The Bank for International Settlements, or BIS, has reported it will be partnering with the central banks of Israel, Norway and Sweden to explore international retail and remittance payments use cases for central bank digital currencies, or CBDCs. In a Sept. 28 announcement, the BIS said the collaboration — named Project Icebreaker — will involve
Month: September 2022
Gold price declined by Rs 435 to Rs 49,282 per 10 gram in the national capital on Wednesday in tandem with fall in rates of the precious metal in international market, according to Securities. In the previous trade, the yellow metal had settled at Rs 49,717 per 10 gram. Silver also tumbled by Rs 1,600
In a surprised move, BoE announced to intervene in the gilt markets. While 10-year gilt yield drops notably on the news, the recovery in FTSE is just mild. Sterling also just fluctuates and it’s trading as the weakest one for the day. On the other hand, Swiss Franc buyers jump in on worsening energy crisis
Ray Dalio, founder of Bridgewater Associates LP, speaks during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022. Bloomberg | Bloomberg | Getty Images The financial market turmoil resulting from the U.K. government’s spending plan “suggests incompetence,” according to billionaire investor Ray Dalio. “I
Lego Star Wars toys sit on display inside a Toys “R” Us Inc. store in Paramus, New Jersey, U.S., on Tuesday, Nov. 26, 2019. Bloomberg | Getty Images Lego sales are building on pandemic-era growth, boosted by popular sets from Lego Star Wars and Lego Harry Potter. On Wednesday, the privately held Danish toymaker said
USD/JPY struggles to gain any meaningful traction and remains confined in a range. A combination of factors underpins the JPY and acts as a headwind for the major. The Fed-BoJ policy divergence, relentless USD buying continue to extend support. The USD/JPY pair extends its consolidative price move and remains confined in the 144.50-145.00 broader trading
This is my extracted commentary from this mornings technical video. If you want to learn about analyzing the market price action, I think it has some lessons. I will explain more below. Take a look at the video first. Lesson 1. Know what the bias is. Yes.. the price moved higher today, but overall, the
It’s rare to see the IMF stepping on the toes of developed nations but such is the predicament in the UK at the moment after the run against the currency and collapse of the bond market following Kwarteng’s budget announce last Friday. Here are some excerpts from the IMF statement towards the UK on the
Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. * U.S. gold futures dipped 0.2% to $1,632.4. * The
Risk-off sentiment dominates Asian markets today, as the Chinese Yuan’s free fall accelerates. The steep depreciation could limit the room for the government to ease monetary policy further to help the economy that’s still troubled by pandemic measures. Yen and Dollar are currently the stronger ones in the currency markets, followed by Swiss Franc. Kiwi
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What you need to take care of on Wednesday, September 28: Dollar buying paused early Tuesday but resumed following the release of better-than-expected US data, also helped by the poor performance of Wall Street. In addition, fears of a worldwide recession keep leading the market sentiment. During the European morning, European Central Bank President Christine
The AUDUSD is testing the lows from yesterday at 0.64377. Looking at the weekly chart below, that low took the pair below the 61.8% of the move up from the 2020 low to the high reached in 2021 at 0.64615. After a move higher today took the pair back above that retracement level, the sellers
The rule of thumb is that when something breaks the 61.8% retracement, it finishes the job. That’s a scary thought for AUD/USD but after five brutal days of selling in the past six days, it’s certainly not unthinkingable. What would have to happen to get there? Some combination of these things: Continued — and perhaps
Markets briefly flashed green on Sept. 27 as equities markets bounced back from Sept. 26’s pullback, bringing the Bitcoin (BTC) price back to the long-term descending trendline resistance, which currently resides at $20,100. Unfortunately for bulls, the positive momentum for stocks and cryptocurrencies rapidly eroded and Bitcoin price gave up a majority of the intraday
New Delhi, Capital markets regulator Sebi on Tuesday came out with a new framework for daily price limit for commodity futures contracts in a bid to resolve the difference in closing price at domestic exchange and global bourse. The Daily Price Limits (DPLs) define the maximum range within which the price of a commodity futures
Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year yield’s reaction to 4% handle, and
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