The auto workers’ strike is the latest in a series of labor-management conflicts that economists say could start having significant growth impacts if they persist. So far, the United Auto Workers stoppage has impacted just a small portion of the workforce with limited implications for the broader economy. But it is part of a pattern
Share: S&P 500’s key event is Federal Reserve’s interest rate decision on Wednesday. US Building Permits, Housing Starts, Existing Home Sales lead week on data front. S&P Global Manufacturing & Services PMIs are released on Friday. Instacart is expected to IPO on Tuesday at a valuation above $9 billion. The Standard & Poor’s 500 index
The uncertainty around inflation due to another increase in energy prices and the risk of a recession continue to keep Gold in a range. In fact, we saw a rally in Gold around the end of August as the US data started to surprise to the downside with the labour market indicators showing weakness, but
Major central bank decisions are of course the main watch, which is in part contributing to the rather lackadaisical mood so far in European morning trade today. From earlier: The central bank bonanza heats up this week But it’s not just those policy decisions that will be of interest to markets. There will be quite
At the beginning of the week, COMEX Gold saw some positive movement as the greenback weakened, triggered by Bank of Japan Governor Kazuo Ueda’s remarks hinting at possible policy shifts based on wage data by year-end. This spurred a rally in the Yen and Japanese government bonds. However, the dollar index has since gained momentum,
Today’s Asian financial markets have shown signs of calmness, partly due to holiday in Japan that has likely tempered trading activities. Dollar and Euro were mildly softer, while Aussie, Kiwi, and Yen exhibited slight strength. However, the fluctuations were confined within the ranges observed last Friday, pointing to the low-volatility environment in currency markets. The
Share: One central bank that seems to have almost emerged victorious from the fight against inflation already is the Swiss National Bank (SNB). Economists at Commerzbank analyze EUR/CHF outlook. Current CHF exchange rate likely to be distorted towards a stronger Franc The Swiss Franc should be at an advantage due to the disinflation progress already
Trading activity on Binance.US has reached new lows in September, as the crypto exchange faces unprecedented challenges. On Sep. 16, exchange volume stood at $5.09 million on Binance.US, as reported by Amberdata on The Tie Terminal. The lowest point for the month was on Sep. 9, when trading activity totaled $2.97 million. This is a significant
This week, the USDCHF has experienced an upward price movement, consistently remaining above the key swing area range of 0.89347 to 0.89472. The price surpassed this range in yesterday’s trading session and has maintained its position above this threshold today. Looking upwards, there’s a notable trend line at 0.8984, followed by a significant range between
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Oil prices hit a 10-month high on Friday and posted a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combined with optimism around Chinese demand to lift crude. Brent crude futures rose 23 cents, or 0.3%, to settle at $93.93 a barrel, while U.S. West Texas Intermediate futures was up 61
Share: GBP/JPY looking down a steep hill as the pair loses ground near 183.00. Data-packed economic calendar for the UK in the bottom half of next week. GBP struggles to find a floor on mixed UK data souring investor appetite. The GBP/JPY has struggled to develop meaningful momentum in recent weeks, and the Guppy is
The major US stock indices are trading at session lows as European traders start to look for the exits for the week. The NASDAQ index is now down around 1.3%. The S&P index is down -0.89%. All the major indices are back below its 50 day moving averages after closing above those moving averages yesterday.
S&P is out with it expectations for the UAW strike and implications. They say Warns that if the UAW strike continues for over a week and expands, it could lead to significant reductions in earnings and liquidity in the US auto sector for 2023. Predicts a slowdown in U.S. auto sector momentum in the second
As the festival of Ganesh Chaturthi will be celebrated on Tuesday, September 19 it will mark the beginning of a long festive season in India, gold could likely take a break from the ongoing bearish undertones in the medium term. The domestic prices are expected to remain steady on festive buying and a stronger dollar
Share: USD/NOK saw green on Friday, rising 0.50% above 10.788. Investors expect the NB to deliver a 25 basis point hike to 4.25% next week. The Fed decision will likely be a pause next Wednesday. On the last day of the week, the USD/NOK gained additional traction, rising to multi-month highs above 10.788. On the NOK’s side, Norges
Top Stories This Week Paxos confirms it’s responsible for paying a $500K Bitcoin transaction fee The Bitcoin miner who received 19.8 BTC in fees from blockchain infrastructure firm Paxos has returned the funds following Paxos’ claim that it made a mistake in paying over $500,000 in transfer fees. On Sept. 10, Paxos paid the six-figure
The AUDUSD traded at the week’s low on Monday in the 1st hour of trading at 0.63706. The price moved sharply higher on that day, but by Wednesday, the price had rotated back down toward the lows into a swing area between 0.63791 and 0.63874. Support buyers came in against that level and pushed the