A combination of factors assisted USD/JPY to regain positive traction on Tuesday. A positive risk tone undermined the safe-haven JPY and extended some support. Fed rate hike bets acted as a tailwind for the USD and also provided a modest lift. The USD/JPY pair built on its steady intraday positive move and climbed to a
The USDCHF moved lower on Friday, and closed the day right near its 100 hour moving average (blue line currently at 0.9189). The price in the early Asian session based near that moving average line and closing level and started to move higher. After a brief look above the 100 day moving average at 0.9212
Overall market sentiment is rather mixed for the moment. Despite the initial steep selloff overnight, major US indexes staged an impressive come back towards the end of the session. NASDAQ even eked out a slight gain. Gold is back above 1800 handle while Bitcoin appears to be supports by 40k for now. Investors are probably
APAC major FX traded in limited ranges awaiting testimony from Federal Reserve System Chair Powell on Tuesday (11 January 2022 US time (see bullets above)). EUR, GBP, AUD, NZD, CAD are all slghtly firmer against the USD while USD/JPY has managed a 20 or so point gain. Yen crosses are thus higher on the session.
Gold prices were flat on Tuesday, as markets anticipated quicker rate hikes based on key DecemberU.S. inflation data due later this week, while stronger bond yields continued to cap gains. FUNDAMENTALS * Spot gold was little changed at $1,803.29 per ounce by 0017 GMT. U.S. gold futures were up 0.2% to $1,802.20. * The benchmark
Jamie Dimon said the U.S. is headed for the best economic growth in decades. “We’re going to have the best growth we’ve ever had this year, I think since maybe sometime after the Great Depression,” Dimon told CNBC’s Bertha Coombs during the 40th Annual J.P. Morgan Healthcare Conference. “Next year will be pretty good too.”
The Financial Times (FT) quotes multiple economists, including former Bank of England official Tony Yates, to back UK PM Boris Johnson’s decision to ride out the Omicron wave of Covid-19 infections with minimal restrictions might turn out to be the right call for the economy. Additional quotes They have accused ministers of setting policy based
The price of WTI crude oil futures are settling at $78.23. That’s down $0.67 or -0.05% The high for the day reached the $79.43. The low for the day extended to $77.86. Looking at the hourly chart, the price over the last five or six hours has been trading above and below its 100 hour
Yen rebounds notably as US futures take a dive just ahead of North American session, while European index also reverse earlier gains. While Dollar is dragged down by Yen, it’s somewhat still resilient against others. Selling is mainly seen in Swiss Franc and, to a lesser extent, Euro. Commodity currencies are mixed. We’ll have to
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While many countries are inclined to simply ban the use of Bitcoin (BTC) and virtual assets, regulators in the United Arab Emirates are taking a different approach. The country has been consistently enacting its vision of becoming a blockchain capital by providing frameworks to guide crypto businesses on how to operate in accordance with the
The early-week US economic highlight will be CPI and that will dominate the conversation until it’s released but on Friday there could be a new set of worries with the release of December retail sales. The consensus is +0.1% on the headline, +0.3% excluding autos and +0.2% on the control group. Bank of America has
New Delhi: Gold in the national capital on Monday declined Rs 54 to Rs 46,448 per 10 grams in line with weak international precious metal prices along with rupee appreciation, according to HDFC Securities. The precious metal settled at Rs 46,502 per 10 grams in the previous trade. Silver also dipped by Rs 178 to
In this article 2330-TW A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. Sam Yeh | AFP | Getty Images Top chipmaker TSMC notched a new quarterly sales record at the end of 2021 boosted by continued demand from top clients including Apple and Qualcomm for semiconductors. The Taiwanese foundry, which
USD/TRY posts modest gains and eyes a test of 14.0000. The pair looks side-lined between 13.00 and 14.00 so far. Turkey’s Unemployment Rate remained at 11.2% in November. The Turkish lira depreciates further and pushes USD/TRY back to the proximity of the 14.00 hurdle at the beginning of the trading week. USD/TRY stays capped by
A snippet from a note via Scotia on the euro. Analysts at the bank expects its more likely for the Federal Reserve to hike by 100bps this year than it is for the European Central Bank to hike by even 10bps (and order of magnitude difference). This is a driver of Scotia’s view of EUR/USD