Euro is under heavy selling pressure today on renewed worries over cut off of Russia gas supply. It’s additionally pressured and Germany 10-year yield breaks below 1% handle again. For now, Sterling appears to be a distant second. On the other hand, Dollar and Yen are gaining most, followed by Swiss Franc. Commodity currencies are
People shop in a supermarket as inflation affected consumer prices in New York City, June 10, 2022. Andrew Kelly | Reuters Everyone who cares knows that recessions happen when there are two consecutive quarters of negative growth — everyone, that is, except for the people who actually decide when the economy is in recession. For
In this article MMM 3M announced Tuesday it will spin off its health-care business into a separate publicly traded company. The new business will focus on wound and oral care, health-care IT and biopharma filtration, the material science company said in a release. That includes products like its bandages, skin adhesives, oral aligners, air purifiers
NASDAQ:MULN plummeted on Tuesday’s trading session amid a worsening mood. EV stocks were mostly trading lower as Tesla cooled off to start the week. Canoo announces its quarterly earnings date after officially signing on with WalMart. Update: NASDAQ:MULN collapsed on Tuesday, ending the day at $0.87 per share after losing 14.36%. Financial markets suffered from
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The JPY is the weakest of the majors. That has JPY crosses moving to the upside. One of the JPY pairs which has seen a strong move is the CADJPY. It is up 0.91% on the day. That move has erased a good bit of the move down on Friday. There were reasons – technical
I’ve been noting since yesterday that the bond market is the spot to watch in trading this week and we’re seeing a return of the bids at the end of last week in trading today. 10-year German bund yields have now fallen by nearly 4 bps to 0.985% – its lowest in almost four weeks:
Gold rose marginally on Tuesday on the back of a weaker dollar, but the upside was capped as investors refrained from taking bigger bets ahead of the US Fed’s meeting over interest rate hikes. Expectations of around a 100-basis point rate hike surged after US annual consumer prices saw their sharpest spike in more than
Markets continue to be very quiet in Asian session today. Investors are clearly holding their bets ahead of tomorrow’s FOMC rate hike. Dollar is a softer one together with Yen and Swiss Franc. On the other hand, Canadian Dollar is firmer together with Aussie. Euro and Sterling are mixed. Generally speaking, most major pairs and
UBS on Tuesday missed expectations for the second quarter of 2022 as its wealth management and investment banking divisions saw falling client activity on the back of the global market downturn. The Swiss bank posted a net profit attributable to shareholders of $2.108 billion, below analyst expectations aggregated by the company of $2.403 billion. It
Analysts at TD Securities (TDS) offer their outlook on the EM currencies and the main underlying theme impacting them this week. Key quotes “The trend remains for richer G-spread curves across the EM SSA spectrum. Both Asian and Latin American names exhibit a clear tendency in this direction, while this is less obvious in EMEA.”
The blockchain space is seeing some areas of strength despite the perceived downturn in the market. The perpetual futures funding rates for Bitcoin (BTC) and Ether (ETH) have flipped back to positive on major exchanges, which shows bullish sentiment among derivatives traders. In addition, Bitcoin started trading below its cost basis, which has marked previous
The USDCAD is looking to take back all the gains seen from the sharp rise on Friday and continuation run higher in the Asian session today. Recall from Friday, the pair found support buyers against the swing low from June 28th near 1.28185. The low price reached 1.28214 and started the run higher. That move
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Oil prices rose on Monday, bolstered by a slightly weaker U.S. dollar and stronger equity markets in a session that seesawed between supply fears and expectations that rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement rose 68 cents, or 0.66%, to $103.88 a barrel by 1402 GMT, while
Overall sentiment appears to be positive in very quiet trading today. Major European indexes are trading higher while US and Germany benchmark yields are recovering mildly. Aussie is leading commodity currencies higher, as well as Sterling. Yen is currently the weaker one, followed by Swiss Franc and Dollar. Euro is mixed despite poor Germany business