Category: Markets
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Dollar edges lower ahead of Jackson Hole; euro, sterling higher By Investing.com
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The US dollar fell in early European trading on Friday, as the recovery from seven-month lows faltered ahead of Federal Reserve Chairman Jerome Powell’s much-anticipated speech at the Jackson Hole Symposium. At 04:30 ET (09:30 GMT), the dollar index, which tracks the greenback against a basket of six other currencies,…
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Daily Broad Market Recap – August 22, 2024
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Profit-taking was the name of the game on Thursday as major assets reversed their trends for the week ahead of Powell’s keynote speech on Friday. Spot gold and the S&P 500 continued to trade lower near record highs, while U.S. bond yields and the U.S. dollar recovered despite mixed U.S.…
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Gold bulls dealt a minor setback in trading yesterday
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With the dollar rebounding slightly, gold is down 1% and more importantly back below the $2,500 level. The price is still above the previous triple top pattern at around $2,480, but buyers are hoping for a more convincing push above the figure to reinforce the breakout case. Gold (XAU/USD) Hourly…
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Gold bulls dealt a minor setback in trading yesterday
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With the dollar rebounding slightly, gold is down 1% and more importantly back below the $2,500 level. The price is still above the previous triple top pattern at around $2,480, but buyers are hoping for a more convincing push above the figure to reinforce the breakout case. Gold (XAU/USD) Hourly…
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Airlines fly over Afghanistan as Middle East becomes the greater risk By Reuters
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By Joanna Pluchinska and Lisa Barrington LONDON/SEOUL (Reuters) – Singapore Airlines, British Airways and Lufthansa have increased their flights over Afghanistan after years of largely avoiding it now that conflict in the Middle East has made it a relatively safe option. Most airlines stopped flying over Afghanistan, which lies on…
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Asia FX firms with Powell in focus; yen rises as BOJ’s Ueda talks rate hikes By Investing.com
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Most Asian currencies rose on Friday as the dollar’s recovery slowed ahead of a highly anticipated speech by Federal Reserve Chairman Jerome Powell, where he is expected to provide further signals on interest rate cuts. The Japanese yen was the best performer in Asia, extending a rally seen earlier this…
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Chart Art: Is Spot Gold (XAU/USD) Ready To Extend Its Uptrend?
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Spot gold prices took a breather after hitting new record highs earlier this week. Is the commodity ready to extend its upward trend after falling to the technical support area? The 4-hour daily chart might give us some clues! Gold (XAU/USD) 4 hours Chart by TradingView If you missed yesterday’s…
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ForexLive Asia-Pacific FX news wrap: USD/JPY fell back under 145.50 as BoJ Gov Ueda spoke
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Factbox-List of Chinese entities who have turned to the cloud for access to restricted US tech By Reuters
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(Reuters) – Chinese entities with ties to the state are using cloud services provided by Amazon.com Inc or its rivals to access advanced U.S. chips and artificial intelligence capabilities they could not otherwise obtain, recent public bidding documents show. Providing access to such technologies through the cloud does not violate…
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U.K.’s PMIs Showed Solid Private Sector Expansion In August
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S&P Global’s August Purchasing Managers’ Index (PMI) reports reflected strong expansions in UK private sector activity, with manufacturing jumping to a 26-month high and services rising to a four-month high. The composite index measuring the manufacturing and services sectors was also in the spotlight as it reached its highest levels…
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BOJ Governor Ueda says concerns over US economy slowdown behind recent market rout
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Australian regulator hikes ANZ’s capital requirements after bond trading misconduct By Reuters
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Australia’s prudential regulator said on Friday it had increased ANZ Group’s additional capital requirement to A$750 million ($502.73 million), stepping up its regulatory oversight after the bank recently admitted to providing incorrect bond trading data. The move by the Australian Prudential Regulation Authority (APRA), which represents an A$250 million increase…
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TA of the Day: Is GBP/USD’s Bull Run Sustainable? Watch These Critical Levels!
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the GBP/USD The pound has risen sharply over the past two weeks, but its rise has slowed slightly to near last year’s high of 1.3143. Despite the pair’s decline, the price action indicates a very strong bullish sentiment in GBP/USD pair. However, this optimism may be short-lived, as the less…
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TA of the Day: Is GBP/USD’s Bull Run Sustainable? Watch These Critical Levels!
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the GBP/USD The pound has risen sharply over the past two weeks, but its rise has slowed slightly to near last year’s high of 1.3143. Despite the pair’s decline, the price action indicates a very strong bullish sentiment in GBP/USD pair. However, this optimism may be short-lived, as the less…
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UBS looks to fade rallies in the US dollar, move into other G10 currencies
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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AstraZeneca warns of moving UK vaccine production to US, FT reports By Reuters
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(Reuters) – AstraZeneca has warned it may move vaccine manufacturing from the United Kingdom to the United States amid a standoff with the new Labour government over plans to cut state aid, the Financial Times reported on Thursday. UK finance minister Rachel Reeves wants to cut government funding for the…
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Euro bounces from 1.11 | Forexlive
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Yesterday, the euro touched a one-year high, rising for a fourth straight day. Much of the rally was driven by broad-based dollar weakness, but the market is also taking comfort in the idea that the eurozone is not headed for an ugly economic outcome. Eurozone consumer confidence data released today…
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Wall Street Braces for ‘Reality Check’ From Powell: Markets Wrap
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(Bloomberg) — Bond yields rose and stocks fell as traders bet that Jerome Powell will pour cold water on market expectations for a sharp interest-rate cut this year. Most Read from Bloomberg Treasury yields rose across the curve, led by shorter maturities. The dollar also gained. The S&P 500 lost…
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‘Indescribable’ crew errors led to Sicily shipwreck, yacht maker says By Reuters
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By Matteo Negri MILAN (Reuters) – A series of “unspeakable, unbelievable mistakes” by the crew led to the sinking of the luxury yacht that killed British businessman Mike Lynch and six others earlier this week, the chief executive of the luxury yacht maker told Reuters on Thursday. The British-flagged 56-metre…
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Nasdaq falls 1%, S&P drops as markets await Powell’s rate signals at Jackson Hole
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Major U.S. stock indexes fell on Thursday, with losses deepening ahead of Federal Reserve Chairman Jerome Powell’s speech on monetary policy at the central bank’s Jackson Hole Economic Symposium. Nasdaq Composite Index (Compound: Indian) -1.2%Standard & Poor’s 500 Index (SP500)) He was -0.7%and the Dow Jones Industrial Average (DJI) -0.6%with…