It’s another poor week for Yen following the rally in benchmark treasury yields in US and Europe. It should be noted again that BoJ has a 0.25% cap on 10-year JGB yield, and thus, gaps are widening. Sterling was a distant second weakest, on risks of stagflation while Swiss Franc also softened. Canadian Dollar was
Month: June 2022
Binance Labs closed a $500 million fundraising round to secure capital that will be invested into Web3, blockchain, and value-building technology. The investment will be directed towards projects that work on developing more use cases for crypto by the team at Binance Labs. This fundraising round was supported by some of the leading global investors
US dollar strengthens on Friday amid risk aversion and higher US yields. Positive employment report partially offset by a weaker reading of ISM Service PMI. EUR/USD flat for the week at around 1.0700. The EUR/USD failed to recover the 1.0750 zone and pulled back during Friday’s American session toward the 1.0700 area. It is about
Steel prices in the domestic market have fallen by almost a tenth in the two weeks since the Centre levied export duty on the alloy, a trend underscored by the seasonal slowdown in demand. Prices of domestic benchmark hot-rolled coil (HRC) steel at the traders’ end have slipped by about 8% or ₹5,500 to about
AUDUSD failed on break above 200 day moving average The AUDUSD yesterday first tested – and then broke – above its 100 day moving average at 0.72296 (top blue line on the chart above). The momentum took the price up to the 200 day moving average at 0.72561 (top green line) and ultimately above that
The US employment data was released today with nonfarm payroll adding another 390K jobs. That comes after a 436K jobs increase in the prior month (was 428K). The expectations for the month was for 325K. Although lower than the prior month, it still represented a solid gain at this point in the cycle. Since January
Commodity currencies remain in the driving seat for the week, with Aussie having a slight upper hand over Loonie. Both are supported by firmer risk sentiments, as well as expectations for more tightening. Yen is the runaway loser for the week and looks set to resume broad based down trend. Dollar is mixed for now,
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The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just
NZD/USD slid back to the low 0.6500s from earlier multi-week highs as the buck strengthened post-strong US jobs data. Attention turn to US CPI next week and evidence of a further easing of US price pressures could support NZD/USD. NZD/USD slipped back from multi-week highs it hit earlier in the session in the upper 0.6500s
Gold prices rose by Rs 294 to Rs 51,236 per 10 grams in the national capital on Friday, according to Securities. In the previous trade, the yellow metal finished at Rs 50,942 per 10 grams. Silver also zoomed by Rs 523 to Rs 62,577 per kg from Rs 62,054 per kg in the previous trade.
GBPUSD moves down to test swing area support after NFP The GBPUSD retraced Wednesday’s decline yesterday and in doing so move back up toward the 100/200 hour moving averages (blue and green lines in the chart above). Recall on both Tuesday and Wednesday, the price tested the 200 hour moving average before falling below that
ISM nonmanufacturing index ISM non-manufacturing PMI 55.9 vs 56.4 estimate. Last month 57.1 employment 50.2 vs 49.5 last month. 9 industries reported increases while 6 industries reported declines including retail trade, finance insurance, agricultural, information, management in companies and public administration new orders 57.6 vs 54.6 last month. 15 industries reported growth while 2 reported
Dollar jumps broadly in early US session after stronger than expected headline non-farm payroll numbers. For now, the greenback is still behind Canadian and Australian Dollar in the weekly race, however. On the other hand, Yen’s selloff is extending again, as pressured by strong rally in global benchmark treasury yields. European majors are mixed, with
In this article MSFT Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft shares slid more than 3% on Thursday after the company lowered its fiscal fourth-quarter guidance, citing unfavorable foreign
Two out of the top 10 largest cryptocurrency exchanges by volume will expand into new markets, with Crypto.com obtaining a provisional crypto license in Dubai and FTX launching in Japan. Crypto.com announced on June 2 that the Dubai Virtual Assets Regulatory Authority (VARA) provided the exchange with provisional approval of its Virtual Asset License giving
Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session on doubts that producers belonging to OPEC+ can hike their crude output enough to make up for lost supply from Russia. U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $116.88 a barrel at 0112 GMT, while