Oil prices rose by over $2 on Wednesday on signs of tighter supply, a weaker dollar and optimism over a Chinese demand recovery. But the likelihood that OPEC+ will leave output unchanged at its upcoming meeting limited the gains. Brent crude futures rose $2.22, or 2.67% to $85.25 per barrel by 1340 GMT. The more
Month: November 2022
S&P 500 with 200 day moving average Even the world’s least-technical traders need to know this chart right now and the importance of the 4050 level today. In August, the S&P 500 rallied to almost-precisely the 200-day moving average, which was then at 4326 before crumbling. The high that day was 4326.18 with the DMA
The market is focused on a less-hawkish message from Powell today but the big moves this week are in China, where it’s increasingly clear that covid-zero is coming to an end. Controls must be applied with “softness” and “greater precision” to ensure daily life can continue, various news reports in official publications said. Reports of
Overall markets remain steady in consolidative trading today. There is little reaction to lower than expected Eurozone CPI and US ADP job data. Fed Chair Jerome Powell’s speech might trigger some volatility, or traders will have to wait for non-farm payrolls on Friday. For now, Dollar is the strongest for the week, followed by Yen
[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is slated to speak Wednesday at the Brookings Institution. His comments will come as investors look for clues on future monetary policy moves by the
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Canadian Q3 GDP was up more than expected. Details were more downbeat however. Economists at Commerzbank maintain a CAD bearish stance. Mixed data on growth in Q3 “At 2.9% the seasonally adjusted QoQ rise came in well above Bloomberg consensus expectations of 1.5% (both annualised). Looking at the details revealed a fly in the ointment,
Gold prices ticked up on Wednesday before trading flat, aided by a dip in the US dollar. Investors will now focus on Federal Reserve Chair Jerome Powell’s speech for insights into the US central bank’s monetary policy path. Powell’s speech at a Brookings Institution event, scheduled for 18.30 GMT, will be evaluated for any new
DXY bounces off a cluster of support Yesterday, the dollar index (DXY) moved to a low of 105.321. The 200 day moving average was at 105.374. The brief dipped below that moving average level was quickly bought. Also near the level is the 38.2% retracement of the move up from the May 25, 2021 low.
The pair is trading rather flat today as markets are still sorting out their feet on the week. Softer inflation figures in Europe yesterday weighed on bond yields initially but that switched up when we got to US trading, with Treasury yields rising instead. That helped USD/JPY to avert another close below daily support around
Overall, the forex markets are very cautious for now, awaiting the key events of the week, including Eurozone CPI flash today and US non-farm payrolls on Friday. There is no breakthrough in the unrest in China, with reports of escalation in protests in manufacturing center of Guangzhou. Yen and Dollar are now the stronger ones
Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Global markets have taken heart in recent weeks from data indicating that inflation may have peaked, but economists warn against the return of the “transitory” inflation narrative. Stocks bounced when October’s U.S.
In this article CRWD Follow your favorite stocksCREATE FREE ACCOUNT George Kurtz, co-founder and CEO of CrowdStrike, speaks at the Wall Street Journal D.Live global technology conference in Laguna Beach, California, on Oct. 17, 2017. Patrick T. Fallon | Bloomberg | Getty Images CrowdStrike shares plunged 18% in extended trading on Tuesday after the cybersecurity
FTX’s former CEO Sam Bankman-Fried has divulged what really went on in the days before it filed for bankruptcy when the exchange selectively reopened withdrawals — only for Bahamian users. In a telephone interview with crypto blogger Tiffany Fong, dated Nov. 16, Bankman-Fried claims to have made the decision to reopen withdrawals to Bahamian citizens
USD/CAD struggles to extend three-day uptrend near the highest levels in three weeks. Break of two-month-old horizontal support, bearish MACD signals favor buyers. 50-DMA, seven-week-long descending trend line restrict immediate upside. USD/CAD remains sidelined around 1.3585-90, recently picking up bids, as traders struggle with the key hurdle during early Wednesday morning in Asia. In doing
Oil prices jumped by 3% on Tuesday on hopes for a relaxation of China‘s strict COVID-19 controls after rare protests in Chinese cities over the weekend. Brent crude futures gained $1.95, or 2.3%, to $85.14 a barrel at 1445 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.51, or 2%, to $78.75. Chinese health
USDCAD takes a breather The USDCAD has raced higher in trading today and in the process really had limited corrective price action. There was a brief consolidation after the better-than-expected GDP, but it has been racing back to the upside over the last few hours. However, the last 20 minutes have seen a rotation to
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