Author: FX
Fundamental OverviewYesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction.The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the top of their yearly ranges. The culprit was attributed mainly to Hurricane Helene and the strikes. The second reason is that the market was already positioned for a higher than expected reading as we’ve been seeing consistent upside in Treasury yields and the US Dollar in the…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the USD/JPY pair within the H1 timeframe. I’ve shared a trade setup image for your…
Gold price gains positive traction for the second straight day amid bets for additional Fed rate cuts. A softer risk tone further benefits the safe-haven precious metal and contributes to the positive move. Fading hopes for a more aggressive easing by the Fed underpin the USD and cap the XAU/USD. Gold price (XAU/USD) retreats a bit from a three-day peak and trades around the $2,640 area during the early European session on Friday, still up over 0.40% for the day. A surge in the US weekly jobless claims pointed to signs of weakness in the labor market and should allow…
Tejon Ranch Company (NYSE:TRC) has announced a joint venture with Dedeaux Properties to develop a 510,500-square-foot industrial warehouse at the Tejon Ranch Commerce Center (OTCPK:TRCC). Located at the intersection of Interstate 5 and Highway 99, TRCC serves as an important logistics hub for California and Source link
By Maya Gebeily and Alexander Cornwell BEIRUT/JERUSALEM (Reuters) -Israeli strikes killed 22 people and injured more than 100 in central Beirut on Thursday, Lebanese authorities said, as a senior Hezbollah official evaded an Israeli assassination attempt in the city, according to three security sources. In Lebanon’s south, two United Nations peacekeepers were injured when an Israeli tank fired at a watchtower at the force’s main headquarters in Naqoura, prompting the U.N. to say its personnel were facing increasing danger. The conflict between Israel and Hezbollah erupted one year ago when the Iranian-backed group opened fire in support of Palestinian militant…
Are gold prices ready to resume their long-term climb to fresh highs? Or will the precious metal hit another roadblock on its uptrend? Check out these nearby inflection points I’m watching on the 4-hour time frame: Gold (XAU/USD) 4-hour Chart by TradingView Gold prices have been on a tear over the past couple of months, with its higher lows connected by a rising trend line that’s been holding since August. The precious metal seems to have bounced off this support zone as risk-off flows and anti-USD action resumed this week, suggesting that bulls might be ready to charge again. However,…
All eyes and ears were on the U.S. CPI release… which didn’t really cause much of a ruckus in the markets. Crude oil, however, caught a massive 3% win for the day. Read on to find out why! Headlines: Japan’s producer prices rose from 2.6% to 2.8% year-on-year in September instead of dipping to the projected 2.3% figure Japan’s top currency diplomat Kanda noted that markets remain “extremely sensitive” to economic developments and the monetary policy outlook in major economies People’s Bank of China talked of more stimulus, as it said it would set up the 500B-yuan Securities, Funds and…
The September U.S. CPI report reflected slowing price pressures for the month, but the annual headline and core inflation readings were still hotter than expected. Headline CPI rose another 0.2% month-on-month, slightly higher than the projected 0.1% uptick, while the core CPI logged in a 0.3% monthly gain versus the expected 0.2% increase. This brought the annual headline CPI down from 2.5% to 2.4%, a notch higher than the 2.3% consensus and still above the central bank’s 2% target. Link to official U.S. CPI Report (September 2024) Underlying components revealed that the gains were spurred by a 0.2% monthly increase…
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The Australian Dollar trades in positive territory for the second consecutive day in Friday’s Asian session. Reduced bets of deeper Fed rate cuts support the USD and weigh on the pair. Investors brace for the US PPI data, which is due on Friday. The Australian Dollar (AUD) gains ground on Friday. Nonetheless, the lower odds of aggressive interest rate cuts from the US Federal Reserve (Fed) after the hotter-than-expected inflation data might lift the US Dollar (USD) and cap the upside for the pair. In the absence of top-tier economic data releases from the Australia on Friday, the USD price dynamic will be the main driver…