Markets turned mixed as traders await FOMC minutes. The much stronger than expected US private job data provides little inspiration to the markets. Dollar pares back some gains but remain the second strongest for the week next to Sterling. Yen is also recovering but remains the worst performing, followed by Canadian. Euro is mixed together
Month: January 2022
Bitcoin (BTC) failed to close 2021 above the long-expected $100,000 level, but experts believe the psychological horizon is still achievable by taking gold’s market share, albeit over a more extended period. In a note released to investors on Tuesday, Goldman Sachs co-head of global FX and EM strategy Zach Pandl hypothesized that if the largest
The US major stock indices are closing mixed: The Dow industrial average is closing up 214.57 points or 0.59% at 36799.64. That is a new record close. Intraday, the price it reached a new all-time record high 36934.84. The index has 2 record closes in 2022. The S&P index closed down -3.04 points or -0.06%
Prior 59.8 Composite PMI 55.4 Prior 58.3 Omicron worries are to blame as activity and new business expanded at lower rates. Meanwhile, business confidence slumped to an 11-month low while price pressures continued to persist. Put together, that is a noticeable hit on sentiment and the services sector last month. Markit notes that: “The Spanish
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Gold was flat in early Asian trade on Wednesday, as traders weighed prospects of early interest rate increases by the U.S. Federal Reserve against surging COVID-19 infections globally. FUNDAMENTALS * Spot gold was little changed at $1,813.91 per ounce by 0133 GMT. U.S. gold futures were flat at $1,813.80. * Benchmark 10-year Treasury yields rose
Ahead of Wednesday’s December Federal Reserve (Fed) meeting’s minutes, Lisa Shalett, Chief Investment Officer at Morgan Stanley Wealth Management, offered her take on the impact of rising interest rates on markets and the economy as a whole. The Fed, in a little over two months, is set to enact its first rate increase in three
Yen selloff is the main theme in the Asian markets today, in particular as USD/JPY breaks out on the upside with acceleration. The move was fueled by strong rally in US treasury yields overnight, as well as rally in Nikkei and benchmark JGB yield. Dollar is currently the strongest one for the, reversing much of
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GBPUSD coils near the highs The GBPUSD extended above the swing area between 1.3521 and 1.3528 today. On the break above, the high from last week at 1.35491, followed closely by the 100 day moving average at 1.3556 were the targets. The first target was broken at 1.35491. The 2nd one was tested but found
The late rally in the Canadian dollar vaulted it just ahead of the US dollar as the top performing G10 currency last year. The yen was at the bottom of the pack. The main thrust of the rally in the pair was the recovery from covid and the associated rally in commodities, along with the
LONDON: Oil prices rose 2 per cent on Tuesday as OPEC+ producers agreed to stick with their planned increase for February based on indications that Omicron would have only a mild impact on demand. Brent crude was up $1.50, or almost 2 per cent, at $80.48 a barrel by 1450 GMT and U.S. West Texas
Commuters arrive from Metro North Railroad trains in Grand Central Station in New York. Timothy A. Clary | AFP | Getty Images Workers quit their jobs in record numbers in November while the total employment openings pulled back a bit, the Labor Department reported Tuesday. The so-called quits level surged to 4.53 million for the
Gold rises on Tuesday despite higher US yields. XAU/USD manages to hold above 1800$, more gains could lead to a test of 1830$. Gold prices are rising on Tuesday after strengthening during the American session even as US yields remain high. XAU/USD held above 1800$ and recently climbed to 1814$, reaching a fresh daily high.
Global financial markets are in full risk-on mode today. Major European indexes are trading higher while US futures indicates that record run is continuing. In the currency markets, Yen’s steep selloff continues and looks unstoppable. Dollar is performing well as supported by rally in treasury yields. Euro, on the other hand, is rather weak, in
As China’s central bank steps up its effort to create a digital currency, the country has released a pilot edition of its digital yuan wallet application on mobile phone app stores. The People’s Bank of China (PBOC) digital currency research institute developed the “e-CNY (Pilot Version)” app, which was available for download on Chinese Android
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Amid thinner market conditions last week, the pair managed to hold a weekly close above 115.00 and is running with that so far to start the new year. The latest jump is largely helped by the surge higher in Treasury yields yesterday, which saw 10-year yields climbing by over 10 bps to 1.63%. A stronger