Consumers can save money on airfare by „skiplagging.“ However, airlines generally prohibit the practice — and there may be repercussions if you’re caught.
Archiv für den Monat: Juli 2023
FTX lobbyist tried to buy Pacific island of Nauru to create a new superspecies, lawsuit says
Gabe Bankman-Fried, the younger brother of FTX’s founder, tried to buy the island nation of Nauru to build a shelter to create a superhuman species in a lab.
Cathie Wood says her flagship innovation fund has completely exited China
Ark Invest’s Cathie Wood said her flagship innovation fund has reduced its China exposure to zero as the developing market faces an economic slowdown.
Stocks making the biggest moves midday: Scholastic, AutoNation, Herc, American Express and more
These are the stocks posting the largest moves in midday trading.
Gold and Silver Prices Forecast: XAU/USD and XAG/USD Left Uncertain as Gains Vanish
Gold and silver prices disappointed traders as these precious metals gave up their upside progress. Is this undermining the XAU/USD and XAG/USD outlook for the week ahead?
Japanese Yen Forecast: USD/JPY, EUR/JPY at the Mercy of Intervention Talk
Yen weakness continued this week and was met with comments from Japanese Officials on possible FX Intervention ahead of ‘Central Bank Week’. At what point will Japanese Officials step in?
Australian Dollar Forecast: AUD/USD Sinks but US Dollar Might Be Key
The Australian Dollar has struggled to make ground despite strong local data as the US Dollar machinations continue to ricochet across markets. CPI lies ahead. Will it hit AUD/USD?
British Pound (GBP) Forecast: GBP/USD and GBP/JPY Outlooks Diverge
The British Pound turned lower against a range of currencies this week after inflation data missed expectations, but GBP/JPY moved higher Friday.
Forexlive Americas FX news wrap: Canadian dollar slides as rate hikes hit consumers
- May Canada retail sales +0.2% vs +0.5% expected
- Canada June new housing price index +0.1% vs +0.1% prior
- Trump classified documents trial date set for May 20, 2024
- An update on the most-important chart in the economic world
- Earnings calendar heats up next week along with key central bank policy announcements.
Markets:
- Gold down $8 to $1961
- WTI crude oil up $1.27 to $76.92
- US 10-year yields down 1.7 bps to 3.83%
- S&P 500 down 2 points to 4564
- CHF leads, JPY lags
The economic calendar was light and there was little in the way of unscheduled news to jar the market. Heavy options expiries in stocks and the Nasdaq rebalancing drew some interest but price action was ultimately subdued, though not entirely quiet.
The big mover on the day was what looks like a BOJ leak to Reuters that the BOJ isn’t planning to change up yield curve control next week. That kicked off big yen sales across the board and a rise in USD/JPY to 141.95 before sales at the figure capped an almost-200 pip rally. There was some consolidation early in US trade down to 141.26 but the pair rose 50 pips from there in a second round of strength.
The US dollar was generally strong and particularly so early in the day as the euro and pound hit session lows at 1.1109 and 1.2817, respectively. It’s been a quick reversal in cable in a sixth-straight decline after touching a one-year high last week. The softer UK CPI data was undoubtedly the main economic data point of the week.
For Canada though, it was today’s softer retail sales report. It hints that BOC hikes are beginning to bite and the advance reading for June was flat again. The loonie slumped on the results despite a strong day for oil (which touched above the 200dma). USD/CAD rose 50 pips on the results to 1.3226 at the high and only backing off slightly.
NZD/USD was hit particularly hard this week, despite a high inflation reading. The market isn’t impressed with what China has offered in terms of stimulus so far and it’s been six straight days of good-size selling in the kiwi, taking it down to 0.6166 and only slightly outperforming the battered yen on Friday.
The week ahead is a big one, with rate decisions from the Fed, ECB and BOJ along with a busy week of earnings. Have a great weekend.
This article was written by Adam Button at www.forexlive.com.
Dow industrial average keeps its up string alive with a slim gain
The Dow industrial average kept its winning streak alive with a slim gain of 0.01% today. The S&P index also rose modestly. The NASDAQ index fell for the 2nd consecutive day and is closing lower on the week.
The final numbers are showing:
- Dow industrial average up 2.5 points or 0.01% at 35227.70
- S&P index up 1.48 points or 0.03% at 4536.34
- NASDAQ index fell -30.51 points or -0.2% at 14032.80
This week:
- The Dow industrial average is now risen for 10 consecutive trading days
- The Dow streak is the longest since August/September 2017
- On Thursday the NASDAQ index had its worst day since March
- Healthcare, energy and financials were the biggest gainers this week
- Dow is up for the 2nd consecutive week
The final numbers for the week are showing:
- Dow industrial average +2.08%
- S&P index rose 0.69%
- NASDAQ index fell -0.57%
For the month of July with 6 more trading days left:
- Dow industrial average is up 2.38%
- S&P index is up 1.93%
- NASDAQ index is up 1.78%
Big week next week for earnings. You can find the list of major releases by clicking HERE.
This article was written by Greg Michalowski at www.forexlive.com.