China’s economic growth is forecast to slow amid fresh coronavirus outbreaks, denting profits for US firms. But disruptions to Chinese manufacturing could steer factory orders to Southeast Asia.US companies stand to earn less this year in China as growth slows in the world’s second largest economy. Slowing growth in the …
Read More »After A Major Step, Bitcoin Price Touches 3 Weeks High
Bitcoin rose to a three-week high as cryptocurrencies moved with major stock market indices. Bitcoin rose to $42,673, up 4.1% within the previous 24 hours.The price of the largest cryptocurrency by market value touched $43,337 earlier Tuesday, the highest point since 3 March.Bitcoin’s price is, broadly, moving in line with …
Read More »Wall Street’s Tuesday Session Generally Green.
The sell-off of US Treasuries continues, while the 10-year yield closes to 2.40%. US stocks recovered on Tuesday, following Monday’s hawkish remarks of Fed Chief Jerome Powell, who said that “inflation is too high” and opening the door for 50 basis points increases.The S&P 500 is advancing some 1.10%, sitting …
Read More »Barclays: US Dollar’s Rally Likely Nearing Its Peak
The dollar is likely to head higher in the coming months before weakening in the second half of the year as the outperformance of the US economy fades and investors’ risk appetite improves, according to Barclays Plc. While tighter monetary policy, a resilient US economy and demand for havens due …
Read More »Fed’s Daly: US has a typical recipe for inflation
San Fransisco Fed President Mary Daly said on Tuesday that the US now has policy-supported demand combined with fragile supply chains, which is a recipe for inflation. Key Quotes On Monetary Policy“It’s time to remove accommodation, marching up to neutral, looking if we need to go over neutral.”“Right now full …
Read More »Biden To Announce Additional Russia Sanctions During Europe Trip
US President Biden intends to announce a new Russia sanctions package during his visit to Europe this week, including measures to crack down on sanctions evasion, White House national security adviser Jake Sullivan said at a press briefing Tuesday.Ukrainian President Volodymyr Zelensky has pleaded with the West to impose new …
Read More »ECB Chief Christine Lagarde: Crypto Remains a Threat
Crypto service providers may be an “accomplice to” circumventing sanctions against Russia, and crypto assets have been and remain a threat, said Christine Lagarde, president of the European Central Bank (ECB).Lagarde said the amount of Russian rubles going into crypto and stablecoins have been on the rise, speaking at the …
Read More »US Stocks Extend Last Week’s Gains
US stocks rose and government-bond yields jumped Tuesday, as investors shook off concerns that rising inflation will drag the nation’s economy into a recession.Tuesday’s moves had all three US indexes up at least 2% for the month so far, building on last week’s gains. The Dow Jones Industrial Average rose …
Read More »Could Gold Price Change Its Current Course?
Gold Price gave up Monday’s gains as the market’s sentiment improved and US 10-year Treasury yields renew three-year high amid aggressive US Fed officials. Gold Price trades near a daily low of $1,910.64, pressured by the upbeat tone of Wall Street, regardless of a solid reason for such optimism. Inflation-related …
Read More »USD/CAD Climbs On Hawkish Comments By Fed Policymakers
The USD/CAD grinds higher after five days in the red territory. Fed’s Chair Powell approves 50 bps rate hikes and could happen not just once. The USD/CAD The USD/CAD snaps five days of consecutive losses amid a risk-on market mood. At the same time, oil prices ease from around $115.00, …
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