Last week, the financial world navigated a storm of uncertainty and volatility. From skyrocketing treasury yields to the extended declines in equities, from the downward spiral of Chinese stock market to the tumultuous Yuan exchange rate, and not forgetting the unexpected nosedive in Bitcoin. At the same time the dynamics of these developments are closely
Share: China’s economic indicators signal distress, with weak retail sales, plunging imports/exports, and Evergrande’s bankruptcy filing. US Federal Reserve minutes highlight commitment to 2% inflation target but voices caution against overtightening. Traders eye upcoming S&P Global PMIs in Australia and a slew of US data, including Powell’s Jackson Hole speech, for directional cues. AUD/USD registers
On the latest episode of Macro Markets, analyst Marcel Pechman explains the impacts of the United States Federal Reserve’s balance sheet, breaking down how the Fed inflated its assets by $5 trillion between December 2019 and April 2022. Pechman notes that the expansion period coincides with a 38% crash in the S&P 500 index. Moreover,
The USDCHF has chopped parsley higher this week. On the downside, a swing area support held near 0.8742. On the top side, there were some modest moves above a swing area high near 0.88193 that failed. However, as we head closer to the close for that week, the price is retesting that swing area between
Mon: PBoC LPR, German PPI (Jul) Tue: US Richmond Fed Index (Aug), New Zealand Retail Sales (Q2) Wed: EZ/UK/US Flash PMIs (Aug), Canadian Retail Sales (Jun), US New Home Sales (Jul) Thu: Fed’s Jackson Hole Symposium (24-26th Aug), CBRT Announcement, BoI Announcement, BoK Announcement,US Durable Goods (Jul) Fri: Fed’s Jackson Hole Symposium (24-26th Aug), Japan’s
COMEX Gold prices declined for the fourth consecutive week, facing pressure from robust US economic indicators and the slightly hawkish tone of the FOMC meeting minutes. The erosion in gold’s value comes as it broke below the significant threshold of $1,900 per troy ounce and currently hovers near its lowest point since March 2023, a
Share: XAU/USD recovered towards $1,890, still poised for a weekly decline. China’s real state giant Evergrande filed for bankruptcy protection in a US court. Lower US yields amid risk aversion benefits Gold prices. At the end of the week, the XAU/USD Gold spot slightly recovered to $1,890, but it is still poised for a 1% weekly
In this article Follow your favorite stocksCREATE FREE ACCOUNT A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. Spencer Platt | Getty Images Cava on Tuesday posted a profitable quarter for its first
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Crude oil sets the support and resistance going into next wk A week or so ago, the price of crude oil moved above a key swing ceiling between $82.43 and $83.44 (see yellow area and read numbered circles on the chart above). The price moved above that ceiling on Wednesday of last week, closing at
There was no major news coming out of the Fed chatter. Most of the focus was on interest rates, and stocks. Bitcoin fell toward technical support. Crude oil prices rebounded off of low levels and closed higher on the day, but down on the week. On Friday, if you were to look at the price
Oil prices looked set to close lower this week following seven weeks of gains, as China‘s economic woes eclipse signs of tight supply. The seven-week upswing in prices, galvanised by supply cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+), was the longest streak for both benchmarks this year. Brent futures rose
In the face of mounting tumult across stocks, bonds, and the crypto realm, the currency market projects an island of relative calm. Despite the extended rout in equities and treasuries and the dramatic tumble in Bitcoin, the forex market has responded with comparative restraint. A discernible dip in commodity currencies is on display, with Australian
Share: GBP/USD retreats from daily highs and losses for the second day in the week but remains set to finish the week on a higher note. Retail Sales in the United Kingdom (UK) were softer, but most data supports the Bank of England’s (BoE) case for a rate hike at its upcoming meeting. The GBP/USD is trading
In this article 700-HK Follow your favorite stocksCREATE FREE ACCOUNT Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent on Wednesday reported a weaker-than-expected surge in profit for the second quarter, as cost-cutting measures began to
Bitcoin (BTC) stayed near two-month lows at the Aug. 18 Wall Street open as markets came to terms with extreme liquidations. “Drying liquidity” costs BTC price key support Data from Cointelegraph Markets Pro and TradingView showed BTC price action tracking sideways after a single daily candle spawned 8% losses. The largest cryptocurrency saw a cascade