ECB Downplayed Urgency of Rate Hike to Tame Inflation
ECB’s meeting came in largely as we had anticipated. Policymakers acknowledged the stronger-than-expected inflation but downplayed the need to push forward rate hike. All monetary policy measures remained intact with the main refi rate, the marginal lending rate and the...
Economic growth rate slows to 2% on a sharp slowdown in consumer spending
The U.S. economy grew at a 2% rate in the third quarter, its slowest gain of the pandemic-era recovery, as supply chain issues and a marked deceleration in consumer spending stunted the expansion, the Commerce Department reported Thursday. Gross domestic...
Euro Edges Higher after ECB Meeting
The euro is showing little movement after the ECB policy meeting. Currently, EUR/USD is trading at 1.1634, up 0.27% on the day. ECB policy meeting a non-event Many central banks are currently in a tightening cycle, notably the Federal Reserve...
Euro Mildly Higher after ECB, Dollar Dips Slightly on GDP Miss
Major pairs and crosses are stuck inside yesterday’s range so far, as consolidative trading continues. Euro appears to be lifted slightly by ECB’s press conference but there is no follow through buying. Dollar also looks just a touch weaker after...
Alchemy, the start-up powering Adobe’s NFT effort, sees valuation skyrocket as digital collectibles go mainstream
Alchemy co-founders Nikil Viswanathan (left) and Joe Lau. Source: Alchemy Start-up Alchemy is benefiting as more companies try to future-proof their businesses by adapting their technologies to the blockchain and through digital collectibles. The San Francisco-based company announced a $250...
EURJPY Points To More Losses Ahead Of ECB Policy Meeting
EURJPY entered a downhill race following the peak at a four-month high of 133.47 in the four-hour chart, correcting below its shorter-term simple moving averages (SMA) and more recently below the Ichimoku cloud, which kept the bears under control on...
WTI Oil Outlook: Oil Risks Deeper Pullback On Surprise Build Of Inventories
The WTI oil extends weakness on Thursday and hit two-week low, following Wednesday’s 2.8% drop (the biggest one-day loss since Aug 4). Oil prices came under increased pressure on surprise rise of US crude inventories last week (4.26 mln bls...
USD/CAD Breaks Channel Pattern
Downside risks dominated the USD/CAD currency pair on Wednesday. As a result, the US Dollar fell by 114 pips or 0.92% against the Canadian Dollar during Wednesday’s trading session. Given that a breakout has occurred, bears could continue to drive...
Markets Staying in Consolidation after BoC and BoJ, ECB Next
Consolidative trading continues in the forex markets in general. Canadian Dollar spiked higher after more hawkish than expected BoC overnight, but there was no follow through buying. BoJ’s decision to stand pat triggered little reactions. Expectation of an earlier RBA...
Stock futures rise slightly after S&P 500 slips from a record
Stock futures edged higher in overnight trading on Wednesday after the S&P 500 and the Dow Jones Industrial Average slipped from their record highs. Dow futures rose 50 points. S&P 500 futures and Nasdaq 100 futures both traded 0.1% higher....
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