The NZDUSD is trading marginally lower ahead of the RBNZ decision that will be announced at 10 PM ET. The expectations are for a 50 basis point hike to 2.00%. The hike will be the 5th in a series of hikes that started on October 6, 2021 with a 0.25% hike to 0.50%. They added
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Remarks via MUFG on the euro, analsyts there affriming they are sticking to their neutral bias for EUR/USD in the month ahead. Citing: ECB’s recent hawkish policy shift has helped to provide some much-needed support for the EUR after it briefly tested and held support from the low in early 2017 at 1.0340. EUR has
As economic conditions continue to worsen, financial experts worldwide are increasingly placing the blame at the feet of the Federal Reserve after the central bank was slow to respond to rising inflation early on. Financial markets are currently experiencing their worst stretch of losses in recent history and it doesn’t appear that there is any
Gold prices touched a more than one-week high on Monday, as an easing dollar supported greenback-priced bullion, although rising U.S. Treasury yields capped gains. FUNDAMENTALS Spot gold rose 0.3% to $1,850.39 per ounce, by 0039 GMT, their highest since May 12. U.S. gold futures GCv1 also gained 0.3% to $1,847.90. The dollar began the week
Sterling fall broadly today after much worse than expected PMI data raises concerns of recession ahead. On the other hand, Euro jumps as ECB officials continued to talk up July rate hike, while PMI data were solid. Still, the best performer today so far is Yen, which is supported by receding risk-on sentiment. Dollar is
In this article JWN A pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020. Frederic J. Brown | AFP | Getty Images Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business
The soaring market mood has underpinned pound against the greenback. GBP/USD is aiming to recover Tuesday’s losses ahead of the FOMC minutes. The US Manufacturing PMI remained at par while Services PMI tumbled sharply. The GBP/USD pair has rebounded gradually from a low of 1.2475 as positive market sentiment has underpinned the risk-sensitive currencies. The cable
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Welcome to video #4 of Forex Trading for Beginners — common Forex trading terminologies. This is a free (step by step) trading course that teaches you the essentials of Forex trading — especially for those who have little to no trading experience. Forex Trading for Beginners contains 12 videos and by the end of it,
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USDCAD trades above lower trend line/50% retracement The USDCAD is lower on the day with the price opening at its high and trading down to its low in the North American session. The last 13 or so hours have seen the price trade up and down with a high near 1.2807 and a low at
Equities are still looking subdued on the session with tech the laggard after the Snap warning earlier, as risk trades are pulling back some of their advance from yesterday. Here’s a look at some of the moves today: S&P 500 futures -1.1% Nasdaq futures -1.7% Dow futures -0.7% Eurostoxx -0.9% Germany DAX -0.9% France CAC
TOKYO: Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing’s promises of stimulus. Brent crude futures for July slid 35 cents, or 0.3%, to $113.07 a barrel by 0122 GMT.
The moves in the financial markets are so far rather indecisive. While US stocks rebounded overnight, Asian indexes turned softer. Dollar and Yen are recovering slightly after yesterday’s selloff. Commodity currencies are retreating. European majors are mixed. While Euro and Sterling advanced against the greenback, there is no follow through buying so far. Technically, EUR/USD
A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in New York City, February 27, 2017. Andrew Kelly | Reuters Abercrombie & Fitch shares tumbled more than 20% in premarket trading Tuesday after the retailer reported an unexpected loss in its fiscal first quarter, with freight and product costs weighing
Hawkish leaning European Central Bank (ECB) Governing Council member Robert Holzmann said on Tuesday that a 50 bps rate hike in July would be appropriate and that ending the year with interest rates in positive territory is extremely important, reported Reuters. Euro-area inflation is set to remain above 2.0% in 2023 and 2024, he added, noting
EURUSD bounced off the 50%/swing area. Earlier in the day, the EURUSD moved above the 50% of the range since the April 21 high at 1.06421. The price also moved above the swing high from May 5th at 1.0641 (just a pip off the50% level). There were other swing levels down to 1.0633. The break
After 8 straight weeks of declines in the Dow industrial average and 7 straight weeks of the declines in the S&P and NASDAQ indices, starting a new trading week with solid gains is something to cheer about. Will the streaks be broken this week? So far so good. A look at the major indices shows
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