Author: FX
By Jeff Mason and Matt Spetalnick WASHINGTON (Reuters) -President Joe Biden said on Monday that Israeli Prime Minister Benjamin Netanyahu was not doing enough to secure a deal for the release of hostages held in Gaza by Hamas and the U.S. was close to presenting a final proposal to negotiators working on a hostage and ceasefire agreement. Biden was speaking to reporters at the White House after Israeli forces over the weekend recovered the bodies of six hostages, including 23-year-old American-Israeli Hersh Goldberg-Polin, from a tunnel in Gaza. Israel’s military said they had been recently killed by Palestinian Hamas militants.…
With the US on holiday, European traders had little incentive to get markets moving today. There was some early selling that recovered for a flat close.Stoxx 600 flatGerman DAX +0.1%Francis CAC +0.2%UK’s FTSE 100 -0.2%Spain’s IBEX flatItaly’s FTSE MIB -0.1%I would expect price action to perk up tomorrow and September is typically a volatile month. This article was written by Adam Button at www.forexlive.com. Source link
EUR/USD recovers as the chances remain quite high that the Fed might have to make steep cuts to interest rates. The Euro gains support as interest rates in the Eurozone could stay higher for longer due to persistent wage inflation. EUR/USD trades marginally higher in the 1.1060s on Monday, as the Euro (EUR) strengthens against the US Dollar (USD) on the back of still-high probabilities the Federal Reserve (Fed) could implement a sharp cut in interest rates at their September meeting. This, in turn, weighs on the USD because lower interest rates make it less attractive to foreign investors, lowering capital inflows. The…
(Reuters) – Market values of major tech firms declined in August amid concerns over escalating artificial intelligence infrastructure costs and rising recession risks that would make the stocks particularly vulnerable during a market correction. Last month, Alphabet (NASDAQ:) Inc’s lost 4.7% of its market value as a slowdown in YouTube’s advertising sales fuelled concerns about its earnings. A U.S. judge’s ruling that Google had violated antitrust laws and the emergence of new competition from OpenAI, which is developing an AI-based search engine prototype, also contributed to its shares’ decline. Amazon.com Inc (NASDAQ:)’s market value fell 4.5%, affected by slowing online…
Rate cuts by year-endFed: 99 bps (69% probability of 25 bps rate cut at the upcoming meeting) ECB: 58 bps (98% probability of 25 bps rate cut at the upcoming meeting) BoE: 39 bps (78% probability of no change at the upcoming meeting) BoC: 75 bps (79% probability of 25 bps rate cut at the upcoming meeting) RBA: 19 bps (94% probability of no change at the upcoming meeting)RBNZ: 72 bps (79% probability of 25 bps rate cut at the upcoming meeting) SNB: 51 bps (70% probability of 25 bps rate cut at the upcoming meeting) Rate hikes by year-endBoJ:…
Here is what you need to know on Monday, September 2: Major currency pairs fluctuate in narrow channels at the beginning of the week. The European economic docket will feature revisions to August HCOB Manufacturing and Services PMI data for the Eurozone, Germany and the UK. Financial markets in the US and Canada will remain closed in observance of the Labor Day holiday. US Dollar PRICE Last 7 days The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the Japanese Yen. USD EUR GBP…
I’m seeing a textbook break and retest situation on the daily chart of EUR/CAD! Will this potential support zone still hold or will we see a breakout this time? EUR/CAD Daily Forex Chart by TradingView Last week’s crude oil rally propped the commodity-related Loonie higher against most of its forex peers, allowing EUR/CAD to retreat from its 1.5200 highs. The pair is down to the 50% Fibonacci retracement level on its latest upswing seen on the daily time frame. A larger correction could reach the 61.8% Fib, which is also around a former resistance area and the rising trend line…
TAT Technologies (NASDAQ:TATT) on Monday said it has received and accepted commitments from Israeli institutional and accredited investors, to participate in a private placement of ordinary shares of the company. The company is expected to issue and sell to the investors an aggregate of 673,340 ordinary shares, for a purchase price of NIS 54.95 per share. The newly issued shares are expected to represent about 6.2% of the company’s issued and outstanding ordinary shares after the consummation of such sale. The closing of the transaction is expected to be completed in September 2024. The company expects to receive net proceeds…
USD/CHF is fast approaching a potential resistance zone ahead of the release of closely watched U.S. labor data. Will the pair extend its trend in the next few days? If you missed last week’s FX recap, you should know that the U.S. dollar regained some pips after positive U.S. reports eased concerns about a “hard landing” or even a recession in the U.S. On the other hand, the safe haven Swiss franc was knocked lower by improved risk appetite when Middle East tensions didn’t escalate and when economic reports eased global growth concerns. This Article Is For…
This dollar pair seems to have hit a bottom after last week’s somewhat positive U.S. data releases. Can it keep climbing during the release of the August ISM manufacturing PMI? Expectations are for a slight improvement in the index, although the reading is still likely to reflect industry contraction. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link