Markets start the first day of the second half dumping risk assets, from stocks to oil to gold and copper. Safe haven flow into treasury has indeed started overnight, pushing US 10-year yield back below 3% handle. In the currency markets, Yen rides on the negative sentiment and rises broadly. Aussie leads other commodity currencies
The USD/CHF to finish the week with decent gains of 0.39%. Risk-aversion dominates Friday’s session, as throughout the whole week. The USD/CHF double top in the daily chart is still in play, but failure at 0.9544, paves the way for further gains as buyers eye 0.9700. In the near term, the major is upward biased,
According to Mike Darlington, the CEO of Monstercat, an electronic music platform, and Jake Udell, the founder of social NFT platform Metalink, bear markets are a time to ideate and build new products. During this week’s episode of NFT Steez, a bi-weekly Twitter Space hosted by Cointelegraph analysts, both Darlington and Udell agreed that the
Oil came into the day on a three-day winning streak and looked to be extending that to four as gains stretched to $114.01 at the highs. But a sharp turnaround started four hours ago and it finished just below $110. One of the reasons was a comment from a US OPEC envoy who said he
“My own views on policy… are that we need to get to something like the neutral rate of interest by the end of the year, which in my judgment would be to around the 3.1% range of a nominal Fed funds rate.” “And so what would unwind the need to do that? Well, if there
New Delhi: Gold in the national capital on Friday rose by Rs 1,088 to Rs 51,458 per 10 grams, according to securities. In the previous trade, the precious metal finished at Rs 50,370 per 10 grams. Silver, however, fell by Rs 411 to Rs 58,159 per kg from Rs 58,570 per kg in the previous
Selloff in Aussie and Kiwi intensifies today following the steep decline in commodities. Safe-have flows continue to boost the Japanese Yen, which is additionally lifted by extended pull back in US and European benchmark yields. As for the week, Dollar is the strongest one, but the second placed Yen has the potential to overtake it.
Emerging market currencies extend weekly losses on Friday. US dollar firm on risk aversion, DXY up 0.65%. USD/MXN testing critical resistance that contains the 100-week SMA. The US dollar is rising against emerging market currencies on Friday, extending weekly gains boosted by global concerns about the growth outlook and as central banks raise interest rates.
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I’m skeptical of price action around quarter-end so I don’t want to pile on here but if I were to pile on I’d say: Europe is an uninvestible sinkhole of economic growth that’s more concerned with consolidating political power around a United States of Europe and social/green investment than in winning any kind of race.
With month-end and quarter-end out of the way, we can finally try to settle back into more familiar trading narratives but the long weekend coming up in US may make for a bit of a tougher time to grasp flows today. Nonetheless, equities are picking up from where they left off in 1H 2022 as
Gold prices edged lower on Friday, and were on track for a third straight weekly decline, as rising U.S. Treasury yields weighed on demand for zero-yield bullion. FUNDAMENTALS * Spot gold was down 0.1% at $1,805.39 per ounce, as of 0103 GMT, after hitting a more than six-week low of $1,801.50 in the previous session.
Swiss Franc remains the runaway leader for the week so far. Dollar and Canadian are competing for the second place. On the other hand, New Zealand Dollar is the worst, followed by Sterling and then Euro. Yen is mixed for now. Overall market sentiment is indecisive with stocks lacking follow through buying to the near
In this article RH Jason Kempin | Getty Images Entertainment | Getty Images High-end furniture chain RH on Wednesday slashed its outlook for 2022 revenue, anticipating consumer demand for its products will continue to soften in the back half of the year. The company now sees annual sales down between 2% and 5%, compared with
A double top formation strengthens the odds of a bearish reversal in the asset. An establishment below the 20-and 50-period EMAs adds to the downside filters. The RSI (14) is attempting to shift into the bearish range of 20.00-40.00. The USD/JPY pair has witnessed a significant fall after violating the crucial support of 135.55 in
In a small coastal town just north of Brisbane, Queensland, 20 members of the Coolum Surf Club have been taking part in an initial trial of the Erth Point System, a crypto rewards platform from the Australian company Rewards4Earth. Doug Flockhart, former CEO of Clubs Queensland, the body for community clubs in the state, spoke