In what will be a long rd to membership, Ukraine has won its candidate status in a bid to gain EU membership.EU leaders have accepted both Ukraine and Moldova as membership candidates of the European Union, European Council President Charles Michel said on Thursday evening.“Agreement. #EUCO has just decided EU …
Read More »CAD drops as hot inflation triggers criticism against BoC
The Bank of Canada has been slammed by critics after misjudging inflation and locking itself into rigid forward guidance that prevented it from reacting swiftly as prices surged and Canada’s economy began to overheat.THE Canadian dollar dips 0.1% against the US dollar. Flash estimate shows factory sales falling 2.5% in …
Read More »USD/CHF Drops On Stronger Franc
The Swiss franc extends its weekly gains to almost 1%, as shown by the USD/CHF falling from weekly highs above 0.9700. Through the New York session as risk aversion pushed equities to negative territory and gave a fresh impulse to safe-haven assets, boosting the CHF.The USD/CHF extends to four, its …
Read More »US Equities Open With Gains On Powell’s Remarks
US stocks indices recover some ground after registering minimal losses on Wednesday. The S&P Global PMIs indices missed expectations, dragging equities lower.US equities opened in the green territory as Wall Street began within familiar ranges, though S&P Global PMIs where the three indices missed expectations, stocks seesawed and pullback from …
Read More »Fed’s Bowman: Another 75 bps rate hike will be appropriate in July
Fed Governor Michelle Bowman said on Thursday another 75 basis points (bps) rate increase in July and at least 50 bps of hikes at the next few meetings would be appropriate. The US Dollar Index showed no immediate reaction to these comments and was last seen posting small daily gains …
Read More »Powell: Big part of inflation won’t be affected by our tools
For the second day, FOMC Chair Jerome Powell is testifying before the House Financial Services Committee on “Monetary Policy and the State of the Economy”. The US Dollar Index edged higher after these comments and was last seen rising 0.2% on the day at 104.38.Key Remarks“Our tools affect inflation, not …
Read More »Is Bitcoin Price Able To Rebound?
This morning, Bitcoin price, Ethereum and other cryptocurrencies look to be deviating from global markets after the third recession warning on Wednesday. With commodities still facing selloffs on Thursday and stock markets maintaining mixed performance, cryptocurrencies look to break the trend and shed the weight of the correlation with global …
Read More »Market Drivers – US Session – Wednesday, June 22
Gold advanced at the beginning of the day but once again met sellers around the $1,850 area and finished the day at around $1,838 a troy ounce. Crude oil prices remained at the lower end of their weekly range, with WTI settling at $105.50 a barrel.The US dollar finished lower …
Read More »Trevor Lawrence refutes the story of losing $15 million in crypto
As cryptocurrency prices have lately retreated, there has been increased scrutiny on several athletes who have bragged about getting paid in cryptocurrency, and how much money those athletes have lost. A viral story has claimed that Jaguars quarterback Trevor Lawrence lost $15 million after taking his entire $24 million signing …
Read More »June’s US jobs data will likely climb
An early look at the state of the U.S. job market in June from payroll provider UKG suggests some strengthening, even as the Federal Reserve lifts interest rates sharply and economists raise alarms over the likelihood of a recession,” said Reuters late Wednesday.The news fails to gain any major reaction …
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