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
Sterling drops sharply today even after BoE raised interest rate as expected. The trigger was the warning that of recession as high inflation hurts real incomes of household and profits of businesses. Aussie and Kiwi are also trading lower as yesterday’s risk-on rally fades. Dollar, on the other hand, is regaining some of the post
In this article NKLA Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it shipped its first semitrucks to customers in April, and that it now has purchase orders and letters of intent for over 500 of its battery-electric Tre trucks. The company is also working with clients including Anheuser-Busch Inbev
Wall Street is falling sharply, volatility soars as US yields hit multi-year highs. Emerging market currencies are under pressure on risk aversion. USD/MXN erases losses and looks at 20.50. The USD/MXN is rising sharply on Thursday, erasing Wednesday’s losses and so far, recovering 20.30. During the last two hours, the pair rose more than 1.20%
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The NASDAQ index is up 413 points or 3.27% at 12978. Looking at the hourly chart, that takes price above its 100 hour moving average at 12946 for the 1st time since April 5. Stay above that moving average is the best case scenario for the buyers. The next upside target would be the 38.2%
Nothing like Fed day and a remarkable Champions League night put together, eh? The dollar is finding steadier footing after yesterday’s drop following the FOMC meeting decision, with Fed chair Powell having ruled out 75 bps rate hikes in subsequent meetings. There’s going to be a debate on peak hawkishness and I reckon that will
NEW DELHI: Gold prices climbed over a per cent on Thursday after Federal Reserve Chair Jerome Powell turned less hawkish over rate hikes. However, silver outperformed the yellow metal with a wide margin. Pritam Patnaik, Head – Commodities, Axis Securities said that gold prices rallied after the Fed event, primarily due to the fact that
Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger ones for the week, but they only have a slim advantage over the greenback. Sterling is the worst, followed by
In this article ETSY AMZN An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector
USD/CAD renews weekly low during three-day downtrend. EU sanctions on Russia challenge oil supplies, underpinning energy prices. Fed’s Powell triggered USD weakness by rejecting 75 bps rate hike expectations. Second-tier US data, risk catalysts will direct short-term moves ahead of Friday’s jobs report from the US and Canada. USD/CAD remains pressured around a one-week low,
Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date and even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support. Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to
The USDCAD has seen down and up price action today in a narrow trading range (around 49 pips). The high price reached during the last hourly bar, extended up into a swing area between 1.28467 to 1.2857. The price extended to 1.28526. The current price has moved back down to 1.2826 and in the process
Treasury Secretary Janet Yellen (and ex Fed Chairman) is speaking on economy saying: 1st quarter GDP was not a good read on the strength of the economy Consumer spending, business investment remains strong America is outperforming other countries Credit quality remains excellent, banks are well capitalized Inflation is too high, necessary to bring it down