Weekly WTI Oil is near the lows of the day, down 96-cents but still has some breathing room in what looks like it will be another weekly close above $90. Still, it feels like something of a loss for the bulls, or at least a loss of momentum. We touched $95 early on Thursday before
Nasdaq Comp We’ve seen this script before. Treasury yields came off the lows and slowly the gains in equities faded. The FX market might have been the tell earlier as money started to move into US dollars, something I alluded to. I just don’t know how you could have a lot of confidence in that
Gold on the key London spot market declined to a six-month low on firm US dollar and a jump in Treasury yields. Hopes of interest rates staying higher for an unexpected period increased the demand for US assets. Despite a weaker Indian Rupee, domestic gold mirrored the trend with the most active MCX futures and
Share: The GBP/USD initially rose on Friday, but got knocked lower as the market broadly swept back into the US Dollar. The US Dollar index caught a late bid to push back into the middle to close out the trading week. Recession risk is still quite high in the UK, capping Pound Sterling bids. The
The USDJPY had a volatile down and up trading day with the full 100 pip move to the downside in the first half of the day, nearly fully retracted in the 2nd half of the day. The low price today moved to the 200-hour moving average and the picture set midpoint of the move up
The major indices are closing mixed today with the Dow Industrial Average average fearing the worst. The NASDAQ index eked out a small gain for the day. The S&P was lower. A snapshot of the closing levels shows: Dow industrial average fell -157.50 points or -0.47% at 33508.86 S&P index -11.46 points or -0.27% at
Spot gold extended its losing streak to the fifth consecutive day Friday as the metal closed with a loss of 0.85% at $1,648.73. Gold ended the week, the month and the quarter lower. High US yields and a strong Dollar continue to act as headwinds against the metal as investors see the US Federal Reserve
As the global financial markets tread through turbulent waters marked by escalating treasury yields and declining stocks, the US Dollar emerged as a beacon of strength. A noticeable uplift in the currency was observed last week, an upward motion fuelled by the twin factors of soaring treasury yields and a pervasive risk-averse sentiment that gripped
Share: Mexican Peso finished the week on a lower note against the US Dollar. Mexico’s inflation rate will be the highlight of the economic agenda for the next week. USD/MXN could turn sideways after Banxico is determined to hold rates higher to curb inflation. The Mexican Peso (MXN) held to its gains vs. the US
Cryptocurrency exchanges are adopting alternative strategies to conduct business in the face of tighter crypto regulatory environments worldwide. Signs are everywhere. Kraken is reportedly moving to offer securities trading in the United States and the United Kingdom to expand its reach and compete with popular apps like Robinhood, which offer both crypto and stock trading. On
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Markets: Gold down $16 to $1848 WTI crude oil down 78-cents to $90.93 US 10-year yields down 0.2 bps to 4.57% S&P 500 down 12 points to 4288 AUD leads, CAD lags The quarter ended with some drama as the US dollar shot higher, recouping losses from European and Asian trading and in some cases
Oil prices fell on Friday in a volatile trading session, as macroeconomic concerns weighed on the recent rally. Front-month Brent November futures were down 14 cents, or 0.15%, at $95.24 per barrel at 1442 GMT ahead of the contract’s expiry later in the day. The more liquid Brent December contract was down 72 cents, or
As the quarter nears its end, a tangible shift towards a risk-on sentiment is sweeping through the global financial markets. Supported by lower than expected inflation data from both sides of the Atlantic, investors are regaining confidence. This renewed optimism is evident in the notable gains posted by major European stock indexes, with US futures
An economic indicator the Federal Reserve favors as an inflation gauge rose less than expected in August, showing that the central bank’s fight against higher prices is making progress The personal consumption expenditures price index excluding food and energy increased 0.1% for the month, lower than the expected 0.2% gain from the Dow Jones consensus
Share: Nike beat earnings consensus for FQ1 results. The quarter ending in August witnessed better pricing power. Nike earned $0.94 per share on revenue of $12.94 billion. NKE stock has conquered the 21-day SMA, signaling a new uptrend. August PCE data shows core inflation slowing its growth trajectory. Nike (NKE) stock has surged over 9%
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
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not