Both the AUDUSD and NZDUSD has seen up and down price action today, as the trading week works toward the close. However, both pairs have found sellers near their hourly MAs at the session highs. Staying below keeps the sellers more in control today and going into next week. Looking at the hourly chart of
Today we learned that the US labor market remains as hot as it’s ever been and wage growth is strong. On its own, that would point to a strong consumer but markets aren’t acting that way. Higher interest rates, angst about the Ukraine war and recession talk are dominating the airwaves. At times, that kind
Just as they have every month since this past summer, officials from OPEC and its allies met via teleconference Thursday and decided to continue their program of modest additions to the market. The producers group, which has 23 members including Saudi Arabia and Russia, issued a statement saying it would add 432,000 barrels a day
Dollar turns slightly softer in early US session even though non-farm payroll report came in slightly better than expected. Yen is also weak on rising benchmark global yields. On the other hand, Euro jumps broadly as supported by hawkish comments from ECB officials. As for the week, Aussie and Euro are now the strongest ones
In this article UAA The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Under Armour sees a tough year ahead, roiled by global supply chain challenges and another round of Covid lockdowns in China that are putting a dent in demand. The sneaker
The GBP/USD will finish the week with hefty losses of 1.74%. Positive US employment figures and BoE’s speaking keeps the GBP downward pressured. GBP/USD Price Forecast: To remain downward biased unless GBP bulls reclaim 1.2600. The British pound appears to regain composture but remains losing in the day, down 0.06%, after the Bank of England
Bitcoin (BTC) dipping below $36,000 “smells like capitulation,” one trader says as suspicion mounts over U.S. stock markets. In a tweet on May 6, Cointelegraph contributor Michaël van de Poppe suggested that the BTC price was at least giving “serious signals.” Analyst: Stocks saw “forced liquidation” After plunging to 10-week lows in line with equities on
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The Nasdaq index is trading to a new year low at 12194.60 . That took out the low from Monday at 12202.41. The price now trades at the lowest level since November 30, 2021. The NASDAQ closed 2021 at 12888.28. It is below that level It closed 2022 at 15644. The Nasdaq is down -24.75%
There was blood on the streets in US trading yesterday as we saw the S&P 500 fall by 3.6%, the Nasdaq down 5.0%, and the Dow fall by 3.1%. It was rather ugly, especially more so as stocks puked right after having rallied the previous day after the FOMC meeting. For now, US futures are
NEW DELHI: Gold prices bucked global trends and were trading higher in the Indian market. However, the yellow metal was set for another weekly loss, third in a row. In the global markets, firm US dollar and Treasury yields rallied on a hawkish US Federal Reserve stance, with investors awaiting jobs data due later in
Dollar dropped notably overnight after Fed Chair Jerome Powell surprised the markets by ruling out a 75bps rate hike. The comment also boosted US stocks sharply higher. Risk-on sentiment helped commodity currencies rebound. But European majors are lagging behind. Yen is so far mixed, with slight retreat in US 10-year yield. BoE rate decision would
An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada. Chris Wattie | Reuters Shares of Shopify plunged more about 15% Thursday after the company reported first-quarter results that missed analysts’ estimates, and said it will acquire logistics start-up Deliverr for $2.1 billion in cash and stock. Shopify posted adjusted earnings of 20 cents per
Peter Chia and Quek Ser Leang, FX Strategists at UOB Group, suggested that EUR/USD could accelerate losses on a breakdown of 1.0470. Key Quotes 24-hour view: “The sharp and swift sell-off in EUR came as a surprise as it plummeted to 1.0491 before rebounding. The rapid decline appears to be running ahead of itself but
The USDCAD has moved back above the 200 and 100 hour MA (joining the party seen in other currency pairs) and has now moved up to test the swing area between 1.2846 to 1.2957 (see red numbered circles). Getting above that area would open the door to the next swing areas including the high from
Hungary’s Prime Minister Victor Orban has become Russia’s chief supporter in the EU and that support is threatening a break in EU unity. Orban sent a letter to European Commission president Ursula von der Leyen this week saying his country couldn’t support the latest sanctions plan “in its current form.” Orban said the current timeline
New Delhi: Gold in the national capital on Thursday rallied by Rs 559 to Rs 51,081 per 10 grams reflecting gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 50,522 per 10 grams. Silver also jumped Rs 1,179 to Rs 63,427 per kg from