USD/MXN turns negative, after hitting weekly highs near 20.30. A recovery in market sentiment helped the Mexican peso during the American session. A consolidation above 20.20 is likely to trigger more gains. Emerging market currencies recovered ground during the American session from multi-day lows. They remain under pressure affected by the sharp decline in global
Month: June 2022
Gold in the national capital on Thursday fell by Rs 323 to Rs 50,572 per 10 grams, according to securities. In the previous trade, the precious metal settled at Rs 50,895 per 10 grams. Silver also tumbled by Rs 776 to Rs 59,377 per kg from Rs 60,153 per kg in the previous trade. In
Bank of America Global Research discusses USD/JPY technical outlook and warns of a scope for a correction lower in July. “A triangle breakout targeted 131.50 (reached), the trailing high from 2002 is in the 135s (reached), the interior trend line is approximately 140/141, the 38.2% head and shoulders target is 145.18, the peak in 1999
US 10-year yields are in danger of falling below 3% for the first time since the surprise CPI report followed by the 75 bps Fed hike. The decline comes after today’s PCE report, which is the Fed’s preferred measure of inflation. Prices rose 0.3% in the month, less than the +0.4% reading economists were expecting.
Euro is under broad-based pressure today as selloff against Swiss Franc spreads to other pairs. Yen is currently the best performer following another round of pull back in Germany, and to a lesser extent US, benchmark yields. Aussie and Kiwi are also recovering while Dollar is firm. But for the week, Swiss Franc is still
The Walgreens store at State and Randolph Streets in Chicago. Nancy Stone | Chicago Tribune | Tribune News Service via Getty Images Walgreens Boots Alliance on Thursday reported quarterly sales and earnings that came in above expectations as it grew online sales and continued to administer Covid-19 vaccines. The drugstore chain stood by its outlook
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It’s been another day of watching the ripples of contagion spread through the crypto market. With Three Arrows Capital being ordered into liquidation by a British court, details have also emerged today of BlockFi liquidating a $1B loan to 3AC, and the fallout from the insolvency was partly to blame for lending firm and market
USD/CAD is likely to display some losses as DXY skids and oil rebounds. As per Fed Powell, even a spree of rate hikes doesn’t guarantee the return of the inflation rate to 2%. Oil prices witnessed a significant correction as comments from central banks diminishes demand forecasts. The USD/CAD pair has sensed barricades around the
OPEC and OPEC+ begin a series of two-day meetings on Wednesday with sources saying chances of a big policy change look unlikely this month. At its last meeting in early June OPEC+ decided to speed up production cuts and to raise output each month by 648,000 barrels per day (bpd) in July and August, up
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RBC energy strategist on the state of the oil market. says the oil market is currently caught between “the strongest fundamental oil market set up in decades, maybe ever,” and a deteriorating macroeconomic backdrop threatening the outlook for demand. called for the price of North American benchmark West Texas Intermediate (WTI) (CL=F) crude to average
Swiss Franc continues to rise broadly today, with additional help from selloff in Euro. The common currency is weighed down by Germany CPI, which unexpectedly slowed in June. But for now, Aussie, Sterling and Yen are even weaker than Euro. On the other hand, Canadian Dollar is second strongest as supported by rebound in oil
In this article BBBY A pedestrian walks by a Bed Bath and Beyond store in San Francisco, California. Justin Sullivan | Getty Images Bed Bath & Beyond said Wednesday that it is replacing CEO Mark Tritton as part of a leadership shakeup as the retailer’s quarterly sales and earnings sharply missed Wall Street expectations. Shares
Gold reversed from two-day highs and is back near weekly lows. US dollar rises across the board following comments from Portugal. Gold prices dropped sharply during the American session, erasing daily gains. XAU/USD peaked at $1833, the highest level in two days and then turned lower, falling to $1814, slightly above the daily low of
New Delhi: Gold price in the national capital fell by Rs 176 to Rs 50,649 per 10 grams on Wednesday, reflecting a decline in international precious metal prices, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,825 per 10 grams. Silver also fell by Rs 443 to Rs 59,725
Sellers are keeping near-term control with the highs today failing to get above the 100-hour moving average near 0.6920 earlier in the day. We are now seeing price stumble to fresh lows of 0.6875 and that is closing in on last week’s lows around 0.6869-75. A break below that will bring the focus back to
Risk-off sentiment is back in Asia today, after US stocks were sold off on poor consumer confidence data. In the currency markets, trading is relatively subdued, with Euro and Dollar trading in soft tone. Canadian Dollar and Swiss Franc are the strongest ones for the week. In particular, Swiss Franc is extending up trend against
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