The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out of 5 PADDs. PADD2 (Midwest) alone
Powell lays the framework for tapering to begin. Fed Powell’s comment that set the timeline for the taper has push the EURUSD back down (higher dollar). In the process, the pair first fell back below the 100 hour moving average at 1.17352. Buyers turned sellers in the price has now extended more deeply to the downside The EURUSD
This is playing out according to script The Fed is playing second fiddle to China today. Whether there’s a taper in November or December doesn’t matter. We get a nod that a taper is coming this year in the statement and that’s about all the hawks could have expected. The surprise came in the dot
Following the Federal Open Market Committee’s (FOMC) decision to keep the policy rate unchanged within the target range of 0-0.25%, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is delivering his comments on the policy outlook. Key quotes “Fed has met the test for inflation goal to taper.” “Many on
Trading app Robinhood has opened up a waitlist to test a crypto wallet for users to hold their tokens. According to a Wednesday blog post, in October Robinhood plans to start testing a digital wallet feature on its app that enables users to send and receive cryptocurrencies. The move may encourage more Robinhood users to
New Delhi: Among the precious metals, silver has been underperforming consistently for sometime now. A record-breaking bull run in equities and a stronger dollar have diminished the lustre of the white metal quite a bit. Spot prices of silver were pinned around Rs 60,000 on Wednesday, before slipping to Rs 59,714 earlier this week, highlighting
Sales of previously owned homes declined 2% in August from July to a seasonally adjusted annualized rate of 5.88 million units, according to the National Association of Realtors. Sales were 1.5% lower than August 2020 for the first annual decline. Sales however are still above pre-pandemic levels. These numbers are a count of home closings
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Markets have turned quiet today as focus is shifted to FOMC policy decisions. While a tapering announcement is highly unlikely, there are still prospects of hawkish surprises in the dot plot and the economic projections. In the currency markets, Sterling is currently the worst performing one for the week, followed by Kiwi and then Aussie.
Trend line and 100 hour moving average keep a lid on the upside The AUDUSD has retraced its earlier gains. The early Asian session low reached 0.7235 area. Swing lows from the New York afternoon session also bottom near that level. The low price just reached 0.7234. So far support buyers are leaning against that low level. The low price
Modest gains in early trades German DAX futures +0.6% UK FTSE futures +0.6% Spanish IBEX futures +0.7% This follows a decent rebound in trading yesterday after the poor start to the week on Monday. The overall risk mood is keeping relatively steady for now as China jitters are placed on the sidebar with the Fed
USD/JPY faces further losses if 109.10 is cleared in the near term, commented FX Strategists at UOB Group. Key Quotes 24-hour view: “USD closed on a soft note at 109.21 (-0.16%) in NY but rebounded during early Asian hours. Waning downward momentum coupled with oversold conditions suggests limited downside risk for USD. For today, USD
NEW DELHI: Tracking global cues, gold prices were little changed in the domestic market, trading almost flat on Wednesday. Asian markets were trading cautiously amid rising uncertainties triggered by China’s Evergrande debt crisis and anticipation of policy cues from the US Federal Reserve on its timeline for reducing stimulus in the world’s largest economy. Gold
In this article SFIX The Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7. Tiffany Hagler-Geard | Bloomberg | Getty Images Stitch Fix shares jumped more than 18% in
Risk aversion seems to have eased a bit today, with recoveries seen in European markets and US futures. Yen and Dollar have both turned into sideway consolidations. But no clear support is seen in Aussie and New Zealand, as both remain under pressured. Meanwhile, Swiss Franc and Canadian Dollar are taking the lead and strengthen
The pair remained below its 100 hour moving average on the corrective move higher The EURUSD is testing a lower swing area near 1.1721 and 1.17264. The move to the downside has nearly retraced the earlier session lows which came in just below that swing area at 1.17177. The earlier move to the upside today peaked at 1.1748. The low from
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