Solana, now the eighth largest cryptocurrency, led the gainers, adding 5 per cent. The global crypto market cap was hovering near the $2.06 trillion mark, declining less than a per cent compared to the last day. Similarly, the total crypto market volume declined more than 5 per cent to $89.59 billion. Sharan Nair, Chief Business
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The closely-awaited Jackson Hole speech by Fed chair Powell reaffirmed that QE tapering would begin later this year. While being more upbeat about the progress of employment and inflation, Powell warned of the downside risks posed by the rapid spread of the delta variant. He also attempted to de-link taper and rate hike, causing instant
One-month risk reversal on Palladium (XPD/USD), a measure of the spread between call and put prices, not only reversed the previous week’s upside momentum but also dropped the most since the week ending on July 16, according to data source Reuters. A call option gives the holder the right but not obligation to buy the underlying
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No explicit taper timeline The dollars move lower on the headlines from Fed chair Powell’s speech. No explicit taper timeline has sellers pushing the greenback lower. Yields are moving lower as well. The comments run counter to what most Fed officials have been saying which will make for an interesting September meeting. Of of course the jobs report in September will be a key talking
Ida is set to be one of the largest storms to ever hit the US Hurricane Ida is hours away from making landfall on the coast of Louisiana as a Category 4 hurricane. It has caused widespread offshore oil and (especially) natural gas operations shutdowns. It’s now set to cause major damage to the lightly-populated
The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the previously agreed increase of 400,000
Pinterest Inc.,PINS: Daily Chart, August 26 2021.We should be missing one last move down, so look closely the 23.6 and 38.2 fib level, and after that we can look for buys. UiPath Inc.,PAHT: 4H Chart, August 26 2021After a confusing start which could be labelled as complex we may have completed a leading diagonal into wave {I}
Swing area between 1.2577 and 1.2596 is the next downside target The CAD has followed the other currencies in moving higher versus a weakening dollar after Chair Powell did not satisfy the taper hawks. Looking at the hourly chart, the price has moved back below its 100 hour moving average at 1.36372. Stay below that moving average keeps the bears
Consolidation or a short pause? 10-year Treasury yields nearly touched 1.36% just before Powell’s speech but they’re down to 1.32%, highlighting that the bond market is less worried about a September taper. I think the market discussion will shift away from a Nov/Dec/Jan timing on tapering decision to more of a focus on the pace.
Whenever there’s data out on futures contracts liquidation, many novice investors and analysts instinctively conclude that it’s degenerate gamblers using high leverage or other risky instruments. There’s no doubt that some derivatives exchanges are known for incentivizing retail trading to use excessive leverage, but that does not account for the entire derivatives market. Recently, concerned
Physical gold demand in India was subdued this week as jewellers held off purchases, hoping for a dip in prices, but top consumer China saw a slight uptick in activity. Dealers in India were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75 per cent import and 3
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Commenting on the US jobs scenario in an interview with CNBC late Friday, Federal Reserve Vice Chair Richard Clarida said, “We’ve made progress on the labor market.” Additional quotes “Expect further gains in the autumn.” “I don’t think it takes 800K gains in jobs but it will take robust gains.” “Inflation is very likely to be largely
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