Author: FX

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…

Australian chemical company Orica (OTCPK:OCLDF) (OTCPK:OCLDY) said Tuesday it agreed to acquire U.S. sodium cyanide producer Cyanco from Cerberus Capital Management for US$640M, in an effort to expand its geographical reach in mining chemicals. Cyanco produces NaCN, a specialized chemical required for gold processing, at its U.S. plants in Nevada and Texas, and supplies it primarily to gold mining industries across parts of the Americas and Africa. Orica (OTCPK:OCLDF) (OTCPK:OCLDY) said the addition of Cyanco’s two manufacturing plants will more than double its sodium cyanide production capacity. The Australian company said it expects the acquisition will be accretive to earnings…

2/2 © Reuters. Algeria’s Ambassador to the United Nations Sofiane Mimouni speaks before a vote on a U.N. Security Council resolution to demand an immediate humanitarian ceasefire in Gaza, amid the ongoing conflict between Israel and Hamas, at U.N. headquarters in New 2/2 By Michelle Nichols UNITED NATIONS (Reuters) -The United States on Tuesday again vetoed a draft United Nations Security Council resolution on the Israel-Hamas war, blocking a demand for an immediate humanitarian ceasefire as it instead pushes the 15-member body to call for a temporary ceasefire linked to the release of hostages held by Hamas. Thirteen council members…

Via a note on Tuesday, UBS confirms its lifted its S&P 500 year-end target to 5,400revised its 2024-2025 earnings outlook, increasing the 2024-25 EPS estimates from $235 to $240, and $250 to $255Re sectorssays Health Care remains their preferred choice within defensive investmentshighlight potential in cyclical sectors due to ongoing economic resiliencefinancial sector stands on a few fronts; from increasing interest rates, a possible rebound in mergers and acquisitions (M&A) activity, and relaxed lending criteriaTuesday was an interesting one, mainly one-way traffic (lower) This article was written by Eamonn Sheridan at www.forexlive.com. Source link

Share: EUR/USD climbed above 1.0800 early Tuesday, testing the 1.0840 region. Broad market US Dollar sell-off props up the Fiber. Markets await Fed Meeting Minutes, EU PMIs. EUR/USD climbed to a two-week high just shy of 1.0840 on Tuesday after the US Dollar (USD) broadly fell before recovering in the US trading session after American markets returned to the fold following an extended weekend. EUR/USD reclaimed the 1.0800 handle for the first time in a week as the pair grapples with jump-starting a bullish recovery. Markets are gearing up for the latest Meeting Minutes from the Federal Reserve’s…

On Thursday, we’ll see some of the first manufacturing and services business surveys for the month of February, including the latest business sentiment from the U.K.! What are the markets expecting and how may the PMI release affect GBP’s price action? 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

Western Asset Intermediate Municipal Fund goes ex dividend tomorrow Source link

Most Read: US Dollar Forecast – Bullish Bias Remains in Place, Setups on EUR/USD, USD/JPYGold (XAU/USD) rose for the fourth straight session on Tuesday (+0.50% to $2,027), firmly establishing itself above the $2,025 mark, supported by declining U.S. Treasury yields and a subdued U.S. dollar, with risk-averse sentiment on Wall Street likely reinforcing the metal’s advance.Factoring in recent gains, XAU/USD has risen more than 2% from last week’s lows near $1,985 set in the wake of hotter-than-anticipated U.S. inflation numbers. Despite this positive performance, the Federal Reserve’s monetary policy trajectory could cap gold’s upside in the near term, so caution…

© Reuters. Marcelo Montenegro, Minister of Economy of Bolivia, holds a press conference, in La Paz, Bolivia February 20, 2024. REUTERS/Claudia Morales By Monica Machicao LA PAZ (Reuters) – Bolivia’s government set out on Tuesday a package of measures to spur investment and exports as it seeks to reverse a worsening dollar scarcity that has left shelves empty and workers unpaid. The government of President Luis Arce said its plan, agreed with businesses, would aim to cut red tape for exports, increase investment in grains production, make diesel imports easier, and allow bigger trucks on the roads. Reserves have plunged…

Oil (Brent Crude, WTI) AnalysisChina adds further support to the ailing economyBrent crude oil drops at prior swing low, propped up by the 200 SMAWTI oil oscillates around key, long-term trend filterThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade Oil China Adds Further Support to the Ailing EconomyIn the early hours of Tuesday morning it was confirmed that the 5-year loan prime rate dropped by more than expected, in yet another show of support for not only…