The dollar is sitting firmer across the board once again and we are now seeing cable extend its drop to fresh lows near 1.2300 – its lowest since June 2020. The pound didn’t get much reprieve from the BOE yesterday as the central bank painted a rather dire outlook of the UK economy and that
Month: May 2022
Just as they have every month since this past summer, officials from OPEC and its allies met via teleconference Thursday and decided to continue their program of modest additions to the market. The producers group, which has 23 members including Saudi Arabia and Russia, issued a statement saying it would add 432,000 barrels a day
Dollar is back in control as markets turned back into risk-off mode, just a day after the rallies triggered by Fed Chair Jerome Powell’s comments. Investors are apparently not too convinced by the ruling out of 75bps hike after a second thought. Focuses will turn to non-farm payroll report today, which should prompt even more
An employee works at Shopify’s headquarters in Ottawa, Ontario, Canada. Chris Wattie | Reuters Shares of Shopify plunged more about 15% Thursday after the company reported first-quarter results that missed analysts’ estimates, and said it will acquire logistics start-up Deliverr for $2.1 billion in cash and stock. Shopify posted adjusted earnings of 20 cents per
The yen now stands around 130, a 20-year low versus the US dollar. Economists at Nordea expect the USD/JPY to advance towards the 135 level by year-end. USD/JPY to move lower during the second half of 2023 “Back in 2002, USD/JPY topped at 135 and we expect USD/JPY to move towards this level by end-2022.”
I Tested A Simple 1 Minute Forex Scalping Strategy 100 TIMES – The Results SHOCKED Me 😱 In today’s video, we go over a simple 1 minute trading strategy that one of our subscribers has submitted to us, the strategy is pretty simple and involves using the exponential moving average trading strategy together with the
Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and Bitcoin (BTC) price plummeted to $35,571 on Binance. The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which
Nasdaq trades to a new 2022 low The Nasdaq index is trading to a new year low at 12194.60 . That took out the low from Monday at 12202.41. The price now trades at the lowest level since November 30, 2021. The NASDAQ closed 2021 at 12888.28. It is below that level It closed 2022
MUFG Research discusses the EUR outlook and maintains a bearish bias over the coming months. “At the start of this month market participants have become even more fearful over downside risks to growth for European economies posed by energy supply restrictions. It follows the decision by Russia to turn off gas supplies to Bulgaria and
New Delhi: Gold in the national capital on Thursday rallied by Rs 559 to Rs 51,081 per 10 grams reflecting gains in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 50,522 per 10 grams. Silver also jumped Rs 1,179 to Rs 63,427 per kg from
Sterling drops sharply today even after BoE raised interest rate as expected. The trigger was the warning that of recession as high inflation hurts real incomes of household and profits of businesses. Aussie and Kiwi are also trading lower as yesterday’s risk-on rally fades. Dollar, on the other hand, is regaining some of the post
In this article NKLA Nikola Motor Company Source: Nikola Motor Company Electric heavy-truck maker Nikola said Thursday it shipped its first semitrucks to customers in April, and that it now has purchase orders and letters of intent for over 500 of its battery-electric Tre trucks. The company is also working with clients including Anheuser-Busch Inbev
The Bank of England hiked rates to 1%, though slashed UK’s economic growth in 2023. The US and UK central bank’s expressed concerns about China’s Covid-19 crisis, which threatens to disrupt supply chains, consequently triggering high inflation. GBP/USD Price Forecast: To fall towards June 2020 swing lows around 1.2251. The British pound plummets on Thursday
NASDAQ index tests its 100 hour moving average The NASDAQ index is up 413 points or 3.27% at 12978. Looking at the hourly chart, that takes price above its 100 hour moving average at 12946 for the 1st time since April 5. Stay above that moving average is the best case scenario for the buyers.
That mostly comes as we see Treasury yields bounce back up as well. 2-year yields were dragged down from 2.80% to near 2.60% at the lows yesterday but have now recovered to 2.71%: Meanwhile, 10-year yields are still lingering just below the pivotal 3% mark at around 2.96% currently. As much as there are thoughts
NEW DELHI: Gold prices climbed over a per cent on Thursday after Federal Reserve Chair Jerome Powell turned less hawkish over rate hikes. However, silver outperformed the yellow metal with a wide margin. Pritam Patnaik, Head – Commodities, Axis Securities said that gold prices rallied after the Fed event, primarily due to the fact that
Dollar dropped notably overnight after Fed Chair Jerome Powell surprised the markets by ruling out a 75bps rate hike. The comment also boosted US stocks sharply higher. Risk-on sentiment helped commodity currencies rebound. But European majors are lagging behind. Yen is so far mixed, with slight retreat in US 10-year yield. BoE rate decision would
In this article ETSY AMZN An employee walks past a quilt displaying Etsy Inc. signage at the company’s headquarters in the Brooklyn. Victor J. Blue/Bloomberg via Getty Images Etsy and eBay reported better-than-expected first-quarter results after the bell on Wednesday, but the companies gave weak guidance for the current quarter that suggests the e-commerce sector
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