There is growing concern over a surge in ads promoting crypto assets, which are unregulated in the UK, and the potential for naive investors to lose money.The British government has unveiled plans to crack down on misleading cryptocurrency ads by making them subject to the same regulations as marketing for …
Read More »USD/CAD Impacted By Higher Oil Prices, Hawkish BoC
USD/CAD has had a passive session on Tuesday, with the pair dropping back to trading just above its 200-day moving average at the 1.2500 level after briefly surpassing the 1.2550 mark midway through US trade. Surging crude oil prices that saw front-month WTI futures hit multi-year highs near the $86.00 …
Read More »Most Important Question Marks About FOMC’s January Meeting
The Federal Open Market Committee meets for the first time in 2022 on 25-26 January. FOMC meeting comes at a critical time as far as US inflation is concerned.With headline consumer price index reaching 7% year-over-year; reflecting increases in a wide range of major categories, and unemployment moving below 4%, …
Read More »Wall Street Stock Selloff Gathers Pace as T-Yields Climb
US stocks fell across the board and Treasury yields surged amid a ramp-up in speculation that central banks will have to boost interest rates sooner than earlier anticipated.All but one of the 11 industry groups in the S&P 500 fell, while the Dow Jones Industrial Average dropped to the lowest …
Read More »Commodities Giant Glencore Hits Decade High on Price Boom
Shares of the mining and trading giant hit highest since 2012 as demand prospects fuel talk of years-long commodity super-cycle.Commodities giant Glencore Plc hit the highest in almost a decade, driven by rallies in everything from metals to coal and optimism for a years-long super-cycle.The world’s biggest commodity trader surpassed …
Read More »ECB’s Villeroy: France’s Inflation Should Fall Back Under 2.0% By End Of 2022
France central bank Chair and ECB governing council member François Villeroy de Galhau reiterated on Tuesday that French inflation is likely to fall back under 2.0% by the end of 2022. However, should inflationary pressures prove more persistent, he added, he has no doubt that the ECB would adapt its …
Read More »WTI Eases Back To $85.00 Level
After hitting multi-year highs near the $86.00 per barrel level, WTI has since backed off to trade around $85.00. Market commentators have attributed rising geopolitical tensions in the Middle East as behind the latest push higher.After hitting multi-year highs early on during the European trading session near the $86.00 per …
Read More »Homebuilder Confidence Drops Under Inflation Pressure
Builder confidence fell one point to 83 in January, according to the National Association of Home Builders.Of the index’s three components, current sales conditions was unchanged at 90. Sales expectations in the next six months fell 2 points to 83, and buyer traffic fell 2 points to 69. The average …
Read More »Gold Upset By Soaring US Treasury Yields
US Treasury yields jumped overnight with the interest-rate sensitive 2-year printing a fresh 23-month high of 1.05%, while the benchmark 10-yearhit 1.83%, a level last seen in January 2020. Market expectations that the Federal Reserve will hike rates four times this year, by 25bps each time, and that the central …
Read More »US Stocks Fall As Bond Yields Surge
Wall Street is off to another day in the red territory at the start of the shortened trading week as investors are grappling with earnings seasons and rising Treasury bond yields.All three major indexes opened lower, with the Dow down 400 points, or 1.1%. The broader S&P 500 dropped 1%, …
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