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The US dollar attempted to modestly recover early on Thursday but closed the day with losses against most major rivals. Lukewarm US economic data and rallying equities helped particularly safe-haven rival currencies.US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation …
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May, 2022
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27 May 2022 2:46 am
US Treasury yields settle on slower growth expectations
US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation concerns that continue to dissipate amid economic data and corporate results that point to slower economic growth.The yields on 10-year Treasury notes surge 0.9 basis points to 2.756% after falling to …
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27 May 2022 2:08 am
China’s Lockdown Spending Boosts Alibaba’s Earnings
Alibaba stock soars after earnings beat, signs of improving conditions amid another COVID-19 wave. Alibaba Group Holding Ltd.’s U.S.-listed shares climbed 14.8% in Thursday trading to record second best single-day performance after the Chinese giant beat revenue and earnings expectations for the latest quarter.E-commerce giant Alibaba Group Holding reported a …
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27 May 2022 1:18 am
Gap shares drop as amid confusing retail earnings
Gap dramatically slashed its profit outlook for 2022. Gap, on Thursday, slashed its profit guidance for the full year as it reported a decline in fiscal first-quarter sales, which were dragged down by its Old Navy business. Shares fell around 13% after hours, after closing the day up 4%.Gap swung …
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27 May 2022 12:27 am
AUD/USD Surges by 0.70%
The AUD/USD has remained positive in the week, up by 0.70%. China’s Premier Li Keqiang warned that the economy could not achieve its goals, weighing on the AUD/USD.During the Asian session, China’s Premier Li Keqiang sound the alarm about the slowing economy. He made comments to local officials in an …
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26 May 2022 11:30 pm
Oil Prices Rally On Stronger Demand
WTI crude gained more than 3% on Thursday morning. Oil prices rose early on Thursday, extending this week’s gains, as demand looks strong with the U.S. driving season starting and Shanghai in China gradually reopening after two months of strict lockdowns.On Thursday, WTI Crude prices were up 3.17% at $113.69 …
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26 May 2022 10:41 pm
EUR/USD hits fresh highs on improved risk appetite
The US dollar remained weak on Thursday, but losses are relatively limited. Meanwhile, US equities sharply rise as US T-yields are at fresh 2-day highs. The EUR/USD pair’s short-term outlook is bullish, and faces resistance at 1.0730 and 1.0750.The EUR/USD pair rose further during the American session and printed a …
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26 May 2022 9:34 pm
Silver Retracts On Rising T-Yields
Silver retraces for the second straight day on rising US Treasury yields led by the 10-year benchmark bond, which was parked around 2.750% for the last two days, but shows signs of life advancing two-basis points, a headwind for precious metals. At $21.94, XAG/USD retraces from weekly highs at around …
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26 May 2022 8:48 pm
US Economy Moving ahead, despite Q1 GDP data
A new estimate of US Q1 GDP growth revised the original contraction of 1.4% to 1.5%. According to analysts at Wells Fargo, the economy continues to plow ahead, despite the modest contraction in real GDP growth observed during the first quarter.Key Quotes: “Revised data that were released this morning showed …
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26 May 2022 8:02 pm
CAD Edged Lower On Canada’s Retail Sales Data
The Canadian dollar edged lower against its US counterpart on Thursday as a move higher in oil prices was counterbalanced by domestic data showing that retail sales growth stalled in March, but the currency stuck to its recent sideways trading pattern, so details of the released data were stronger.Canadian government …
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26 May 2022 7:21 pm
Gold holds near $1,850 ahead of US inflation data
Gold Price is holding above its 200-DMA in the $1,850 area and is back to nearly flat on the week. Traders are weighing the softer USD’s tailwinds and US yields versus strong US equities, as key Friday inflation data are looming.Gold Price (XAUUSD) is for now holding just above its …
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26 May 2022 5:02 pm
US: Q1 GDP contracts at an annualized pace of 1.5%
According to a second estimate by the US Bureau of Economic Analysis, the annualized pace of real GDP growth in Q1 2022 came in at -1.5%, below the first estimate of -1.4% and the market’s expectation for a growth rate of -1.3%, data on Thursday showed. Nonetheless, the latest GDP …
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26 May 2022 4:18 pm
Moscow blames the West for Ukraine’s grain export problems
The Kremlin on Thursday rejected accusations from the United States and the European Union that Russia was blocking grain exports from Ukraine, blaming the West for creating this situation due to the imposition of sanctions.“We do not categorically accept these accusations. On the contrary, we hold Western countries responsible for …
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