After a bit of a sluggish mood early on, the dollar is catching some bids across the board with EUR/USD now trading down to the lows for the day at 1.0173. The high today reached 1.0230 earlier after the news on the restart of the Nord Stream pipeline. This now puts the 100-hour moving average
NEW DELHI: Gold prices tumbled on Thursday, to hit nearly their lowest in a year ahead of rake hike prospects by major central banks. The European Central Bank is set to raise interest rates for the first time in 11 years on Thursday, with a bigger-than-expected move seen as increasingly likely as policymakers fear losing
The forex markets are generally steady in Asian session today, with all major pairs and crosses stuck inside yesterday’s range. BoJ’s decision to stand pat on policy triggered little reaction. Instead, focus will turn to ECB, with main question on whether a 25bps hike will be delivered as pre-committed, or a bolder 50bps hike. As
Here is what you need to know on Thursday, July 21: Investors remain on the sidelines and the market mood remains cautious early Thursday ahead of the European Central Bank’s (ECB) highly-anticipated policy announcements. Later in the day, the US economic docket will feature the weekly Initial Jobless Claims data and the Federal Reserve Bank
A major Bored Ape Yacht Club (BAYC) NFT hodler lost 100 Ether (ETH), worth $150,000 as a result of a joke bid on his own registered Ethereum Name Service (ENS) domain. The NFT whale, who owns 57 BAYC NFTs and goes by @franklinisbored on Twitter, minted the ENS domain “stop-doing-fake-bids-its-honestly-lame-my-guy.eth” using an alternate wallet on
Yesterday, there was a risk-on flows into the AUDUSD as the dollar fell, stocks rallied and yields moved lower. Today, the AUDUSD is not seeing upside risk-on flows despite another up day for stocks. In fact the AUDUSD is lower on the day. Admittedly, the yields are higher. Whereas the 10 year yield was below
There is a higher closer for the major indices for the 2nd consecutive day with the Nasdaq leading the way also for the 2nd day in a row. The Dow which moved over 700 points yesterday but only rose by 48 points today. The S&P also had a modest rise relative to the 105.84 rise
Gold in the national capital on Wednesday rose by Rs 20 to Rs 50,202 per 10 grams, according to Securities. In the previous trade, the precious metal finished at Rs 50,182 per 10 grams. Silver also gained Rs 35 to Rs 55,467 per kg from Rs 55,432 per kg in the previous trade. “Spot gold
Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is recovering slightly but stays as the worst performer for the week so far, as it’s
In this article NFLX Netflix shares jumped after the company said it lost fewer subscribers than anticipated during the second quarter. The streamer also said it aimed to unveil its lower-cost, ad-supported tier in early 2023. This comes on the heels of Netflix tapping Microsoft to be its partner on the ad-supported offering. “We’ll likely
Italian Prime Minister Mario Draghi won a confidence motion in the upper house Senate on Wednesday, but three main coalition parties refused to take part in the vote, effectively dissolving his administration and he is said to announce his resignation in the chamber tomorrow. The motion asked the house to approve a speech made by Draghi
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The GBPUSD has now moved back below the natural support at 1.2000 and has seen some liquidation of some long positions. The price has moved down to 1.19850. Looking at the 5 minute chart above, the pair is testing the midpoint of the day’s trading range and is back below the rising 200 bar MA
A massive heatwave and the showdown in the Conservative party may be stealing the headlines in the UK but in financial markets, the focus today is on the June consumer inflation report. After printing above 9% in May, we are expected to see annual inflation tick higher to 9.3% last month in the UK. As
NEW DELHI: Gold prices were trading almost flat on Wednesday as the weakness in the dollar was balanced by rate-hike fears by the US Fed next week. The yellow metal failed to make the most of a pullback in the dollar, with demand for bullion being restrained amid prospects of aggressive monetary policies and rising
New Zealand and Australian Dollar trade broadly higher on the back on improving market sentiment. Asia indexes are tracking US stocks higher. On the other hand, Dollar continues to extend its near term correction, in particular against commodity currencies. Yen is also under some pressure. Meanwhile, European majors are mixed for now, waiting for UK