Dollar is gaining strength across the board as markets prepare for Fed Chair Jerome Powell’s semi-annual testimony in Congress. Powell’s views on the disinflationary process are expected to be a key focus, with traders also hoping for hints on the size of the upcoming rate hike and the outlook for the terminal rate. Quick update:
Share: GBP/USD plunges over 100 pips as the US Federal Reserve (Fed) Chairman Jerome Powell testifies at the US Senate on Tuesday. The US Dollar is rising despite US Treasury bond yields dropping. At the time of writing, the GBP/USD is trading at 1.1854 after hitting a daily high of 1.2065. Read More… The GBP/USD pair comes
All the major currencies are making new lows vs the USD. EURUSD: The EURUSD traded to a new low of 1.0573. That takes the price below a swing area between 1.0576 and 1.0585. The 1.0585 level was the low price from last Friday. Can the price now stay below that level? USDJPY: The USDJPY moved
Gold prices retreated on Monday from an earlier 2-1/2 week high as traders awaited U.S. Federal Reserve Chair Jerome Powell‘s testimony this week for hints on future rate hikes. Spot gold was down 0.2% at $1,851.52 per ounce as of 0930 GMT after hitting its highest since Feb. 15 in earlier trade at $1,858.19. U.S.
A shopping mall in Qingzhou, Shandong province, broadcasts the opening ceremony of China’s National People’s Congress on Sunday, March 5, 2023. Future Publishing | Future Publishing | Getty Images China’s economy will be forced to recalibrate because of a “fractured” global order, and the new drivers of growth will “disappoint” global markets, according to David
In this article DKS Follow your favorite stocksCREATE FREE ACCOUNT A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City. Spencer Platt | Getty Images Dick’s Sporting Goods on Tuesday reported holiday-quarter results that beat Wall Street’s expectations, citing a sales boost from the gift-giving season even with
High-yield 4.635% WI level at the time of the auction 4.641% Tail versus -0.6 basis points versus six-month average of 0.3 basis points Bid to cover 2.73X times versus six-month average of 2.56X Dealers 16.84% versus 21.1% six-month average Directs 20.67% versus six-month average of 18.9% indirects 62.49% versus six-month average of 60.1% The auction
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Some countries worldwide suffered bigger financial losses to cryptocurrency scams despite a massive bear market in 2022. Losses from crypto scams in Hong Kong amounted to 1.7 billion Hong Kong dollars ($216.6 million) last year — surging 106% from a year before — according to local police. The number of crypto-related scams reported in Hong
Australian dollar experienced a broad decline today following a subtle dovish shift in the statement, raising speculation of a potential earlier pause in the tightening cycle. While the general expectation of another hike in April remains unchanged, May is getting slightly more uncertain. So far, New Zealand dollar is the strongest performer today, followed by
Share: NZD/USD regains positive traction on Tuesday, though any meaningful upside still seems elusive. A generally positive risk tone undermines the safe-haven USD and benefits the risk-sensitive Kiwi. The market focus remains on Fed Chair Jerome Powell’s semi-annual congressional testimony. The NZD/USD pair attracts some buying on Tuesday and builds on the overnight late rebound
The US stocks opened higher, went even higher, but then gave up all/most of the gains into the close. The S&P and Dow did close higher for the 3rd day in a row. The Nasdaq 2-day win streak was snapped. The final numbers are showing: Dow Industrial Average was 40.45 points or 0.12% at 33431.43
Gold prices rose marginally on Tuesday as investors awaited Congressional testimony by U.S. Federal Reserve Chair Jerome Powell and monthly jobs data, both of which could influence the interest rate policy. Spot gold was up 0.1% at $1,847.81 per ounce, as of 0344 GMT. U.S. gold futures eased 0.1% to $1,853.20. Higher interest rates to
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022. Tom Williams | Reuters Federal Reserve Chairman Jerome Powell is set to appear before Congress with a tall task: Persuade legislators that he’s committed to bringing down
It’s been a bit of a choppy start to the new week as markets are keeping rather tentative awaiting the key events to follow. The RBA kicked off the March central bank bonanza today but without much surprises to be honest. The aussie is a little lower as a result as noted earlier here. All
Swiss Franc climbed against major currencies following the release of stronger-than-expected inflation data, which is expected to bolster the case for SNB to raise interest rates by 50bps during their upcoming meeting this month. Euro also gained ground, supported by hawkish comments from ECB officials, while Dollar trailed behind. Conversely, Australian Dollar is trading as