In 2023, the Canadian Dollar may emerge as a more attractive pro-cyclical bet. Economists at ING believe that the USDCAD pair could plunge to the 1.25 level. Overall commodity picture should prove rather supportive for the CAD in 2023 “We expect Brent to average slightly above $100/bbl next year, and Western Canadian Select around $85/bbl.
In the new trading day, the Austrian employment statistics will be released with expectations for an employment change of 15.0K vs. 0.9K last month. The unemployment rate is expected to remain steady in at historically low levels of 3.5%. The data can be a market mover. So understanding the levels in play is key. BTW…The
After the whole ‘mini-budget’ fiasco, which culminated in Liz Truss losing her position as prime minister, we are now seeing calmer tones in UK politics but not necessarily that much for the better. The fiscal statement today will be a stark contrast to Trussnomics as UK chancellor, Jeremy Hunt, will unveil a package of tax
NEW DELHI: Gold prices were trading lower on Thursday, slipping on the back of a firm US dollar after better-than-expected US retail sales data clouded hopes of a smaller rate hike. On the other hand, Poland’s president on Wednesday said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears
The forex markets are still engaging in corrective trading in Asian session today. Despite stronger than expected job data, Aussie trades lower following mild risk-off sentiment. Kiwi, Loonie and Sterling are are softer. On the other hand, Dollar, Yen and Swiss Franc are the firmer ones, while Euro is mixed. For now, the selling in
Federal Reserve Governor Christopher Waller said Wednesday he’s open to reducing the level of interest rate increases soon, so long as the economic data cooperates. The rate-setting Federal Open Market Committee is set to meet Dec. 13-14. Market expectations are running high that policymakers will approve another rate hike, but this time opting for a
In this article LOW Follow your favorite stocksCREATE FREE ACCOUNT Lowe’s said Wednesday that high inflation isn’t hurting sales as it reported third-quarter earnings that beat Wall Street expectations. The company also upped its guidance for its full-year earnings. Shares of Lowe’s rose 3% Wednesday. related investing news TJX hits an all-time high as reason
Open interest in gold futures markets shrank by more than 16K contracts on Wednesday, extending the downtrend for the third session in a row according to preliminary readings from CME Group. Volume followed suit and dropped by around 123.2K contracts. Gold: Further upside targets the 200-day SMA Gold prices corrected from recent peaks and printed
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Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Gemini exchange were freezing withdrawals. Genesis Global is the lending partner for interest-bearing Gemini Earn. Eager to differentiate itself from contagion-stricken crypto
Bank of America Global Research discusses EUR/USD technical outlook and looks for hints of and H&S top. “A technical bottom pattern would go a long way in supporting the potential for further gains in the euro spot rate next year. One pattern to be on watch for is a head-and-shoulders bottom. If we assume the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices rose by Rs 320 to Rs 53,449 per 10 grams in the national capital on Wednesday in line with firm global trend and depreciation in the rupee, according to Securities. In the previous trade, the precious metal had closed at Rs 53,129 per 10 grams. Silver, however, dropped Rs 125 to Rs 62,682
The financial markets are generally quiet today, with European indexes and US futures trading slightly lower into US session. In the currency markets, most major pairs and crosses are stuck inside yesterday’s range, with Yen and Dollar on the softer side, Euro and Swiss Franc on the firmer side. Sterling and Canadian Shrug respecting inflation
Wholesale prices increased less than expected in October, adding to hopes that inflation is on the wane, the Bureau of Labor Statistics reported Tuesday. The produce price index, a measure of the prices that companies get for finished goods in the marketplace, rose 0.2% for the month, against the Dow Jones estimates for a 0.4%
In this article TGT Follow your favorite stocksCREATE FREE ACCOUNT Target‘s profit fell by around 50% in its fiscal third quarter as it cleared through unwanted inventory and sales slowed heading into the holidays, prompting the company to lower its expectations for retailers’ most important time of year. The company also said Wednesday it plans
Economic data from the United States was mixed and bolstered the US Dollar. US Retail Sales grew the most in eight months, while Industrial Production disappointed. Albeit Australia’s WPI jumped, it won’t deter the Reserve Bank of Australia from 25 bps hikes. The AUDUSD retreats from weekly highs around 0.6800 after a sales report in