Bitcoin (BTC) continues to look for direction but as this occurred, Ether and altcoins bounced higher from the May 13 sell-off. Dogecoin shocked investors with its 47% rally that kicked off after Coinbase announced that it would list (DOGE) in the coming months. Doge price also rallied after Elon Musk tweeted that he was “Working
Stocks close near session highs The major US stock indices are close higher for the second consecutive day. Some other highlights for the day/week Week ends with 2 strong days higher after three down days to start the week S&P has best day since late March 26th All 11 sectors of the S&P close higher Dow S&P NASDAQ
Forex news for North American trading on May 14, 2021 The week is ending with the USD as the weakest of the major currencies today. The NZD was the strongest. The fall in the USD was helped by a disappointing retail sales number for April. The expectations were for a rise of 1.0% for the headline
(This story originally appeared in on May 15, 2021) Chennai: Gold buying on Akshaya Tritiya did not halt completely but took on the digital form as jewellers across major markets were shut due to Covid-induced lockdowns. Considered an auspicious occasion to buy gold, this year too, like 2020, Akshaya Tritiya was celebrated under the shadow
Year-to-date, Canadian dollar is the best performing currency against US dollar. Indeed, most of the gains has been accumulated after the April BOC meeting, at which policymakers announced QE tapering and hinted about rate hike in as soon as next year. Despite recent disappointment in macroeconomic data, we expect yield differential and crude oil price
A woman wears a face mask while shopping for a baby shower gift during the Covid-19 pandemic, at Madison’s Niche boutique in Huntington, New York on April 21, 2021. Alejandra Villa Loarca | Newsday | Getty Images There is probably less than meets the eye from the startling inflation pop in April, as goods impacted
In this article DASH Sign reading We Deliver With Doordash, referencing the Doordash food delivery service, San Ramon, California, September 12, 2020. Smith Collection/Gado | Archive Photos | Getty Images DoorDash on Thursday reported a wider-than-expected quarterly loss, blaming a short-term shortage of delivery drivers as consumer demand outstripped its forecast. But the company raised
GBP/USD Forecast: Virus variant concerns and the American shopper may push cable below 1.40 GBP/USD has been attempting recovery as markets swing back to positive ground. The danger from variants to Britain’s reopening and US consumption data could push the pair lower. Friday’s four-hour chart is showing that 1.40 is a critical separator of ranges.
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Bounce off the swing low target The USDCAD moved below the 100 hour MA at 1.21167 after the US retail sales and the better than expected wholesale sales from Canada. The next downside target at the time was at 1.20781. That was home to swing lows from May 10, May 11 and May 12 before
White House economic advisor Rouse speaking. Meanwhile White House economic advisor Rouse is also speaking and says: At moment, people view current spike in inflation as a transitory phenomenon Inflation expectations are the purview of the Federal Reserve We’ve a long way to go on economic recovery. Trade team is looking at tariffs as factor in inflation deficit finance expenditures
A tax authority in Argentina is reportedly looking to scrutinize operations involving cryptocurrencies like Bitcoin (BTC). Argentina’s Federal Administration of Public Income, or AFIP, has ordered domestic crypto exchanges and payment firms to provide monthly reports of all kinds of operations by users on their platforms, local news agency Buenos Aires Económico reports Tuesday. In
Gold extended gains on Friday, as the dollar and US Treasury yields pulled back after US retail sales unexpectedly stalled in April. Spot gold rose 0.6% to $1,837.25 per ounce by 1503 GMT, heading for second week of gains. US gold futures climbed 0.7% to $1,836.10. “After a long period of (data) beating expectations, it’s
Dollar is under selling pressure against after rather poor retail sales data. US futures also pare back some earlier gains and look vulnerable. Yen is currently following the greenback as the second weakest, while commodity currencies are the strongest, together with Euro. The question now is, whether Dollar’s decline could gather enough momentum for new
A worker on an auto assembly line in Smyrna, Tennessee. Luke Sharrett/Bloomberg/Getty Images The concentration of price pressures in a handful of categories means markets shouldn’t yet be worrying about inflation after Wednesday’s U.S. surprise, economists have told CNBC. The U.S. Consumer Price Index for April rose 4.2% from the same period last year, its
In this article ABNB Airbnb CEO Brian Chesky attends the Cannes Lions on June 20, 2016, in Cannes, France. Richard Bord | Getty Images Airbnb said revenue increased 5% in the first quarter, beating analysts’ estimates, as the rapid pace of vaccinations led to more travel. The company’s net loss tripled because of debt repayments and restructuring