Author: FX
EUR/USD holds gains above 1.1100 as investors expect the Fed to continue its aggressive policy-easing cycle. The Fed sees interest rates declining to 4.4% by year-end. ECB Nagel said that inflation is still higher than the ECB would like to see. EUR/USD gives up half of its intraday gains but holds the crucial support of 1.1100 in Thursday’s North American session. The major currency pair faces nominal pressure as the US Dollar (USD) bounces back after the release of lower-than-expected Initial Jobless Claims data for the week ending September 13. The data showed that the number of individuals claiming jobless benefits for the first time came…
Expensify, Inc. (NASDAQ:EXFY) CEO David Barrett recently engaged in transactions involving the company’s Class A Common Stock, according to a new SEC filing. Barrett, who also serves as a director at Expensify, sold a total of 13,268 shares over two separate transactions, netting over $30,000.On September 16, Barrett sold 11,095 shares at an average price of $2.28 per share. The sales were executed in multiple transactions with prices ranging from $2.25 to $2.32. Following this sale, Barrett’s ownership in Class A Common Stock decreased to 173,820 shares. The next day, on September 17, an additional 2,173 shares were sold at…
Fundamental OverviewYesterday, the Fed finally started its easing cycle and decided to do it with a 50 bps cut. The market was already leaning towards a 50 bps move, so it wasn’t a surprise. The larger cut was framed as kind of an “insurance” cut with the dot plot showing two more 25 bps cuts by the end of the year and less than the market expected in 2025. What’s important is that the Fed is cutting into a resilient economy which should lead to better growth expectations and support the stock market.Nasdaq Technical Analysis – Daily TimeframeNasdaq DailyOn the…
The New Zealand Dollar (NZD) is likely to trade in a 0.6150/0.6270 range, UOB Group FX analysts Quek Ser Leang and Victor Yong note. Closing in on the 0.6270 hurdle 24-HOUR VIEW: “In NY trading, NZD traded in a volatile manner between 0.6184 and 0.6268, closing at 0.6208 (+0.33%). We are not able to glean much out of the choppy price movements. Today, we expect NZD to trade in a range, probably between 0.6180 and 0.6230.” 1-3 WEEKS VIEW: “On Tuesday (17 Sep, spot at 0.6185), we indicated that NZD is likely to trade in a 0.6135/0.6235 range for now.…
Win McNamee JPMorgan (NYSE:JPM) CEO Jamie Dimon thinks people are overly focused on the soft landing-hard landing debate. Geopolitical tensions pose the biggest risk to global financial markets and “may affect the free and Democratic world for the next 100 years,” he warned. Source link
Spot gold turned lower from its $2,600 record highs following the Fed’s interest rate cut event! Are we looking at an opportunity to jump in XAU/USD’s long-term uptrend? Let’s take a closer look at the 4-hour time frame: Gold (XAU/USD) 4-hour Forex Chart by TradingView In case you missed it, the Fed had a “Brat summer” moment and surprised some traders with a 50bps interest rate cut on Wednesday. Not only that, but the “Dot plot” projections also pointed to more rate cuts this year and the next. However, the Fed also raised its medium-term interest rate forecasts, and JPow…
The firm is changing up their call after the Fed moved more aggressively to start things off with a 50 bps rate cut here. Their previous call was for the Fed to only perform quarterly cuts in 2025. But now, they are expecting the Fed to go with 25 bps rate cuts at each of the meetings in January, March, May, and June. This article was written by Justin Low at www.forexlive.com. Source link
Gold prices rose in India on Thursday, according to data compiled by FXStreet. The price for Gold stood at 6,894.34 Indian Rupees (INR) per gram, up compared with the INR 6,884.92 it cost on Wednesday. The price for Gold increased to INR 80,414.20 per tola from INR 80,304.38 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 6,894.34 10 Grams 68,943.38 Tola 80,414.20 Troy Ounce 214,438.00 FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…
Data from the Australian Bureau of Statistics (ABS) reflected the resilience of Australia’s labor market amidst an elevated interest rate environment. The economy added a net 47.5K jobs in August, higher than the expected 28.0K increase and only slightly lower than July’s downwardly revised 48.9K uptick. The gains came mostly from part-time employment though full-time jobs showed fewer losses than traders priced in for the month. Here’s a breakdown of August’s numbers: A net of 47.5K jobs were added (vs. 28.0K expected) in August July’s net additions were revised lower from 58.2K to 48.9K The labor force participation rate steadied…
The BOJ is not expected to change its policies this week, but the event will be under the spotlight as traders look for clues on the central bank’s immediate plans. Here are points you need to know if you’re trading the BOJ’s decision this week! 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