AI trade jitters spark tech sell-off as Dow Jones leads gains United States (US) stocks closed sharply lower on Friday, with Broadcom tumbling in the wake of Oracle’s post-earnings sell-off, dragging the broader artificial intelligence (AI) complex with it. The move accelerated a rotation out of technology names into cyclicals and defensives. For the week, […]
Silver (XAG/USD) attracts fresh buyers at the start of a new week and reverses a part of Friday’s retracement slide from the all-time peak, around the $64.65 region. The white metal trades above mid-$62.00s during the Asian session, up 1.25% for the day, and seems poised to prolong its recent well-established uptrend. From a technical
Industrial production in China was up 4.8 percent on year in November, the National Bureau of Statistics said on Monday. That was shy of expectations for an increase of 5.0 percent and down from 4.9 percent in October. The bureau also said that retail sales rose an annual 1.3 percent, well shy of forecasts for
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The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate,
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The Bank of Japan will on Monday release its quarterly Tankan Survey for business sentiment, highlighting a modest day for Asia-Pacific economic activity. In the previous three months, the large manufacturing index had a score of +14 with an outlook of +12, while large industry capital spending was up 12.5 percent. The large non-manufacturing index
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It’s a very active session on the event calendar, notably: Bank of Japan Tankan Economic activity data from China for November, including industrial production, retail sales, the unemployment rate a senior Reserve Bank of Australia official is speaking You can see in the screenshot below what is expected for the releases. Taking what I have
Dollar ended last week broadly lower, outperforming only the even more beleaguered Yen. That said, the technical deterioration in Dollar is still measured rather than decisive. For now, Dollar’s selling momentum reflects hesitation more than capitulation. Two key forces are shaping this fragile balance. The first is indecisive risk sentiment, which remains unsettled rather than
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The currency markets finished the week on a mixed note. While the US Dollar found support against risk-sensitive currencies like the Australian and New Zealand Dollars—mirroring the sell-off in the Nasdaq—it struggled to gain ground against the Euro and Canadian Dollar. The greenback’s performance reflects a market caught between “safe-haven” flows and specific regional strength.
Log in to today’s North American session Market wrap for December 12 When you thought things were going to be straightforward at least until NFP, you were wrong. Fed speak can have immense effects after Rate Decisions, as seen with today’s action. Austan Goolsbee and Jeffrey Schmid, the two dissenters from Wednesday’s decision, expressed their
Eurozone CFTC EUR NC Net Positions up to €990K from previous €91.8K Source link
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With the Dow industrial average down -0.47%, the S&P down -1.36% and the NASDAQ index down -2.0%, the European declines today are modest. The UK’s FTSE 100 led the declines, likely weighed down by earlier reports that the UK economy unexpectedly shrank in October. A snapshot of the closing levels shows the: European Market Close
The Pound Sterling (GBP) trades slightly lower but retains most of its weekly gains as UK data show mixed industrial performance and a wider trade deficit. Attention now shifts to next week’s jobs, CPI, and the Bank of England meeting, with markets closely watching guidance on future easing, Scotiabank’s Chief FX Strategists Shaun Osborne and
