Last week, the world appeared to be on the brink of an international banking crisis. The situation might have stabilized with Silicon Valley Bank filing for Chapter 11 bankruptcy, First Republic Bank receiving aid in the form of deposits from major players, and Credit Suisse obtaining a CHF 50B lifeline from SNB. Despite these developments,
Share: On Wednesday, the Federal Reserve will announce its decision on monetary policy. Analysts at Danske Bank see the Fed raising rates by 25 basis points despite recent turmoil amid banking sector jitters. Fed cannot afford to stop tightening monetary policy “This week, the ECB emphasized that there is no trade-off between inflation and financial
The major European stock indices are closing the day with sharp declines. For the trading week the indices are also lower as concerns about financial conditions in Switzerland hurt sentiment. Concerns about global growth are also weighing as is the ECB 50 basis point hike this week. Finally, the European indices have been relatively stronger
MCX Gold futures hit lifetime highs on Friday on the intraday (Rs 59,461) and closing basis at Rs 59,420 per 10 gram. The April futures settled up by Rs 1,414 or 2.44% from the Thursday closing price. Meanwhile, May Silver futures rallied over 3% and gained Rs 2,118 per kg to close at Rs 68,649.
A customer looks over merchandise at a store on March 14, 2023 in Miami, Florida. Joe Raedle | Getty Images Wholesale prices posted an unexpected decline in February, providing some encouraging news on inflation as the Federal Reserve weighs its next move on interest rates. The producer price index fell 0.1% for the month, against
The major US indices are closing the day with declines across the board. The declines were led by the Dow but the S&P also fell by 1%. The Nasdaq was the best of the worst. For the week, the pattern was the same as flow of funds moved into the big tech cap stocks of
This week we are going to take a look at the trading concept of #arbitrage and what it means. It is a trading approach that is a little different than anything else that we have looked at in this series. What is arbitrage? It is the art and science of studying trading opportunities in great
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The lawyer representing crypto entrepreneur Sam Bankman-Fried (SBF) in the ongoing FTX case will soon present a revised bail package to Judge Lewis Kaplan of the Southern District of New York. The move comes after Kaplan expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network (VPN) services while out on bail. Legal
Share: GBP/USD declined toward 1.2100 during the European trading hours but regained its traction amid renewed US Dollar (USD) weakness. The pair seems to have stabilized at around 1.2150 in the American session and remains on track to end the week in positive territory. Read More… The GBP/USD pair builds on the previous day’s strong move
The JPY is the strongest and the CAD is the weakest currency today. That has the CADJPY as the biggest mover. Looking at the currency rankings above, the CADJPY has moved 1.44%. That is just ahead of the USDJPY which has moved 1.40% today. The USDJPY move to the downside is being supported by sharply
COMEX gold prices witnessed another leg of rally and is poised for a third consecutive weekly gain of more than 3.5%, boosted by safe haven bids. The yellow metal started the week on a positive note, as investors rushed for haven assets, amid signs of failure of the Silicon Valley Bank in the US, after
In this article SBNY Follow your favorite stocksCREATE FREE ACCOUNT Federal Reserve Board Chair Jerome Powell speaks at a news conference following a two-day meeting of the Federal Open Market Committee, Wednesday, Sept. 18, 2019, in Washington. Patrick Semansky | AP Markets have changed their mind — again — about what they think the Federal
US rates moved sharply lower today as banking concerns along with hopes for a more dovish Fed next week, sent funds flowing into US treasuries. Looking at the US treasury curve, the: 2 year: 3.387%, down -29.3 basis points 5 year: 3.504%, down -23.2 basis points 10 year: 3.439%, down -26 basis points 30 year:
Market sentiment seems to have taken another hit as Silicon Valley Bank filed for Chapter 11 bankruptcy today. Bank shares in the US are in sharp decline, dragging down the broader market. Yen surges again, bolstered by falling treasury yields too. Dollar, Euro, and Swiss Franc emerged as the weakest performers for the day, with
Share: Financial turmoil weighs on investors’ mood and drags black gold lower. WTI bounced modestly after posting a fresh 2023 low of $65.22 a barrel. The barrel of West Texas Intermediate fell to $65.22 on Friday, its lowest since November 2022. It currently trades at around $67.30 a barrel, breaking lower amid financial turmoil weighing
IN trading today, the EURUSD moved higher in the Asian session, fell in the European morning session , and is moving higher in the US session. The move has taken the price positive on the week (it closed at 1.0636 last Friday). Ironically, the close from last week is right near the midpoint of the