The USD is moving to new session lows against all the major currencies. The dollars declines are the greatest versus the CHF and the GBP (see chart above). The USDCHF is now down close to -1.55%. The greenback is lower by -1.52% against the GBP. The USDCHF tumble is the largest one-day decline since November
The recent hawkish comments from the US Fed chairman let the gold investors take a cautious approach, pulling down prices to near $1800 an ounce this week. Easing fears of a global recession, higher US bond yields, and a three-month high US dollar also weighed down the sentiment of the precious yellow metal. Gold surged
Job creation decelerated in February but was still stronger than expected despite the Federal Reserve’s efforts to slow the economy and bring down inflation. Nonfarm payrolls rose by 311,000 for the month, the Labor Department reported Friday. That was above the 225,000 Dow Jones estimate and a sign that the employment market is still hot.
US equities were hit hard today and the S&P 500 virtually erased its gains for the year in the second day of selling. Stocks tried to rally early on a higher US unemployment rate but worries about banks led to heavy selling in the latter half of the day as Silicon Valley Bank was taken
Last week, investors were caught off guard by a series of surprises. However, the largest bank failure in the US since 2008 proved to be the most overwhelming for them. The risks of contagion from Silicon Valley Bank appeared to outweigh concerns about higher interest rates, inflation, and recession. Consequently, traders sought safety, resulting in
Share: USD/CHF extended its drop past the 20/50-day EMAs after facing resistance at the 200-day EMA. USD/CHF Price Forecast: Shifted bearish, though needs to crack 0.9130s to test YTD lows. USD/CHF falls below the confluence of the 20 and 50-day Exponential Moving Averages (EMAs), extending its daily losses to more than 1% Friday. A mixed
The USDJPY has just reached a low of 134.104. That is getting closer to the natural support at 134.00. It is also within a swing area (see red numbered circles) between 134.068 and 134.15. That area was defined by swing levels going back to February 20, 21 and 24 (before basing and moving higher on
Gold closed with a gain of nearly 0.70% in the week gone by, erasing steep losses made on Federal Reserve Chair Powell’s hawkish testimony. It ended the week at $1867.24. Gold gained on worries about the US banks as Silicon Valley Bank defaulted, which led to spillover concerns. Some softer than expected data in the
The U.S. labor market surprised to the upside yet again in February, powered by continued strength in the service sectors of the economy. The leisure and hospitality sector added 105,000 jobs last month, according to the Labor Department, accounting for roughly a third of the total 311,000 jobs gain. The health care and social assistance
In this article ULTA Follow your favorite stocksCREATE FREE ACCOUNT Kylie cosmetics display at an ULTA store in New York. Scott Mlyn | CNBC Ulta Beauty topped Wall Street’s expectations for its holiday-quarter earnings and revenue, as shoppers continued to save room in their tighter budgets for beauty products during the celebration season. The holiday
Here is one side of the argument: The reality is that the Fed and Treasury have a magic bullet here. They can back up the deposits and with the ‘held to maturity’ problem, they could exchange those bonds for cash and take them on their balance sheet in a kind of mini-QE. If either of
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Bitcoin (BTC) refused to let $20,000 support die for good on March 11 as the weekend opened to a battle for lost ground. Bitcoin shakes off USDC depeg Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $20,200 at the time of writing. A brief dip below the $20,000 mark overnight was short lived, and
Share: The California Department of Financial Protection and Innovation closed Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Equity prices of SVB Financial Group collapsed during the week. On Wednesday the bank surprised by announcing it needed to raise $2.25 billion in stock, triggering concerns. The situation around Silicon Valley
The price of WTI crude futures are settling at $76.68. That’s up $0.96 or +1.27% The low today reach $74.77. The high extended to $77.11. The lower dollar/lower rates help to send the price back to the upside. Other commodities also gained with gold up $36 or 1.99%. Silver was up $0.42 or 2.13%. For
Gold prices edged up on Friday as the dollar eased after data showed that weekly U.S. jobless claims grew more than expected, spurring hopes that a softening labor market could pave the way for less-aggressive rate hikes from the Federal Reserve. FUNDAMENTALS * Spot gold was up 0.1% at $1,832.59 per ounce, as of 0103