Author: FX

Unlocking ASX Trading Success: FORTESCUE LTD – FMG Stock Analysis & Elliott Wave Technical Forecast Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with FORTESCUE LTD – FMG. We have identified that wave (v) may return to FMG to continue pushing higher, but it needs to be monitored closely until the significant high is breached. This would increase confidence and renew the bullish outlook. ASX: FORTESCUE LTD – FMG Elliott Wave technical analysis   Function: Major trend (Minuette degree, purple). Mode: Motive. Structure: Impulse. Position: Wave (iv)-purple. Details: The short-term outlook indicates that waves (i)-purple through…

This forex pair has been pacing inside its range for quite some time and is currently testing the top. Is it in for a bounce or a break next? Check out these inflection points I’m watching on the hourly time frame. USD/CAD 1-hour Forex Chart by TradingView USD/CAD has been tossing and turning these days, taking cues from crude oil rallies while also adjusting to shifting policy bets. In particular, easing expectations for the Bank of Canada (BOC) have been on the rise recently, as the country’s inflation reports fell short of estimates. Meanwhile, geopolitical tensions continue to keep investors…

© Reuters. FILE PHOTO: A shopkeeper naps as she waits for customers at a traditional market in Seoul, South Korea, April 7, 2022. REUTERS/Kim Hong-Ji/File Photo By Jihoon Lee SEOUL (Reuters) -South Korea’s consumer sentiment dropped sharply in March on growing worries about higher produce prices, a central bank survey showed on Tuesday, as inflation hitting the dinner table emerges as a major policy issue at next month’s elections. The consumer sentiment index fell to 100.7 in March from 101.9 in February, posting the biggest monthly drop since October, in the Bank of Korea’s monthly survey of consumers. Inflation expectations…

There is a speech from the RBA coming up soon, at 0220 GMT. Its from Ellis Connolly, Head of Payments Policy. Its very unlikely there will be anything said about monetary policy but there may be a comment or two on the economy.Its around 24 C (75 F) in Sydney so I don’t think there will be much ‘fireside’ going on either. Source link

Gold Price extends gains around $2,171 amid the weaker USD. The upward momentum of gold prices is supported by the expectations of rate cuts by the Fed this year.  The escalating geopolitical tensions in both Eastern Europe and the Middle East might lift the gold price.  Gold Price (XAU/USD) extends its upside above the mid-$2,150 during the early Asian trading hours on Tuesday. The expectations of interest rate cuts by the US Federal Reserve (Fed) this year and the dovish remarks from Fed officials weigh on the US Dollar (USD) and provide some support to the US Dollar-denominated Gold. At…

Cindy Ord/Getty Images Entertainment Adam Neumann, the founder and former CEO of WeWork (OTC:WEWKQ), has made a more than $500M bid to buy back his former company, according to a media report. Although Neumann stepped down as CEO and gave up his majority voting control in September 2019, reports are he has wanted to get back in the saddle of WeWork for some time. The Wall Street Journal reported that Neumann’s attorneys sent a letter in February to the company’s advisers noting he was teaming up with hedge fund Third Point and others. Bloomberg reported in early February of a…

SlavkoSereda/iStock via Getty Images Crude oil futures rose Monday in the wake of escalating geopolitical worries following attacks in Russia and a bullish Goldman Sachs note on the outlook for commodities. Russia’s Kuibyshev oil refinery halted one of its two primary refining units, knocking out half of its capacity following a Ukraine drone attack over the weekend, Reuters reported; the strike was the eighth on Russian refineries in the last three weeks. The attack will knock another 35K bbl/day of Russian refinery capacity out of action, bringing a total of ~400K bbl/day offline on top of normal maintenance, StoneX’s energy…

© Reuters. In a recent flurry of activity, insiders at TruBridge, Inc. (NASDAQ:CPSI), a company specializing in computer programming services, have purchased a significant number of shares, signaling confidence in the company’s prospects. Over several transactions, insiders acquired shares with a combined value of approximately $998,295, at prices ranging from $9.313 to $9.435. The transactions were executed on three separate dates, with the first purchase occurring on March 21, 2024, where 40,000 shares were acquired at a weighted average price of $9.435. This was followed by a purchase of 41,000 shares on March 22 at an average price of $9.313.…

It’s good to be Ripple’s lawyers right now as the bills are about to run into the stratosphere. I’m not so sure it’s going to be anyone else at Ripple as they face a protracted legal fight.Ethereum is up 9.5% today despite similar murmurs about the US DOJ taking aim at the Ethereum Foundation and classifying it as a security. This article was written by Adam Button at www.forexlive.com. Source link

Mexican Peso benefits from US Dollar weaknesses, shrugging off Banxico rate cut. Banxico Governor emphasized cautious approach to rate adjustments, stressing ongoing inflation battle. Mixed economic updates from both Mexico and the US leave traders weighing Fed’s rate cut discourse against actual data. The Mexican Peso capitalized on broad US Dollar weakness on Monday, climbing more than 0.1% in the mid-North American session. A risk-off impulse was no excuse for the Mexican currency’s bulls despite last week’s interest rate cut by the Bank of Mexico (Banxico). Additionally, traders ignored comments from Federal Reserve’s (Fed) members as the Greenback remains pressured.…