The Options on Secured Overnight Financing Rate (SOFR) futures market is currently signaling a higher likelihood of the Federal Reserve implementing a quarter-percentage-point interest rate hike in the coming year. This projection is primarily driven by the sustained resilience in U.S. inflation and the labor market. Investors closely monitor SOFR futures, along with other leading
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The USD/JPY has recently hit a key long-term resistance level of 159.60, signaling a potential shift in market dynamics. The swift upmove in the Asian session has led to increased volatility, which in turn raises the risk of FX intervention. Abrupt intraday movements, such as the one that wiped out earlier gains, are often seen
Silver prices (XAG/USD) have shown an upward trend on Monday, with the price of Silver trading at $27.39 per troy ounce, reflecting a 0.64% increase from the previous Friday. This increase marks a 7.54% rise since the beginning of the year. Additionally, the Gold/Silver ratio, which indicates the number of troy ounces of Silver needed
Currency markets were thrown into chaos as Japan’s currency surged against the dollar after hitting fresh 34-year lows. Traders cited heavy dollar-selling intervention by Japanese banks as the reason behind the dramatic move. This intervention, the first of its kind in 18 months, led to the yen strengthening by as much as 5 yen against
The recent sharp reversal of the yen from its slide past 160 per dollar has left European and global traders waking up to a nervy currency market. Speculation on Tokyo’s potential involvement in this sudden exchange rate movement has caused uncertainty among market participants. The jump in the yen to 156.55 per dollar, just hours
Local Chinese authorities have recently lifted restrictions on Tesla cars following the approval of the company’s China-made vehicles meeting the country’s data security regulations. This significant achievement came after Tesla CEO Elon Musk’s unexpected meeting with Chinese Premier Li Qiang during the auto show in Beijing, making it the first major gathering of its kind
Economists are anticipating an increase in the Index from -14.4 to -11.0 in the month of April. This positive change in the index could potentially boost confidence in the US economy and steer it away from a looming recession. Despite this, the projected numbers are not expected to have a significant impact on the Federal
The EUR/USD pair is trading around 1.0710 in the early Asian trading hours on Monday, gaining ground against the USD. The softer US Dollar below the 106.00 mark is providing support to the major pair. This comes as the US PCE inflation rose by 2.7% YoY in March, compared to 2.5% prior, exceeding expectations. The
The EUR/USD pair has recently seen a recovery wave from the 1.0600 zone, signaling a possible bullish trend. A key bullish trend line has formed with support at 1.0680, indicating potential for further upward movement. While the pair faced resistance at 1.0740, there is optimism for a clear break above the 1.0775 zone which could
May kicks off with the Federal Open Market Committee (FOMC) meeting, which is expected to be a significant event in the financial markets. The consensus is that there will be no change in the Fed funds target range, keeping it at 5.25%-5.50% for the sixth consecutive meeting. This decision is largely influenced by the fact
Tech billionaire turned philanthropist Bill Gates has warned that success in the fight to wipe out polio is not guaranteed, despite significant progress made in recent years. Gates, whose foundation has poured billions into the effort, emphasized the importance of not becoming complacent in tackling the deadly viral disease. Most recently, Saudi Arabia pledged $500
The Bank of Japan held a monetary policy meeting in March, and the minutes from this meeting are expected to be released on May 2nd. These discussions may shed light on the conditions required for an interest rate hike, which could have a significant impact on investor sentiment. Despite leaving monetary policy unchanged on April