WTI crude oil moved up to $108 and backed off The price of WTI crude oil futures rose to near 8% on the day at session highs. Those highs moved into a swing area ahead of the recent April high (at $109.05). That swing area came between $107.86 and $108.14 (see red numbered circles and
Month: April 2022
The old adage is that stocks don’t bottom on Fridays. Of course, it’s also the final trading day of the month so that could have led to some special selling flows that could reverse on Monday as we begin May. On the day: S&P 500 -3.6% worst single day since June 2020. Lowest close since
Volatility has become the hallmark in the global markets and this might persist until the war between Russia and Ukraine subsides. Last week, crude oil lost nearly 5 per cent on demand concerns and extended additional 5 per cent losses on Monday. WTI crude oil made low of almost $96.35 and on price fell to
Dollar ended up as the strongest one last week, having the best week since 2015 and with Dollar index hitting a two-decade high. Though, the rally somewhat slowed towards the end of the week. It could be a result of month end flow or traders’ cautiousness ahead of Fed. But in any case, there is
In this article BRK.A Warren Buffett Gerry Miller | CNBC Warren Buffett’s Berkshire Hathaway reported Saturday a decline in first-quarter earnings, as the conglomerate was not immune to a slowing U.S. economy. The company’s net earnings came in at $5.46 billion, down more than 53% from $11.71 billion in the year-earlier period. Berkshire’s operating earnings
It’s been a quiet session for GBP/JPY, with the pair just above 163.00 but capped by its 21DMA. GBP/JPY still looks set to end the week lower by roughly 1.1%, as UK growth concerns outweighed the dovish BoJ. It’s been a quiet session for GBP/JPY, with the pair nudging slightly higher back above the 163.00
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NZDUSD is trading below its 50% midpoint The NZDUSD is ending the week near the lows for the week/year and lowest level since July 2020. Looking at the daily chart, the pair is also trading just below the 50% currently at 0.64655. Stay below and move lower next week and the pair will start to
As the clock ticks toward the Fed decision next Wednesday, the stocks are not taking it well. Of course, Amazon’s poor earnings after the close last night was a key catalyst today. Amazon shares are closing down over 14% on the day, and is also closing below its 200 week MA for the first time
When times are tough — as in the pandemic — enterprising human nature goes into overdrive. People seek out alternative ways to make money. That could be one of the reasons why cryptocurrencies skyrocketed in popularity in the last few years, driven in part by large numbers of people sitting at home wondering how to
NEW DELHI: Gold prices rose on Friday as economic data from the US increased the appeal of the yellow metal. However, gains were capped by a firm dollar. The American economy unexpectedly shrank in the first quarter of 2022, data from the Bureau of Economic Analysis showed Thursday. Meanwhile, US dollar traded at two-decade highs.
Dollar is paring some gains today but remains the strongest one for the week. Canadian Dollar is currently the second best. Euro is trying to recover but remains the second worst, just next to Sterling. Yen is trying to recover against Dollar too, but stays weak against European majors. Aussie and Kiwi are mixed for
In this article INTC Intel shares fell 4% in extended trading on Thursday after the chipmaker issued a lower-than-expected forecast for its fiscal second quarter. Here’s how the company did: Earnings: 87 cents per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. Revenue: $18.35 billion, vs. $18.31 billion as expected by
The USD/CHF to record the biggest monthly gain since May 2012, up 5.17%. A dampened market mood increased the appetite for the safe-haven Swissy as US dollar traders booked profits. USD/CHF Price Forecast: A daily close below 0.9700 might open the door for a mean reversion move. The USD/CHF retreats from YTD highs though clings
AUDUSD retraces the gains today The AUDUSD squeezed higher in the Asian session, and at the start of the North American session, the AUD was the strongest of the major currencies (see post earlier today) The move to the upside saw the pair move above a topside channel trendline, the 100 hour moving average (blue
Interest rates are a powerful tool and they’re on a collision course with the red hot US housing market. A year ago, Americans could get 2.9% 30-year fixed mortgages; they’re currently at 5.1%. That has the market betting that housing will cool off dramatically. Here’s the chart of XHB, the home builders’ ETF. It’s down
New Delhi: Gold in the national capital on Friday jumped Rs 605 to Rs 51,627 per 10 grams in line with rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 51,022 per 10 grams. Silver also zoomed by Rs 1,596 to Rs 65,207 per
Lots of important economic data are released today but they’re largely ignored. Inflation data from the US and Eurozone are strong. Canada’s monthly GDP growth was well above expectation while Eurozone GDP growth turned weaker in Q1. But reactions to them are mild. While the greenback is paring some recent gains, it remains the strongest
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