Losing -1.8% month-to-date, CNY has erased much of the gain made against USD since the beginning of the year. While the broadly based USD rally after the June FOMC meeting is the major driver, PBOC’s intervention has also prevented the renminbi from having meaningful gains. In April and May, CNY appreciated about +2.8% against USD.
If you’ve applied for a job lately, it’s all but guaranteed that your application was reviewed by software—in most cases, before a human ever laid eyes on it. In this episode, the first in a four-part investigation into automated hiring practices, we speak with the CEOs of ZipRecruiter and CareerBuilder, and one of the architects
Yen dropped notably overnight and stays pressured in Asian session with markets back in risk-on mode. NASDAQ closed at new record high while DOW and S&P 500 also gained. Major Asian indexes follow with solid gains in Hong Kong. Dollar also extended this week’s retreat but losses are so far limited. Meanwhile, commodity currencies are
NEW DELHI: Gold prices gained on Wednesday after US Federal Reserve Chair Jerome Powell promised not to raise interest rates too quickly based only on the fear of coming inflation. The yellow metal pared losses in domestic markets as well. Powell on Tuesday reaffirmed the US central bank’s intent to encourage a “broad and inclusive”
MELBOURNE: Oil prices rose on Wednesday after industry data showed US crude inventories fell more than expected, reinforcing views of a tightening supply-demand balance with road and air travel picking up in Europe and North America. US West Texas Intermediate (WTI) crude futures jumped 33 cents, or 0.5%, to $73.18 a barrel at 0217 GMT,
Gold bulls seeking a deeper correction of the bearish daily impulse. US dollar is on the backfoot as Fed’s Powell fails to spur up further demand. Update: Gold price is posting small gains so far this Wednesday, looking to recover ground above the $1780 level. Gold price ignores the rebound in the US dollar across
NIO shares drop on Monday despite gains for equity indices. NIO still trending nicely holding short term moving averages. NIO possibly hurt as sector leader Tesla falls on Bitcoin woes. NIO continues its impressive run of form shown since bottoming out in the middle of May. NIO and most Chinese electric vehicle manufacturers have been
prices are likely to keep rising toward $100 a barrel while a cool-off in commodity prices won’t last, leaders of key firms said at the Qatar Economic Forum on Tuesday. The head of Royal Dutch Shell Plc said governments will need to help companies cut customer emissions. Earlier, one of Deutsche Bank AG’s top shareholders
Federal Reserve Chairman Jerome Powell acknowledged Tuesday that some inflation pressures are stronger and more persistent than he had anticipated, though still not on par with some of the worst episodes the U.S. has seen historically. Under questioning from a special House panel, the central bank leader continued to attribute most of the recent inflation
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Senior executives at a French spyware firm have been indicted for the company’s sale of surveillance software to authoritarian regimes in Libya and Egypt that resulted in the torture and disappearance of dissidents. While high-tech surveillance is a multibillion-dollar industry worldwide, it is rare for companies or individuals to face legal consequences for selling such
The news: China’s intensifying crackdown has sent cryptocurrency prices tumbling. China has been upping its regulatory squeeze on cryptocurrencies for some time, but it now looks likely that over 90% of Bitcoin mining capacity in the country will shut down, according to a report in the Global Times, which is published by the Chinese state.
USD/JPY continues to push higher after closing above 110.00 on Monday. US Dollar Index fluctuates around 92.00 on Tuesday. Eyes on FOMC Chairman Jerome Powell’s testimony at 1800 GMT. After staying relatively quiet in a tight range above 100.00 during the first half of the day on Tuesday, the USD/JPY pair gained traction and reached
Sales of existing homes dropped for the fourth straight month due to a very low supply of homes on the market. Existing home sales fell 0.9% in May from the previous month to a seasonally adjusted annualized rate of 5.8 million units, according to the National Association of Realtors. That is the fourth straight month
100 hour MA and 100 day MA (held yesterday) are the next upside targets The GBPUSD fell to a new cycle low (and the lowest level since April 16) yesterday. However, the move could only take out Fridays low by a few pips and the price spent the London and New York session moving to the upside. The move
The USD is stronger but major pairs are fairly scrunched together ahead of Powell As the North American session begins the NZD is the strongest and the GBP is the weakest. The USD is mostly stronger with modest gains of 0.15% to 0.22% vs all the majors with the exception of the NZD (down -0.01%).
Trading in the forex markets is rather subdued today, as in other financial markets. Dollar continues to consolidate recent rise while European stocks and US futures are treading water. Focus turns to Fed Chair Jerome Powell’s testimony for fresh inspirations. . Sterling bulls hesitated in early part of European session, but quickly regained grounds. The