Overall, the development in the financial markets are rather mixed for now, still awaiting further development in Taiwan Strait tensions. Yen’s rally was somewhat choked by the recovery in US benchmark yields overnight. Dollar is attempting a rebound, but momentum doesn’t warrant a reversal yet. Sterling is the relatively stronger European major, but the break
Month: August 2022
If the U.S. economy is in recession, someone forgot to tell the jobs market. The employment picture over the past six months is behaving nothing like an economy in a downturn, instead creating jobs at a rapid pace of nearly 460,000 a month. Research from CNBC’s Steve Liesman indicates that during a typical downturn, the
In this article HOOD Robinhood CEO Vlad Tenev said Tuesday in a press release that the fintech company will reduce its headcount by approximately 23%. The layoffs will be primarily in operations, marketing and program management. In the release, Tenev blamed “deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad
USD/CHF has picked bids around 0.9600 after a healthy correction. The DXY surrendered gains after the release of the upbeat US ISM Services data. This week, the release of the US NFP will be the key event for the FX domain. The USD/CHF pair has attempted a rebound after a corrective action towards the critical
United States Senate Agriculture Committee chair Debbie Stabenow and ranking member John Boozman introduced the Digital Commodities Consumer Protection Act bill on Wednesday. The bill has been expected for several months. Like the Digital Commodities Exchange Act (DCEA) introduced into the House of Representatives by members of the House Agriculture Committee in April, the new
This pull back based trend following trading system is one of the best ways I have come across to trade in a variety of markets and timeframes. Of course there are additional rules that can be added such as market structure breaks and a method to move the stop loss to break even but I
S&P index extending above its 50% midpoint Both the NASDAQ index and the S&P index are trading above their 100 day moving averages, and both are up testing/moving above their 50% midpoint’s of the move down from the March high to the June low. Looking at the S&P index the 50% midpoint comes in at
The US dollar is at the best levels of the day after the ISM services report beat estimates, casting doubt on the recession talk. The July reading was 56.7 compared to 53.5 expected, boosting hopes that spending is making a smooth shift to services from manufacturing. Moreover, the measure of prices paid decelerated to 72.3
Gold in the national capital on Wednesday declined by Rs 208 to Rs 51,974 per 10 grams, according to Securities. The yellow metal had closed at Rs 52,182 per 10 grams in the previous trade. Silver also fell sharply by Rs 1,060 to Rs 57,913 per kg from Rs 58,973 per kg in the previous
Yen, Swiss Franc and Dollar turn softer with other markets trading in slightly upbeat tone. Traders are back to business as usual, after no substantial actions from China during the time US House Speaker Nancy Pelosi visited Taiwan. Australian Dollar is leading Canadian and Sterling higher. Euro is mixed for now. Focuses will turn to
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018. Ann Saphir | Reuters The Federal Reserve still has a lot of work to do before it gets inflation under control, and that means higher interest
In this article PYPL Dan Schulman, president and chief executive officer of PayPal Holdings Inc., arrives for the morning session of the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Wednesday, July 10, 2019. The 36th annual event gathers many of America’s wealthiest and most powerful people in media, technology,
Gold regains positive traction on Wednesday amid escalating US-China tensions over Taiwan. The emergence of fresh USD selling turns out to be another factor lending support to the metal. The overnight hawkish remarks by several Fed officials keep a lid on any meaningful upside. Gold attracts some dip-buying near the $1,755 region on Wednesday and
CLICK HERE – https://www.itpm.com/ – On February 7th 2013, the Institute of Trading and Portfolio Managements Managing Partner Anton Kreil was interviewed at Cass Business School by students of the University. In this exclusive interview Kreil gives an insight into the trends occurring in world financial markets for professional and retail traders, his thoughts on
EURJPY moved below the 200 day moving average and failed The EURJPY moved to the lowest level since May 13. The move also took the price below its 200 day moving average for the 1st time since March 16. The price entered into a swing area between 132.70 and 133.47, but could not sustain downside
USD/JPY followed through with further gains during the session here today, rising to near 133.90. As I post its come back from that area but is still higher on the session circa 133.30. There were mixed results elsewhere across the majors. EUR/USD has gained a few points while AUD/USD is close to unchanged on the
Gold slipped on Wednesday as the dollar and U.S. Treasury yields advanced after hawkish comments from Federal Reserve officials hinted at continuing aggressive interest rate hikes in the near term. FUNDAMENTALS * Spot gold was down 0.2% at $1,757.08 per ounce, as of 0105 GMT, after hitting a near one-month high of $1,787.79 on Tuesday.
Yen’s strong rally continues in Asian session today, with help from risk-off sentiment as well as extended decline in US benchmark yields. Stocks are trading lower while investors are cautiously waiting for any concrete action by China over US House Speaker Nancy Pelosi’s visit to Taiwan. Dollar and Euro are also mildly firmer with Swiss