The GBPUSD has been waffling above and below the 2020 low at 1.1408 and the old 2022 low from September 7 at 1.1404. The price is trying to move further away from those lows in the current hourly bar with the price at 1.1388 currently. The sellers are making a play with the low for
The key takeaway from Putin’s announcement is that Russia has stepped up its aggression in maintaining a key focus on the conflict in Ukraine and that presents more relative uncertainty to markets. After having seen what happened with natural gas supplies, there is a risk that we could see that carry over to oil markets
NEW DELHI: Gold prices were trading flat on Wednesday, hovering near their lowest levels since April 2022 as investors prepared for the likelihood of another super-sized interest rate hike from the US Fed in its effort to tackle inflation. The dollar index hovered close to a two-decade high marked earlier this month, while the benchmark
Dollar is staying as the strongest one for the week as markets await FOMC rate hike. Yet, the greenback is still held below last week’s high against most counter parts except Loonie and Kiwi. Swiss Franc is also resilient while markets are speculation a larger than expected hike by SNB later on Thursday. Commodity currencies
Russian President Vladimir Putin attends a meeting of heads of the Shanghai Cooperation Organization (SCO) member states at a summit in Samarkand, Uzbekistan September 16, 2022. Foreign Ministry Of Uzbekistan | via Reuters Ukraine’s counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia’s economic troubles, as international sanctions continue
USD/CAD is nearing the 1.34 level. Economists at Commerzbank expect the Canadian dollar to remain under pressure unless the Federal Reserve disappoints markets. Bank of Canada’s frontloading seems to be having an effect “The restrictive monetary policy seems to be having an effect slowly. The economic data of the past months is pointing toward falling
A self-styled 23-year-old ‘Crypto King’ is facing a raft of demands among 140 of his investors as they try to claw back a collective total of $35 million from his company AP Private Equity Limited. According to a Sept. 20 CBC report, creditors are hard at work trying to unravel where all the money they
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In an earlier post I pointed out the break into a swing area between 1.3327 to 1.33839. The price also moved above the 50% retracement. IN the post I said: “A move back below the 1.3327 level would probably not be welcomed in the short-term.” The market was seeing the same thing and buyers indeed
Putin’s speech today was pre-recorded and all kinds of rumors have been flying around regarding what he will say. It was supposed to come today but it’s been pushed back now until 8 am Moscow time, according to reports. All the schedule changes and buzz have certaintly added to the anticipation. It’s a pre-recorded speech,
Gold prices rose by Rs 24 to Rs 49,766 per 10 grams in the national capital on Tuesday, according to Securities. In the previous trade, the precious metal settled at Rs 49,742 per 10 grams. Silver, in contrast, declined by Rs 222 to Rs 57,192 per kg from Rs 57,414 per kg in the previous
Canadian Dollar falls broadly in early US session after weaker than expected inflation reading. Yet, it’s still undecided on which currency is worst. Dollar is current in the driving seat, as lifted by extended rally in treasury yield. 10-year yield is trading up above 3.5 handle for the first time in more than a decade.
Bank of Canada’s Deputy Governor Paul Beaudry, in a speech to university students in Waterloo, Ontario, said “we will continue to take whatever actions are necessary to restore price stability for households and businesses and to maintain Canadians’ confidence that we can deliver on our mandate of bringing inflation back to 2%.” Even following inflation that
The USDCAD moved up today and in the process moved briefly above the next key upside target at the 50% retracement of the move down from teh 2020 high. That level came in at 1.33364. The high reached 1.3343 before rotating back to the downside. The 50% remains a key upside target to get to
The session yesterday featured a quieter mood as Europe was honed in on Queen Elizabeth II’s funeral. The return of UK markets might offer better liquidity conditions but overall, the look and feel in markets may be fairly more tepid and indecisive as we count down to the FOMC meeting decision tomorrow. The dollar is
NEW DELHI: Gold prices were trading marginally higher but in a tight range on Tuesday as investors maintained a cautious stance ahead of this week’s policy meeting by the Federal Reserve. The US central bank is expected to hike rates aggressively in an effort to curb inflation. Inflation concerns have prompted other central banks across