Australian dollar pulls back versus greenback, still above FOMC levels. US dollar hit by lower US yields after economic data. AUD/USD retreats from 0.7000, and holds a bullish bias. The AUD/USD printed a fresh daily low during the American session at 0.6954. It is attempting to recover momentum supported by an improvement in market sentiment
Month: July 2022
The blockchain space is seeing some areas of strength despite the perceived downturn in the market. The perpetual futures funding rates for Bitcoin (BTC) and Ether (ETH) have flipped back to positive on major exchanges, which shows bullish sentiment among derivatives traders. In addition, Bitcoin started trading below its cost basis, which has marked previous
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US 10 year yield fall away from 100 day MA The US 10 year yield is moving sharply to the downside. The current yield is at 2.68%. That’s down around 10 basis points on the day. The low yield reached 2.66%. That was the lowest level since April 14. Looking at the daily chart above,
The major US stock indices are trading lower in premarket trading. The NASDAQ index was down around 100 points near the start of the US session. It has erased those declines in trades above and below unchanged in early US trading. A snapshot of the market currently shows: Dow industrial average up 29.86 points or
Gold in the national capital on Thursday jumped Rs 592 to Rs 51,750 per 10 grams, amid a rally in international precious metal prices, according to Securities. In the previous trade, the yellow metal finished at Rs 51,158 per 10 grams. Silver also surged by Rs 1,335 to Rs 56,937 per kg from Rs 55,602
Yen rises strongly today, and buying intensifies in early US session, after surprisingly poor US GDP data. Benchmark treasury yield in both the US and Germany tumble sharply, aiding Yen’s advance. Swiss Franc is also strong For now, Euro is the worst performer for today, as selling started earlier in European session already, while Sterling
The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday. Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate. That follows a 1.6% decline in the first
Coronavirus disease (COVID-19) treatment pill Paxlovid is seen in boxes, at Misericordia hospital in Grosseto, Italy, February 8, 2022. Jennifer Lorenzini | Reuters Pfizer’s second-quarter revenue and profit beat Wall Street expectations, driven by sales of its Covid-19 vaccine and its antiviral treatment Paxlovid. Pfizer booked $27.7 billion in revenue, a 47% increase over the
The Financial Times (FT) quotes a Bloomberg survey of economists to raise expectations that the US may avert technical recession during its flash readings of the Q2 Gross Domestic Product (GDP) Annualized, expected 0.4% versus -1.6% prior, scheduled for Thursday. “The US is expected to report weak second-quarter growth on Thursday following a contraction in
EURUSD going into FOMC with more of a bearish bias The EURUSD is trading to a new low of 1.0102 as the clock ticks to Fed time at 2 PM. The high in the London session today stalled ahead of the 200 hour MA (green line). On Monday and yesterday’s highs, were higher but kept
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NEW DELHI: Gold price little changed on Wednesday ahead of the Federal Reserve’s outcome as investors stayed cautious over the outlook for the bullion. The US central bank is widely expected to raise interest rates by another 75 basis points (bps) at the conclusion of its policy meeting on Wednesday, as it attempts to tame
Dollar is trading with a soft tone today, as focus turns to FOMC rate decision. Another 75bps hike is widely expected and Chair Jerome Powell is not expected to deliver any dramatic comments. Traders would likely come back after the event risk is cleared. In the currency markets, Euro is staying under much pressure on
In this article META Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak forecast, pointing to a second consecutive decline in year-over-year sales. The shares dropped 3.8% in extended trading. Here’s how the company did: Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv
US Dollar recovers strength during the American session, remains in recent range. FOMC to announce its decision at 18:00 GMT. NZD/USD near key support of 0.6185/90. The NZD/USD broke below 0.6220 and slide to 0.6196, hitting a six-day low. The pair holds a negative bias ahead of the FOMC statement and as the dollar strengthens.
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