Author: FX
Local CPI Key Takeaways:1. Consumer inflation in South Africa increased in January 2024, driven by rising prices for food, housing, utilities, transport, and miscellaneous goods and services.2. The annual consumer price inflation rate was 5.3% in January 2024, up from 5.1% in December 2023.3. The main contributors to the annual inflation rate were food and non-alcoholic beverages, housing and utilities, miscellaneous goods and services, and transport.4. Food and non-alcoholic beverages saw a year-on-year increase of 7.2% and contributed 1.3 percentage points to the overall inflation rate.5. The inflation rate for goods was 6.6% in January 2024, while for services it…
Japanese Yen Prices, Charts, and AnalysisJapan’s exports hit a record high in January.USD/JPY back in the danger zone.Download our complimentary Q1 Japanese Yen guide below Recommended by Nick Cawley Get Your Free JPY Forecast A weak Yen helped Japanese exports boom in January with the latest trade data showing overseas sales soaring to a record high. Exports increased by 11.9% to 7.33 trillion Yen, while imports fell by 9.6%. Today’s data revealed that the country’s deficit is now half the level seen one year ago, down from JPY 3.51 trillion to JPY 1.76 trillion. In January 2023, USD/JPY traded around…
Share: AUD/USD has made some gains recently to come close to the 0.6600 level. Economists at Commerzbank analyze the pair’s outlook. The RBA will probably stick to its restrictive stance Unless there are surprises in terms of inflation and growth, the RBA will probably stick to its restrictive stance for the time being. Unlike other major central banks, interest rate cuts are unlikely to be an issue for the time being. This should support the AUD. However, developments in China remain a risk factor that should be kept in mind. Source link
AISC for 2024 are expected to be between US$1,450 and US$1,650 per oz of gold sold.Sustaining capital, not including waste stripping, is estimated at C$30 million (US$23 million) for 2024.Growth capital related to Eagle Gold Mine expansion initiatives is estimated at C$15 million (US$11 million) for 2024 and includes heap leach pad expansion. In addition, growth exploration spending in 2024 is estimated to be C$10 million (US$8 million). Source link
© Reuters. FILE PHOTO: A screen tracks NVIDIA Corp. as a trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. REUTERS/Brendan McDermid/File Photo A look at the day ahead in European and global markets from Ankur Banerjee Investors are holding their breath for perhaps the most influential earnings in a long while, with the poster child of the AI boom, Nvidia (NASDAQ:), set to report another blockbuster quarter. And yet investors, who have seen the stock skyrocket in the past 18 months on the back of AI frenzy, may…
NZD/JPY has been cruising above an ascending trend line, and it looks like the uptrend might keep picking up steam. Just how high can it go from here? Take a look at these nearby levels I’m watching. 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
EUR/USD is testing the top of its downtrend pattern! Will we see an upside breakout this week? A quick look at the forex calendar tells us that traders are expecting tomorrow’s Euro Area manufacturing and services PMIs to reflect slight improvements from January to February. Of course, EUR/USD’s levels after the PMI releases will partly depend on its reaction to the FOMC meeting minutes coming up today at 7:00 pm GMT. Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie homework on the U.S. dollar and the…
Toyota says negotiations with its labour union will continue. The first round of talks concluded on Wednesday. These spring wage negotiations are being awaited by the Bank of Japan. The Bank wants to see solid wage rises to help cement inflation in place ‘stably and sustainably’. Only then will the Bank consider tightening policy. Bank of Japan officials say inflation has so far has been driven by cost-push factors. Gains in wages would support ‘demand-pull’ inflation.Cost-push inflation and demand-pull inflation are two types of inflation that arise from different economic factors. Here’s a comparison between the two:Causes:Cost-Push Inflation: Cost-push inflation…
Share: EUR/USD could test the resistance zone around the 50-day EMA and a three-week high. A break above the major level of 1.0850 could lead the pair to reach a 38.2% Fibonacci retracement at 1.0864. Technical indicators suggest a momentum shift towards an upward direction. EUR/USD continues its winning streak that began on February 14 as the US Dollar (USD) receives downward pressure, which in turn, underpins the EUR/USD pair. The pair edges higher around 1.0810 during the Asian session on Wednesday. The EUR/USD pair could rise to test the immediate resistance zone around the 50-day Exponential Moving…
Most Read: Gold Prices on the Rise, Confluence Resistance in Sight. What Now for XAU/USD?The U.S. dollar fell modestly on Tuesday on the back of subdued U.S. yields in a session lacking significant drivers. Volatility in the FX space, however, may accelerate later in the week, courtesy of a high-impact event on the U.S. calendar on Wednesday: the release of the FOMC minutes.The minutes will surely provide a greater degree of clarity regarding the central bank’s assessment of the inflation outlook and the possible timing of the first rate cut, so traders should parse and analyze the document closely.Based on…