Headlines: Markets: GBP leads, NZD lags on the day European equities higher; S&P 500 futures up 0.1% US 10-year yields down 1.5 bps to 4.787% Gold up 0.1% to $1,824.08 WTI crude down 2.0% to $87.47 Bitcoin up 0.7% to $27,580 As we got into European morning trade, yields were running hot once again and
oil trading at $100-a-barrel next year? Because a triple-digit price tag wouldn’t just mean elevated energy prices — it would also turbocharge the dollar. The combination of expensive barrels and a rampaging greenback could make crude a wrecking ball in 2024 that keeps inflation high enough to destroy growth around the world. The more oil
Dollar is finding strength amidst an atmosphere of palpable anxiety in the financial markets, stemming from a continuation of the risk-off mood from US into Asian session. This prevailing anxiety in the markets has been heightened by the pronounced drop in US stocks overnight, coupled with a surge in long-end treasury yields. Adding to the
Share: Oil (WTI) not enjoying the week as it trades below $90. The US Dollar printed a new high in the US Dollar Index, flirting with the 52-week high. Despite supply cut confirmations and US stockpile drawdowns, prices remain under pressure. Oil prices already had a busy morning this Wednesday with OPEC+ issuing its report.
The United States Securities and Exchange Commission has asked a federal judge to deny Coinbase’s motion to dismiss a lawsuit by the regulator. In an Oct. 3 filing in a New York District Court, the SEC hit back at claims in Coinbase’s dismissal motion and reiterated its belief that some of the cryptocurrencies listed on
Major stock indices fell sharply today as yields continued their march higher. The 10 year yield rose 11.7 basis points to 4.799%. The 30-year is approaching 5% at 4.927%. Much stronger JOLTs job openings data was the catalyst for higher rates: Dow industrial average had its worst trading day since March 22 NASDAQ index equaled
Coming up from the US on Wednesday, 4 October 2023: The ADP employment data will be eyed for insight on the degree to which the pace of private job creation has been consistent with the FOMC’s objective of rebalancing the labour market. The data prior for this has indicated a moderation in private employment growth,
Gold price tumbled by Rs 650 to Rs 57,550 per 10 grams in the national capital on Tuesday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had ended at Rs 58,200 per 10 grams. Silver also nosedived Rs 1,800 to Rs 71,500 per kilogramme. Gold and silver prices
In the spotlight today are the developments within the treasury markets. US 10-year yields have soared, reaching their highest point since 2007. This surge is largely attributed to expectations that Fed will keep high interest rates for longer, if not push them even higher. Fed hawks have been vocal this week, indicating the plausible scenario
Share: NZD/USD extends its downside above 0.5900 amid the cautious mood and USD demand. US JOLTS Job Openings came in above expectations. The Reserve Bank of New Zealand (RBNZ) is likely to hold the rate unchanged at 5.50% at its October meeting. Traders await the RBNZ rate decision on Wednesday. The NZD/USD pair remains on
US: The Fed left interest rates unchanged as expected. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024. Fed Chair Powell reaffirmed
Headlines: Markets: USD leads, AUD lags on the day European equities lower; S&P 500 futures down 0.3% US 10-year yields up 4.6 bps to 4.730% Gold down 0.2% to $1,824.38 WTI crude down 0.5% to $88.38 Bitcoin down 1.1% to $27,541 There wasn’t much in terms of headlines during the session as the focus stays
Gold continued its slide on Tuesday, clocking its longest losing streak since Aug. 2022 in the last session as Federal Reserve officials underscored the likelihood interest rates will stay high, with U.S. job openings data expected later in the day. FUNDAMENTALS Spot gold was down 0.2% at $1,824.10 per ounce by 0057 GMT, falling for
Australian Dollar is facing heavy downward pressure, emerging as the most underperforming currency this week so far. The weak under tone is maintained following RBA’s decision to hold interest rates steady. Both Aussie and Kiwi have relinquished the gains made the previous week, a reversal exacerbated by an evident risk aversion in Asia. Significant decline
Share: JOLTS report will be watched closely by Fed officials ahead of September jobs data. Job openings are forecast to hold steady at around 8.8 million on the last business day of August. US labor market conditions remain out of balance despite Fed rate hikes. The Job Openings and Labor Turnover Survey (JOLTS) will be
The rush of excitement that accompanied the launch of nine new Ethereum futures exchange-traded funds (ETFs) appears to have yielded little in the way of investment dollars in comparison. On Oct. 2, nine new ETF products, which are designed to track futures contracts tied to the value of Ethereum’s native currency Ether (ETH) arrived on
The GBPUSD is trading to a new session low as the clock ticks toward the end of day. in the process, the price is ticking down toward the 38.2% retracement of the move up from the September 26, 2022 low. That retracement level comes in at 1.20763. After a trend move higher as we saw
British Retail Consortium data for UK shop price inflation, its dropped to its lowest in a year at 6.2% y/y prior 6.9% 6.2% is the lowest since September of 2022 Via Reuters: “We expect shop price inflation to continue to fall over the rest of the year,” BRC Chief Executive Helen Dickinson said. “However there