Author: FX
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…
Share: Markets churned on Thursday after mixed US PMI figures. Canada’s Retail Sales also spread. Friday to wrap up the week with Fed’s Monetary Policy Report. USD/CAD drifted into the low end early Thursday as markets geared up for the day’s US Purchasing Managers Index (PMI) print. Mixed results left markets a little less confident, and the pair traveled notable ground to wind up close to flat on the day. Canada saw a similar mixed result in its Retail Sales figures, with sales volumes excluding automobiles coming in below expectations. Next up on the economic calendar will be…
US Dollar (DXY) Latest Analysis and ChartsS&P PMIs – services miss, manufacturing improvesThe US dollar holds earlier gains.The US service sector slowed down in February, while the manufacturing sector picked up, the latest flash PMIs showed today. According to data provider S&P Global,‘US companies continued to report an expansion in activity during February, albeit at a slower pace. Output rose marginally as a softer uptick in services business activity weighed on overall growth. Manufacturing, meanwhile, saw a renewed increase in production amid an improvement in supply chains after adverse weather in January.’Commenting on the data, Chris Williamson, Chief Business Economist…
Nvidia Earnings, S&P 500 AnalysisNvidia earnings surpass estimates and issues positive outlook for Q1 2024Nvidia set to open at new all-time high after earnings beatS&P 500 likely to ride the wave higher on Nvidia optimism potentially testing the all-time high Recommended by Richard Snow Get Your Free Equities Forecast Nvidia Earnings Surpass Estimates and Issues Positive Outlook for Q1 2024Nvidia announced its earnings for the three month period ending 32 December 2023 after market close yesterday and surprised already lofty estimates. Earnings per share (EPS) – a common metric of growth and shareholder compensation – surprised the market by rising…
Oceanagold Non-GAAP EPS of $0.01, revenue of $267.3M Source link
BigCommerce (NASDAQ:BIGC) Exceeds Q4 Expectations But Full-Year Guidance Underwhelms E-commerce software platform provider BigCommerce (NASDAQ: BIGC) reported Q4 FY2023 results exceeding Wall Street analysts’ expectations, with revenue up 16.2% year on year to $84.15 million. On the other hand, next quarter’s revenue guidance of $77 million was less impressive, coming in 4% below analysts’ estimates. It made a non-GAAP profit of $0.09 per share, improving from its loss of $0.10 per share in the same quarter last year. Is now the time to buy BigCommerce? Find out by reading the original article on StockStory. BigCommerce (BIGC) Q4 FY2023 Highlights:Revenue: $84.15…
Gold Price (XAU/USD) Analysis and ChartGold looks set for a sixth straight session of gainsConflict in Ukraine and Gaza underpins the marketThe prospect of lower interest rates, albeit not imminently, is helping tooDownloadour free Q1 Gold Technical and Fundamental Forecast Recommended by David Cottle Get Your Free Gold Forecast Gold Prices continued their run higher on Thursday, buoyed up by a little slide in the United States Dollar and the usual range of broad geopolitical risks that have tended to support the market.With conflict ongoing in Ukraine and Gaza, the oldest haven asset looks underpinned, even as the investment world…
Share: EUR/USD rises even as Fed Minutes reflected concerns over premature interest-rate cuts. Eurozone, German PMI data for February suggest improving activity in the services sector, but manufacturing lags. The US Dollar loses ground despite expectations of higher prolonged policy rates. S&P US PMI data, weekly Initial Jobless Claims, and Existing Home Sales are due on Thursday. The EUR/USD pair extends its winning streak for the seventh consecutive day on Thursday as the US Dollar (USD) weakens despite market expectations of prolonged higher interest rates by the Federal Reserve (Fed). The Federal Open Market Committee (FOMC) Minutes reflected…
GBP/USD Analysis and ChartsUK business activity continues to expand.GBP/USD buoyed by Sterling strength and US dollar weakness.Most Read: US Dollar Trims Losses After Fed Minutes Caution Against Early CutsDownloadour Complimentary Guide on How to Trade GBP/USD: Recommended by Nick Cawley How to Trade GBP/USD The latest S&P UK PMIs (February) showed UK private sector growth expanding ‘for the fourth consecutive month and at the fastest pace since May 2023.’Global Composite PMI – Actual 53.3 vs. Prior 52.9Global Manufacturing PMI – Actual 47.1 vs. Prior 47Global Services PMI Actual – 54.3 vs. Prior 54.3Commenting on today’s release, S&P chief business economist…
German, EU PMI AnalysisGerman PMI contracts sharply in FebruaryEU PMI data Mixed as France posts impressive numbers Recommended by Richard Snow Introduction to Forex News Trading German PMI Contracts Sharply in FebruaryGerman PMI data was always going to be under the microscope this week amid weak fundamentals and comments from the Bundesbank that Germany is likely already in a recession and the data supported that view.Flash German manufacturing PMI data for February sank to 42.3 from 45.5 but the surprise came via the fall from the lofty 46.1 expectation. The manufacturing sector has attempted a recovery since the sub-40 low…