Author: FX
It was a hectic week in the global financial markets, as the FOMC decision took center stage while crude oil made some big moves of its own. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Although the FOMC decision was the main event on everyone’s radars, there was no shortage of top-tier economic updates that pushed major currencies around throughout the week. Source link
The NZD/JPY rose by nearly 0.90% to 89.80 on Friday. The RSI is in positive territory and rising, indicating buying pressure. The MACD is showing rising green bars, suggesting increasing bullish momentum. In Friday’s session, the NZD/JPY continued its climb, propelled by a 0.90% rise to 89.80. This upward trajectory indicates that the pair is gaining strength following the recent consolidation above the 89.00 level. The pair is also riding a substantial winning streak and exhibiting signs of technical strength, amplifying the possibility of further advancements. Examining the Relative Strength Index (RSI), it is currently positioned at 54, suggesting that…
The economic data today was focusing Canada where retail sales rose by a higher-than-expected 0.9% but you should prices were lower than expectations.In the US, two-days after the FOMC rate decision to cut rates by 50 basis points, Feds Waller – normally a more hawkish member – spoke on CNBC. His comments were thought to be more dovish as the Fed recalibrates policy with inflation lower and potential for unemployment to move higher. Fed Governor Chris Waller stated that the economy remains strong, and inflation is coming down. He expressed openness to front-loading rate cuts based on inflation data, especially…
USD/JPY on track for a positive weekly close, yet still under key resistances, maintaining the downtrend. Resistance challenges include Kijun-Sen at 144.40 and Ichimoku Cloud; 50-DMA approaching a bearish cross with 100 and 200-DMAs. Buyer momentum builds with RSI rising, though remains below the critical 60 mark needed to overturn the downtrend. Potential upside targets 145.00 and the September 3 high at 147.21; a drop below 143.00 could test support at 142.04 (Tenkan-Sen). The USD/JPY registers gain for back-to-back days, yet it remains shy of decisively cracking the 144.00 figure despite registering a weekly high of 144.49. At the time…
The Dow Jones is inching back into record highs on Friday. The index continues to find play above 42,000 in the post-Fed glut. The Dow Jones stock index rose up to 100 points, or 0.25%, during Friday trading. The Dow Jones Industrial Average (DJIA) edged back into the top end during the Friday market session, keeping bids north of 42,000 and sticking close to this week’s all-time record peaks. Equities pivoted firmly into the bullish side after the Federal Reserve (Fed) cut interest rates Wednesday, easing policy rates for the first time in four years and delivering an outsized 50…
Upbeat Aussie Employment data strengthens case for RBA to maintain its current interest rate policy. Aussie shows little reaction to PBoC’s decision to leave interest rates unchanged. Fed dovish bets might limit the downside. The AUD/USD declined by 0.40% to 0.6790 in Friday’s session, pressured by growing expectations of interest rate cuts by the Federal Reserve (Fed). The Fed’s focus on preventing labor market deterioration has led traders to anticipate a 75-basis-point (bps) decrease in the remaining two Fed policy meetings. The Australian Dollar remained stable despite the People’s Bank of China’s (PBoC) decision to maintain interest rates unchanged. Despite…
The major US stock indices are closing the day with mixed results. It was triple witching hour so there was some end-of-day volatility, that could have impacted the price action. At the ending bell, the Dow industrial average is closing higher. The broader S&P and NASDAQ indices are closing lower. They small-cap Russell 2000 was the worst performer today with a decline of -1.10%.Below is a snapshot of the closing levels: Dow industrial average rose 38.17 points or 0.09% at 42063.36S&P index fell -11.09 points or -0.19% at 5702.55NASDAQ index fell -65.66 points or -0.36% at 17948.32The small-cap Russell 2000…
The Canadian Dollar continues to churn in the midrange. Canada remains on the back burner after CPI inflation fizzled this week. CAD traders are facing a slim data calendar next week. The Canadian Dollar (CAD) found little underpinning momentum on Friday, and the CAD is poised to wrap up the end of the trading week close to where it started. The Canadian Dollar fell to a three-week low of 1.3650 against the US Dollar (USD), but broad-market Greenback weakness has USD/CAD stumped near 1.3550. An appearance from Bank of Canada (BoC) Governor Tiff Macklem fizzled on Friday, failing to jumpstart…
Shares of Intel are trading up 5.82% after reports from the WSJ that Qualcomm approached the company about a takeover in recent days. The shares of Intel are down in 2024 from an end of year closing level of $50.25. The current price is up $1.23 or 5.82% at $22.37 in volatile trading . The low for the year reached $18.51 on September 10.With Berkshire ridding itself of some of the Apple position and Bank of America and raising cash, would that be an idea too? I am just thinking out loud. That is not substantiated but it might be…