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The dollar fell on Monday, losing some of the gains it made on the back of strong US employment data released on Friday as currency markets reversed their initial reaction. The higher-than-expected US employment data last week boosted the dollar’s strength against the major currencies. Traders saw the data as …
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August, 2022
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8 August 2022 1:09 pm
Chinese exports to Russia rose for the first time in 5 months in July
Official customs data showed that Chinese exports to Russia rose significantly in July after a 4-month decline. Reuters calculations based on customs data indicated that exports to sanctioned Russia rose 22.2 percent in July from the previous year in dollar terms, reversing a 17 percent decline in June, the first …
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8 August 2022 12:21 pm
Nikkei closes at a 4-month high, amid strong expectations for companies
The Japanese Nikkei index closed at its highest level in more than four months on Monday, as investors flocked to stocks of companies that announced strong expectations, while caution ahead of the US consumer price report limited gains. The Nikkei rose 0.26 percent to 28,249.24 points, its highest close since …
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8 August 2022 11:53 am
The price of gold fell after strong US data reinforced the prospects rate hike
Gold prices fell on Monday after strong US jobs data last week boosted the possibility that the Federal Reserve will raise interest rates significantly, sending dollar and Treasury yields higher. And the price of gold in spot transactions 0.1 percent to 1771.74 dollars an ounce (an ounce) at 0454 GMT, …
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8 August 2022 5:32 am
Financial Markets’ Weekly Recap, Aug 1-5
The robust set of job market data seemed to have cleared much concern over the US recession and set the tone for the financial markets. Benchmark treasury yields jumped as traders added bets on Fed continuing with the current pace of tightening beyond neutral. However, despite that, stock markets were …
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6 August 2022 2:45 am
Market Drivers – US Session – Friday, August 5
Gold price maintained defensive stance late during the New York session after an early US employment report showed that the Fed is right about pushing back on recession chatter. Gold is trading at $1773.33, down by almost 1%.Before Wall Street opened, the US Bureau of Labour Statistics revealed that the …
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6 August 2022 2:26 am
Oil Faces Biggest Weekly Loss Since April
The price of crude oil rose on Friday, balking at the July U.S. jobs report, which suggested that the Federal Reserve could tighten further and limit the demand for crude oil. WTI rose to $90.69 per barrel on Friday at 11:22 a.m. ET, up $1.20 (+2.43%) on the day. Crude …
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6 August 2022 1:51 am
US weekly rig count retreats
The US drilling rig count is down 3 units to 764 rigs working for the week ended August 5, according to Baker Hughes data. The count is up 273 units from the 491 rigs working this time a year ago.At 746 rigs working, the land rig count is unchanged from …
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6 August 2022 1:17 am
EUR/USD declines to familiar levels
The EUR/USD pair has snapped two straight weeks of gains, and now drops 0.42%. The common currency is trendless, within the boundaries of 1.0096-1.0278.From a daily chart perspective, the EUR/USD might probe the 1.0096 low before a re-test of YTD lows below the parity level. The EUR/USD slumps late as …
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6 August 2022 12:26 am
Lyft Achieves Record Earnings, Faces Inflationary Headwinds
Lyft Achieves Record Earnings Lyft’ adjusted earnings hit $79 million in the second quarter. The Company sees “material improvement” in driver shortage. Lyft shares jumped as much as 8.6% Friday and is on track for its best week in nearly two years on after reporting the highest earnings in its …
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5 August 2022 11:26 pm
Why do nervous central bankers closely watch RBA?
In its latest meeting, the Reserve Bank of Australia hiked the key interest rate by 50 basis points to 1.85%. According to analysts, the RBA will likely raise again in September but with a 25 bps rate hike. They see the rate peak at 3.10% by early next year.August’s announcement …
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5 August 2022 10:29 pm
GBP/USD drops on robust US NFP, US inflation eyed
The GBP/USD pair prepares to finish the week with hefty losses of 0.78%. US labour data poured cold water on recession fears ahead of next week’s CPI. The GBP/USD tanks reached a fresh weekly low at 1.2002 as a reaction to a stellar US employment report which eases US recession …
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5 August 2022 9:33 pm
NFP supports FOMC’s confidence to continue aggressive policy
The July US official employment report showed better-than-expected numbers and triggered a rally of the US dollar on Friday. According to analysts, at least a 50 bps rate hike at the September 20-21 FOMC meeting seems on the table at this point of time, and yet another 75 bps hike …
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