The American Dollar has difficulty finding its feet, down 1.39%, as shown by the US Dollar Index. Speculations that the Fed would tighten in smaller increases mounted as the labor market gave signs of easing. The US 2s-10s yield curve inversion, the deepest since the 1980s, and US recession fear increased. Gold price continues to
The crypto and tech industry has seen a slew of staff cuts this week against a backdrop of difficult market conditions, though on a positive note, some are bucking the trend. Crypto companies, including crypto exchanges, venture capital firms and blockchain developers, have been forced to reduce headcount in order to stay nimble amid the
RTY (Russell 2000 futures) had a bear breakout down, but then an immediate reversal price action on the 4 hour timeframe, bringing the Russell back into the upward channel (redish channel) shown in the video. Due to the failed breakout, most bears thought they were in a breakout down. But this is a “fakie” or
It’s a bit of a controversial time for the meeting to take place but one can figure what this is really all about in just one glance. As much as Europe would like not to admit it, China remains a key pillar for the economy as a trading partner and business investor. I mean just
Gold prices were little changed on Friday, but the metal was headed for a second straight weekly drop as a stronger dollar and U.S. Federal Reserve’s hawkish policy stance clouded outlook for the non-yielding bullion. FUNDAMENTALS * Spot gold rose 0.1% at $1,631.33 per ounce, as of 0043 GMT, but it was down 0.6% for
After initial jitters, Dollar rose broadly overnight as Fed Chair Jerome Powell indicated the possibility of higher terminal rate in the current tightening cycle. US stocks ended notably lower and risk-off sentiment carried on in Asian session. Yen is also rising on risk aversion. Nevertheless, markets are taking a breather for now, with focus firstly
In this article SBUX Follow your favorite stocksCREATE FREE ACCOUNT Starbucks on Thursday reported quarterly earnings and revenue that topped analysts’ estimates, fueled by U.S. customers spending more on iced coffee drinks and Pumpkin Spice Lattes. The Seattle-based coffee company also said U.S. traffic improved in the quarter, and has nearly bounced back to 2019
Analysts at Goldman Sachs offer their expectations on Friday’s critical United States (US) Nonfarm Payrolls (NFP) release due for release at 12:30 GMT. Key quotes “Nonfarm payrolls rose by 225k in October.” “Unemployment rate unchanged at 3.5%.” “Average hourly earnings +0.35% MoM & +4.7% YoY.” “Labor demand remains elevated despite declining this year.” “Big data
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Bitcoin (BTC) has been lingering above $20,000 for the past nine days, but worsening conditions from traditional markets are causing traders to doubt if the support will hold. On Nov. 3, the Bank of England raised interest rates by 75 basis points to 3%, its largest single hike since 1989. The risks of a prolonged
The EURUSD is clawing back some of the trend move decline seen in trading today. That trend move has seen the EURUSD move from a intraday high of 0.98389 to a low of 0.97295. There was little in the way of a correction in that move until recently. Looking at the 5 minute chart above,
The model for 4Q growth in the US from the Atlanta Fed showed a sharp jump to 3.6% from 2.6% on November 1. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 3.6 percent on November 3, up from 2.6 percent
Gold price in the national capital fell Rs 402 to Rs 50,597 per 10 grams on Thursday, amid weak global trends, according to Securities. In the previous trade, the yellow metal had closed at Rs 50,999 per 10 grams. Silver, also, tumbled Rs 1,244 to Rs 58,111 per kilogram. “Gold inched lower on Federal Reserve
Sterling dives sharply after dovish BoE rate hike, which saw two doves dissented. Aussie and Kiwi are following as next weakest as risk-off sentiment persists. Dollar’s post-FOMC rally is accelerating, partly supported by expectation of a higher terminal rate for Fed, and partly by risk aversion. Yen is following as next strongest, and then Canadian,
The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released Thursday. Unit labor costs, a measure of productivity against compensation, increased 3.5% for the July-to-September period, below the 4% Dow Jones estimate and down from 8.9% in the
In this article ATUS Follow your favorite stocksCREATE FREE ACCOUNT Igor Golovniov | Lightrocket | Getty Images Altice USA‘s shares dropped more than 20% and trading in the stock was briefly halted Thursday, after the company posted a weak earnings report. The company, which provides broadband, cable-TV, wireless and phone services, saw its shares sink