Next week, the Bank of Canada will have its monetary policy meeting. Market consensus is for an increase in the key rate to 3.25%. Analysts at TD Securities look for the BoC to deliver a 75 basis point hike, bringing rates into restrictive territory. They see little incentive for smaller hikes CPI running well above
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Dollar is extending recent up trend against Yen after non-farm payroll report, but struggles to gain against others so far. Instead, Euro shines again on news that Russia looks set to resume gas supplies to Europe through Nord Stream 1. The common currency is retaining its number one place for the week so far, followed
As the crypto winter shows signs of slowing, companies are rushing to become compliant after a string of bankruptcies within the space. Regulatory compliance is critical to improving crypto’s reputation among investors. It is also essential for mitigating liquidity risks, an issue that caused crypto giants Voyager Digital and Celsius to file for bankruptcy. Last
AUDUSD got within 14 pips of the 50% midpoint The AUDUSD moved to the lowest level since July 15 yesterday, and in the process got close to the 50% midpoint of the move up from the March 2020 low. That level comes in at 0.6756. The low price yesterday reached 0.67706 (got within 14 pips).
The major US stock indices are opening higher. The Dow and S&P are working on their 2nd day in a row to the upside. The NASDAQ index is looking to snapped a 5 day losing streak. A snapshot of the market currently shows: Dow industrial average +125 points or 0.4% 31782.50 S&P index up 22.69
In this article LULU Pedestrians pass by a Lululemon store. Scott Mlyn | CNBC Lululemon Athletica Inc. on Thursday reported quarterly earnings and revenue that beat analysts’ expectations, as shoppers stocked up on workout gear even as surging prices have hurt other retailers’ apparel sales. The company also raised its outlook for the year. Shares
Gold in the national capital rose by Rs 47 to Rs 50,729 per 10 grams on Friday amid a rise in international precious metal prices along with depreciation in rupee, according to HDFC Securities. The yellow metal had closed at Rs 50,682 per 10 grams in the previous trade. Silver also jumped by Rs 496
Initial filings for unemployment insurance fell to their lowest level since late June last week, a sign that the labor market is resilient amid a slowing economy. Claims totaled a seasonally adjusted 232,000 for the week ended Aug. 27, a decline of 5,000 from the previous period and the lowest since June 25, the Labor
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NZD/USD struggles to extend corrective pullback from 1.5-month low, steadies of late. Recession woes, hawkish central bankers underpin bearish bias. Market’s consolidation amid a light calendar triggered the Kiwi pair’s corrective bounce. US CB Consumer Confidence for August, Fedspeak will be important for intraday directions. NZD/USD treads water around 0.6150, after bouncing off a 1.5-month
Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite of risk-off sentiment. The clearer trend
The creators of Three Arrows Capital are missing, according to reports, when court-appointed liquidators visited the firm’s Singapore headquarters recently, all they discovered was a locked door and a stack of outdated mail. Singapore-based 3AC is among the flagship cryptocurrency firms that have crumbled under bear pressure and faced liquidity issues driven by the market
USDCHF tests a swing area and the 100 day/100H MAs The USDCHF has seen a move higher that extended the gains from Friday. The pair moved to the highest level since July 21 and above the 0.9700 level in the process. The price has rotated back to the downside with the decline moving back to
ECBs Lane is on the wires saying: The new phase of policy will consist of meeting by meeting (MBM) approach to setting interest rates vs rate forward guidance. inflation is expected to remain high in the near term cyclical inflation forces will be subject to push – pull dynamics a steady pace in closing the
In this article GPS An employee hands a customer a shopping bag at an Old Navy store in San Francisco. David Paul Morris | Bloomberg | Getty Images Gap Inc. on Thursday withdrew its financial outlook for the year after it swung to a net loss in the fiscal second quarter and its Old Navy
Gold price in the national capital fell Rs 365 to Rs 51,385 per 10 grams on Monday reflecting a decline in international precious metal prices along with rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 51,750 per 10 grams in the previous trade. Silver also plunged by Rs 1,027 to