The real gross domestic product (GDP) in the United States is expected to grow by 3.6% in the third quarter of 2021, down from 3.7% on September 10, the Federal Reserve Bank of Atlanta’s latest GDPNow report showed on Thursday. “After this week’s releases from the US Bureau of Labor Statistics, the US Department of the Treasury’s
Month: September 2021
A topside swing area between 151.44-151.59. Lower swing area between 150.813-150.865. The GBPJPY fell to the lowest level since August 27 during yesterday’s trade. That move bottomed at 150.813 which was within a swing area between that level and 150.865. The price moved back higher and stalled near another swing area which includes the 38.2% retracement at 151.440 and swing
A look at the market moves The S&P 500 has pared some of today’s decline, rising to 4456 from 4443 at the lows. That improvement is spilling over to FX as well as the ‘risk off’ trade fades. This is increasingly looking like an ‘inside day’ where US equities and other assets trade inside of
New Delhi: Gold in the national capital on Thursday plunged Rs 491 to Rs 45,735 per 10 gram amid a decline in international precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,226 per 10 grams. Silver also tumbled Rs 724 to Rs
Yen is trading generally firm today as risk sentiment in Asia is decoupling from that of the US. Nikkei is so far rather resiliently holding above 30k handle, despite slight retreat. But Hong Kong HSI is having another day of heavy selling, breaking to a new low for the year. The fact that Swiss Franc
USD/CHF seesaws around intraday top after snapping two-day downtrend. Market sentiment dwindles amid mixed catalysts, pre-Fed anxiety. US consumer-centric data and risk catalysts to direct traders ahead of next week’s FOMC, tapering is the key. USD/CHF eases from intraday high to 0.9200 but stays positive for the first time in three days as European traders
Major indices all higher The US stocks are closing near their highs for the day. The Russell 2000 index of small-cap stocks was the biggest gain or with a 1.1% rise. Dow and S&P up to the last three trading days NASDAQ snapped a five day losing streak The major indices closed near their highs
Reasons for lingering weakness The AUD was gaining strongly due to it’s pro-cyclical bias. Vaccine fuelled optimism helped push AUD higher as did higher Iron ore prices alongside signs of China’s economy rebounding. However, recently that bullish bias has moved to a far more neutral footing.A combination of the delta variant locking down large areas
SINGAPORE: Oil prices slipped on Thursday, but kept most of the previous day’s gains after a larger-than-expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer. Brent crude oil fell 13 cents, or 0.2%, to $75.33 a barrel by 0128 GMT, after settling up 2.5% the previous day. US West
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 10. Crude oil inventory sank -6.42 mmb (consensus: -3.54 mmb) to 417.45 mmb. Stockpile fell in 4 out of 5 PADDs. PADD 3 (Gulf
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The value of MicroStrategy’s massive Bitcoin (BTC) holdings has surpassed what most S&P 500 companies hold in their cash treasuries. The Nasdaq-listed enterprise software firm purchased an additional 5,050 Bitcoin for about $242.9 million, raising the value of its 114,042 BTC holdings to nearly $5.3 billion. That comes out to be higher than what 80% of non-financial
USD/JPY remains on track to post losses for second straight day. Recovering US Treasury bond yields helped USD/JPY erase part of its daily losses. Wall Street’s main indexes trade in the positive territory. Following Tuesday’s decline, the USD/JPY pair stayed under bearish pressure in the first half of the day on Wednesday and dropped to
Moving averages stalls the ups and downs today The NZDUSD down to test its 100 day moving average in the Asian session at the 0.70729 level. The low price for the day reached 0.72726.going back to September 8 and September 9, the price declines had found support against that daily moving aveerage level. The
Power and natural gas prices are skyrocketing I’ve been warning about this for awhile. Things have gotten out of hand quickly in Europe and this is going to be a political crisis in short order as people and companies get slammed with heating and energy bills that they can’t afford to pay — at least
Metals are a key barometer of any country’s economic growth and countries have taken many measures to facilitate the growth and efficiency of metal markets. While trading volume of commodity derivatives has grown at a rapid pace in India, liquidity has remained largely limited to the near-month contracts. The low volume of the long-term contracts
The latest set of economic data reveals that China’s slowdown worsened. The most disappointing reading comes from retail sales growth which moderated to +2.5% y/y in August, compared with consensus of +7.1% and July’s +8.5%. The slowest growth in 12 months can be attributed to delta variant outbreak and the aftermath of July’s huge flood.
All 11 sectors of the S&P are lower. The majors stock indices are all closing lower with the Dow industrial average the worst performer. The S&P and Dow have been down for five the last six trading days The NASDAQ index has fallen five straight days All 11 sectors of the S&P index are lower
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