AUD/USD attracted some buying on Monday and stalled its recent slide from the 0.7815-20 area. Dovish Fed expectations, the risk-on mood undermined the USD and extended some support. Investors now eye US ISM PMI, Powell’s speech for some impetus ahead of the RBA on Tuesday. The AUD/USD pair held on to its modest gains through
Month: May 2021
Narrowest trading range since April 2019 The GBPUSD has reversed lower today after the run to the upside started on Wednesday fizzled out after breaking back below the Monday to Wednesday swing area between 1.3934 to 1.39386. The break higher above the higher swing area failed, and the subsequent run away from the 100/200 hour
A research note from JP Morgan shows the level of comfort in US stocks: Individual investors are holding more stocks than ever before Stockholdings among U.S. households increased to 41% of their total financial assets in April (highest level on record, from data going back to 1952) WSJ goes on: The enthusiasm for stocks comes
One crypto user is seemingly taking exception to current monetary policy from the Bank of England, or BoE, and expressing their frustration with a laser projector. Reported by Twitter user Dominic Frisby, an unknown person projected “Bitcoin fixes this” and other messages on the exterior walls of both the BoE and the Parliament of the
NEW DELHI: Copper futures on Friday slipped 0.28 per cent to Rs 754.80 per kg as participants cut their positions amid muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for May delivery eased by Rs 2.15, or 0.28 per cent, to Rs 754.80 per kg in a business turnover of
Employees during a press visit to the first shale gas exploring site started by Chevron in Pungesti, Romania, April 2014. Mircea Restea | AFP | Getty Images After a brutal year for the energy sector, Chevron reported a profit for the first quarter of 2021 as a recovery in oil prices boosted operations. The company’s
What you need to know on Monday, May 3: The American dollar soared on Friday as risk-aversion fueled demand for the greenback alongside month-end flows. The EUR/USD pair settled at 1.2020 while GBP/USD finished the week around 1.3830. The Australian dollar also fell, but held above the 0.7700 threshold, while the USD/CAD settled near weekly
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NASDAQ index is leading the way lower The use major indices are opening lower on the last day of the trading month. The NASDAQ index is leading the way to the downside. A snapshot of the market six minutes into the open is currently showing: S&P index -20.84 points or -0.49% at 4190.63 NASDAQ index -77.87 points
New Zealand dollar and euro trade ideas from Bank of America Bank of America Global Research expects a USD rally in the coming month and expresses this view via going short NZD/USD in spot and short EUR/USD via options. “Taking the dovish Fed as a given for now, we may still see some USD strength
Bank of England, Governor Andrew Bailey, 0.10%, Meets May 06 Prior to the latest BoE meeting on March 18 there was a tail risk of a rate hike coming into the markets. The GBP has been strongly supported over the last few weeks and the last meeting continues to provide reason for optimism regarding GBP
NEW YORK: Oil prices fell from six-week highs on Friday as investors unloaded positions after weak Japanese crude import data and on worries about fuel demand in India, where COVID-19 infections have soared. US crude and global benchmark Brent logged their biggest daily drops in more than three weeks, but saw monthly gains of near
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -1.63 mmb to 1285.52 mmb in the week ended April 23. Crude oil inventory climbed higher, by +0.09 mmb (consensus: +0.66 mmb) to 493.11 mmb. Stockpile increased in 4 out of 5 PADDs, but
Federal Reserve Chairman Jerome Powell said Wednesday that he has in the past met with homeless Americans and that doing so reminds him of those he works for as a government official. Powell said he has not yet met with members of the homeless encampment near the Fed’s building in Washington. He added that he
In this article XOM .CRBQX A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters Exxon Mobil returned to profitability during the first quarter, beating top- and bottom-line estimates for the period, as the company recovers from the havoc wreaked on the energy sector by the coronavirus pandemic. The oil giant
Rebounds higher The USDCHF – for the first time since March 1 - traded below its 200 day moving average yesterday at 0.9086 but could only get to 0.90813 (a later session low reached 0.90796). The pair traded below its 200 day moving average on a number of different occasions since the first run lower including a number of times