Stock futures are higher after rising rates hit tech stocks
U.S. stock index futures rose during overnight trading on Wednesday, after tech stocks dipped again as investors digest the impact from higher rates. Futures contracts tied to the Dow Jones Industrial Average gained 141 points. S&P 500 futures and Nasdaq...
Japan Poised to Swear in a New PM as GBP/JPY Approaches Key Support
FX traders seem cautiously optimistic on Kishida’s potential impact on the yen… Overnight, Japan’s Liberal Democratic Party (LDP) voted former foreign minister Fumio Kishida as its new leader, and Kishida is now expected to be sworn in as Prime Minister...
Wobbly Pound Falls to 14-Week Low
The British pound has extended its losses in the Wednesday session. GBP/USD is currently trading at 1.36485, down 0.36% on the day. Pound slides on petrol shortage The pound plunged 1.15% on Tuesday, its worst daily performance in over a...
EUR/USD Breaks Key Support as Dollar Rise Continues
Dollar is generally strong today, but buying focus is temporarily shifted from against Yen to Euro and Sterling. In particular, EUR/USD has taken out key support level at 1.1663. Overall markets are mixed though, with stocks recovering while treasury yields...
Mortgage demand falls as rates rise to highest level since July
Real estate agents arrive at a brokers tour showing a house for sale in San Rafael, California. Getty Images Higher interest rates took some recent wind out of the sails in the mortgage market. After gains the previous week, total...
Stocks making the biggest moves premarket: Micron, Eli Lilly, Netflix, Lucid and more
Check out the companies making headlines before the bell: Micron Technology (MU) – Micron reported adjusted quarterly earnings of $2.42 per share, 9 cents above estimates, with the chip maker’s revenue also topping Street forecasts. However, its current-quarter forecast fell...
NZDUSD Starts New Bearish Cycle Within Channel
NZDUSD embarked itself on a new bearish cycle after the bulls got defeated once again near the tough resistance trendline drawn from February’s four-year high of 0.7463. The 0.7000 level could not catch the fall this week, with the price...
US Dollar Index (DXY) Reaches New 2021 Highs
The US Dollar Index (DXY) had been on a nice run since early September leading into last week’s FOMC statement. Although Powell and gang appeared to be on the more hawkish side, the DXY had sold off on what seemed...
USD/CAD Likely To Break Channel Pattern
On Tuesday, the US Dollar surged by 98 pips or 0.78% against the Canadian Dollar. The currency pair tested the upper boundary of a descending channel pattern during yesterday’s trading session. Everything being equal, the exchange rate could continue to...
USD/JPY Pressing 110.6/7 as Treasury Yields Extend Rally
Dollar is currently the strongest one for the week so far, as helped by strong rally in treasury yields as well as pull back in stocks. Yen also stays week but the selling in crosses is cushioned by uncertain risk...