Share: USD/CAD is eyeing to reclaim the 1.3500 resistance amid a solid recovery in the USD Index. The postponement of US debt ceiling issues till the weekend has weighed on US Treasury yields. The oil price has dropped sharply as investors are worried about deepening fears of a US recession. The USD/CAD pair is looking
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The NASDAQ index is moving to a new session high. The price reached 12398.85. The current price is up 32 points or 0.26% at 12397.19. The move to the upside has the pair moving closer to a key retracement target at 12427.97. That level represents the 38.2% retracement of the move down from the all-time
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The European Council has approved updated rules that extend tax reporting requirements to include transfers of crypto assets. This is the eighth version of the Directive on Administrative Cooperation (DAC), which is a set of procedures for automatic information sharing between European governments for tax purposes. DAC8 was proposed in December and approved May 16
Gold prices slipped on Tuesday led by some recovery in the dollar index. The MCX June Gold futures were trading at Rs 60,951 per 10 grams in the opening trade, down Rs 76 or 0.12%. Meanwhile, July Silver futures retreated Rs 152 or 0.21% to trade at Rs 73,250 per kg. The DXY was trading
Canadian Dollar is enjoying a broad rally in early US trading session, fueled by data that revealed unexpected reacceleration in Canadian consumer inflation for April. The evidence for BoC to resume tightening measures is steadily accumulating. Amid slight risk-off sentiment in US markets, due to persistent uncertainties over debt ceiling negotiations, Swiss Franc and Japanese
A woman stands in front of an empty retail space in lower Manhattan on April 17, 2017 in New York City. As American’s shopping habits continue to migrate online, brick-and-mortar stores across the country are closing at an increased rate. For the first time in nearly two years, retail sales declined two months in a
A customer enters a Home Depot store on August 16, 2022 in San Rafael, California. Justin Sullivan | Getty Images Home Depot said on Tuesday that quarterly sales fell short of expectations and it lowered its forecast for the year, as consumers delay big projects and buy fewer big-ticket items like patio sets and grills.
Share: Gold prices fall 0.80% as US economic data showcases resilience, led by strong retail sales and industrial production figures. Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices. Upcoming speeches from New York Fed John Williams, Dallas Fed Lorie Logan, and Atlanta’s Fed Raphael
In an earlier post, I commented how the USDCAD fell below a key swing area (old floor) between 1.3517 and 1.35266, and the 100-day moving average . I commented: Technically if the price can stay below the 100-day moving average, that is the best-case scenario for the downside potential. Alternatively staying below 1.35266 (high of
Not much has changed from yesterday’s post here, as markets are caught in a bit of a bind for the time being. Perhaps tech stocks may look to be the standout, after the Nasdaq moved higher again yesterday. However, I would say that the overall risk mood still hangs in the balance. With major currencies
Gold prices eased in early Asian trade on Tuesday as traders assessed comments from U.S. central bank officials on interest rates staying high, while market focus was also on developments in the debt-ceiling debate. FUNDAMENTALS * Spot gold was down 0.3% at $2,014.62 per ounce by 0029 GMT, while U.S. gold futures eased 0.2% to
Australian Dollar took a dive in today’s Asian trading session, reeling from a sharp decline in consumer sentiment and a slew of weaker-than-anticipated economic data from China. Despite the headwinds facing Aussie, New Zealand Dollar held its ground, buoyed by Westpac’s predictions of continued monetary tightening by RBNZ from the present 5.25% to 6.00% in
Share: In an interview with the Financial Times late Monday, Thomas Barkin, president of the Federal Reserve Bank of Richmond, “if inflation persists, or God forbid accelerates, there’s no barrier in my mind to further increases in rates.” Additional quotes “Would advocate for a “steady” approach that would “lessen the damage of any potential overcorrection”. “It is not
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