What’s coming up today There’s a bit of back-and-fill today as markets settle in ahead of Friday’s Jackson Hole speech from Jerome Powell. The dramatic moves for the past few days have stalled and retraced somewhat but keep an eye on oil as it extends to new session highs. Economic data isn’t likely to be
Month: August 2021
NEW DELHI: Following global trends, gold prices moved lower on Wednesday as the US dollar ticked up and investors awaited for possible guidance on tapering of the pandemic-era stimulus. Gold futures on MCX were down 0.56 per cent, or Rs 265, at Rs 47,347 per 10 gram. Silver futures declined 0.65 per cent, or Rs
A Dick’s Sporting Goods store Craig Warga | Bloomberg | Getty Images Dick’s Sporting Goods shares rose on Wednesday after the retailer reported sales growth of 21% in the fiscal second quarter and raised its outlook for the year. Shares were up about 11% in premarket trading. The big-box retailer’s sales have soared during the
In opinion of FX Strategists at UOB Group, Cable could now trade within the 1.3640-1.3850 range in the next weeks. Key Quotes 24-hour view: “Our expectations for GBP to ‘test 1.3765 first before easing off’ did not materialize as it traded in a relatively quiet manner between 1.3694 and 1.3748 before closing unchanged at 1.3729.
Commodity currencies suffered last week but Canadian dollar was the worst performer. Loonie declined -2.93% in the past week, making it the weakest amongst major currency pairs. Other than the broad-based strength in US dollar amidst speculations of early taper by the Fed, the sharp selloff in crude oil price was the ultimate reason driving
The controversial $1 trillion infrastructure bill will see a vote in the U.S. House of Representatives without any amendments to the crypto tax provisions by Sept. 27. The vote was agreed to after the House narrowly approved the Democrats’ $3.5 trillion budget blueprint in a vote of 220 to 212. Despite some initial pushback from
Head and shoulders patterns don’t always work out Beware of textbook chart patterns. Charts that are nearly ‘perfect’ have a habit of not working out. Last week I highlighted a potential head and shoudlers top in CAD/JPY, which had been one of the best trades in FX this year. I even warned in the post
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Capacity utilisation at domestic refineries rose to 91% in July compared to 83% a year earlier as fuel demand returned after lockdown restrictions were eased. The average utilisation at , the nation’s largest refiner, increased to 96% from 91% in July last year, as per the official data. , the owner of the world’s largest
In this article JWN A shopper leaves a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images Nordstrom shares fell Tuesday after the department store chain reported fiscal second-quarter sales remained below pre-pandemic levels. Compared with a year earlier, sales more than doubled, as shoppers used Nordstrom’s anniversary sale as
Discover how to trade NFP like a pro without killed by the markets. Here’s the thing: Many traders are lured into trading the news because you can make profits, fast. In a matter of minutes, you can make a few hundred (or even thousands) of dollars. But what you don’t realize is the market is
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USD/CAD fell to a fresh weekly low below 1.2600 on Tuesday. Oil rally continues to help CAD gather strength. US Dollar Index stays quiet around 93.00 in the American session. The USD/CAD pair extended its slide during the American trading hours on Tuesday and touched its lowest level since August 17 at 1.2576. As of
New Zealand Dollar rises broadly today after a top RBNZ official indicated that the decision to refrain from rate hike was mainly due to communication difficulty. Instead, the central bank is actively considering a 50bps hike. Strong rebound in Asian stocks also supported other commodity currencies, but positive sentiment is not much carried through to
100 day moving average at 109.67 The USDJPY is moving to a new session low in early North American trading. Helping the move to the downside has been a move back below its 100 day moving average at 109.627. Yesterday and earlier today, traders leaned against that moving average level. The break led to buyers giving up and sellers taking
Philadelphia-area service sector data Prior was 53.8 Firm-level activity 37.2 vs 44.8 prior New orders 27.4 vs 31.8 prior Wage and benefit cost index 43.0 vs 50.2 prior Full time employment index 8.2 vs 24.8 prior This is a low-tier indicator. Here was the special question, which relates back to inflation expectations — something the
New Delhi: Gold in the national capital on Tuesday jumped Rs 170 to Rs 46,544 per 10 grams despite rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,374 per 10 grams. Silver also gained Rs 172 to Rs 61,584 per kg, from Rs 61,412 per kg
An employee brings a television to a customer’s car at a Best Buy store in Orlando, Florida. Paul Hennessy | SOPA Images | LightRocket | Getty Images Best Buy said Tuesday fiscal second-quarter sales rose nearly 20% as consumers upgraded devices and equipment and permanently embraced habits formed over the past year — from hybrid work to
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