Sterling falls significantly today following BoE’s decision to raise interest rates by only 25bps. This cautious, along with Governor Andrew Bailey’s clear indication that a 50bps hike was not on the table, has resulted in substantial pressure on the Pound. Meanwhile, currency markets remain mixed elsewhere, with Canadian and US Dollar on the softer side,
Miami Beach, Florida, Normandy Isle, 7ty One Venezuelan restaurant, interior with customers dining and wait staff cleaning up. Jeff Greenberg | Universal Images Group | Getty Images Friday’s jobs report could provide a crucial piece to the increasingly complicated puzzle that is the U.S. economy and its long-anticipated slide into recession. Wall Street prognosticators expect
Share: EUR/USD falls to 1.0912 but rebounds before breaching 1.0900, trading at 1.0942 with a slight gain of 0.04% on Thursday. A potential doji formation shows market indecision; the pair might consolidate within the 1.0900/1.1000 range, with 100-day EMA at 1.0894 as a key support level. Resistance lies at 1.0971 (50-day EMA), with further upside
In this article HUM Follow your favorite stocksCREATE FREE ACCOUNT A Humana office in Louisville, Kentucky, July 31, 2023. Jon Cherry | Bloomberg | Getty Images Humana shares rose Wednesday after the health insurer said medical costs came in lower than expected during its second-quarter earnings report. The results ease investor concerns two months after
Bitcoin has been struggling recently as the monetary conditions started to tighten more with the US Dollar gaining across the board and global bond yields rallying. Strong data are making the market to lean on the more hawkish side as the Fed kept all the options on the table at the last week’s FOMC meeting.
Here’s a look at how the OIS curve has shifted before and after the BOE policy decision today: It’s not much of a change in general as the BOE continues to allude to the fact that they are going to keep tightening policy further so long as the data suggests so. That is regardless of
Gold traded in the red on Thursday amid a positive bias in the dollar index (DXY) which is still hovering above the 102 mark against a basket of top six currencies. Anticipation of further rate hikes along with Fitch downgrade in the US credit rating has kept the yellow metal on tenterhooks and prevented it
Dollar continues to strengthen today, bolstered by prevailing risk-off sentiment that has carried over from US to Asian markets. The surge in benchmark 10-year yields is providing additional support to the greenback, as even Euro has finally conceded a near-term support level against Dollar, further affirming the underlying momentum. Meanwhile, the foreign exchange markets elsewhere
In this article ANF Follow your favorite stocksCREATE FREE ACCOUNT Fitch Ratings in New York, United States. Cem Ozdel | Anadolu Agency | Getty Images Growing political instability means the U.S. will not regain its AAA rating with Fitch for the foreseeable future, according to Elliot Hentov, head of macro policy research at State Street
Share: Economist Enrico Tanuwidjaja and Junior Economist Agus Santoso at UOB Group comment on the latest release of inflation figures in Indonesia. Key Takeaways Indonesia’s headline inflation in Jul eased to 3.1% y/y viz. 3.5% in Jun, underpinned largely by decrease in agricultural commodities due to an improvement in food production and stocks. The implementation
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Qualcomm president and CEO Cristiano Amon speaks about Qualcomm’s technology for automakers at a news conference during CES 2022 in Las Vegas, Nevada, January 4, 2022. Steve Marcus | Reuters Qualcomm reported third-quarter earnings on Wednesday that beat Wall Street expectations, but revenue and guidance
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EURUSD holds support at the 100 day MA AGAIN The EURUSD has been stepping down today, and the focus for the pair was looking at its 100-day moving average (blue line currently at 1.09132). Recall that back in early July, the price approached that moving average on July 6 and found willing buyers (see chart
S&P Global / Judo Bank Final Services PMI for July 2023. Services is 47.9, tumbling into contraction from 50.3 in June third monthly fall in the services activity index biggest monthly fall since the start of the Reserve Bank of Australia’s tightening cycle in May 2022 Composite is 48.2 in July, down from 50.1 in
Gold prices edged higher on Wednesday as the U.S. dollar and Treasury yields were bogged down after Fitch downgraded the country’s credit rating, souring confidence in the economy ahead of key data due this week. FUNDAMENTALS * Spot gold was up 0.2% at $1,948.43 per ounce by 0122 GMT, while U.S. gold futures rose 0.3%