A look at FX monthly performance and the chart The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar. A big move in GBP/JPY came yesterday
Forex news for North American trade on May 28, 2021: Markets: Gold up $8 to $1904 WTI crude oil down 21-cents to $66.64 US 10-year yields down 1.1 bps to 1.59% S&P 500 up 0.1% USD leads, NZD lags Month end took the FX market for a bit of a ride again. There was heavy
Gold reversed course and turned positive on Friday, briefly popping above the key $1,900 level, after data showed US consumer prices surged in April and boosted bullion‘s appeal as an inflation hedge. Spot gold rose 0.1% to $1,896.96 per ounce by 12:10 p.m. EDT (1610 GMT), having earlier dipped as much as 0.8%. It is
Correlation between US stocks and bonds has turned positive and continued to rise. The phenomenon, not seen since September 2020, probably reveals increasing risk aversion, driven by rising inflation expectations. The correlation could return to negative, thus facilitating asset diversification, if inflation proves transitory and central banks could maintain its expansionary monetary policies. Otherwise, sustainably
Dallas Federal Reserve President Robert Kaplan cited potential excesses in the housing market and other inflation signs as an indication that the central bank should start slowly pulling back on its asset purchase program. With the Fed still buying at least $120 billion in bonds each month, a total that includes $40 billion in mortgage-backed
In this article GPS A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Gap said Thursday its fiscal first-quarter sales surpassed pre-pandemic levels, as shoppers turned to Old Navy and Athleta to refresh their wardrobes for summer. The retailer raised its sales outlook for the full year as Gap’s namesake banner
GBP/USD trims losses as the US dollar pulls back, remains in the range The GBP/USD bottomed before the release of US data at 1.4135 amid a rally of the US dollar across the board. Afterward, the greenback lost strength favoring a rebound in cable back above 1.4150. The intraday bias still points to the downside
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Cracks below the swing area and 50% midpoint of the move up from May 13 swing low The EURUSD is making new lows for the week and in the process as cracked below the Monday low (reached in the first hour of trading) at 1.21718, a swing low area around 1.2158 which is also near the 50% of
Highlights from the PCE report for April 2021: Prior was +1.8% PCE core MoM +0.7% vs +0.6% expected Prior MoM +0.4% Deflator YoY +3.6% vs +3.5% expected Prior deflator YoY +2.4% Deflator MoM +0.6% vs +0.6% expected Prior MoM deflator +0.5% (revised to +0.6%) This is all a touch on the strong side but I
Haruhiko Kuroda, governor of the Bank of Japan has joined the roll call of central bankers taking aim at Bitcoin (BTC) amid the current volatility. According to a report by Bloomberg on Friday, Kuroda argued against the value proposition of the largest crypto by market capitalization, stating: “Most of the trading is speculative and volatility
NEW DELHI: Copper futures on Friday slipped 1.17 per cent to Rs 760.95 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for the June delivery eased by Rs 9, or 1.17 per cent, to Rs 760.95 per kg in a business turnover
Dollar surges in early US session as boosted by stronger than expected inflation readings. Indeed, the core PCE inflation hit the highest level since 1991. With the current buying momentum, the greenback is likely to end the week on a high note, with prospect of closing as the strongest. On the other hand, commodity currencies
A key inflation indicator rose 3.1% in April, faster than expected, as price pressures built in the rapidly expanding U.S. economy, the Commerce Department reported Friday. The core personal consumption expenditures index was forecast to increase 2.9%. Federal Reserve officials consider the measure to be the best gauge for inflation, though they watch a number
In this article CRM Marc Benioff, CEO of Salesforce. Adam Jeffery | CNBC Salesforce shares rose 2% in extended trading on Thursday after the cloud software maker reported fiscal first-quarter earnings that surpassed analysts’ expectations. Here’s how the company did: Earnings: $1.21 per share, adjusted, vs. 88 cents per share as expected by analysts, according
Here is what you need to know on Friday, May 28: It was AMC day on US stock markets on Thursday as the cinema operator totally took control of the volume profile, outdoing every mega-cap and growth stock in the process. AMC rose over 35% as retail and perhaps some other operators stoked the fizzle