AUDUSD backtracks to the high from last week The AUDUSD moved sharply higher after stronger CPI data in the Asian-Pacific session. CPI came in at up 1.9% for the quarter. With the central bank targeting 2.0% for the year, the 1.9% is just too high. The YoY inflation moved up to 8.4%. A higher AUD
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Consumers spent less in December even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing, the Commerce Department reported Friday. Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the 4.7% reading in November and in line with the Dow Jones
In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT Scott Mlyn | CNBC Comcast on Thursday reported fourth-quarter earnings that topped analyst expectations despite persistent softness in broadband subscriber growth and mounting losses from its streaming service, Peacock. The company’s top-line growth was fueled by higher revenue from its broadband and wireless businesses, as
China is certainly seen as the manufacturing hub of the world but there’s one area of global production that’s largely untouched and it’s the biggest one: Automotive. There aren’t many countries where you would see an Chinese built or designed vehicle on the roads but that may soon change, and it could be far more
Oil prices edged marginally higher on Friday, extending for a second session on strong U.S. economic data and strengthening hope that the reopening of the Chinese economy would boost demand. Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel by 0113 GMT, while U.S. crude rose 21 cents to $81.22 per barrel, a
The markets are steady after US data showed further cooling in headline and core PCE inflation. While the decline in Dollar has been slowing somewhat, there is no committed buying for a sustainable rebound. The greenback is likely to end the week mixed. Trade might be relatively subdued for the rest of the session. Traders
Analysts at MUFG Bank see the USD/ZAR moving to the downside over the next days. They point out the South African Rand has failed to strengthen alongside other Emerging Market currencies on the back of building optimism over a dovish Federal Reserve policy pivot and China’s economy reopening more fully this year. Key quotes: “The
Institutional investors are “not giving up on crypto,” with recent data pointing to as much as 85% of Bitcoin buying being the result of American institutional players, according to Matrixport’s chief strategist. Markus Thielen, the head of research and strategy at the financial services firm, told Cointelegraph the evidence shows that institutions are not “giving
USDCAD gains above 100/200 hour MAs could not be sustained The USDCAD moved above the 100/200 hour MAs after the BOC said that they would raise rates by 25 basis points but would pause policy for a period of time. The gains fell short of the next topside swing area between 1.3436 and 1.3444. The
In this article INTC Follow your favorite stocksCREATE FREE ACCOUNT Pat Gelsinger, CEO, of Intel Corporation, testifies during the Senate Commerce, Science, and Transportation hearing on semiconductors titled Developing Next Generation Technology for Innovation, in Russell Senate Office Building on Wednesday, March 23, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images Intel shares
The CPI rate in Japan’s capital Tokyo hit a 42-year high in January. The inflation data from Tokyo is published about 3 weeks ahead of nationwide CPI and serves as a guide to what to expect. The Bank of Japan have insisted, over and over, that current high levels of inflation in Japan are transitory
Gold prices were little changed in early Asian hours on Friday, as traders awaited U.S. inflation data due later in the day to gauge the Federal Reserve‘s rate-hike stance. FUNDAMENTALS * Spot gold rose 0.1% to $1,931.95 per ounce, as of 0030 GMT, and was headed for a sixth consecutive weekly gain. U.S. gold futures
Australian Dollar strengthens further with mildly positive risk sentiment in Asia. But other major currencies are sluggish. Yen is still recovery but apparently lacks committed buying. Canadian Dollar is staying soft after yesterday’s BoC hike, but selloff is relatively limited. Euro is having a slight upper hand against Dollar, but both are actually mixed. Focuses
Gold price extends the previous day’s losses on breaking $1,937-38 key support. US Dollar’s rebound ahead of Fed’s preferred inflation gauge also weighs XAU/USD. Hopes of US debt ceiling extension, fading recession woes underpin USD strength. Firmer US Core PCE Price Index becomes necessary for the Fed to defend hawkish policy moves and the Gold
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