The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is also limited. For now, Sterling, Swiss
AUD/USD picks up bids to rebound from the key Fibonacci retracement support. 12-day-old resistance line, 200-SMA join bearish MACD signals to challenge recovery. The mid-July swing high can acts as additional support during the south-run to yearly low. AUD/USD renews intraday high around 0.6880 during early Wednesday morning in Europe. In doing so, the Aussie
Reddit co-founder Alexis Ohanian’s venture capital (VC) firm Seven Seven Six (776) is looking to raise a crypto investment fund worth $177.6 million, while current and former executives from Galaxy Digital and Genesis are raising a $500 million fund of their own. 776’s crypto play According to an Aug. 29 report from The Information, 776’s
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The EURUSD moved above its 200 hour moving average earlier in the European session. Recall from yesterday, the price tried to crack above that moving average line but could not sustain momentum. The European run-up took the price up near 1.0051 before rotating back to the downside. Focus returned to a higher dollar after better
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Gold price in the national capital on Tuesday fell Rs 66 to Rs 51,469 per 10 grams amid rupee appreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 51,535 per 10 grams. Silver, however, gained marginally by Rs 4 to Rs 55,550 per kilogram from Rs 55,546 per
Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,
A “Now Hiring” sign is posted at a Home Depot store on August 05, 2022 in San Rafael, California. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market is still extremely tight, the Bureau of Labor Statistics reported Tuesday.
In this article BBY Televisions are seen for sale at a Best Buy store in New York City. Andrew Kelly | Reuters Best Buy on Tuesday said sales dropped by about 13% in the fiscal second quarter, as the retailer felt a pullback from inflation-weary shoppers. The company’s shares rose about 4% in early trading,
Euro among top performers on Tuesday on ECB rate hike expectations. Pound under pressure amid risk aversion. EUR/GBP gains more than 170 pips during the last three trading days. The EUR/GBP accelerated the move to the upside and jumped to 0.8601, reaching the highest level since July 6. While the euro is among the best
The NZDUSD held resistance last week against the 200 hour MA. On Thursday, the run higher stalled ahead of the level. On Friday, the price moved right up to the level and backed off (after the core PCE data). On Friday, the selling was strong with the pair closing at the session lows. Today, the
About the most interesting item from the session was early on, with afternoon comments from White House Press Secretary Karine Jean-Pierre saying the White House is anticipating a slowing in jobs growth, and that employment data is going to ‘cool off’. For those awaiting the non-farm payroll report out of the US on Friday this
Gold prices inched up in early Asian hours on Tuesday, as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher for longer to combat inflation. FUNDAMENTALS Spot gold XAU= ticked 0.1% higher to $1,739.14 per ounce, as of 0058 GMT. Prices hit a one-month
Dollar rises broadly in Asian session, extending the post-Powell rally. Risk-off sentiment is a factor giving the greenback another boost. At the same time, 10-year yield is back above 3.1% in Asia, giving Dollar another lift, and hammers Yen at the same time. The trend will likely continue for a while with an empty calendar
The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher interest rates. “We will have a recession because we’ve had five months of zero M2 growth, money supply growth, and the Fed isn’t