Not much going on in the FX space to kick start the new week The dollar was the top performer on Friday by some margin, owing to the stronger US jobs report at the time here. So far today, the greenback is steadier as major currencies are showing little appetite as European trading gets underway.
NEW DELHI: Gold kicked off the new week on a negative note. The yellow metal plunged over a per cent during the early trade on Monday in the domestic market, following global footsteps. The stronger-than-expected US job market report have dampened the sentiments for bullion. The dollar index rallied which affected the demand for precious
While the currency markets are rather quite, big surprise is found in gold price, which smashed to as low as 1684, hitting the lowest level since March. Silver also tumbled to as an eight-month low of 22.5. The move was, for certain, exaggerated by the ultra thin Asian morning. Yet, the near term bearishness is
Richard Clarida Scott Mlyn | CNBC Federal Reserve Vice Chairman Richard Clarida said Wednesday the central bank is likely to hit its economic targets by the end of next year and start raising interest rates again in 2023. While he said the jobs market still has to recover, Clarida noted that inflation is tracking to
Signage outside the Novavax Inc. headquarters in Gaithersburg, Maryland, on Friday, March 12, 2021. Al Drago | Bloomberg | Getty Images Novavax announced that it will delay the submission of its Covid-19 vaccine to the Food and Drug Administration for emergency use authorization until its fourth quarter. Shares of the biotechnology company slipped 10% after
GBP/JPY reversed an intraday dip to the 152.60 area and moved back to the 153.00 mark. The formation of a bullish inverted head & shoulders supports prospects for further gains. A sustained move beyond the 153.40-45 neckline is needed to confirm the positive outlook. The GBP/JPY cross rallied over 40 pips from the early European
Blockchain Australia, an association representing the local crypto industry, has warned that the country has fallen behind on the regulatory front due to the undue persistence of a dismissive “wild west” narrative. The association has been proactive in its engagement with the state in recent months, as the government continues to review the future of
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ADP payroll and ISM trump the US job gains. The NY Fed Nowcast estimate for 3Q grown slowed to 3.7% from 4.2% last week. How can that be given the strong US jobs report? Indeed the nonfarm payroll added 0.18% to the weekly change in the NY Fed’s model. However, those gains were trumped this week, by the ADP jobs
Oil is lower as futures market reopens for the week’s trade China is restricting travel as part of restrictions imposed to combat the latest virus outbreak in various parts of the country. Beijing has notably tightened inbound and outbound travel. This week the EU is set to meet to review the countries it allows travellers
Dollar soared towards the end of the week as the stellar job report should give Fed much confidence to start tapering later in the year. Reactions from stock markets and yields were also positive, with DOW and S&P closing at new records while 10-year yield rebounded. Together with the steep fall in gold, overall development
Initial claims for unemployment insurance edged lower last week, meeting Wall Street expectations, while longer-term unemployment signs showed improvement, the Labor Department reported Thursday. First-time filings for benefits dipped to 385,000 for the week ended July 31, a decline of 14,000 from the previous week as the jobs market remains essentially in a holding pattern
In this article BYND Packs of Beyond Meat plant-based burger patties are displayed for sale. Paul Yeung | Bloomberg via Getty Images Beyond Meat on Thursday reported a wider-than-expected loss as higher costs and investments in its business weighed on margins. The company also expressed caution for the second half of the year, citing the
NZD/USD continues with the previous week’s selling pressure on Monday. US Dollar Index remains steady near 93.0 on stronger NFP report. Upbeat Chinese Trade data and interest rate hike expectations keep New Zealand’s dollar grounded. NZD/USD extends the previous session’s downside momentum in the Asian session on the first day of the fresh trading week.
Cryptocurrency is a new technology that has entered the common discourse, setting the stage for a complete upheaval of our long-established financial systems. Of course, some skepticism is unavoidable. Crypto’s association with criminality adds to this shared sense of skepticism. There is no denying that cryptocurrency has and continues to be used for illicit activities
German DAX pressures that the all-time high but backs off The German Dax move to a intraday high today of 15808.24. That was just short of the July 44 high of 15810.68. The inability to make a new high led to some rotation back to the downside. Nevertheless, the German DAX index is closing marginally higher