Author: FX
Share: USD/INR remains sidelined after snapping three-day downtrend the previous day. IMF expects India to lead global growth numbers, softer CPI appears already priced in. Downbeat US inflation numbers, unimpressive Fed Minutes weigh on US Dollar. Risk catalysts, more inflation clues eyed for clear directions. USD/INR remains indecisive around 81.90 during early Thursday, following its first daily fall in four the previous day. In doing so, the Indian Rupee (INR) pair traces the broad market moves amid a light calendar and mixed macros. The USD/INR pair’s fall on Wednesday could be linked to the downbeat US data and…
The U.S. dollar index (DXY) is not making new monthly lows despite signs of less tightening from the Fed! In case you missed yesterday’s headlines, you should know that the highly-anticipated U.S. CPI report showed the headline inflation slowing down from 6.0% to 5.0% y/y in March. Meanwhile, the release of the FOMC’s latest meeting minutes confirmed speculations that the recent banking crisis has made at least a few Fed members think twice about their plans to aggressively tighten their monetary policies to rein in inflation. So, if inflation is slowing and the Fed isn’t as hawkish as it was…
Australian Dollar, AUD/USD, US Dollar, Unemployment, US CPI, Fed – Talking PointsThe Australian Dollar nudged higher again after robust jobs numbersThe US Dollar story continues to dominate after CPI and Fed minutesThe RBA might be in a battle to rein in inflation with a very tight labour market Recommended by Daniel McCarthy Get Your Free AUD Forecast The Australian Dollar jumped again after jobs data revealed a persistently tight labour market, something that could keep inflation higher for longer.The unemployment rate remained low at 3.5% in March against the 3.6% anticipated and 3.5% prior. 53.0k Australian jobs were added in…
jxfzsy/iStock via Getty Images US GoldMining (NYSEMKT:USGO), a spin-out of Canada’s GoldMining (NYSE:GLDG), has updated terms for a proposed $20M initial public offering, which is expected to occur later this week. The Alaska-based mining company plans to offer 2M units priced at $10 per unit. Each unit would consist of one share plus one warrant to buy one share for $13. The company intends to list its shares on Nasdaq under the symbol USGO. H.C. Wainwright and BMO Capital Markets are serving as joint bookrunners, according to the filing. US GoldMining was established by GoldMining February 2022 to focus on…
© Reuters. FILE PHOTO: Representation of Ethereum, with its native cryptocurrency ether, is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration By Tom Wilson (Reuters) -The software that underpins the second-biggest crypto coin ether was upgraded on Wednesday and is online, cryptocurrency exchange Binance said in a tweet. The move will give investors access to more than $30 billion of the digital tokens. Known as Shapella, the latest upgrade to the blockchain since its Merge upgrade will enable investors to redeem an offshoot of ether tokens that they have deposited in return for interest on the blockchain network…
UBS comments on gold, the TL DR version is analysts at the bank forecast:$2100 by the end of 2023$2200 by March of 2024 warn of near-term volatilityUBS cite:Gold tends to rise in periods when the US Dollar is weakeningDownside risks to the USD have risen alongside pricing of FOMC rate cutsin the near term, prices are likely to remain sensitive to shifts in investor risk sentiment and interest rate expectationsrally for gold has further to run in the quarters ahead: 1. further safe-haven flows are likely as uncertainty about the economic growth outlook continues; 2. the US Dollar looks set…
Share: FOMC minutes, US CPI events are weighing on the US Dollar. US Dollar bears are in the market and eye a break of temporary support. Bulls look for commitments for a correction from support. At 101.469 DXY, the US Dollar is being pressured on Wednesday following the Consumer Price Index (CPI) that increased in March at a slower-than-expected pace and minute from the FOMC´s March 21-22 meeting whereby the rate hike was widely viewed as dovish. DXY has dropped from a high of 102.15 to a low of 101.449 on the day so far. The FOMC minutes showed that the staff at…
Funtay/iStock via Getty Images Kaiser Aluminum (NASDAQ:KALU) -5.1% in Wednesday’s trading as Wolfe Research downgraded the stock to Underperform from Peer Perform with a $67 price target, citing “less confidence of end market resilience into a downturn.” Kaiser (KALU) shares trade at a premium multiple despite “stretched debt metrics” and the downside risk to the company’s non-aerospace end markets. Also, Fitch Ratings downgraded Kaiser’s (KALU) long-term issuer default rating to BB- from BB with a stable outlook, citing sustained pressures on the company’s EBITDA margins. Wolfe also downgraded Arconic (NYSE:ARNC) to Peer Perform from Outperform with a $29 price target,…
BANK OF CANADA DECISION KEY POINTS:Bank of Canada holds interest rates unchanged at 4.5%, in line with expectationsPolicy statement reiterates that the central bank is prepared to hike rates again if neededUSD/CAD whiplashes, but heads slightly lower after the announcement crosses the wire Recommended by Diego Colman Get Your Free USD Forecast Most Read: USD Breaking News – US Dollar on Offer After Mixed CPI ReportThe Bank of Canada concluded its April monetary policy meeting this morning, voting to leave its overnight interest rate unchanged at 4.50% for the second consecutive reunion – a decision that was broadly in line…
In the US debt market, yields are lower but off their lowest levels after the US CPI report:The US treasury will auction off 10 year notes at 1 PM ET (actually nine year 10 month notes as a re-open the older issue). Tomorrow the treasury will auction off the equivalent 30 year bonds (29 year and 10 month).In the forex, the AUD is the strongest and the USD is the weakest (at 9:45 AM ET). The strongest to the weakest of the major currencies Source link