Author: FX
Share: GBP/USD posts modest gains above the mid-1.2600s amid mixed US data The GBP/USD pair posts modest gains above the mid-1.2600s during the early Asian trading hours on Friday. The decline of the US Dollar (USD) provides some support to the major pair. At press time, GBP/USD is trading at 1.2663, adding 0.02% on the day. The US Initial Jobless Claims for the week ending February 17 fell to 201K from the previous weeks of 213K. Continuing Claims dropped to 1.862M, below expectations and the prior week. The report suggested the US labor market remains robust and might…
Most Read: Japanese Yen Forecast – Brighter Days Ahead; Setups on USD/JPY, EUR/JPY, GBP/JPYMarket participants will be on tenterhooks in the coming days ahead of a high-impact item on the U.S. calendar next week: the release of core PCE data – the Fed’s favorite inflation gauge. This crucial event on the agenda is likely to stir volatility within the FX space, so the retail crowd needs to be vigilant and ready for unpredictable price swings.In terms of consensus estimates, core PCE is projected to have risen by 0.4% in January, bringing the annual rate down to 2.7% from 2.9% previously,…
© Reuters. FILE PHOTO: A woman using a mobile phone walks behind a Singtel signage at their head office in Singapore February 11, 2016. REUTERS/Edgar Su/File Photo (Reuters) -Singapore Telecommunications (SingTel) said on Friday its third-quarter underlying net profit came in at the same level as last year, as weak local operations offset growth in its information technology and Australian telecom units. SingTel, Southeast Asia’s largest telecom company, said its underlying net profit for the quarter ended Dec. 31 was S$559 million ($416.45 million), same as last year. On a constant currency basis, underlying profit rose 1.5% from a year…
SlavkoSereda/iStock via Getty Images Crude oil futures closed higher Thursday, after the U.S. reported a smaller than expected weekly increase in domestic crude inventories, while U.S. natural gas turned lower a day after its biggest percentage gain since July 2022. The Energy Information Administration said U.S. commercial crude inventories rose by 3.5M barrels to 443M barrels for the week ended February 16, registering a build despite solid crude exports, ongoing refinery maintenance and firm crude imports – although the total was less than expected by many market watchers. U.S. crude inventories have climbed for four straight weeks as outages at…
Benefiting from the tailwind from the stronger US stock market, the Australia S&P/ASX index is trading up 0.54% at 7652.10. That nearly erases the decline coming into today for the trading week. The index is currently down -0.10%.The index is within shouting distance of the all-time high closing level of 7699.40. The high intraday level comes in at 7703.60 (reached February 2). This article was written by Greg Michalowski at www.forexlive.com. Source link
Share: EUR/USD tested fresh highs at 1.0888 before falling back. EU and US PMIs came in soft or mixed, giving bulls cause for pause. Friday to wrap up the week with German final GDP, Fed MPR. EUR/USD broke higher on Thursday, testing into its highest bids since the start of February before falling back into the 1.0800 region after European and US Purchasing Managers Index (PMI) figures softened or came in mixed on forecasts. The Pan-European Composite PMI ticked higher, but the Manufacturing component fell back once again, and US PMIs also gave a mixed showing. Friday brings…
Marathon Digital launches Bitcoin transaction submission service Slipstream Source link
© Reuters. A view of the U.S. Supreme Court building on the first day of the court’s new term in Washington, U.S. October 3, 2022. REUTERS/Jonathan Ernst/File Photo By Dietrich Knauth (Reuters) -The U.S. Supreme Court on Thursday allowed the Boy Scouts of America’s $2.46 billion settlement with sexual abuse victims to move forward, lifting a temporary pause imposed in response to an appeal by 144 former scouts who opposed the agreement. The court’s order supersedes one issued by Justice Samuel Alito on Feb. 16 temporarily freezing the settlement to give the full court more time to consider a Feb.…
JAPANESE YEN OUTLOOKThe Japanese yen has depreciated sharply this year, but there’s potential for its outlook to improve in the weeks to comeThe prospect of the Bank of Japan discontinuing negative rates early in the second quarter is likely to be supportive of the yenThis article offers a detailed analysis of the technical prospects for USD/JPY, EUR/JPY, and GBP/JPYMost Read: US Dollar Trims Losses After Fed Minutes Caution Against Premature Rate CutsThe Japanese yen has weakened significantly against its top peers in 2024 on Bank of Japan’s dovish position. While major central banks around the world have lifted rates aggressively…
USD/JPY is at the highs of the week, up 37 pips today to 150.65.USDJPY dailyEyes are on 150.88, which was the Feb 12 high. A break through that puts 152.00 squarely on the table and a challenge of the November 2022 and October 2021 double top.This pair is getting it from both sides. Fed cut pricing for this year is down to just 80 bps from upwards of 160 bps earlier this year. Consistently strong economic data has the market thinking the Fed will remain patient before lowering rates.On the JPY side, a suddenly struggling economy has some questioning whether…