An article of the Wall Street Journal mentioned that a Federal Judge threw out a pair of subpoenas that the Justice Department issued to the Federal Reserve Chair Jerome Powell.The US District Judge James Boasberg, in a decision unsealed Friday, … [Continue reading]
Gold price heads for weekly loss as DXY surges above 100.00
Gold price loses some 0.70% on Friday. It seems poised to end the week with losses of more than 2% as the Greenback remains the choice for safety amid the Middle East conflict, which has increased investors' angst over a reacceleration of inflation. … [Continue reading]
Trader loses $50 million in slippage incident on Aave, sparking debate over DeFi safeguards
A massive trade on the decentralized finance (DeFi) lending protocol Aave (AAVE) has triggered debate across the crypto industry after a user lost nearly $50 million in a single transaction due to extreme slippage.An anonymous trader attempted to … [Continue reading]
United States CFTC Gold NC Net Positions climbed from previous $160.1K to $163.1K
EUR/USD stays under marked downside pressure, falling for a fourth consecutive session and slipping back to the 1.1430 area, fresh yearly lows. At the same time, the US Dollar continues to advance to fresh highs as investors remain cautious amid the … [Continue reading]
Asian FX: Energy shock risks weigh on outlook – MUFG
MUFG analysts Lin Li, Michael Wan, Lloyd Chan and Khang Sek Lee highlight that Asian currencies and rates are vulnerable as the Iran conflict threatens Oil supply via the Strait of Hormuz. They stress Asia’s heavy dependence on Middle East energy … [Continue reading]
United States Michigan Consumer Sentiment Index registered at 55.5 above expectations (55) in March
EUR/USD keeps the offered stance well in place, down for the fourth consecutive day and trading near 1.1470 following the release of US PCE data. The US Dollar, in the meantime, trades in fresh highs as investors remain cautious in light of unabated … [Continue reading]
Canada Unemployment Rate set to rise in February, challenging BoC policy path
Statistics Canada will release its Labour Force Survey on Friday, and market participants expect a modest uptick in job creation in February, with the Employment Change foreseen at 10K following the -24.8K in the previous month. At the same time, the … [Continue reading]
USD/CHF advances to 0.7870, eyes monthly top as inflation worries lift USD ahead of US PCE
The USD/CHF pair prolongs its uptrend for the fourth straight day and climbs to the 0.7870 region, back closer to the monthly peak during the Asian session on Friday. Spot prices remain on track to register gains for the second consecutive week as … [Continue reading]
WTI climbs above $95.50 as Iran says the Strait of Hormuz must remain closed
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $95.75 during the early Asian trading hours on Friday. The WTI price surges due to the effective closure of the Strait of Hormuz amid conflict … [Continue reading]
Israel Prime Minister Netanyahu: We are changing the Middle East
Israeli Prime Minister Benjamin Netanyahu held his first press conference on Thursday since the war with Iran started and said that they are aiming to stop Iran from moving nuclear and ballistic projects underground, and changing the Middle East.We … [Continue reading]