The AUDUSD broke below the 100 hour MA for the first time since March 16, and the break sent the pair from 0.7491 to the session low at 0.7466. That will was just above the swing lows from Thursday’s trade at 0.74656. There are now 3 lows on the hourly chart at that level over
This via ANZ, in summary from a longer piece: Authorities said that it will undertake a staged lockdown of Shanghai as they try to contain its spread. Traffic data from Baidu shows peak morning time congestions is down 45% y/y as workers stay home. Shanghai accounts for 4% of China’s total oil consumption. Markets are
The crude oil market heads into another week of uncertainty, buffeted on one side by the ongoing war between Russia and Ukraine and the expansion of COVID-related lockdowns in China, the world’s largest crude importer. Brent crude and U.S. West Texas Intermediate (WTI) crude surged last week. The two benchmarks gained 11.5% and 8.8%, respectively,
Yen remains the weakest one today, but there is some short covering as global benchmark treasury yields also retreat. Selling focus is turning Sterling instead. For now, Aussie and Dollar are the strongest one for the day, followed by Canadian. Euro is mixed, helped by recovery against Swiss Franc. Gold recovers quickly after initial dip
The gold price is down on the day, losing around 1.9% at the time of writing as the US stock market rises later in the day for a positive close in hopes of a breakthrough in peace talks surrounding the Ukraine crisis. Ukraine Peace talks hopes The FT released an article that states that Russia
The USDJPY continues to run to the upside. The pair is now approaching the 122.00 level. The high prices reach 121.965 so far. Moving above the 122.00 level and staying above would push the price toward the higher extremes on the weekly chart (see earlier post HERE). There may be some sellers against that 122.00
Welp, that was quick. But it is fitting with the sort of moves we have seen this year with 10-year Treasury yields hitting well above 2% and oil already having hit $125 so early on in Q1. Breathtaking stuff. USD/JPY jumped above 123.00 in Asia trading and has now briefly clipped 125.00 before some profit-taking.
NEW DELHI: Gold prices dropped on Monday as hopes of peace talks between Russia and Ukraine strengthened, denting the demand for the safe-haven asset. A strong rally in the US dollar also weighed on the sentiments. The dollar index hit a more than one-week high, making gold more expensive for other currency holders. Gold futures
Yen’s selloff resumes as another week starts on rising treasury yields while Asian stocks are mixed. European majors are also under some selling pressure, with Euro, Sterling and Swiss Franc steady among themselves. Meanwhile, Australian Dollar is performing well together with Dollar, trailed by Canadian and New Zealander. Gold dips notably on Dollar strength and
Huawei reported its first yearly revenue decline on record in 2021 as U.S. sanctions continued to hurt the company. But the Chinese technology giant’s income surged last year as it focused on boosting profitability. “Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are
“Fertilizer prices were already high before the war. They have now reached record levels amid a precipitous drop in Russian supply… The result is that fertilizer is about three to four times costlier now than in 2020” – Jon Emont and Silvina Frydlewsky, Wall Street Journal writers Sanctions against Russia following its invasion on Ukraine have
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The USDJPY has moved up 13 the last 14 trading days and in the process has seen a move higher of 740 pips. Yield differentials between the US and the Japan rate has been a big contributor to the move higher (see post here). The same is true for the EURJPY and the Euro and
Oil futures extended gains on Thursday morning, after sharply rising in the first portion of the week, as traders weighed additional supply disruptions following reports of storm damage at a major export terminal system on the Black Sea. Brent futures were up about $1.06, or 0.9%, to $122.66 a barrel and U.S. West Texas Intermediate
A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington. Jim Bourg | Reuters In a grim sign for the housing market’s busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the
CNN’s Andrew Carey and Yulia Kesaieva in Lviv have been reporting on the Russian invasion of Ukraine and wrote in an update that Ukraine’s military intelligence head said that Russian President Vladimir Putin could be looking to carve Ukraine in two – like North and South Korea. ”Brig. Gen. Kyrylo Budanov, the head of Ukraine’s Defense