Author: FX

Happy Monday.It’s a big week with the BOJ later and Fed on Wednesday among other highlights. Today it starts off slowly with Canadian PPI at the bottom of the hour followed by US homebuilder sentiment at 10 am ET (1230 GMT). The other event that will get some attention today is the Nvidia developers conference, which starts today and runs for three days. There will be a keynote from founder and CEO Jensen Huang later today, which should include talk on its next-generation chip and the future of AI. Source link

USD/CAD exhibits strength above 1.3500 ahead of an eventful week. The Fed is widely anticipated to hold interest rates unchanged in the range of 5.25%-5.50%. The Canadian Dollar faces pressure ahead of consumer inflation data for February. The USD/CAD pair seems comfortable above the psychological resistance of 1.3500 in the European session on Monday. The Loonie asset clings to gains amid uncertainty ahead of the interest rate decision by the Federal Reserve (Fed), which will be announced on Wednesday. While the Fed is certain to keep interest rates unchanged in the range of 5.25%-5.50%, market participants will keenly focus on…

yalcinsonat1 Apple (NASDAQ:AAPL) is in discussions to fit Google’s artificial intelligence model Gemini into the iPhone, Bloomberg News reported citing people with knowledge of the matter. The two tech giants are in talks to let Apple license the Alphabet (GOOG) (GOOGL) unit’s AI model Gemini to power some new features which would come to the iPhone software in 2024, the report added. Recently, Apple was also in talks with Microsoft (MSFT)-backed OpenAI and has considered using its AI model, the report noted. The Cupertino, Calif.-based Apple is preparing new capabilities as part of the iPhone’s upcoming operating system iOS 18.…

Japanese Yen Prices, Charts, and AnalysisCurrent market pricing shows a 44% chance of a 10 basis point rate hike tomorrow.Recent wage negotiations may well give the BoJ confidence to move. Recommended by Nick Cawley How to Trade USD/JPY Tuesday’s BoJ policy meeting may see the Japanese Bank Rate lifted out of negative territory for the first time in over eight years after Japan’s largest trade union agreed to the largest wage increase in over three decades. The central bank has been pushing for higher wages to help domestic inflation stay at target and help boost the economy.Japanese Wages Rise to…

© Reuters. FILE PHOTO: Smoke rises as displaced Palestinians take shelter at Al Shifa hospital, amid the ongoing conflict between Hamas and Israel, in Gaza City, November 8, 2023. REUTERS/Doaa Rouqa/File Photo JERUSALEM/CAIRO (Reuters) -Israeli troops raided the compound of Gaza’s Al-Shifa Hospital early on Monday in an operation that Palestinian health authorities said had caused multiple casualties and set off a fierce fire in one of the buildings. The Israeli military said soldiers conducted a “precise operation” and were fired upon when they entered the compound. “The troops responded with live fire and hits were identified. Our troops are…

Who’s ready for SIX central bank events this week?! And did I mention we’ve also got top-tier inflation reports, New Zealand’s GDP, Australia’s jobs data, and global flash PMIs? Better read up on these major market events right away, so you won’t get blindsided by extra volatility. 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

It’s a quieter start to the week and things won’t look to change too much in European trading today. All eyes are on the major central bank policy decisions to come and we’ll only start getting into that tomorrow.For now, major currencies are not much changed while stock futures are a tinge higher on the day. It is still early in the week so there isn’t much to read into the moves for today. The landscape of things will shift accordingly as we get to each major central bank decision in the days ahead.As for European trading today, it’s more…

AUD/CAD looks like it’s maintaining its uptrend despite last week’s CAD strength and AUD weakness! Can the pair keep on making higher highs and higher lows this week? Here’s what we’re checkin’ out in the 4-hour time frame: AUD/CAD 4-hour Forex Chart by TradingView Better-than-expected Canadian economic data and a bump in the prices of crude oil – one of Canada’s biggest exports – helped boost CAD higher. Meanwhile, a lack of Australian data releases pushed AUD into the countercurrency (and mostly bearish) corner last week. This may change this week as the Reserve Bank of Australia (RBA) publishes its…

Indian Rupee edges higher on Monday on the weaker USD.  The optimistic Indian economic outlook and the continuous foreign inflows boost the Indian Rupee. The US Fed interest rate decision on Wednesday will be in the spotlight.  Indian Rupee (INR) recovers its lost ground on Monday amid the modest decline of US Dollar (USD). The recovery of the INR is bolstered by the positive economic outlook in the Indian economy and the continuous foreign inflows into government bonds. Foreign portfolio investors increased their holdings of Indian government bonds by roughly 50% since the index inclusion news less than six months…

RHJ/iStock via Getty Images BHP (NYSE:BHP) has cut ~100 workers constructing its West Musgrave nickel and copper project in Western Australia, Australian Financial Review reported Sunday, in the latest move by a major mining company to reduce costs in an environment of weak commodity prices. The workforce at the A$1.7B project was cut from ~400 to 300, but the paring of some workers did not mean the entire project, acquired from OZ Minerals last year, has been canceled, according to the AFR report. BHP (BHP) already said it would take a A$2.5B impairment charge related to its struggling Western Australia…