© Reuters. The Japanese yen fell sharply on Friday after the Bank of Japan (BOJ) decided to keep interest rates in negative territory at -0.1 percent. This decision came just days after the Federal Reserve signaled that U.S. borrowing costs would remain high, exerting pressure on the Japanese currency and raising the possibility of government
Share: The NZD/USD reversed its course and fell towards 0.5930, after reaching a high of 0.5985. The US Dollar strengthened on the back of rising US yields after the Fed’s hawkish pause. The Fed kept rates at 5.25-5.50% as expected. The bank reduced projections of 100 bps of rate cuts in 2024 to
Share: Arm Holdings gained 24.7% on Thursday debut. ARM stock sells off Friday after initial rally. Higher Oil prices are affecting market sentiment as inflation indicators rise this week. United Auto Workers initiates strikes at Ford, GM and Stellantis factories. Taiwan Semiconductor tells suppliers to delay equipment orders. Arm Holdings (ARM) stock is
First of all a reminder: US and Canadian cash markets will be closed today because of the Labour Day celebration, obviously resulting in diminished flows this afternoon. Going back in chronological order, APAC is led by the excellent performance of the China50 and especially Hong Kong where a surge on real estate stocks helped the
SPX weekly Closing changes: S&P 500 -0.5% DJIA -0.5% Nasdaq Comp -0.4% Russell 2000 -0.2% Toronto TSX Comp +0.5% On the week: S&P 500 -2.3% DJIA -0.5% Nasdaq Comp -2.8% Russell 2000 -1.2% Toronto TSX Comp -1.4% July was a great month for stocks but August has gotten off to a slow start. The market
Share: XAG/USD dropped to a daily low of around $23.37, but the bulls managed to push the price back to $23.60. The USD retreated following weak Services and Labour market data. Still, US Treasury yields will limit the metal’s advance. The XAG/USD silver’s spot price traded soft on Thursday but cleared daily losses.
Share: GBP/USD remains on the defensive for the third successive day, albeit lacks follow-through. The emergence of some USD dip-buying turns out to be a key factor weighing on the major. The downside seems limited as traders seem reluctant ahead of the BoE meeting on Thursday. The GBP/USD pair struggles to capitalize on
As the Fed decision looms at the top of the hour, the major indices are trading lower led by the NASDAQ index. The Dow is down marginally. A close lower today would snap its 12-day winning streak. The record is 13 straight days of gains. A snapshot market currently shows: Dow industrial average -3.28 points
