Author: FX

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid/File photo By Tom Westbrook SINGAPORE (Reuters) – Oil prices scaled one-year highs on Thursday while world stocks eyed their longest losing streak in two years as worries deepened about persistently high interest rates, sending investors to shelter in the safety of a surging U.S. dollar. A surprisingly big drop in stocks has stoked concern that fuel demand is outstripping production right when markets least needed another supply-side shock. U.S. crude rose 3.6% on Wednesday and another…

antipodean Major stock market indices in the Asia-Pacific region are mostly trading lower on Thursday in anticipation of the latest information regarding Japan’s inflation, unemployment rate, and industrial production. Meanwhile, two Hong Kong-listed branches of Evergrande Group halted trading without further explanation, reinforcing instability in China’s real estate sector. New Zealand After declining in the previous two sessions, the New Zealand Dollar traded around $0.5940 on Thursday, helped by recent data showing that business mood in the country improved in September for the first time in 28 months, as cost pressures eased further. Meanwhile, speculation increased that the RBNZ which…

Bloomberg opinion piece from one of their crypto analsyts, says the US regulator, the Securities and Exchange Commission (SEC) wanted to quicken the launch of Ether futures ETFs: “They want it off their plate before the shutdown” Said approval could come on Friday afternoon US time) so they can start trading as early as Tuesday next week. There are 15 Ethereum futures ETFs from nine issuers currently awaiting approval say the Bloomberg analysts.–Reminder, the US government will shut down at 1201am on October 1 if Congress doesn;t pass funding. The chances of a shutdown re rising:–ETH caught a wee bid:…

Share: Australian Dollar attempts to recover from the 10-month low. Australia’s Retail Sales dropped to 0.2% compared to the expected 0.3% readings. US Dollar continues to strengthen on higher US Treasury yields, coupled with upbeat economic data. The Australian Dollar (AUD) hit a 10-month low on Wednesday. However, the AUD/USD pair is attempting to recover from the recent losses despite disappointing Australia’s Retail Sales data. Australia’s monthly Consumer Price Index (CPI) has rebounded from July’s reading, which could be attributed to the increasing energy prices. This expected increase in inflation has raised anticipations of another interest rate hike by…

Gargolas/iStock via Getty Images Shares of power producers (NYSEARCA:XLU) fell sharply Wednesday, as U.S. Treasury yields lingered at multiyear highs, diminishing demand for dividend-oriented utility stocks. The yield on the 10-year Treasury note closed at 4.625%, its highest level since 2007. The S&P 500 Utilities Index closed -1.9% after touching its lowest intraday level since March 2021, after shedding 6% during the past five sessions. NextEra Energy (NYSE:NEE) plunged 8.2% Wednesday to lead losses on the index, after NextEra Energy Partners (NEP) cut its forecast for full-year run-rate adjusted EBITDA and its growth-rate expectations for limited partner distributions. On Tuesday,…

MEXICO CITY (Reuters) – Authorities identified the bodies of six teenage boys at a ranch in central Mexico along with one survivor, state prosecutors said on Wednesday, in a case that may be linked to an armed kidnapping possibly connected to violent criminal gangs. A government source who asked not to be named confirmed that the bodies correspond to the case of six missing boys kidnapped earlier this month. State prosecutors in Zacatecas state only confirmed that the young men were found at a ranch in the city of Villanueva, along with the teenager who was found alive, and that…

XAU/USD, S&P 500 PRICE FORECAST:MOST READ: Japanese Yen Outlook: USD/JPY, EUR/JPY Analyzed Post BoJ Minutes ReleaseDownload your Free Guide for Beginner Traders Now Recommended by Zain Vawda Forex for Beginners Global markets continued to feel the pinch today extending losses in the early part of the US session as US Yields continued to advance alongside the US Dollar. Gold was no different slipping below the $1900 mark with gusto as it breezed past recent lows around $1884 to print a session low of $1872 at the time of writing.US DOLLAR INDEX (DXY) AND AUTO WORKERS STRIKEThe US Dollar index hit…

Hey there, trading aficionados! Today, we’re diving into the world of forex with EUR/CAD as our star of the show! So, let’s roll up our sleeves and dissect the price action on the 1-hour chart, where things have been quite interesting for the pair in September. EUR/CAD: 1-Hour Forex Chart by TradingView First things first, let’s talk about September’s theme for EUR/CAD: the strong downtrend. It’s like the currency pair decided to embrace the autumn blues a little too enthusiastically. Picture leaves falling, the wind blowing, and the price chart heading south without a care. But wait, there’s more to…

The Nasdaq has stormed back and is now trading up 0.5% after earlier touching the lowest since June. It’s an unexpected turnaround given that Treasury yields have barely budged from the highs.We’re dealing in some turbulent waters at the moment as quarter-end flows dominate. You would think that would lead to stock selling and bond buying on rebalancing but that might be overwhelmed by window dressing.Nasdaq Comp dailyIn terms of names, Google is one of the stronger ones up 1.5%. Source link

Share: The Dow Jones Industrial Average lost 1.14% on Tuesday. DJI had already shed 1.89% last week as part of pullback that began in August. US Durable Goods Orders for August came in well above consensus. Apple partner restarts production after fire at India factory. Friday’s Personal Consumption Expenditures report for August will determine market’s view of interest rate cycle. The Dow Jones Industrial Average (DJIA) loses more ground on Wednesday. Anxiety is still top of mind with rebellious members of the US House of Representatives refusing to allow continuing spending bills to reach the floor for a vote.…