USD/CAD witnessed some selling on Wednesday and retreated further from an over three-month high. Rebounding oil prices underpinned the loonie and exerted pressure amid a subdued USD demand. Investors now eye the OPEC meeting, US macro releases and Powell’s testimony for a fresh impetus. The USD/CAD pair edged lower through the early European session and
Despite concerns over the new coronavirus variant Omicron, Fed Chair Jay Powell’s testimony before the Senate was hawkish. He suggested that the Fed could accelerate the tapering of asset purchases in order to curb strong inflation. US dollar extended rally against major currencies, with the exception of Japanese yen and Swiss franc. The testimony is
Fed Chair shifts his bias The Fed Chair shifted his bias toward the hawkish side getting rid of the “inflation is transitory” statement and plugging for a faster taper as well. The major indices all fell sharply with the small-cap Russell 2000 and S&P index leading the way (although the Dow and NASDAQ were also hit hard). The final numbers are showing: Dow
Numbers to watch out of South Africa The epicentre of covid cases in South Africa is where I’m watching for some real-world data on covid cases. I highlighted the earlier numbers, which were promising. Today’s data was just published and aren’t as good. They show 3143 new cases compared to a 1909 a day earlier.
New Delhi: Gold in the national capital on Tuesday jumped Rs 41 to Rs 47,217 per 10 gram in line with rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,176 per 10 gram. Silver in contrast dipped Rs 667 to Rs 61,337
Daniel Acker | Bloomberg | Getty Images Home prices are still considerably higher than they were a year ago, when the pandemic caused a massive run on housing, but the gains are finally starting to ease up. Home prices rose 19.5% in September year over year, down from a 19.8% annual gain in August, according
EUR/USD collapsed from 1.1370s down to 1.1240s on Jerome Powell’s hawkish remarks against the US Senate Committee on Banking and Housing. Fed’s Powell: “I will talk about speeding up taper at the coming Fed meeting.” The EUR/USD plummeted during the New York session, on Federal Reserve Chairman Jerome Powell, remarks against the Senate Committee on
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Overall market sentiment is stable, with major Asian indexes mixed, following the recovery in US stocks overnight. Yen and Dollar soften slightly after turning into consolidations, but Swiss Franc is still strong. Commodity currencies are mixed with no follow through buying with the current rebound attempt. In other markets, Gold is struggling in tight range
10-year Treasury yields approaching a key technical crossroads US 10-year yields are now down over 10 bps on the day to 1.42% and that is bringing things closer to a key technical region around 1.415%. The November low and the 100-day moving average (purple line) resides at the level so a break below that could
What we know The Omicron variant has 30 changes to it including a small insertion in the spike protein and three small deletions. Around 50% of these changes are in the receptor binding domain – this is the part of the spike protein use to bind to human ACE-2, which is the enzyme the coronavirus
United States-based digital asset exchange Kraken has announced it will begin supporting the viral meme coin Shiba Inu (SHIB) as of Nov. 30. There will be a minimum deposit of 373,000 SHIB ($16 USD), and the minimum trading volume is 50,000 SHIB ($2 USD). SHIB will initially be tradeable against the USD and Euro pairs,
MELBOURNE: Oil prices climbed on Tuesday, extending a rebound from last week’s plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant. U.S. West Texas Intermediate (WTI) crude futures jumped 99 cents, or 1.4 per cent, to $70.94 a barrel
In this article ETSY KR MAT CVS U.S. President Joe Biden announces the release of 50 million barrels of oil from the U.S. Strategic Petroleum Reserve as part of a coordinated effort with other major economies to help ease rising gas prices as he delivers remarks on the economy and “lowering prices,” during a speech
Here is what you need to know on Tuesday, November 30: With trading volumes returning to normal levels following the Thanksgiving break, the dollar gathered strength during the American trading hours on Monday but the sharp decline witnessed in the US Treasury bond yields caused the currency to lose interest. November (preliminary) Consumer Price Index
The forex markets are staying in consolidative mode today as overall market sentiment stabilized. Major European indexes are paring some of last week’s losses while US futures also point to higher open. But it remains to be seen if it’s just a dead cat bounce, or a reversal. Canadian and Australian Dollar are currently the