British Pound emerged as the weakest link, facing headwinds following subpar construction data. Not far behind in performance was the Canadian Dollar, which felt the pressure from the ongoing plunge in oil prices. Dollar, while still in a commanding position, appears to be taking a pause, digesting its recent upticks. Contrastingly, Australian and New Zealand
Columbia South Carolina, Chick-fil-A, fast food restaurant with sign advertising $15 an hour to be hospitable. Jeff Greenberg | Universal Images Group | Getty Images A strong jobs market could equal a weak stock market if current trends hold up. Friday’s nonfarm payrolls report will provide a major test for Wall Street, which has been
In this article LEVI Follow your favorite stocksCREATE FREE ACCOUNT Levi’s 501 blue jeans on display. Sean Gallup | Getty Images Levi Strauss on Thursday cut its full-year sales forecast, as it missed Wall Street’s quarterly revenue expectations and was dragged down by weaker shopping trends at department stores and big-box retailers across the U.S.
Share: The White House has begun planning a November meeting in San Francisco between President Biden and Chinese leader Xi Jinping to stabilize relations between the world’s two most powerful nations. This would be the first meeting between the leaders of the world’s two largest economies since they met in November last year in Bali,
The strongest to the weakest of the major currencies As the North American session begins, the NZD is the strongest and the CAD is the weakest. The USD is lower as yields dip modestly in early US trading. It is one more sleep until the BLS releases their latest US jobs report for September with
Headlines: Markets: NZD leads, CAD lags on the day European equities higher; S&P 500 futures flat US 10-year yields down 1.6 bps to 4.718% Gold up 0.1% to $1,822.24 WTI crude down 1.6% to $82.88 Bitcoin up 0.3% to $27,744 It was a slower session in terms of headlines and market moves were also not
Oil extended its sharp decline on concerns that a slowdown in global growth will erode consumption. The global Brent benchmark fell below $85 for the first time since late August, while West Texas Intermediate slid below $84 after slumping the most since September last year on Wednesday. Crude’s drop followed a plunge in gasoline after
Japanese Yen is registering broad gains in today’s Asian trading session, buttressed by the 10-year JGB yield which solidly remains above the 0.8% threshold. However, the yen’s advancement is notably limited, still lingering below this week’s high, which many attribute to a suspected, yet unverified, intervention. Japanese The spotlight falls on Japanese Prime Minister Fumio
In this article TLRY Follow your favorite stocksCREATE FREE ACCOUNT Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry. The company reported $177 million in net revenue, up 15% year-over-year, for its fiscal first-quarter. Its cannabis division brought in $70 million in
Share: USD consolidates as yields remain supportive. Economists at Scotiabank analyze Greenback’s outlook. DXY gains remain stretched High US yields and wide rate differentials will keep the USD well-supported in the near-term at least but the disruptive impact of the US Treasury sell-off is a niggling concern for investors and may be increasing the risk
The relatively lackluster performance of nine new Ethereum futures exchange traded funds (ETFs) has prompted analysts at K33 Research to urge a “rotate back” into Bitcoin (BTC). In an Oct. 3 market report, analysts Anders Helseth and Vetle Lunde said that it’s “time to pull the brakes on ETH and rotate back into BTC,” with
The AUDUSD tested the low from yesterday at 0.62849. The low came up a pip short of that low and bounced. The high for the day was able to extend above the low from last week at 0.6331 on two separate 4-hour bars. However, momentum could not be sustained above the level and the price
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Gold prices crept lower on Wednesday for the eighth consecutive session as elevated U.S. Treasury yields amid expectations that the Federal Reserve will keep interest rates higher for longer continued to weigh on investor sentiment. Spot gold was down 0.2% at $1,818.99 per ounce by 10:39 a.m. ET (1439 GMT), while U.S. gold futures eased
Dollar softens broadly today, as it seems traders are exercising caution, pivoting their focus towards forthcoming heavy-weight economic data releases from the US in the second half of the week. The greenback’s pull back also extends following much weaker than expected ADP private job data. Interestingly, this “bad news is good news” effect is also
Private payroll growth tailed off sharply in September, according to an ADP report Wednesday that provides a counterweight to other signs that the labor market is still running strong. The payroll processing firm said job growth totaled just 89,000 for the month, down from an upwardly revised 180,000 in August and below the 160,000 estimate
Share: USD/JPY trades sideways below the 149.00 area, supported by the suspected FX intervention by Japanese authorities. US private payrolls rose by 89,000 in September vs. 180,000 prior. 10-year Japanese Government Bond (JGB) yield spiked to 0.8% for the first time since 2013 on Wednesday. Market players await the highly-anticipated US Nonfarm Payrolls. The USD/JPY
The breakout of the triangle is a signal that the global economy might be headed for a downturn as the central banks keep monetary conditions tight. The fast rise in energy prices might have also accelerated such an outcome as consumption should have suffered from it. We have also other markets heading towards a negative