LONDON: Copper prices on Friday were on course for their first weekly decline since the start of April as rising inflation fears and a dip in demand from China dragged prices down. Benchmark copper on the London Metal Exchange (LME) was 0.9% lower at $10,245.50 a tonne at 1624 GMT, having scaled a record high
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Market debates heated up last week with the influx of some US economic data. On the other hand, the concerns on overheating inflation was legitimate given the much stronger than expected headline and core CPI reading from the US. On the other hand, poor retail sales, and prior week’s non-farm payroll data, gave a nod
Wall Street pioneer Thomas Peterffy told CNBC on Wednesday he was concerned about the prospect of damaging inflation in the U.S., leaning on his personal experiences as a youth in Hungary after World War II. The billionaire Interactive Brokers founder and chairman made his comments on “Squawk Box” shortly after April’s hotter-than-expected Consumer Price Index
In this article BTC.BS=-USS BTC.CB= The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Coinbase shares were down about 4% in after-hours trading on Thursday, despite revenue and net income
Bitcoin (BTC) continues to look for direction but as this occurred, Ether and altcoins bounced higher from the May 13 sell-off. Dogecoin shocked investors with its 47% rally that kicked off after Coinbase announced that it would list (DOGE) in the coming months. Doge price also rallied after Elon Musk tweeted that he was “Working
Stocks close near session highs The major US stock indices are close higher for the second consecutive day. Some other highlights for the day/week Week ends with 2 strong days higher after three down days to start the week S&P has best day since late March 26th All 11 sectors of the S&P close higher Dow S&P NASDAQ
Forex news for North American trading on May 14, 2021 The week is ending with the USD as the weakest of the major currencies today. The NZD was the strongest. The fall in the USD was helped by a disappointing retail sales number for April. The expectations were for a rise of 1.0% for the headline
(This story originally appeared in on May 15, 2021) Chennai: Gold buying on Akshaya Tritiya did not halt completely but took on the digital form as jewellers across major markets were shut due to Covid-induced lockdowns. Considered an auspicious occasion to buy gold, this year too, like 2020, Akshaya Tritiya was celebrated under the shadow
Year-to-date, Canadian dollar is the best performing currency against US dollar. Indeed, most of the gains has been accumulated after the April BOC meeting, at which policymakers announced QE tapering and hinted about rate hike in as soon as next year. Despite recent disappointment in macroeconomic data, we expect yield differential and crude oil price
A woman wears a face mask while shopping for a baby shower gift during the Covid-19 pandemic, at Madison’s Niche boutique in Huntington, New York on April 21, 2021. Alejandra Villa Loarca | Newsday | Getty Images There is probably less than meets the eye from the startling inflation pop in April, as goods impacted
In this article DASH Sign reading We Deliver With Doordash, referencing the Doordash food delivery service, San Ramon, California, September 12, 2020. Smith Collection/Gado | Archive Photos | Getty Images DoorDash on Thursday reported a wider-than-expected quarterly loss, blaming a short-term shortage of delivery drivers as consumer demand outstripped its forecast. But the company raised
GBP/USD Forecast: Virus variant concerns and the American shopper may push cable below 1.40 GBP/USD has been attempting recovery as markets swing back to positive ground. The danger from variants to Britain’s reopening and US consumption data could push the pair lower. Friday’s four-hour chart is showing that 1.40 is a critical separator of ranges.
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Bounce off the swing low target The USDCAD moved below the 100 hour MA at 1.21167 after the US retail sales and the better than expected wholesale sales from Canada. The next downside target at the time was at 1.20781. That was home to swing lows from May 10, May 11 and May 12 before
White House economic advisor Rouse speaking. Meanwhile White House economic advisor Rouse is also speaking and says: At moment, people view current spike in inflation as a transitory phenomenon Inflation expectations are the purview of the Federal Reserve We’ve a long way to go on economic recovery. Trade team is looking at tariffs as factor in inflation deficit finance expenditures
A tax authority in Argentina is reportedly looking to scrutinize operations involving cryptocurrencies like Bitcoin (BTC). Argentina’s Federal Administration of Public Income, or AFIP, has ordered domestic crypto exchanges and payment firms to provide monthly reports of all kinds of operations by users on their platforms, local news agency Buenos Aires Económico reports Tuesday. In