Euro remains the worst performer for the day so far, as weighed down by the news that Russia’s state-controlled Gazprom would stop gas delivery via the Nord Stream 1 due to a fault. Yet, the common currency is not giving up yet, as losses are relatively limited. Dollar is the strongest one, followed by Swiss
Is the U.S. economy showing no signs of a recession or hurtling inescapably towards one? Is it in fact already in one? More than a month after the country recorded two successive quarters of economic contraction, it still depends who you ask. Steve Hanke, professor of applied economics at Johns Hopkins University, believes the U.S.
Russia will not be supplying natural gas to Germany until further notice. Can Germany close the natural gas gap? Strategists at Commerzbank try to give an answer. Rationing threatens in winter “In the best-case scenario (the 80 TWh gas gap) and a mild winter, supply could just about be met through conservation and stock withdrawals,
United States-based crypto lending platform Celsius, which collapsed and stopped the withdrawal option amid the market meltdown in June, pledged its readiness to partially return money to customers. However, there’s a catch — as the company has filed a motion with the United States Bankruptcy Court, its pledge would only apply to Custody and Withold
The dollar continued to move higher last week. The US jobs report did show a modestly higher than expected NFP value, but there were other dampening details including more people entering the workforce which may take some pressure off wages. US yields move higher out the curve as traders prepare for a tighter Fed for
Another surge in energy prices beckons in Europe after Russia has decided to keep the Nord Stream pipeline shut, citing a “leak” found during maintenance. This came at the end of the supposed three-day repair period and now the flows will be put off indefinitely instead. Let’s be real. Nobody believes the “leak” story and
Gold prices were flat on Monday, after jumping as much as 1.2% in the previous session, as cautious investors focused on the U.S. Federal Reserve’s rate-hike path following a mixed jobs data. FUNDAMENTALS * Spot gold was unchanged at $1,611.48 per ounce, as of 0148 GMT. * U.S. gold futures were flat at $1,722.50. *
GBP/USD prints seven-day downtrend as bears attack the year 2020 bottom. Firmer DXY joins fears of worsening energy crisis to exert downside pressure. Liz Truss’ plan to overcome cost of living crisis gains more accolades than Rishi Sunak’s reasoning. Any recovery on Truss’ selection appears tepid amid US holiday, broad risk-off favoring the greenback. GBP/USD
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Germany’s coalition parties agreed to a €65 billion package to shied consumers and businesses from energy price hikes on Sunday. The package will be paid for via an energy windfall tax and bringing forward a planned 15% global minimum corporate tax. Energy prices are likely to spike further on Monday after Gazprom announced that Nord
Most industrial metals lost heavily from their mid-March highs when Russia triggered military operations in Ukraine. Weak demand amid slow global economic growth and a two-decade-high US dollar adversely hit the prices of industrial commodities. In the domestic future’s platform, Aluminium is the top loser, shedding prices by more than 38 per cent. Copper and
Nonfarm payrolls rose solidly in August amid an otherwise slowing economy, while the unemployment rate ticked higher as more workers rejoined the labor force, the Bureau of Labor Statistics reported Friday. The economy added 315,000 jobs for the month, just below the Dow Jones estimate for 318,000 and well off the 526,000 in July and
Apart from data analysis done alone or in cooperation with private companies, authorities may request information from centralized exchanges. Due to regulation, centralized exchanges may also be obligated to share such information. However, not all cryptocurrency exchanges collaborate with authorities. A centralized exchange is a cryptocurrency exchange that is run by a single entity, such
The USDCHF is on a 5 day up streak, started last Friday. Today, the verdict is still out. The pair closed at 0.98147. The current price is below that at 0.9812 currently. The streak higher is in jeopardy. The move to the downside was started with the high stalling near the high from yesterday at
MUFG Research closed out a previous short on EUR/USD from 1.0290 and is now taking its USD exposure into a long USD/JPY trade from 140.00. They target 146.00 with a stop at 136.50. “We are recommending a new long USD/JPY trade idea… We believe there is room for USD/JPY to extend its advance in the
NEW DELHI: Gold prices edged higher on Friday but were headed for a straight third weekly drop. Gold futures on were trading flat, up 0.08 per cent or Rs 39 at Rs 50,109 per 10 grams. However, silver futures gained 0.21 per cent or Rs 113 to Rs 52,715 per kg. Patnaik, Head – Commodities,