Here is what you need to know on Thursday, May 5: The dollar faced heavy selling pressure during FOMC Chairman Jerome Powell’s press conference late Wednesday and the US Dollar Index recorded its largest one-day loss since early March, falling nearly 1%. The greenback consolidates its losses early Thursday as the market focus shifts to
Month: May 2022
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Coinbase and Brazilian company 2TM, the parent company of Mercado Bitcoin, have reportedly scrapped talks around the crypto exchange purchasing the firm. According to a Tuesday Bloomberg report, 2TM and Coinbase have ended discussions around the United States-based crypto exchange buying the Brazilian company, which was valued at more than $2 billion. It’s unclear what
The strongest to weakest of the major currencies The USD dollar is marginally lower on the day with gains only vs the CHF and declines of 0.20% or more vs the EUR, CAD, AUD (down -0.73%) and NZD. The AUD is the strongest as it has follow through buying after the larger than expected increase
The USD has moved lower after Fed Powell says the Fed will look to raise by 50 bps at the next 2 meetings. The markets were pricing in up to 4X 50 bps. US stocks are higher. US stocks move higher In the forex: EURUSD has moved sharply higher and trades above its 200 hour
New Delhi: Gold prices declined by Rs 134 to Rs 50,601 per 10 grams in the national capital on Wednesday in line with global trends, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 50,735 per 10 grams. Silver also declined by Rs 169 to Rs 62,787 per kg
Major forex pairs are generally stuck inside yesterday’s range as markets await FOMC rate decision. Swiss Franc is the exception, though, as the selloff against Euro spreads to other Franc pairs. Dollar and Canadian are the next weaker ones. On the other hand, Aussie and Kiwi are the firmer one while Euro and Sterling are
In this article MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Moderna sold $5.9 billion of its Covid vaccine in the first quarter, blowing out revenue and profit expectations. The biotech company’s shares soared by more
GBP/USD rallies on the Fed with a relatively muted response in financial markets. The Fed hiked rates by 50 basis points and published plans to reduce the size of the balancesheet. At 1.2522, GBP/USD is 0.22% higher and has rallied around 42 pips in the first 15 minutes on the knee jerk after the Federal Reserve
USDCHF completed the down and up lap today The USDCHF just traded up to 0.9799. In the process, the pair completed the down and up “lap” that saw the price move from a high of 0.97936 to a low of 0.97197, and all the way back up to the 0.9799 level – above the previous
Looking at things, it’s quite a straightforward situation for USD/JPY at the moment; all things considered. The pair has been on a tear amid the surge higher in Treasury yields as well, with a broader dollar rally also exacerbating the upside push from 120.00 to 130.00 in the past two months. We’re now holding at
NEW DELHI: Gold prices dropped on Wednesday as higher US Treasury yields weighed on sentiments for the yellow metal and investors awaited the Federal Reserve monetary policy outcome. While gold is seen as an inflation hedge, higher short-term US interest rates and bond yields tend to increase the opportunity cost of holding non-yield bullion. Gold
Overall, the markets are pretty quiet as focuses turns to Fed’s rate hike and guidance today. Dollar is consolidating in tight range, preparing for the next move. For now, Aussie and Loonie are the stronger ones for the week, but they only have a slim advantage over the greenback. Sterling is the worst, followed by
People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022. Kamil Krzaczynski | Reuters Gross domestic product unexpectedly declined at a 1.4% annualized pace in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984, the Commerce Department reported Thursday. The negative growth
In this article SBUX A pedestrian carries a Starbucks branded cup in San Francisco, California, U.S., on Thursday, April 28, 2022. Starbucks Corp. David Paul Morris | Bloomberg | Getty Images Starbucks is expected to report earnings after the bell on Wednesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share:
Considering preliminary figures from CME Group for natural gas futures markets, open interest rose by more than 1K contracts on Tuesday, while volume followed suit and rose for the second straight session, this time by around 91.2K contracts. Natural Gas remains focused on $8.30 Prices of natural gas edged higher and clinched new 13-year highs
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