Natural Gas Goes Nuclear, Russia Rides to the Rescue…But is it Enough?
Today brought a modicum of good news for energy-strapped European nations: Russia has offered to increase natural gas exports to the continent, potentially to record highs… For those across Europe (and much of the world), the economic and market story...
Companies hired at a brisk pace in September despite fears about Covid and the economy, ADP says
Companies shook off worries over the Covid delta variant and hired at a faster-than-expected pace in September, according to a report Wednesday from payroll processing firm ADP. Private jobs rose by 568,000 for the month, better than the Dow Jones...
Dollar Stronger on ADP, Falling Stocks and Rising Yields, Euro Tumbles
The markets are back on risk-off mode again today, while major global treasury yields trade higher. Stronger than expected ADP job data provides little support to over sentiment. Yen is leading the way higher, followed by Dollar and Swiss Franc....
Stocks making the biggest moves premarket: Constellation Brands, Palantir, Norwegian Cruise and others
Check out the companies making headlines before the bell: Constellation Brands (STZ) – The maker of beer and wine reported adjusted quarterly earnings of $2.38 per share, missing the $2.77 consensus estimate, although revenue did beat Wall Street forecasts and...
Roaring Dollar Turns To Nonfarm Payrolls
The US employment report for September will hit the markets at 12:30 GMT Friday. It will single-handedly decide whether the Fed pushes the taper button next month. As for the dollar, it has sliced through its rivals lately as investors...
As mortgage rates shoot even higher, refinance demand plummets 10%
A sharp jump in mortgage interest rates over the past few weeks is taking its toll on mortgage demand. Total application volume fell nearly 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted...
NZDUSD Gains Non-Existent Despite 25bps Rate Hike
NZDUSD appears to have failed to capitalise on the 25bps rate hike to 0.50% out of the Reserve Bank of New Zealand (RBNZ), which was delivered in the Asian trading session. The pair is dropping towards the 0.6875 level, that...
GBP/USD Outlook: Risk Aversion And UK Data Miss Push Sterling Lower After Four-Day Rally
Fresh risk aversion, combined with weaker than expected UK data, pushed sterling nearly 0.5% down in European trading on Wednesday. Strong rebound in past four days lost steam at initial barrier at 1.3641 (Aug 20 low) and ahead of 1.3662...
RBNZ Hiked Policy Rate for First Time in 7 Years
For the first time in 7 years, the RBNZ increased the OCR by +25 bps to 0.5% in October. Policymakers pledged to tighten further in coming months as inflation pressure continues to exceed target. Policymakers remained hopeful about the economic...
USD/CAD Fails To Break 1.2560 Level
On Tuesday, the US Dollar edged lower by 65 pips or 0.51% against the Canadian Dollar. The decline was stopped by the support level at 1.2560 during Tuesday’s trading session. Given that the exchange rate fails to break the support...