There’s a lot of speculation lately about whether the U.S. is officially in a recession. Both President Joe Biden and Federal Reserve Chair Jerome Powell said we’re not there just yet, pointing to the strong labor market and rising wages. The official declaration typically comes from the National Bureau of Economic Research, and it has
In this article COIN Coinbase shares dropped in extended trading on Tuesday after the crypto exchange reported a loss of over $1 billion in the second quarter and missed analysts’ estimates for revenue. Here’s how the company did: Earnings: Loss of $4.98 per share, vs. loss of $2.65 per share as expected by analysts, according
EUR/JPY picks up bids to refresh intraday high near two-week top. US Treasury yields await more clues after regaining upside momentum the previous day. Russian pipeline halt, hopes of no change in BOJ policy despite acceleration in price rise challenge buyers. Japan PPI improved on YoY, inflation data from China, Germany and the US will
On Aug 9, automated market maker Curve Finance took to Twitter to warn users of an ongoing exploit on its site. The team behind the protocol noted that the issue, which appears to be an attack from a malicious actor, was affecting the service’s nameserver and frontend. Don’t use https://t.co/vOeMYOTq0l site – nameserver is compromised.
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Gold prices were flat on Tuesday as dollar and Treasury yields fell, while investors looked forward to U.S. inflation data later this week that could offer more clarity on the Federal Reserve’s rate hike path. FUNDAMENTALS * Spot gold were flat at $1,786.86 per ounce, as of 0112 GMT, after rising 0.8% in the previous
The US 10 year yield moved up to test the 100 day MA on Wednesday and again on Friday last week (blue line in the chart above). Today the high yield of 2.851% also sniffed the MA level at 2.862%. Staying below the moving average keeps the lid on the rates. It would take a
Headlines: Markets: EUR leads, CAD lags on the day European equities lower; S&P 500 futures down 0.2% US 10-year yields up 3.6 bps to 2.80% Gold up 0.1% to $1,791.13 WTI crude up 1.3% to $91.91 Bitcoin down 3.1% to $23,320 It was a quiet session with little in terms of headlines or narratives for
The forex markets are very quiet in Asian session today, and could remain so for the day with an ultra light economic calendar. Australian Dollar and Swiss Franc are currently the stronger ones for the week, followed by Canadian and Kiwi. On the other hand, Dollar and Yen are both on the softer side, together
Farmers harvest a wheat field near Melitopol in Ukraine. Wheat, soybean, sugar, and corn futures have fallen from their March highs back to prices seen at the start of 2022. Olga Maltseva | Afp | Getty Images Food prices dropped significantly in July from the previous month, particularly the costs of wheat and vegetable oil,
In this article SAVE Spirit Airlines planes on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images Spirit Airlines reported a second-quarter loss as strong travel demand and higher fares weren’t enough to overcome a surge in costs. Spirit reported results less than
Rio Tinto Group is the world’s second largest metals and mining corporation which has its headquarters in London and Melbourne. Founded in 1873 and traded under tickers $RIO at LSE, ASE and also in US in form of ADRs, it is a component of both the FTSE100 and ASX200 indices. In terms of operations, Rio Tinto
Gold prices are hovering near a month’s high, having climbed sharply from their recent lows. The rising tensions between the US and China have given a leg-up to the yellow metal. However, upbeat jobs data in the US, recovery in the dollar and firm bond yields dented the bullion’s appeal. Traders are also awaiting the
In the morning video report, the USDCHF was trading between the 100 and 200 hour MAs (blue and green lines – see VIDEO here). The USD moved lower and so did the USDCHF. That took the price below the lower 200 hour MA and that momentum fell below a swing area near 0.9533 to 0.9537.
BoA on G10 FX, a quick snippet view: We expect the USD to remain strong for the rest of this year. The overheating US economy and the hawkish Fed have a lot to do with the strong USD.For the USD to weaken, the Fed has to be more concerned about growth than about inflation, and
The financial markets are trading with a risk-on mood today. Major European indexes are trading up while US futures also point to higher open. Commodity currencies are trading generally higher, as led by Aussie. Meanwhile, Dollar is leading Yen and Euro lower. Sterling and Swiss Franc are mixed for now, trading a bit on the