Market’s response to the rate hikes by SNB and BoE has been relatively muted. Following today’s rate decisions, SNB signaled the possibility of further tightening, while BoE remains open to either a hike or a pause in the future. Dollar is currently the day’s worst performer, followed by Swiss Franc and Japanese Yen, with commodity
The EURUSD moved to new session lows. The move to the downside picked up steam on the break below the swing area between 1.0866 to 1.0886. The price has moved to a low of 1.0823 and looks toward the 1.0800 area (1.0799 to 1.0805) as the next target (blue numbered circles). The price moved above
New Delhi, Gold price climbed by Rs 450 to Rs 59,350 per 10 grams in the national capital on Thursday amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 58,900 per 10 grams. Silver also zoomed Rs 815 to Rs 69,800 per kilogram. “Spot gold
In this article DRI Follow your favorite stocksCREATE FREE ACCOUNT Customers enter an Olive Garden restaurant in Pittsburg, California, US, on Friday, Dec. 9, 2022. David Paul Morris | Bloomberg | Getty Images Darden Restaurants on Thursday raised its revenue outlook for fiscal 2023 for the second consecutive quarter after reporting quarterly results that showed growth
Judo Bank / Markit preliminary purchasing managers’ indexes (PMI) for manufacturing and services sector activity in March 2023. Manufacturing 48.7 prior 50.5 Services 48.2 prior 50.7 Composite 48.1 prior 50.6 From the report Warren Hogan, Chief Economic Advisor at Judo Bank said: The Flash PMI results for March confirm that the economic slowdown that commenced
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Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a proof-of-stake (PoS) blockchain that is often referred to as the “Ethereum killer,” owing to its superior technology and high level of security and sustainability. Much like Ethereum, Cardano also allows users to stake its native cryptocurrency, ADA, to earn staking rewards. Cardano allows individuals
Share: EUR/USD extends its gains on Thursday. Economists at OCBC Bank expect the pair to continue its race higher. Is the ECB the only hawk in town? “EUR continued to trade higher amid softer USD, dovish Fed hike while hawkish comments from ECB officials suggest that ECB may be the only hawk in town.” “Daily
Dollar faced broad sell-off overnight after the less hawkish than expected Fed rate hike and press conference, with Euro emerging as the biggest winner against the greenback. Sterling and Swiss Franc followed suit, while Australian and New Zealand dollars also strengthened but lagged on a weekly basis. Attention now shifts to BoE and SNB rate
On the daily chart below, we can see that the price got rejected from a key resistance level set in June 2021. Bitcoin had a parabolic rally since the peak of the banking “crisis” and we may now see a pullback with the most likely support at the 25231 level where we can also find
MCX silver futures hit a seven-month high on Thursday while gold futures built up on their Wednesday gains aided by the US Federal Reserve’s dovish commentary and a 25 bps rate hike, which was on expected lines. A bouquet of triggers, including the slipping of the US dollar, lower bond yields and the safe-haven appeal
Chinese tech giant Tencent released quarterly results Wednesday. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by growth in ads within its growing “video accounts” business. Overall revenue for the quarter ended Dec. 31 came in at 144.95 billion yuan ($21.07 billion), higher than
One for the ‘Small-print-bros’ via Reuters FINMA has instructed Credit Suisse to completely write down its AT1 instruments and to inform the bondholders concerned without delay. “The AT1 instruments issued by Credit Suisse contractually provide that they will be completely written down in a ‘viability event’, in particular if extraordinary government support is granted,” FINMA
Share: USD/JPY is sensing hurdles around 131.50 as Yen’s solid appeal has faded the impact of Fed’s rate hike. Fed Powell has confirmed that rate cuts are not on the agenda in 2023. The recent US banking debacle cannot rule out the expectations of credit tightening for businesses and households. The USD/JPY pair is struggling to stretch
Sterling is performing strongly after the release of stronger than expected UK CPI data, indicating a rise in inflation rather than a slow-down in February. As a result, it is highly likely that the BoE will hike interest rates by another 25bps during their meeting tomorrow. However, there is now speculation on whether there will
The two year yield is down to 4.041% that’s down -13.5 basis points and down from 4.13% before the Fed decision. That is driving the USD down as a first reaction. The Fed kept the target terminal rate at 5.1% the same as December. They do not see the PCE inflation moving below 2% target