USDTRY prints new record highs around 18.6500 on Thursday. Inflation in Türkiye ran at a new 24-year top in October. The CBRT is expected to cut rates to single digits later in the month. The Turkish lira remains on the defensive and lifts USDTRY to new all-time peaks around 18.6500 on Thursday. USDTRY now shifts
I call a “lap”, a price move that moves quickly in one direction and retraces the full move almost as fast. THat is what has happened in all of the major currency pairs. You often have a lap happen because the market misinterprets a news item, or there is a player or players who single
In the FOMC statement yesterday, markets got a taste of something new and interpreted it in a dovish light as the Fed noted that: “In determining the pace of future increases in the target range, the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic
Gold prices edged higher on Thursday, helped by a slight dip in the dollar, although U.S. Federal Reserve Chair Jerome Powell’s hawkish remarks limited further gains in zero-yielding bullion. FUNDAMENTALS * Spot gold rose 0.2% to $1,638.32 per ounce, as of 0118 GMT, after falling 0.8% on Wednesday. * U.S. gold futures fell 0.6% to
Dollar is trading mildly lower in Asian session today, but manages to maintain most of this week’s gain so far. The greenback will look into today’s FOMC rate decision, where a 75bps hike is well priced in. Today’s Fed meeting is not about today, but how Chair Jerome Powell would indicate the rate path ahead.
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Qualcomm shares fell 7% in extended trading on Wednesday after the chipmaker reported in-line fiscal fourth-quarter earnings but offered poor first-quarter guidance. Qualcomm also said it implemented a hiring freeze at the start of the current quarter. Here’s how the company did: Earnings: $3.13 per
USD/JPY prints three-day downtrend, holds lower ground near intraday bottom. Yields stay sluggish around multi-day high after Fed-inspired run-up. US warns North Korea for test-firing missiles toward Japan, South Korea. US ISM Services PMI will decorate calendar ahead of the key NFP. USD/JPY bears keep the reins for the third consecutive day even as Tokyo
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During a live panel at the Web Summit in Lisbon, Changpeng Zhao (colloquially styled as CZ), CEO of cryptocurrency exchange Binance, shared his viewpoint on why it’s so important for crypto projects to continue their development in the bear market. As told by CZ: “It’s easier to hire talent in the bear market. A year
There are a lot of traders, and analyst who think that because the Fed is near the destination for rates, that the Pavlov reaction should be to “buy stocks baby”. It’s “green grass and high tides forever”. That may be a short term idea, but I am not so sure it is sustainable. Looking back
This is a message worth $450 billion. It’s a screenshot that began circulating on WeChat yesterday and then Twitter and claims that China’s top politburo official Wang Huning will lead a plan to reopen in March. It’s unverified, unsourced and nothing more than words on a white background. The Chinese stock market has gained at
Gold price in the national capital gained Rs 51 to Rs 50,964 per 10 grams on Wednesday amid weak rupee, according to Securities. In the previous trade, the gold had touched Rs 50,913 per 10 grams. Silver, however, dropped Rs 502 to Rs 59,265 per kilogram. The rupee depreciated 12 paise to 82.71 against the
The financial markets are all very steady today, awaiting FOMC rate decision. A 75bps hike a done deal, and the key is whether Fed Chair Jerome Powell would signal slower tightening pace ahead. For now, Dollar is the weaker one for today, followed by Euro and Sterling. On the other hand, Yen is the stronger
Private payroll growth held strong in October while worker pay rose as well, particularly in the leisure and hospitality industry, according to a report Wednesday from payroll processing firm ADP. Companies added 239,000 positions for the month, ahead of the Dow Jones estimate of 195,000 and better than the downwardly revised 192,000 in September. Wages
In this article PARA Follow your favorite stocksCREATE FREE ACCOUNT Tom Cruise in “Top Gun: Maverick” Source: Paramount Paramount Global on Wednesday reported third-quarter revenue that was up 5% from a year ago, but the results missed expectations as it suffered from cord cutting and a drop in advertising revenue. Its shares were down about
The GBP/USD is almost flat ahead of the Federal Reserve’s policy decision. The US ADP report was better than expected, and salaries edged higher, will the Fed pivot? The British Pound was cushioned by the Bank of England’s (BoE) monetary policy decision looming. The GBP/USD is subdued amidst a choppy trading session as traders brace