Dollar relinquished its early gains, entering US session as the day’s softest currency. Even as US benchmark 10-year yields skyrocketed to touch 4.3% mark, they found themselves lagging behind their German and UK counterparts. On the flip side, Australian Dollar is mustering a recovery, buoyed in part by China’s proactive measures to stabilize Yuan’s exchange
Traders work on the floor of the New York Stock Exchange (NYSE), August 15, 2023. Brendan McDermid | Reuters China’s economic model is “washed up on the beach” and “not going to take off again,” which will have a big impact on global markets, says veteran investor David Roche. Despite a remarkable rally in stock
Share: Euro pierces the 1.0900 hurdle vs. the US Dollar. Stocks in Europe keeps the negative performance so far. EUR/USD looks supported around the 1.0860 for the time being. The USD Index (DXY) meets initial resistance near 103.60. EMU trade deficit shrank more than expected in June. Philly Fed index surprises to the upside in August. The Euro
In this article WMT Follow your favorite stocksCREATE FREE ACCOUNT Atchison, Kansas. Walmart store logo with gardening products for sale. (Photo by: Michael Siluk/UCG/Universal Images Group via Getty Images) Ucg | Universal Images Group | Getty Images Walmart will report fiscal second-quarter earnings before the bell on Thursday, as the discounter tries to capitalize on
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The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved, according to investment research boutique Fundstrat. In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research Tom Lee predicted
AUDUSD making new lows In an earlier video on the AUDUSD, I talked to the possibility of a bounce in the AUDUSD. The pair is oversold. The RSI was diverging on the hourly chart the price needed to get back above the end-of-May low near 0.64587. Looking at the hourly chart, the price could not
The data is here, a large drop in full time employment makes the report even worse then the sad headlines: But, the ABS have noted a warning on this data: “July includes the school holidays, and we continue to see some changes around when people take their leave and start or leave a job. It’s
New Delhi: Petrol and diesel sales by state-run oil companies fell 8% and 6% respectively over the last year in the first half of August as the private sector fuel retailers clawed back market share and as heavy rains affected mobility and industrial activity in some parts of the country. Compared to the first half
In the wake of UK CPI data, Sterling slightly higher, but lacks clear buying momentum. As BoE had anticipated, headline inflation demonstrated pronounced deceleration. Concurrently, the evident surge in services inflation dovetails seamlessly with the week’s unprecedented data on wage growth. Given these dynamics, BoE is primed for another rate hike in the coming month,
Share: People’s Bank of China (PBoC) set the USD/CNY central rate at 7.2076 on Thursday, versus the previous fix of 7.1986 and market expectations of 7.3047. It’s worth noting that the USD/CNY closed near 7.2990 the previous day. Apart from the USD/CNY fix, the PBoC also unveiled details of its Open Market Operations (OMO) while saying that the Chinese
In this article TGT TJX Follow your favorite stocksCREATE FREE ACCOUNT A T.J. Maxx store in Pasadena, California. Mario Anzuoni | Reuters Cash-strapped consumers may be pulling back on discretionary purchases at Target, but they’re spending big on name brands and home goods at off-price TJX Companies. The discounter raised its full year outlook on
The USDCAD has been trading above and below its 200-day moving average over the last few trading days. Yesterday it broke to the upside and also extended above the 50% midpoint of the 2023 trading range. Both those developments tilts the bias of further in favor of the buyers. Stay above the 50% midpoint at
EURGBP daily Following the unexpected surge in the UK’s July CPI data as released by the ONS, MUFG offers insights on how to strategize positions in the GBP. Key Points: July CPI Data Surprise: The ONS revealed an unexpected uptick in July’s CPI data, coming after the strong wage data from the previous day. The
Gold traded in the red in early trade on Wednesday amid a retreat by the dollar index (DXY) which has crossed the 103 mark against a basket of six top currencies. Elevated bond yields and China’s economic concerns weighed on the yellow metal which is now trading in an oversold zone. The DXY was trading
In early US trading sessions, Dollar is showing signs of regaining momentum as market participants eagerly anticipate the release of FOMC minutes from July 25-26 meeting, where a 25bps hike was delivered. Recent comments from Fed officials suggest an increasing divergence in views regarding the need for additional monetary tightening. Presently, fed funds futures reflect