That will make for quieter trading in the session ahead, especially since markets are honing their focus on the US jobs report tomorrow. The dollar is mildly lower as major currencies are still stuck in narrow ranges for the most part. USD/JPY is down 0.4% to 136.80, keeping below its 200-day moving average at 137.44
Dollar is currently taking a pause from its recent gains, with traders digesting the impact of Fed Chair Jerome Powell’s previous testimony. While Powell will appear again in front of Congress today, there shouldn’t be any more surprises. The market has also remained relatively unmoved by a stronger-than-expected ADP private job report, with many traders
Share: GBP/USD stays around 1.1840s, following hawkish remarks by the US Federal Reserve (Fed) Chair Jerome Powell. Powell’s two-day testimony before the US Congress will conclude on Wednesday at the US House of Representatives, with market participants expecting him to remain hawkish. Therefore, the GBP/USD is exchanging hands at 1.1843, gaining 0.10%. Read More… The GBP/USD pair consolidates the
As the Chair Powell testimony continues, the US 10 year yield moved down to test a floor level going back to February (see hourly chart above). That floor comes near 3.90%. The low today reached 3.899%. The yield has moved higher and trades back at 3.952%. The 200 hour MA at 3.964% and the 100
Oil prices traded lower on Wednesday, extending losses after U.S. government data pointed to weak demand, which exacerbated fears that more aggressive U.S. interest rate hikes would pressure economic growth. Brent crude futures were down $1.07 cents, or 1.3%, to $82.28 per barrel at 11:19 a.m. ET (16:19 GMT). U.S. West Texas Intermediate (WTI) crude
A “Now Hiring” sign is displayed on a shopfront on October 21, 2022 in New York City. Leonardo Munoz | View Press | Corbis News | Getty Images Job openings declined slightly in January but still far outnumber available workers as the labor picture remains tight, according to data released Wednesday. The Labor Department’s Job
“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas on Wednesday reported a big fourth-quarter loss and slashed its dividend after the costly termination of its partnership with Kanye West’s Yeezy brand in
The market was looking for a hawkish shift from the Bank of Canada today but it didn’t come. Instead the central bank emphasized nascent signs of a coming slowdown and referred to previous guidance to pause rate hikes. Looking ahead to the April 12 BOC decision, the market still sees a 27% chance of a
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In a surprising turn of events, the clear and direct hawkish message delivered by Fed Chair Jerome Powell has sent Dollar soaring and stocks tumbling overnight. The greenback maintained its solid gains during Asian session, and all eyes are now on Friday’s non-farm payroll report to see what the next move will be. While Canadian
Share: NZD/USD languishes near its lowest level since November amid sustained USD buying. The USD remains pinned near a multi-month top amid bets for aggressive Fed rate hikes. The prevalent risk-off environment further acts as a headwind for the risk-sensitive Kiwi. The NZD/USD pair seesaws between tepid gains/minor losses, around the 0.6100 mark through the
The EURUSD has a 148 pip trading range now. That is well above the 22 day average of 80 pips (about a month of trading). Technically, the price cracked below both the 200 hour MA and trend line support at 1.0613 soon after the Fed Chair prepared remarks. There was a corrective move higher that
Oil prices steadied in early Asian trade on Wednesday as industry data showed a draw in U.S. crude oil inventories, after the market tumbled in the previous session on fears more aggressive U.S. interest rate hikes would hit demand. Brent crude futures for April gained 8 cents to $83.37 per barrel by 0120 GMT. U.S.
A customer reaches for a box from the Lego Dots range at the Lego A/S store in London, U.K., on Monday, March 7, 2022. Bloomberg | Getty Images Lego sales are building on pandemic-era growth, boosted by a diverse slate of products that cater to kids and adults alike. On Tuesday, the privately held Danish
The dollar is keeping in a firmer spot after the more hawkish remarks by Fed chair Powell yesterday. As Treasury yields march higher, the dollar is catching a strong tailwind and pushing for key technical breaks since yesterday. EUR/USD nearing its 100-day moving average at 1.0517 and key support near 1.0500 USD/JPY pushing for a