GBP/USD trades up to 1.3774, its highest since 17 September The pair is largely capitalising on the dollar’s recent weakness as it extends gains after a bit of a breather yesterday. The push higher today has already erased the declines to start the week as price climbs to its highest in over four weeks now.
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Another quiet one on the data docket in Europe today [embedded content] The dollar is down across the board with the antipodeans leading the charge, as we also see USD/CNY fall to its lowest since 17 June, briefly clipping below 6.41. The retreat in Treasury yields overnight still leaves a lot to be desired as
TOKYO: prices fell on Tuesday, with Brent down a second straight day, after Chinese data showed slowing economic growth and U.S. factory output dropped in September, raising fresh concerns about demand amid patchy recovery from the coronavirus pandemic. Brent crude was down by 43 cents, or 0.5%, at $83.90 a barrel by 0132 GMT after
A worker carries lumber as he builds a new home in Petaluma, California. Getty Images Rising interest rates will result in a sharp drop in refinance demand in 2022, meaning a lot less business for mortgage bankers, according to the Mortgage Bankers Association’s just-released annual forecast. It predicts total origination volume will drop 33% to
Gold gained some positive traction on Tuesday and snapped two days of the losing streak. Retreating US bone yields undermined the USD and extended some support to the metal. Hawkish Fed/BoE might cap gains and warrants some caution for aggressive bullish traders. Update: Gold prices lock in some fresh gains above $1,770 amid a recent pullback
Brokerage firm Interactive Brokers Group is allowing investment advisers registered with the company to trade four cryptocurrencies. In an Oct. 18 announcement, Interactive Brokers said its Registered Investment Advisers would be able to trade and custody Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) for clients using Paxos Trust Company. The firm reported
The forex markets are generally staying in consolidative mode today, with Euro and Swiss Franc trading mildly higher. Meanwhile, Aussie is leading other commodity currencies for retreats. Dollar is also trying to firm up with 10-year yield breaking above 1.62 handle. Yen, is also mildly higher with help from some pull back in stocks. Overall,
High price from last week at 1.16238 eyed by traders The EURUSD is traded to a new session high at 1.16213. That has the price just below the high price from last week at 1.16238. As a review (see earlier post), the price declined in the Asian session but found key support against the 200 hour
..But does not know when The “legendary investor” Carl Icahn is on CNBC. He is a bit cautious about the market but also says he does not know when the market will turn over. At some point the market will hit a wall there will be a crisis the way we are going; the way we are
New Delhi: Gold in the national capital on Monday gained marginally by Rs 37 to Rs 46,306 per 10 grams, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,269 per 10 grams. Silver jumped Rs 323 to Rs 62,328 per kilogram from Rs 62,005 per kilogram in the
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, June 3, 2021. Mike Blake | Reuters The nation’s homebuilders aren’t seeing any relief from supply chain issues that have slowed construction recently, but high buyer demand appears to be making up for it. Builder confidence
The euro remains capped below 1.1600, close to long-term lows at 1.1525. A sour market sentiment has weighed on the euro’s recovery attempt. EUR/USD seen extending decline to 1.1400 – Scotiabank. The common currency has attempted to pick up from the 1.1575 low hit earlier on Monday, before failing at 1.1610 and returning to levels below 1.1600.
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The markets are trading in consolidative mode in Asia today. Dollar attempted to resume near term rally against Euro overnight, but quickly lost momentum. While Yen remains generally weak, selloff slowed, along with slight retreat in US 10-year yield, and retreat in stocks. Traders will turn their focuses firstly to UK GDP in European session,
Swing area between 0.7072 and 0.7077 The NZDUSD has continued its run to the upside which started on Wednesday near the 0.6908 floor from October 7, October 8 and October 11. The low price on Wednesday reached 0.69106, and bounced higher. Yesterday’s trading action saw the pair move above its 100 day moving average (currently at 0.70199 – see
Forex news for Asia trading on Monday 18 October 2021 The early focus of the session was New Zealand inflation data. Official NZ CPI data comes out once a quarter and that for Q3 today was well above expectations, cementing another brick in the wall for further Reserve Bank of New Zealand rate hikes ahead.