This chart is a gem Here’s the 30 minute chart of the cash S&P 500 index. You can see the big drop at the open today, some choppy trading for the next hour and then utterly relentless buying. It’s the kind of pattern we’ve seen play out so many times, though not always as picturesque
LONDON: Oil fell by over 3 per cent on Monday to a one-week low, dropping for a third session after official data showed refining throughput and economic activity slowed in China, an indication that COVID-19 outbreaks are crimping the world’s second-largest economy. Brent crude was down $2.21, or 3.1 per cent, at $68.38 a barrel
Risk aversion is a main theme today, on situation in Afghanistan, poor China data, and spread of Delta virus. Yen and Swiss Franc rise broadly, and to a lesser extent followed by Dollar. Commodity currencies are all in red, in particular with Aussie pressured by increasing pandemic restrictions. On the other hand, Euro and Sterling
Traders on the floor of the New York Stock Exchange. Source: NYSE Retail earnings have never been better, but the delta variant remains the wildcard. In theory, this is a golden moment for retailers, which begin reporting earnings this week. Consider the following: The consumer is flush. The American consumer has never had more disposable cash
S&P and Dow closed at record levels on Friday After the Dow and S&P closed at record levels on Friday, the indices across the board are trading lower in early New York trading. A snapshot of the market currently shows: Dow down -227 points or -0.64% at 35288. S&P index -20 points or -0.45% 4447.83
North American retail giant Walmart is looking for an experienced crypto expert who can develop and drive an ambitious digital currency strategy and product roadmap. In the listing for the role, Walmart indicates it is looking for someone who has a track record in leading and scaling businesses, with at least 10 years of experience
Singapore is reportedly the next port of call for Kakao’s globalization agenda for its legacy blockchain platform Klatyn. According to a report by The Korea Herald on Monday, Kakao has established two new blockchain-based entities — the Klatyn Foundation and Krust — in the city-state. The Klatyn Foundation is a non-profit organization while Krust serves
Being a crypto-friendly country has paid off in terms of adoption, as a new study about Singapore revealed. “The State of Crypto in Singapore Report 2021,” conducted by crypto exchange Gemini in partnership with CoinMarketCap and Seedly, found that more than two-thirds of Singaporeans who have financial investments currently hold crypto. The report, which sampled 4,348
DXY regains the smile following Friday’s strong pullback. The recovery is expected to target recent tops near 93.20. DXY manages to pick up some buying interest and rebound from earlier lows in the 92.50 region. The continuation of the recovery could extend beyond the 93.00 mark in the short-term horizon, although a tough barrier is
A key consumer sentiment reading saw a dramatic drop in early August as the delta variant of Covid-19 increased fears about the path of the economy, the University of Michigan said Friday. The consumer sentiment index tumbled to 70.2 in its preliminary August reading. That is down more than 13% from July’s result of 81.2
Federal Reserve Chairman Jerome Powell adjusts his tie as he arrives to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, July 15, 2021. Kevin Lamarque | Reuters Shifting policy views amid unexpected economic data have opened the door
Daily thread to exchange ideas and to share your thoughts The bond market is having a bit of a rethink, keeping with the turn in the mood since Friday and that is the key spot to watch in FX to start the new week. The drag on yields sank the dollar at the end of last week
Risk tones remain more defensive but not quite as much as earlier in the day A snapshot of the risk barometers in the market reveals that the softer risk sentiment is still prevailing but things are slightly calmer in European trading so far: 10-year Treasury yields down 2.2 bps to 1.275%; low hit 1.248% WTI
Risk tones continue to stay on the defensive US futures looked to have calmed down a little mid-way through European morning trade but are now pulling back lower again as we’re about 30 mins from London midday. S&P 500 futures are down to the lows for the day with Nasdaq futures and Dow futures also
NEW DELHI: Gold prices held near a week’s high level on Monday. A plunge in US consumer sentiment allayed some concerns of an early tapering by the Federal Reserve. Gold futures on MCX were marginally up 0.08 per cent, or Rs 37, at Rs 46,977 per 10 gram. Silver futures shed 0.09 per cent, or
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Yen rises broadly in Asian session on a couple of risk off factor, all linked to the pandemic. The set of weaker than expected data from China suggested that recovery is losing much momentum as the coronavirus is back. Japan reported surge in infections while Australia is also back in tighter restrictions. Commodity currencies tumble