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Nvidia earnings smash, but market sends mixed signal
Wall Street held its breath heading into Nvidia’s Q2 release, and the chip giant didn’t disappoint on paper.
GBP/USD retreats towards 1.3500 as US GDP growth outpaces expectations
The British Pound (GBP) eases against the US Dollar (USD) on Thursday, trimming all of its earlier gains after climbing to a session high of 1.3526.
EUR/USD steady despite strong US GDP as Greenback stays under pressure
The Euro (EUR) holds firm against the US Dollar (USD) on Thursday,as the latest batch of US economic data failed to shift the broader bearish tone surrounding the Greenback. The pair briefly climbed to an intraday high of 1.1687 before easing to trade near 1.1666 at the time of writing.
Russia Central Bank Reserves $ declined to $682.8B from previous $686.5B
Russia Central Bank Reserves $ declined to $682.8B from previous $686.5B
US: Initial Jobless Claims dropped to 229K last week
According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance fell to 229K for the week ending August 23.
US economy grows 3.3% in Q2 vs. 3.1% expected
The United States' Gross Domestic Product expanded at an annual rate of 3.3% in the second quarter, the US Bureau of Economic Analysis (BEA) announced on Thursday. This print came in better than the initial estimate and the market expectation of 3% and 3.1%, respectively.
Canada Current Account came in at -21.16B, below expectations (-19.4B) in 2Q
Canada Current Account came in at -21.16B, below expectations (-19.4B) in 2Q
United States Continuing Jobless Claims registered at 1.954M, below expectations (1.97M) in August 15
United States Continuing Jobless Claims registered at 1.954M, below expectations (1.97M) in August 15
United States Gross Domestic Product Price Index meets expectations (2%) in 2Q
United States Gross Domestic Product Price Index meets expectations (2%) in 2Q
United States Initial Jobless Claims 4-week average: 228.5K (August 22) vs 226.25K
United States Initial Jobless Claims 4-week average: 228.5K (August 22) vs 226.25K
EUR/USD slips to 1.1630 as Fed drama fades, France risk grows
The EUR/USD retreats a minimal 0.10% on Wednesday as developments about the Federal Reserve’s independence dissipated, while the French Prime Minister Bayrou called for a confidence vote. At the time of writing, the pair trades at 1.1631, after hitting a daily high of 1.1647.
Nvidia stock slides despite double beat for Q2
Nvidia (NVDA) stock sagged some 5% afterhours on Wednesday after the leading AI chip designer delivered a consensus beat on the top and bottom lines for the second fiscal quarter.
Dow Jones Industrial Average follows equities higher
The Dow Jones Industrial Average (DJIA) drifted upwards on Wednesday as global equities grind their way higher heading through the midweek lull.
Canadian Dollar extends gains as risk-on flows rebound
The Canadian Dollar (CAD) drifted higher on Wednesday, driven by a general upswing in broad-market sentiment that pushed the safe-haven US Dollar (USD) into a holding pattern. The Loonie has risen for three out of the last four trading sessions, extending a near-term CAD bounce from recent lows.
WTI Crude Oil climbs as EIA inventory draw and weaker Greenback fuel recovery
WTI (West Texas Intermediate) Crude Oil is rebounding on Wednesday after a sharp 2.27% drop in the previous session. At the time of writing, the US benchmark trades near $64.00 per barrel, up 1.2% on the day and recovering from a five-day low of $62.80 hit earlier in European trading hours.
Forex Today: US Q2 GDP and the labour market take centre stage
The US Dollar (USD) ended the day alternating gains with losses, giving away strong gains recorded earlier in the day on Wednesday. This irresolute price action came amid unabated concerns surrounding the Fed’s independence and the absence of important developments on the trade front.
Gold holds near $3,400 as Fed bets, politics weigh
Gold price remains steady on Wednesday, even though the Greenback recovered from earlier losses triggered by threats to the Federal Reserve’s (Fed) independence. Nevertheless, Bullion sellers are not out of the woods as pressure from the White House continues. The XAU/USD trades at $3,397, up 0.12%.
Australian Dollar rises toward 0.6500 as US Dollar weakens
The Australian Dollar (AUD) rebounds sharply on Wednesday after edging lower earlier in the day, as the US Dollar (USD) gave up some of its intraday strength.
Pound Sterling Price News and Forecast: GBP/USD dips to 1.3457 as Fed turmoil boosts US Dollar rebound
GBP/USD drops over 0.16% on Wednesday as the US Dollar (USD) continues to recover some ground, courtesy of the White House's threats to the independence of the Federal Reserve (Fed), which triggered a rise on the long end of US Treasury bond yields.
United States 5-Year Note Auction fell from previous 3.983% to 3.724%
United States 5-Year Note Auction fell from previous 3.983% to 3.724%
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