Author: FX
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© Reuters. Australia stocks higher at close of trade; S&P/ASX 200 up 0.13% Investing.com – Australia stocks were higher after the close on Tuesday, as gains in the , and sectors led shares higher. At the close in Sydney, the added 0.13%. The best performers of the session on the were Reece Ltd (ASX:), which rose 19.22% or 4.63 points to trade at 28.72 at the close. Meanwhile, Appen Ltd (ASX:) added 13.10% or 0.06 points to end at 0.47 and G8 Education Ltd (ASX:) was up 12.05% or 0.14 points to 1.26 in late trade. The worst performers of…
Check out this textbook break-and-retest setup lining up on NZD/USD! Will this confluence of support zones keep holding? Here are the levels I’m watching on the 4-hour time frame. NZD/USD 4-hour Forex Chart by TradingView This week is shaping up to be an exciting one for Kiwi traders since the RBNZ interest rate decision is coming up! Even though no actual policy changes are expected for now, hawkish bets remain in play since inflation and employment have been runnin’ hot in New Zealand. And if policymakers do maintain their upbeat view, it would set the RBNZ apart from other central…
The surge in Bitcoin in the past 24 hours or so has been attributed to buying from Microstrategy.Adam had this info on Monday US time, but ICYMI:Bitcoin breaks the range to hit $53,000 for the first time since 2021More:Microstrategy bought around $155mn of BTCbought around 3000 BTC between February 15 and 25price was around 51813 USDthe firm (and subsidiaries) now holds around 193K BTCNow, all the above is merely an elaboration on the ‘more buyers than sellers’ explanation. Which the pedants hate, but price responds to demand and supply, and here we are.A more ‘fundamental’ reason is the impending halvening,…
In this strategy, we will be combining both price action trading and technical indicators. We will use the Zigzag indicator as a means to simplify our price action trading and identify the support and resistance trendlines that would form a channel. We will also be using the Stochastic Oscillator to spot when momentum has reversed for a more precise trade entry. Trendlines and Channels When trading based on price action, you would notice that price tends to oscillate up and down the price chart on pulses or waves. These price movements create peaks and dips. Some would call it pivot…
Share: The Japanese Yen attracts some buyers following the release of consumer inflation figures from Japan. The USD hangs near a multi-week low amid sliding US bond yields and also exerts pressure on USD/JPY. The downside seems limited ahead of this week’s key US macro releases, including the PCE Price Index. The Japanese Yen (JPY) strengthens a bit against its American counterpart during the Asian session on Tuesday and reverses a part of the previous day’s losses back closer to the YTD low touched earlier this month. Consumer inflation in Japan fell slightly less than expected in January…
Most Read: US Dollar Eyes US PCE for Cues on Fed Path; EUR/USD, USD/CAD, USD/JPY SetupsGold prices lost ground on Monday following a strong performance last Friday, pressured by rising U.S. Treasury yields – a situation that generally diminishes the appeal of the non-interest-bearing asset relative to fixed-income securities. In this context, XAU/USD finished the session around $2,030, slightly below a confluence resistance zone near $2,035.Many investors appeared to adopt a wait-and-see approach on the precious metal at the start of the new week, refraining from making large directional bets for fear of being caught on the wrong side of…
SlavkoSereda/iStock via Getty Images The U.S. Department of Energy announced Monday its latest solicitation for another 3M barrels of crude oil for the Strategic Petroleum Reserve, as it gradually replenishes the SPR after selling a record amount of oil from the inventory in 2022 in an attempt to control gasoline prices after Russia’s invasion of Ukraine. The DoE said the solicitation is part of its strategy of buying oil at $79/bbl or less, below the average $95/bbl it received when making emergency sales from the SPR in 2022; the agency said it has so far bought 23.1M barrels of oil…
© Reuters. FILE PHOTO: A China Eastern Airlines aircraft and Shanghai Airlines aircraft are seen in Hongqiao International Airport in Shanghai, following the coronavirus disease (COVID-19) outbreak, China June 4, 2020. REUTERS/Aly Song/File Photo WASHINGTON (Reuters) – The U.S. Transportation Department said on Monday it has agreed to allow Chinese airlines to boost the number of weekly flights to the U.S. to 50 starting March 31, up from the current 35. The department in its announcement that the approval “is a significant step forward in further normalization of the U.S.-China market in anticipation of the Summer 2024 traffic season.” Until…
The US dollar has ticked higher in the past hour as Treasury yields have fallen from the highs of the day. It’s been a mostly lacklustre day for equities and the S&P 500 is on track for a 0.3% decline.Treasury yields rose earlier after sales for 2s and 5s with the latter one the soft side and pushing yields to the daily extremes. There was also some concession for supply before the sales. The Fed funds futures market is now pricing in just 78 bps of cuts. When you factor in tail risks, that suggests real market pricing for cuts…