In this article PG Tide, a laundry detergent owned by the Procter & Gamble company, is seen on a store shelf on October 20, 2020 in Miami, Florida. Joe Raedle | Getty Images Procter & Gamble on Friday reported mixed quarterly results as the consumer products giant faced rising commodity costs and warned it expects
US dollar loses momentum late on Friday amid lower US yields. EUR/USD practically flat for the week remains sideways. Price keeps moving below 1.0260 and supported by 1.0100. The EUR/USD printed a fresh daily low during the American session at 1.0145 and then rebounded back above 1.0200, amid lower US yields and higher equity prices in
The EURUSD is trading near the last Friday closing level of 1.1213. The current price is moving to an afternoon high at 1.0219 In the US session the price moved down to a low at 1.01448. That was within a lower swing area between 1.0140 to 1.1054 (see red numbered circles). The rebound back above
The USD is closing the day lower despite some higher than expected inflation measures at the start of the day. The Core PCE came in at 4.8% trend higher than the 4.7% expected. The employment cost index rose by 1.3% for the quarter which was also higher than the 1.2% expectations. University of Michigan consumer
New Delhi, Gold prices rose by Rs 255 to Rs 51,783 per 10 grams in the national capital in line with strong global cues, according to Securities. The precious metal had closed at Rs 51,528 per 10 grams in the previous trade. Silver also surged by Rs 1,610 to Rs 58,387 per kg from Rs
Dollar is recovering in early US session, follow another print of strong consumer inflation. 10-year yield is also back above 2.7% handle. Still, the greenback is the worst performer for the week together with Euro. Yen is retreating mildly but stays the strongest one for the week, followed by Sterling. Commodity currencies are mixed, slightly
An inflation gauge that the Federal Reserve uses as its primary barometer jumped to its highest 12-month gain in more than 40 years in June, the Bureau of Economic Analysis reported Friday. The personal consumption expenditures price index rose 6.8%, the biggest 12-month move since the 6.9% increase in January 1982. The index rose 1%
In this article XOM Exxon and Chevron posted record profits during the second quarter of 2022 as high commodity prices boosted operations, and as the oil giants kept spending in check. Chevron reported earnings of $11.62 billion during the three-month period, up from $3.08 billion during the second quarter of 2021. Exxon, meantime, posted second-quarter
Some of the shine has been taken of the strong US dollar but case for more sustained and deeper sell off is not yet compelling, explained analysts at MUFG Bank. They consider that global growth fears are supportive for the greenback. They added the Federal Reserve policy pivot is not yet sufficiently dovish. Key Quotes:
Bitcoin (BTC) rallied on the back of the United States Federal Reserve’s decision to hike interest rates on July 27. Investors interpreted Federal Reserve chairman Jeremy Powell’s statement as more dovish than the previous FOMC committee meeting, suggesting that the worst moment of tight economic policies is behind us. Another positive news for risk assets
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The Nasdaq has retraced the move lower and has made a new high for the day as the buyers and sellers continue the battle. The run back to the upside has also returned to, and now through, the July 22high (at 12093.02), and is within sniffing distance of the 38.2% retracement from the March29 high
Let’s take stock of the data releases first today. Here are the preliminary Q2 GDP figures, which exemplifies resilience despite mounting inflation pressures and the Russia-Ukraine conflict: And here are the consumer inflation figures for the month of July: The overall Eurozone readings tell the story for the most part but it belies underlying sentiment
NEW DELHI: Gold prices inched up on Friday but were set for a fourth consecutive monthly drop, pressured by the strong performance of the greenback and rising US bond yields. However, the metal is set for its best week since mid-May. The US economy unexpectedly contracted in the second quarter, raising risks of an economic
Yen’s rally intensified overnight and continues in Asian session. The move came in particular as US 10-year yield tumbled following the poor GDP report. For now, Dollar and Euro are the worst performing ones for the week, followed by Canadian. Sterling is following Yen as the second strongest and then Aussie. A large batch of
Growth in the euro zone economy accelerated in the second quarter of the year, but the region’s prospects get hit as Russia continues to reduce gas supplies. The 19-member bloc registered a gross domestic product rate of 0.7% in the second quarter, according to Eurostat, Europe’s statistics office, beating expectations of 0.2% growth. It comes