Author: FX
NicoElNino Citi Research analysts raised the Stoxx 600 Index (STOXX) year-end target to 540, from 510, according to a Citi Research Macro Think Tank report. European earnings per share growth is estimated now at 6%, compared to 3%. “Our year-end target assumes no further multiple expansion from current levels, which could still be too conservative,” said Analyst Beata Manthey. This update is driven by a greater certainty on rate cuts — which Citi analysts believe will happen during the first two weeks of June — year-to-date global growth upgrades, and a likely weaker dollar. Analysts said micro risks are still…
© Reuters. In a recent move, Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:) ESG Capital Allocation Term Trust (NYSE:ECAT), has increased its stake in the company through a series of purchases. The investment firm acquired a total of 133,073 shares of common stock, with transactions valuing over $2.2 million. This activity took place on March 21 and March 22, signaling a bullish stance on the trust’s performance. The shares were bought at prices ranging from $16.97 to $17.02, reflecting a confident investment in the trust’s value and potential. After these transactions, Saba Capital Management’s holdings in BlackRock…
Gold Price and AnalysisGold’s backdrop remains positive and may lead to further gains.Retail trader positioning is 50/50. Recommended by Nick Cawley How to Trade Gold Last week’s rally saw gold post a fresh record high before a sharp sell-off left the precious metal relatively unchanged on the week. Last week the Federal Reserve gave markets a nudge that they are likely to shave 75 basis points off the Fed Fund rate this year, in line with prior messaging. The more positive tone taken by Fed Chair Powell gave the precious metal the impetus to post a new ATH before sellers…
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GBP/USD Price and AnalysisGBP/USD edged back above the 1.2600 line.Markets are pretty sure US rates will start to fall in June.US Durable Goods orders will be the next trading hurdle. Recommended by David Cottle How to Trade GBP/USD The British Pound inched back above the 1.26 mark against the United States Dollar in Monday’s European session as expectations of June interest-rate cuts sent the Greenback broadly lower.Recent commentary from the Federal Reserve has left markets pretty sure that this year will see borrowing costs fall, possibly quite substantially. The Chicago Mercantile Exchange’s ‘Fedwatch’ tool now shows markets all but certain…
GBP/USD rebounds from near recent lows just under 1.2600. Economists at Scotiabank analyze the pair’s outlook. Support on dips to the upper 1.2500s has been consistent recently Sterling’s rebound from Friday’s low (a little below the 200-DMA at 1.2592) looks a bit more meaningful than many of its peers on the day so far. Price signals are not obviously bullish on the intraday chart and trend momentum signals are aligned bearishly against the GBP on the intraday and daily oscillators. Still, support for the GBP on dips to the upper 1.2500s has been consistent recently and corrective gains in the…
Being successful, whether it’s in trading, business, or even in parenting, takes a lot of personal development. You are continually tested by your surroundings (the forex market, your employees or coworkers, your children). How you react before, during, and after these challenges all play a part in your success. As currency traders, we all have those days or weeks when things just don’t go our way. Our losses are overshadowing our wins, and we can’t seem to consistently win. We start to wonder if we can ever make any “real” money and if our goal of becoming a full-time forex…
Global stock indices lower on Monday Source link
Japanese Yen (USD/JPY) AnalysisBoJ minutes extend the ‘carry trade’ as officials rule out rapid rate hikesLike clockwork, Japan’s top currency diplomat voices dissatisfaction with recent yen volatility, weaknessIG Client sentiment ‘mixed’ despite massive short positioningThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryBoJ Minutes Offer Scarce New InformationThe minutes from the Bank of Japan’s historic meeting where officials voted to end negative interest rates served up no new information. In fairness, this has been due to the open and transparent communication from the Bank in…
© Reuters. A trader counts U.S. dollar banknotes at a currency exchange booth in Peshawar, Pakistan January 25, 2023. REUTERS/Fayaz Aziz By Rae Wee and Harry Robertson SINGAPORE/LONDON (Reuters) -The dollar slipped on Monday, with the threat of currency intervention from Japanese authorities and a government-driven rally in weighing on the U.S. currency. The Japanese yen was slightly higher on the day and last stood at 151.29 per dollar, having bottomed at a four-month trough of 151.86 last week that left it within striking distance of a 32-year low near 152 per dollar hit in 2022. Japan’s top currency diplomat…