The price of WTI crude oil is settling at $70.09. The low for the day reached $68.68. The high for the day extended up to $70.66. Technically, the price low today stalled right near its 200-hour moving average. That moving average is currently at $68.62. The subsequent move to the upside also moved back above
US 10 year yields The days of high yielding safe investments may be over for a generation. Jamie Dimon is continuing to warn about inflation but the bond market has moved on. Breakeven rates are below 2%, implying that the Fed is more likely to undershoot its target and nominal rates continue to fall, despite
Gold prices inch higher on Monday, supported by a weaker dollar and on the prospect of a more aggressive rate reduction by the U.S. Federal Reserve at its upcoming policy meeting. FUNDAMENTALS * Spot gold was up 0.2% at $2,580.81 per ounce, as of 0020 GMT. Bullion rose to a record high of $2,585.99 on
Traders continue to ramp up bets on a 50bps rate cut by Fed this Wednesday, with market odds now sitting at 65%. This increasing expectation is driving DOW futures higher, positioning the index for a potential new record high in the upcoming regular trading session. However, S&P 500 and NASDAQ are showing less momentum, struggling
The Dow Jones cracked a fresh all-time high during Monday trading. Despite the upside stretch, equities remain tepid overall. Investors are buckling down for the wait to Wednesday’s Fed rate call. The Dow Jones Industrial Average (DJIA) clipped into another record intraday bid to kick off the new trading week. The largest equities on the
Fundamental Overview Last Thursday, we finally got the breakout in gold after a softer than expected US PPI report. That was kind of a strange move but eventually the momentum picked up and we got the rally into new all-time highs. Late Thursday we have also got WSJ’s Timiraos publishing an article suggesting that a
USD/JPY daily chart The pair is testing waters last seen back in July last year. The dip below 140.00 today is threatening to firmly take out the low from December last year on the daily chart. And from a psychological perspective, a firm break below 140.00 itself will keep sellers very much in control to
Gold October futures contracts at MCX opened on Monday at Rs 73,645 per 10 gram, which is up by 0.18% or Rs 130 while silver December futures contracts were trading nearly 1% highest at Rs 90,008/kg, up Rs 828. In the last one week, the prices of gold have gained Rs 2,200/10 gm while silver
Market activity in Asia has been unusually subdued today, with trading volumes even quieter than expected for the first session of the week. The holiday closures in Japan and China are partly responsible for the reduced momentum, but a larger factor looms over the markets: the upcoming FOMC meeting, which is one of the most
FX option expiries for September 16 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1000 1.2b 1.1005 450m 1.1025 1.0b 1.1035 756m 1.1050 518m 1.1080 536m 1.1100 440m 1.1115 674m 1.1125 835m 1.1145 2.4b 1.1150 1.3b 1.1175 546m USD/JPY: USD amounts 140.00 442m 141.50 569m GBP/USD: GBP amounts 1.3000 1.6b 1.3145 828m 1.3175 454m 1.3200 1.5b 1.3300 974m USD/CAD:
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
UPCOMING EVENTS: Monday: New Zealand Services PMI. Tuesday: Eurozone ZEW, Canada CPI, US Retail Sales, US Industrial Production and Capacity Utilization, US NAHB Housing Market Index. Wednesday: UK CPI, US Housing Starts and Building Permits, BoC Summary of Deliberations, FOMC Policy Decision. Thursday: New Zealand Q2 GDP, Australia Labour Market report, BoE Policy Decision, US
Gold October futures contracts at MCX opened higher today at Rs 72,230 per 10 gram, which is up by 0.56% or Rs 406 while silver December futures contracts were trading at Rs 87,727/kg, down by 0.73% or Rs 632. In the last 2 days, the prices of gold have gained Rs 1,300/10 gm while silver
The Dow Jones is grinding its way back into record bids on Friday. US markets are leaning firmly into bets of a 50 bps cut from the Fed. Mixed US sentiment figures keep investor sentiment on the high side. The Dow Jones Industrial Average rallied for a third straight day on Friday, climbing around 350
The AUDUSD is higher for the week after dipping lower earlier in the week where the 200 day moving average stalled the fall. The subsequent move to the upside was able to extend above resistance rotated back down toward support and extend above resistance and and step pattern defined by technical levels. Today the run
The major US stock indices closed the day with gains. The NASDAQ and the S&P had a perfect week with five straight winning days. The NASDAQ index erased it -5.77% decline from last week with a gain of 5.95%. A snapshot of the closing levels today shows: Dow industrial average rose 297.01 points or 0.72%
Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of super-sized reduction in U.S. interest rates next week, while palladium has gained over 15% so far this week. Spot gold was up hitting a record 0.3% at $2,567.23 per ounce by 0703 GMT, after high of $2,570.21 earlier in
EUR/USD may have reached too far, too fast in midweek recovery. ECB rate cut bump proved fleeting as markets pivot to focus on Fed. Investors are jostling for position as rate market weigh odds of a 50 bps Fed cut. EUR/USD kicked back into the 1.1100 handle on Friday, before market forces weighed on the
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