Dollar softens mildly again in rather subdued trading in Asia. Many markets are still on Lunar New Year holiday. For now, Australia Dollar is the relatively stronger one for the week, followed by New Zealander. Euro is maintaining some of this week’s gains, but there is no follow through buying. Yen is the weakest one
GBP/USD drifts into negative territory for the second successive day on Tuesday. The USD attracts haven flows amid looming recession risks and exerts pressure. Expectations that the BoE will continue raising rates should limit deeper losses. The GBP/USD pair attracts some sellers following an early uptick to the 1.2415 area and turns lower for the
Bitcoin (BTC) rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations for a pullback to $20,000. Even more notable is the move brought demand from Asia-based retail investors, according to data from a key stablecoin premium indicator. Traders should note that the tech-heavy Nasdaq 100 index also gained
The price of WTI crude oil futures are settling at $81.60. That’s down to cents or -0.02% on the day. The high price reached $80.64. The low price extended to $81.05. At the high, the price was up $1.00. At the low the price fell -$0.59. Gains were erased by the close. Looking at the
The major US stock indices rallied for the 2nd consecutive day as traders hope that inflation will continue to move lower, allowing the Fed to take the foot off the brake sooner. The Nasdaq and the S&P reached the highest level in 6 weeks (going back to December 13/14 2022. Moreover, the Nasdaq rose by
Gold price fell Rs 40 to Rs 56,840 per 10 grams in the national capital on Monday amid a fall in rates of precious metal globally, according to Securities. In the previous trade, the yellow metal had touched Rs 56,880 per 10 grams. Silver also declined Rs 85 to Rs 68,980 per kilogram. “Spot gold
Dollar rebounds broadly in early US session, following benchmark treasury yields higher. But at the time of writing, Aussie is the strongest as supported by positive risk sentiment. Euro follows as it pares back some gains despite more hawkish ECB comments and an upbeat Bundesbank monthly report. Yen is currently the worst performer for the
Silver prices dived more than 2% on Monday as US Treasury yields gained traction. Silver Price Analysis: In consolidation, though appears to be peaking around $24.00. Silver prices appear to have peaked following Monday’s price action, with the white metal unable to hold to the $24.00 figure, collapsing as low as $22.76, beneath the 50-day
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The AUDUSD moved higher in the Asian Pacific trading, continuing the bounce from yesterday that saw the buyers lean near the 50% midpoint of the move up from the January low (at 0.6875) and the low of a swing area near 0.6869. The move higher today was able to extend above the 200 hour MA
UPCOMING EVENTS: Tuesday: S&P Global US PMIs Wednesday: BoC Policy Announcement. Thursday: US Jobless Claims. Friday: US PCE. Last week the risk sentiment was hit by a big miss in US Retail Sales data, which showed also a lower revision to the previous numbers. We saw the classic risk off response in different asset classes:
Exchange-traded derivatives help multiple stakeholders – farmers, producers, processors, miners, value chain participants, smelters- in the economy. Commodity futures and options help farmers and other producers to ‘lock in’ the prices of their future output or inputs, therefore, helping to hedge against the volatility in commodity prices. Commodity derivatives help farmers take informed decisions on
Euro opens the week higher as support by hawkish comments from ECB officials over the weekend. Overall, it’s more likely for ECB to deliver at two more 50bps hike before slowing down, despite some market speculations. Dollar and Yen turned softer again. Trading is subdued, nevertheless, with many Asian markets closed on Lunar New Year
Sterling continues to perform well and is holding onto the gains made last week. Economists at ING expect the GBP/USD pair to struggle to surpass the 1.2450/2500 area. Marked improvement in the perception of UK sovereign risk “The market now prices a 45 bps Bank of England (BoE) hike at next week’s meeting. The firming
This week Bitcoin (BTC) rallied to a 2023 high at $23,100 and the move followed a notable recovery in traditional markets, especially the tech-heavy Nasdaq Composite Index, which gained 2.9% on Jan. 20. Economic data continues to boost investors’ hope that the United States Federal Reserve will reduce the pace and length of interest rate
Fed’s Waller was the last Fed official to speak before the blackout period for the Fed ahead of their interest rate decision. In his question and answer he broke down a wall that other Fed officials have been reluctant to do and it led to some added optimism in the US stock market to close