USDCAD below the 100 hour moving average The better-than-expected Canada GDP brings the Bank of Canada back in play after their conditional pause in rate hike’s. That has the USDCAD moving lower. Technically, the price just broke below its 100 hour moving average at 1.3612. The current price trades at 1.3608. On the downside a
The euro is at a new session low, down 83 pips to 1.0651. The pair had attempted to find support at the early-European low of 1.0660 and bounced from there but the selling resumed in the last 20 minutes. Month-end flows have been a factor this week but the economic data largely tells the story.
Gold bounced back from early losses on Tuesday, as the dollar pulled back and Treasury yields slid on wider market optimism about the U.S. debt ceiling deal. Spot gold rose 0.9% to $1,960.55 per ounce by 11:51 a.m. EDT (1551 GMT), after hitting its lowest since March 17 earlier. U.S. gold futures gained 0.8% at
Dollar appears to be taking a breather, experiencing a broad decline in month-end trading as it reverses some of its recent gains. The initial support from the debt ceiling deal seems to be waning, while market participants are adopting a cautious stance ahead of this week’s crucial non-farm payroll data. The figures are expected to
Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2023 in New York City. Michael M. Santiago | Getty Images A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth Management. U.S.
In this article GPS Follow your favorite stocksCREATE FREE ACCOUNT The Gap logo is displayed at a Gap store on April 25, 2023 in Los Angeles, California. Mario Tama | Getty Images Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress – and
Share: AUD/USD portrays a volatile reaction to Australia inflation data, China activity numbers. Australia Monthly Consumer Price Index jumps to 6.8% in April, China’s officials PMIs ease for May. Market sentiment dwindles amid mixed signals from data, risk catalysts. US House of Representatives’ voting on measures to avoid default, JOLTS Job Openings eyed for clear
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NZDUSD tumble lower this week The NZDUSD has tumbled 3.6% this week with the last 4 trading days to the downside. That is the biggest move lower since September 19, 2022. This week, the RBNZ raise rates by 25 basis points, but the hike was considered dovish as signals of a pause surprised the market.
Markets: WTI crude oil up 96-cents to $72.79 Gold up $6 to $1946 US 10-year yields flat at 3.81% S&P 500 up 1.4% GBP leads, JPY lags The odds of a June Fed hike have risen to 70% from 50% today and that tells the story in FX, with the dollar gaining, though not exactly
Blockchain startup accelerator Cronos Labs has announced the launch of its second cohort for the Cronos Accelerator Program. The program, backed by a substantial $100 million investment, aims to support early-stage crypto projects by providing mentorship and funding opportunities. According to an announcement sent to Cointelegraph, Cronos Labs handpicked eight projects to participate in their
Gold futures have given negative returns in May, dragged by strength in the Dollar Index (DXY) which is now hovering over 104 against a basket of six major currencies. Yellow metal is likely to take cues from the bullion prices in international markets, going ahead. With the US debt ceiling likely to get resolved soon
While Dollar engaged in retreat for most of the day, some buying appears to emerge again in early US session. A surprising rise in both headline and core PCE inflation is considered to be a key factor driving this resurgence. While it’s unsure whether that could result in sustainable rally, the sentiment should stabilize the
Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index, which measures a variety of goods and services and adjusts for changes in consumer behavior, rose 0.4% for the
Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty Images Klarna, the Swedish buy now, pay later fintech company, halved its net loss in the first quarter, recording a significant improvement in its bottom line after a major cost-cutting drive. The
Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite. US Dollar corrects after strong rally, giving Oil a backdraught. Oil price steadies on Friday after the previous day’s tumble, as