Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and PCE inflation will come into spotlight today. But overall directions in the currency markets will
Month: October 2021
In September the frenzy that propelled the nonfungible token (NFT) sector quieted down but a burst of fresh energy emerged as the layer-two sector heated after the successful launch of Ethereum (ETH) scaling solutions like Arbitrum and Optimism. Another project that has benefited from the sector’s transition to layer-1 and layer-2 alternatives is OMG Network
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Dow up over 700 points at the session highs The major US indices close sharply higher on the first day of the new trading month/new trading quarter with the NASDAQ index snapping a five day losing streak. Shares of Merck surged 8.6% on the back of a Covid drug that cuts hospitalizations by 50%. Transportation stocks
Forex news for North American trading on October 1, 2021 The US core PCE data for the month of August remain steady at 3.6%. That was the expected rate as well. Although inflation remains well above the 2% level, the expectations are that some of the gains are transitory and will come down over time.
New Delhi: Gold in the national capital on Friday rallied Rs 555 to Rs 45,472 per 10 gram amid rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 44,917 per 10 grams. Silver also jumped Rs 975 to Rs 58,400 per kilogram from Rs 57,425 per kilogram
EUR/USD runs out of steam just past 1.1600. EMU flash September CPI came at 3.4%, Core CPI at 1.9%. US ISM Manufacturing improves to 61.1 in September. The single currency gives away some gains and motivates EUR/USD to return to the sub-1.1600 area at the end of the week. EUR/USD recedes from tops on upbeat ISM
Dollar continues to pare gains in early US session as the week is coming to a close. PCE inflation data is largely ignored by the markets, while Euro also shrugs CPI. Canadian Dollar also ignores smaller than expected GDP contraction. Sterling is leading the way in the rebound, followed by Aussie. As for the week,
AUD/USD down 0.4% to just under 0.7200 to start the session Invest in yourself. See our forex education hub. Even though the aussie was a solid performer in trading yesterday, the technicals reflected the lack of change in sentiment as gains against the dollar were capped by the key hourly moving averages – seen at
Dollar trades back to little changed for the most part The greenback held a slight advance against commodity currencies earlier but has seen that pared with the aussie and kiwi notably erasing their earlier drop against the dollar to turn flat in European morning trade now. AUD/USD fell to a low of 0.7193 earlier but
NEW DELHI: Gold prices were trading with a marginal decline on Friday after a decent rebound in the previous session. Firm US dollar made the yellow metal expensive for holders of other currencies. The dollar recouped most of those losses on Friday and began the final quarter of 2021 at close to its highest level
AUD/USD bulls are moving in on the counter-trendline. Bears are looking for a downside extension. AUD/USD is in consolidation following a strong correction into the daily counter-trendline. This is an area of confluence which could act as an area of strong resistance, leading to a downside extension in the days ahead. AUD/USD prior analysis ”The price
The RBNZ is almost certain to raise the OCR by +25 bps to 0.5% next week. The Funding-For-Lending program (FLP) will stay unchanged at NZ$28B. This should not be affected by the slowdown in economic activities in the third quarter. While cautioning about the uncertainty of the pandemic and economic damage brought about by the