions on its oil industry. Traders appear to be adopting a wait-and-see approach; seeking more cues related to the Middle East conflict. The Western Texas Intermediate (WTI) oil price experiences
The USDCAD has moved modestly lower to start the trading week, and in the process is testing a swing area on the 4-hour chart between 1.3600 and 1.36125. Also, on the way on the downside is the rising 100-hour moving average at 1.3597, and its 200-bar moving average at 1.3576. Recall that the 200-bar moving
The major US stock indices are opening with gains on the day to start the trading week. Last week the Dow industrial average and S&P index both moved higher by 0.45 and 0.79% respectively. The date NASDAQ index fell -0.18%. A snapshot of the market currently shows: Dow industrial average up 209.37 points or 0.62%
Stablecoin issuer Tether has moved to freeze 32 addresses linked to terrorist activity in Israel and Ukraine in collaboration with local law enforcement agencies. $873,118 worth of Tether (USDT) linked to illicit activity in Israel and Ukraine have been frozen, according to an announcement from the company. The action was taken in collaboration with Israel’s
Gold price plunged Rs 350 to Rs 60,150 per 10 grams in the national capital on Monday amid weak cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 60,500 per 10 grams in the previous trade. Silver also declined Rs 300 to Rs 74,000 per kg. In the global
A quiet yet tense atmosphere pervades the financial markets today, as traders’ anticipation builds, eyes keenly focused on unfolding developments in the Israel-Hamas conflicts. Such geopolitical uncertainties are casting a shadow over most major trading hubs, prompting cautious moves among investors. In the European markets, major indexes are painting a mixed image. FTSE is registering
Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Pool | Via Reuters U.S. Treasury Secretary Janet Yellen said the country can “absolutely” afford to financially support both Israel and Ukraine in their respective war efforts. President Joe Biden in a post on
Share: The Euro keeps the bid bias unchanged against the US Dollar. Stocks in Europe close the session with a decent advance across the board. EUR/USD faces immediate target at the 1.0600 hurdle. The USD Index (DXY) meets initial support around 106.30. German Wholesale Prices rose 0.2% MoM in September. US NY Empire State Manufacturing Index worsens less
USDCAD falls below its 200 hour moving average The USDCAD has moved lower after BOC Macklem’s more hawkish comments. Technically the price moved below its 200-hour moving average at 1.3662. And now approaches the 38.2% retracement of the move up from the September 19 low at 1.3629 and more importantly the 100-hour moving average at
I posted analysis from TD here earlier: Adding some more remarks, including forecasts for WTI: current positioning analytics suggest that substantial buying activity could take place north of $90.50/bbl in Brent, supporting continued strength the risk premium driven by the current Israel-Hamas conflict, prompts us to say that WTI crude will trade above the $90/bbl