Markets turn dicey amid sluggish Asian session, allowing traders to pare recent moves. S&P 500 Futures lick its wounds near yearly low, stays around the lowest levels since early 2021. US 10-year Treasury bond yields dribble around the highest levels since 2011. Hawkish Fed bets, China-linked pessimism keep bears hopeful. After a heavy selloff and
The USD is the strongest and the NZD is the weakest as the markets are in turmoil. Flight to safety flows are in play with the JPY also up strongly. The AUD is following the NZD. The S&P is set to open in bear marker territory (down over 20%) as stocks take another large step
Headlines: Markets: USD leads, AUD lags on the day European equities lower; S&P 500 futures down 2.3% US 10-year yields up 9.6 bps to 3.25% Gold down 0.8% to $1,855.53 WTI crude down 1.5% to $118.82 Bitcoin down 13% to $23,608 The market is carrying over the selloff from last week through to this week,
New Delhi: Crude oil and gasoline prices have been a hot topic for almost everyone recently as the basket of crude oil that India buys has hit a decade high of $121 per barrel. Last week the international oil prices hit near a 13-week high, underpinned by robust demand from key buyers like the US.
Dollar rises broadly as the week starts as risk aversion extended into Asia session. But Yen is not benefiting much this time, as recovery lost momentum. Commodity currencies are also weak together with Euro. Swiss Franc and Sterling are just slightly better the others, but still weak against the greenback. The meetings of four major
EUR/USD has slid into the mid-1.0400s as the buck benefits from safe-haven demand and hawkish Fed bets. Some are eyeing a test of annual lows in the mid-1.0300 against an increasingly bearish backdrop. The main event of the week will be Wednesday’s Fed meeting, plus US Retail Sales and PPI data. Though
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Bitcoin (BTC) begins a new week with a totally different feel to last as BTC/USD seals its lowest weekly close since December 2020. A night of losses into June 13 means that the largest cryptocurrency is now edging closer to beating its ten-month lows from May. The weakness has left few guessing — shock inflation
The USDCAD had lower lows for 10 consecutive days that took the pair to a cycle low at 1.25166 on Wednesday. Yesterday the BOC warned about the housing market which got the ball rolling back to the downside for the loonie (to the upside for the USDCAD). The price shot higher reaching to the 100
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Russia’s Rosneft is holding back on signing new crude oil deals with two Indian state refiners, three sources with knowledge of the matter said, as it has committed sales to other customers. Indian refiners have been snapping up cheap Russian oil, shunned by western companies and countries since sanctions were imposed against Moscow for its
The DXY has registered a fresh three-week high at 104.36 on soaring inflationary pressures. Higher US CPI has unfolded the chances of a rate hike by 75 bps by the Fed. Weak Michigan CSI displays that inflation has dented the confidence of consumers. The US dollar index (DXY) is advancing sharply higher as soaring price
The NZDUSD rallied in the Asian session, and moved back up toward a topside trend line. Recall from yesterday, the price did move briefly above that trend line but quickly reversed to the downside. That move to the downside extended to a swing area between 0.63749 and 0.63792 toward the end of trading yesterday and
Beijing has reintroduced a few minor restrictions (all off-campus and “offline” sports activities for teens would be cancelled starting Sunday). Earlier a spokesperson for the city’s government said a recent outbreak “The recent outbreak … is strongly explosive in nature and widespread in scope“. Which does not sound too good at all. Even Chinese Communist
Oil bulls are starting to picture a world in which China, the engine of demand growth, comes back to the market. And if their analysis is right, the summer is going to be painful for oil consumers everywhere who’re already facing spiraling prices — whether that’s Americans paying about $5 a gallon gasoline, or Brits
Financial Japanese authorities met regarding a weaker JPY and accorded to act if the yen continues weakening. Despite falling on threats of an FX intervention by Japan, the GBP/JPY gained 1.30% weekly. GBP/JPY Price Analysis: To continue falling towards 164.25 before resuming to the upside. The GBP/JPY plunged on Friday and trimmed weekly gains of