Author: FX
The buyers have plowed into the AUDUSD today. The low to high trading range is around 90 pips which is near double the 22-day average (month of trading) of 47 pips. That range is the 4th largest for the year, and the largest since February 13. So it is something to shout about.The move higher was helped by the breaking of some key technical resistance levels.The 100 bar MA on the 4-hour chart was broken at 0.6524 along with a swing level near that level.The 200 bar MA on the 4-hour chart was the next broken at 0.65399Then the 100…
It’s the ECB’s turn to share its latest policy plans! What are the markets expecting and how may EUR react to the event? Source link
Share: JOLTs Job Openings data for January disclosed lower-than-expected figures. ADP Employment Change for February also came in weak. Powell confirms that the Fed needs additional evidence to start cutting. The US Dollar Index (DXY), trading at the 103.20 level, is experiencing losses on Wednesday. Contributing to these dynamics is the report of soft January’s JOLTs Job Quits and Job Openings reports, along with the ADP Employment Change report for February. Following the testimony before the US Congress, Federal Reserve (Fed) Chair Jerome Powell confirmed that the bank isn’t ready to start cutting rates. The US labor market…
Most Read: GBP Update – Hunt Decides on National Insurance Reduction Over Tax CutsThe U.S. dollar trended lower on Wednesday, pressured by falling U.S. Treasury rates. This occurred despite Federal Reserve Chair Jerome Powell indicating during his Semiannual monetary policy report to Congress that policymakers are in no rush to start lowering borrowing costs.In this appearance before the House Financial Services Committee, the FOMC chief reiterated that the Fed does not believe it would be appropriate to cut rates until it has gained greater confidence that inflation is moving sustainably toward 2.0%.Although Powell’s remarks leaned towards the hawkish side, they…
ABM Industries Q1 2024 Earnings Preview Source link
© Reuters. In their Fourth Quarter and Full Year 2023 Earnings Conference Call, Aeva Technologies (AEVA) reported a year of strategic partnerships and technological advancements. The company announced its selection as the exclusive LiDAR supplier for Daimler (OTC:) Truck’s series production vehicle program, estimating a forward-looking order book of $1 billion. Aeva also secured agreements with May Mobility and Nikon (OTC:), and introduced Atlas (NYSE:), a cutting-edge 4D LiDAR technology. Despite a non-GAAP operating loss of $124.1 million, the company ended the year with $346 million in cash and no debt, and expects revenue to grow by at least 100%…
UK Spring Statement and Sterling Updates Recommended by Richard Snow How to Trade GBP/USD Hunt Confirms Additional 2 Percent Cut to NI Contributions, No Tax CutThere has been a large degree of political importance surrounding what is essentially a pre-election budget – with Jeremy Hunt given the near impossible task of appealing to the voter base and balancing the books at the same time.In the lead up to the UK budget announcement a tax cut was widely anticipated until Jeremy Hunt, by his own admission, highlighted that forecasts ‘have gone against us’, leaving very little headroom for the Chancellor of…
The US dollar is near the lows of the day and equity futures are at the highs, with S&PO 500 futures up 29 points. The dollar has fallen 10-15 pips since the text of Federal Reserve Chairman Jerome Powell’s appearance in Congress was released. In it, he maintained the recent commentary from him and many other Fed officials. They continue to expect to cut rates this year but want to gain more confidence in inflation falling first.That data-dependent approach underscores the market’s sensitivity to economic data. Today, ADP employment was slightly softer than expected at +140K versus the +150K consensus.…
Share: GBP/USD Forecast: Pound Sterling turns bullish, eyes on UK budget GBP/USD continues to edge higher and trades above 1.2700 after closing the third consecutive trading day in positive territory on Tuesday. The pair’s near-term technical outlook points to a bullish tilt as investors await the UK budget and Federal Reserve (Fed) Chairman Jerome Powell’s testimony. UK Chancellor of the Exchequer Jeremy Hunt will present the Spring Budget on Wednesday. Hunt it expected to announce expansionary fiscal measures, including tax cuts. Although it’s too early to say, expansionary measures could make the Bank of England’s (BoE) job of taming inflation more…
Euro (EUR/USD) Price, Analysis, and Chart• EUR/USD looks more comfortable above 1.08• The ECB is expected to remain ‘in no hurry’ to lower record-high borrowing costs• Fed Chair Jerome Powell is off to Congress for scheduled testimonyThe Euro rose against the United States Dollar yet again on Wednesday and seems set for a fourth straight session of gains as the market looks ahead to the European Central Bank’s next monetary-policy announcement which is due on Thursday. The ECB is expected to leave interest rates alone at record highs for the fourth straight meeting thanks to stubbornly high inflationary pressures in…