Author: FX
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…
US Dollar Price and ChartsNFP revision sends the US dollar lower.Unemployment rate rises, average monthly earnings fall. Recommended by Nick Cawley Get Your Free USD Forecast The headline NFP number beat market expectations by a healthy margin but this was more than compensated for by a steep downward revision to January’s release. In February, 275k new roles were created compared to market forecasts of 200k, while the January figure of 353k was revised down to 229K, a difference of 124k. The unemployment rate rose to 3.9%, compared to a prior level and market forecast of 3.7%, while average hourly earnings…
Softchoice Corporation (TSX:SFTC:CA) announced that the Toronto Stock Exchange has accepted its previously announced notice of intention to renew its normal course issuer bid. Pursuant to the notice, Softchoice may purchase up to 1,500,000 of its Shares, representing about 2.5% of its issued and outstanding Shares, during the twelve-month period commencing March 13, 2024 and ending March 12, 2025. Source: Press Release Source link
Ethereum (ETH) Prices, Charts, and Analysis:Ethereum eyes $4k ‘big figure’ technical resistance.ETH/BTC spread closes in on prior resistance. Recommended by Nick Cawley Get Your Free Introduction To Cryptocurrency Trading Ethereum has rallied by over 80% since the January 23rd low print at $2,165 producing a fairly constant series of higher highs and higher lows. The one major short-term sell-off on Tuesday, March 5th was quickly recovered, underpinning the recent strength of the move, and an attempt on the $4k ’big figure’ resistance level seems likely as long as current market sentiment remains upbeat. As always with an asset class as…
© Reuters. Tuya Inc. (NYSE: TUYA) has reported a robust financial performance for the fourth quarter of 2023, with total revenue reaching approximately $64.4 million, a significant 42.2% increase from the previous year. The company’s gross margin hit a new peak at 47.3%, buoyed by enhanced margins across all business sectors. Non-GAAP net profit also rose by about 25% quarter-over-quarter. Tuya’s strategy moving forward includes engaging with high-quality customers, broadening product offerings, and improving cost efficiency. The company is poised to drive revenue growth through optimizing product volume and pricing, while also venturing into new smart domains and fostering partnerships…
Share: Canada releases jobs figures for February today. Economists at ING analyze Loonie’s outlook ahead of the employment report. Loonie still looks at the US more than Canada Expectations are for a respectable 20K employment print, with the unemployment rate expected to nudge higher from 5.7% to 5.8%. The implications for the Canadian Dollar should not be material unless we see a big surprise in either direction. Both the Loonie and Bank of Canada rate expectations have followed very closely US data dynamics and we think that today’s US payrolls should have a bigger say in the short-term…
US Dollar, Gold, and Bitcoin Analysis, Prices, and ChartsFed and ECB are confident, but not confident enough yet to start cutting rates.Gold continues to rally, Bitcoin primed for another ATHUS NFPs the next driver of price action. Recommended by Nick Cawley Get Your Free USD Forecast In his testimony to the Senate Banking Committee yesterday, Fed Chair Jerome Powell indicated that interest rates could soon be on the way down.‘If the economy does as expected, we think carefully removing the restrictive stance of policy will begin over the course of the year’, Powell said Thursday.He added ‘I think we are…
bluejayphoto Producer Price Inflation month-over-month in Germany increased to 0.2% in January from -1.20% in December 2023. On a yearly basis, Producer Prices in Germany decreased 4.4% in January. ETFs: (EWG), (DBGR), (FGM) Currency: (EUR:USD) Source link
China allows the import of Austrian dairy products Source link
NZD/USD is testing a key resistance zone in the 4-hour time frame! Will the pattern hold in the next trading sessions? I don’t know if you’ve been watching non-USD currencies lately but commodity-related currencies like AUD, NZD, and CAD have gotten some support from higher crude oil prices, China’s strong trade data, and an overall anti-USD sentiment. Meanwhile, the U.S. dollar has been leaking pips against its major counterparts after Powell’s testimony confirmed interest rate cuts this year. NZD/USD 4-hour Forex Chart by TradingView Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If…