Author: FX

NZDUSD keeps finding support at the 200 day MAThe NZDUSD moved sharply lower yesterday after the Reserve Bank of New Zealand rate decision was unchanged with a more dovish bias. That was in contrast to the market assessment that the central bank would be more hawkish (and perhaps raise rates). Looking at the 4-hour chart, yesterday the price of the pair fell below the 100 and 200-bar moving averages near 0.6127, and then later the 100-day moving average of 0.60933. However, sellers could not push the price below the 200-day moving average currently at 0.60758 (lower green line). The price…

Share: GBP/JPY continues to deflate, falling sharply on Thursday. Japanese Retail Sales came in as expected, with revisions. Japan’s Unemployment Rate to wrap up the trading week. GBP/JPY fell back towards the 189.00 handle on Thursday after Yen (JPY) markets stepped higher following a Japanese Retail Sales print that came in at expectations, and previous data saw mixed revisions. UK data remains thin on the economic calendar this week, and Yen traders will be looking ahead to next Tuesday’s Japanese Tokyo Consumer Price Index (CPI). Japan’s Retail Sales came in at 2.3% for the year ended in January,…

JAPANESE YEN FORECAST – USD/JPY, EUR/JPY, GBP/JPYThe Japanese yen rallies following verbal intervention by Japan’s top FX diplomatHowever, a sustained recovery is unlikely to materialize until the Bank of Japan abandons its ultra-dovish stanceThis article discusses the technical outlook for USD/JPY, EUR/JPY and GBP/JPYMost Read: US Dollar Slips after Core PCE meets Expectations, USD still needs a DriverThe Japanese yen strengthened on Thursday following remarks by Japan’s vice finance minister for international affairs, Masato Kanda, indicating that the government is monitoring exchange rate fluctuations with urgency and is prepared to respond appropriately to suppress volatility.The verbal intervention by the country’s…

LumiNola/E+ via Getty Images Nu Skin (NYSE:NUS) earlier rose as much as 5.4% and is now up 2% amid some vague activist speculation. Nu Skin (NUS) has a high vulnerability to an activist investor, according to a report from Insightia’s Activist Insight being passed around by traders earlier on Thursday. Activists made demands on almost 20 firms in the global personal care industry last year, the highest since 2018. The report highlighted that competitor Avon Products was targeted by shareholders Barington Capital and NuOrion Partners and the cosmetics firm ended up selling itself to Natura for more than $2 billion…

© Reuters. ProAssurance Corporation (NYSE:) reported a per share operating loss of $0.05 for the fourth quarter of 2023. The loss was mainly attributed to increasing losses in the Workers’ Compensation book of business. Despite this, the company has seen gains in new business and strong renewal retention in both Specialty P&C and Workers’ Compensation Insurance segments. ProAssurance continues to implement a long-term strategy for sustained profitability, even as it faces difficult market conditions and a challenging litigation climate. The company’s underwriting decisions have led to a decrease in gross premiums as they prioritize rate adequacy over unprofitable business. Positive…

Gold Price and AnalysisGold prices have topped $2050 for the first time since February 2Both headline and Core PCE inflation readings came in lower, as forecastHopes for lower rates in the year’s second half remain intactLearn how to trade gold with our complimentary guide Recommended by David Cottle How to Trade Gold Gold Prices rose on Thursday following the release of a mixed bag of important economic numbers out of the United States.Perhaps the most important of these was the inflation snapshot in the Personal Consumption Expenditures series. This is known to be among the Federal Reserve’s favored pricing measures,…

US Dollar Index Price and AnalysisCore PCE at 2.8% in line with market forecasts.Dollar Index finding support from the 200-day simple moving average. Recommended by Nick Cawley Get Your Free USD Forecast For all economic data releases and events see the DailyFX Economic CalendarThe US Dollar Index slipped a fraction lower earlier after US PCE data met market expectations. The Federal Reserve’s preferred measure of inflation was seen at 2.8% in January, down from 2.9% in December. On a month-on-month basis, Core PCE rose by 0.4% in January compared to a prior month’s 0.2%. Initial jobless also hit the screens…

Prior month 2.9%PCE core MoM x.x% vs 0.4% expectedPrior MoM core 0.2%Headline PCE x.x% vs 2.4% expected (prior 2.6%)Full report click hereConsumer spending and consumer income for January:Personal income 1.0% versus 0.4%. Prior month 0.3%.Personal spending x.x% versus 0.2% expected. Prior month 0.7%Real personal spending x.x% vs 0.5% last month.1 minute prior to the report:Markets were pricing 78 bps of cuts in 2024. 2- year yield was at 4.689%. 10 year yield was at 4.311 billion %S&P index or implying a decline of -16.01 pointsNASDAQ index was implying a decline of -46.75 points This article was written by Greg Michalowski…

First Advantage Non-GAAP EPS of $1.00 beats by $0.70, revenue of $763.8M beats by $552.66M Source link

EUR/USD News and Analysis Recommended by Richard Snow How to Trade EUR/USD German Unemployment Rate Ticks HigherThe country dubbed ‘the sick man of Europe’ has noted a slow but steady rise in unemployment as the continent’s largest economy sheds more jobs. In fact, the Federal Labour Office confirmed that there are 11,000 more people looking for work which beat the estimate of 7,000. The government warned of slowing momentum in the jobs market in the first few months of 2024 and also revised its full year growth forecast from 1.3% to 0.2%.The government agency added that the “weak economic environment…