As China’s economy is sputtering, it seems like Beijing is stepping up initiatives to try and bolster the economy. The latest being reported is that financial regulators have invited some of the world’s biggest investors for a rare meeting next week, to encourage investment in the Chinese economy. The meet is said to focus on
Bullion traded with a positive bias in Friday’s early trade aided by the weakness in the US Dollar Index (DXY) which is on a slippery turf. The DXY has slipped below the 100 mark against a basket of 6 major currencies. A lower headline inflation numbers in the US weakened the greenback and lifted the
Dollar is still facing much broad-based pressure as risk-on sentiment continues to dominate the markets. A slight recovery could be on the cards due to pre-weekend profit-taking, although this largely hinges on the inflation expectation figures in the forthcoming University of Michigan Consumer Sentiment report. Should the inflation expectations display a substantial decrease, this could
A Now Hiring sign is seen inside a WholeFoods store in New York City. Adam Jeffery | CNBC The global economy will likely avoid a recession and central banks will need to “change the goalposts” on inflation, according to veteran strategist David Roche. With high inflation proving sticky across many major economies, central banks have
Share: AUD/NZD struggles for a firm intraday direction, stuck in a narrow range. The critical resistance level stays at 1.0800, with an initial support level of 1.0750. The Relative Strength Index (RSI) hovers between 40-60. The AUD/NZD pair consolidates in a narrow range between the 1.0750-1.0790 area on the four-hour chart. The path of least
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The USDCAD broke below the 50% midpoint of the move up from the October 21 low at 1.3132, and the June 2023 low at 1.31157. The break led to a move to a new low for the year and low going back to September 2022 at 1.3106. USDCAD falls below 50% However, the price has
John Flood, a partner at Goldman Sachs in a note to clients on Wednesday after the CPI data commented that “For the 1st time in 2023, we are currently being asked by multiple clients if we think the S&P 500 is on track to clock an ATH before year-end”. Flood responds, “I am going with
Gold prices held steady on Thursday after advancing more than 1% in the previous session, as U.S. inflation data raised hopes that the Federal Reserve would soon stop tightening its monetary policy. * Spot gold was almost unchanged at $1,957.48 per ounce by 0039 GMT. U.S. gold futures flat at $1,962.30. * U.S. consumer prices
Dollar’s extended selloff continues today, showing no clear signs of a turnaround. The slump comes on the back of the release of PPI and jobless claims data, which failed to inspire optimism among Dollar bulls. Meanwhile, global risk-on sentiment is prevailing, with noticeable rally in stock markets and corresponding dip in treasury yields. Japanese Yen
A customer shops in a Kroger grocery store on July 15, 2022 in Houston, Texas. Brandon Bell | Getty Images The producer price index for June had a smaller than expected increase, the Labor Department reported Thursday, in the latest sign that inflation is calming in the United States. The PPI for final demand rose
Share: USD/CHF recorded more than 0.85% losses on the day, falling below the 0.8600 mark. Following soft CPI and PPI figures from the US from June, investors take of the table an additional hike by the Fed past July. Jobless Claims decelerated in the week ending on July 7. Declining US Treasury yields made the
The current state of Web3 user experience is akin to driving a manual transmission car — there’s more control, but most users will find it unnecessarily clunky, according to several UX designers. Over the years, discussion around mainstream adoption of Web3 has centered around the need to improve crypto’s user experience and “ease of use.”
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
Well, the dollar looks to have finally broken and that is setting up some interesting technicals all across the board now. I’ll go into more details in the session ahead but as summarised earlier, here’s the overview: EUR/USD breaks above April to May highs to highest levels since March 2022, eyes 200-week moving average at
Gold futures traded with a positive bias in Thursday’s early trade aided by weakness in the Dollar Index (DXY) which slipped below the 101 mark. Cooling US inflation numbers in the US weakened the greenback and lifted the yellow metal. The DXY was trading at 100.47, losing nearly 3% over the past five trading sessions.