Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with a series of aggressive interest rate increases ahead. “I think the Fed has shown that we’re in the process of recalibrating our policy to get inflation back down to our 2%
US Dollar Index grinds higher after positing the first weekly gain in three. US Treasury yields regain upside momentum following strong US NFP, hawkish Fedspeak. Increasing odds of September rate hike, mixed concerns allow DXY to stay firmer. Headlines from China, optimism ahead of ECB test greenback buyers before Thursday’s US CPI. US Dollar Index
The EURUSD has moved lower after the US jobs report showed a stronger than expected gain in nonfarm payroll. The move to the downside took the price back below the 100 and 200 hour moving averages at 1.07221 and 1.07177 respectively. The low price extended to 1.07033 so far. The current price trades at 1.0711.
Primer: UK PM Johnson no-confidence vote at 18:00-20:00BST/13:00-15:00EDT today – Link Courtesy of my friends at Newsquawk Overview UK PM Johnson is expected to survive the no-confidence vote, according to current betting odds, which gives him a 12-month pass from being subject to such proceedings again. However, surviving the vote is not always enough; previous
London copper prices on Monday scaled to their highest in more than one month, as relaxation of COVID-19 lockdowns in top metals consumer China and hopes that the United States would cut tariffs on Beijing lifted sentiment. Three-month copper on the London Metal Exchange was up 2.1% at $9,695 a tonne, as of 0352 GMT,
Major Asia indexes trade mildly higher today but the forex markets are quiet. Trading will likely be subdued ahead with Swiss, France and Germany on bank holiday, while the US economic calendar is empty. But an eventful week will kick start with RBA rate decision tomorrow, followed by ECB on Thursday. Then the week would
On Monday Amazon will give investors 20 shares for every one they owned on Friday, June 3. The new split-adjusted shares are trading at $123.33 in Monday’s premarket. Typically, share splits cause a rally in price action. Amazon (AMZN) is set to trade in the low $120s for the first time since 2010. That is because
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No-loss lottery decentralized finance (DeFi) platform PoolTogether has reached 100% of its legal defense funding goal via the sale of NFTs. It has taken the project just ten days to reach its funding goal of 769 Ether (ETH) or $1.4 million, signaling strong support from the DeFi community who are rallying against a lawsuit that
The GBPUSD retraced Wednesday’s decline yesterday and in doing so move back up toward the 100/200 hour moving averages (blue and green lines in the chart above). Recall on both Tuesday and Wednesday, the price tested the 200 hour moving average before falling below that level on Wednesday and racing to the downside. The subsequent
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Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88 a barrel at 0112 GMT, while
EUR/USD reverses pullback from a six-week-old resistance line. Sustained trading beyond 200-SMA, firmer RSI hints at further recovery. The previous support from mid-May also challenges bulls, 1.0460 appears a tough nut to crack for bears. EUR/USD picks up bids to consolidate Friday’s losses as buyers eye another battle with the short-term key resistance line. That
Both the GBPUSD and USDCHF moved in the strong dollar direction after the US jobs report, but both have retraced back to near converged 100/200 hour moving averages. However, traders leaned against the converge moving averages and have pushed the prices back away. Looking at the GBPUSD, the 100 and 200 hour moving averages come
The price of WTI crude oil futures are settling at $118.87. That’s up $2 or 1.71%. The high price today reached $119.42. The low price extended to $115.23. One week ago today, the price closed at $115.07. That puts the gain for the week at $3.80 or 3.3%. The high for the week reached $119.98
Gold prices inched up marginally to a month’s high on Friday, thanks to a muted US dollar that has added to the sheen of the yellow metal. Bullion was on track for the third straight weekly gain. Gold prices advanced amid a retreat in the dollar index and disappointing macroeconomic data from the US, said