Author: FX
As the Friday trading day winds down, what are the key technical levels in play for the EURUSD heading into the new trading week. In the video above, I outline what to watch for technically in the trading week starting March 11. This article was written by Greg Michalowski at www.forexlive.com. Source link
Justin Sullivan/Getty Images News Oracle (NYSE:ORCL) is scheduled to report third-quarter earnings on Monday, March 11th, after market close. Analysts expect a year-over-year increase in both the top and bottom lines, with earnings per share of $1.38 on revenues of $13.3 billion. After a disappointing first-half of the year, sentiments are mixed around the Austin, Texas-based company’s third-quarter results. Analysts at Guggenheim believe Oracle (ORCL) will struggle to meet third-quarter expectations as it deals with a tough macroeconomic environment along with a “steep hill of new business needed to achieve consensus estimates.” According to Jefferies, it would be unusual for…
Share: Mexican Peso appreciates for the seventh consecutive day, buoyed by soft US Dollar following mixed US jobs report. Banxico’s upcoming rate decision eyed closely after subdued Mexican inflation figures. US Nonfarm Payrolls exceed expectations, but revisions and higher Unemployment Rate fuel speculation of June Fed rate cut. The Mexican Peso appreciated for the seventh straight day on Friday against the US Dollar following a mixed jobs report from the United States that increased speculation that the US Federal Reserve (Fed) would cut interest rates in June. The data helped the Greenback tumble to refresh seven-week lows, a…
Share: Silver inches closer to retesting its year-to-date high of $24.63, after marking a 0.86% increase. Technical dynamics suggest potential for further gains if silver surpasses the $24.50 resistance. Downside risks loom if silver falls below $24.31, targeting supports at $24.00 and the March 6 low of $23.57. Silver’s price rallies, but it remains below the new year-to-date (YTD) high of $24.63. It reached earlier, post gains of 0.86%, and trades at around $24.50 during the mid-North American session. XAG/USD Price Analysis: Technical outlook Silver retreated during the day, below the March 7 daily close of $24.31, which…
Share: US NFP on Friday prints big upswing to expectations but steep revisions. Canada also mixed, adding more jobs than expected but softer wages. Next week: US CPI inflation, strictly low-tier Canadian data. The Canadian Dollar (CAD) roiled against the US Dollar (USD) on Friday after US Nonfarm Payrolls (NFP) figures came in mixed, and Canadian employment figures were broadly overshadowed by US data. The CAD is broadly softer on the day, shedding weight against all of its major currency peers. Canada added more jobs than expected in February, but wage growth slowed slightly while the Unemployment Rate…
Share: Nonfarm Payrolls data reported by the US Bureau of Labor Statistics came in higher than expected. Average Hourly Earnings for February unveiled a lower figure than expected, while the Unemployment Rate increased. Markets are still seeing the first cut in June. The index will close out a 1% losing week, its worst performance since December. The US Dollar Index (DXY) is trading near 102.60 on Friday, recording a loss. The driving factors for these movements largely include the dovish stance of the Federal Reserve (Fed) Chair, Jerome Powell, and the weak performance of the US labor market…
Most Read: US Dollar Falls Further After US NFP Beat but January Number Revised Sharply LowerUSD/JPY extended losses and sank to its lowest level since early February on Friday, supported by speculations that the Fed may be closer to getting greater confidence that inflation is on a sustained path towards the 2.0% target to start reducing borrowing costs.The dollar’s lackluster performance before the weekend was compounded by the February employment report, which revealed a spike in the unemployment rate to its highest level in two years. This raised concerns about potential cracks appearing in the U.S. labor market.However, the main…
© Reuters. FILE PHOTO: Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Jonathan Stempel NEW YORK (Reuters) – A federal appeals court on Friday revived a lawsuit where investors accused Binance, the world’s largest cryptocurrency exchange, of violating U.S. securities laws by selling unregistered tokens that lost much of their value. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said investors in the proposed class action plausibly alleged that domestic securities laws applied because their purchases of tokens…
The US dollar has taken back a good portion of its non-farm payrolls drop as it levels out and broader markets consolidate.EURUSD 10 minsThe dollar has been reluctant to push the ranges on the day and it’s similar in bonds. Yields initially fell on the data but then retraced with US 10s now down 2.1 bps to 4.07%, which is about where it traded before the data. However front-end yields are 4.-5 bps below pre-data levels and those are stronger FX drivers.I’m always leery of an NFP move that’s been front-run and that was the case over the past 24…
Share: USD/MXN fell in February from 17.17 to 17.06. Economists at MUFG Bank analyze Mexican Peso’s outlook. MXN weakening path ahead The MXN might weaken in the next few months on the back of a dovish tone of Banxico minutes and weaker-than-expected industrial production and retail sales that could drive a Banxico rate cut coming earlier than the Fed, although some Banxico members are willing to synchronize its decision with the Fed. From June onwards, the MXN tends to be more strongly influenced by expectations regarding the new government and its policies. Eurasia judges that Ms. Claudia Sheinbaum…