Author: FX

Trend warriors gather ’round! AUD/USD looks set to extend its downtrend as it consolidates near a key resistance zone. In case you missed it, the People’s Bank of China (PBOC) slashed its five-year loan prime rate by 25 bps to 3.95% earlier today. This marked the first interest rate cut since June 2023 AND the steepest cut since the rate was introduced in 2019. Meanwhile, not even the Reserve Bank of Australia’s (RBA) relatively hawkish meeting minutes was able to lend AUD a hand in the last couple of hours. AUD/USD 4-hour Forex Chart by TradingView Remember that directional biases…

© Reuters. FILE PHOTO: An Airbus A350-1000 flies during an aerial flying display ahead of the Singapore Airshow at Changi Exhibition Centre in Singapore, February 18, 2024. REUTERS/Edgar Su/File Photo By Lisa Barrington, Brenda Goh and Joe Brock SINGAPORE (Reuters) -Singapore on Tuesday kicked off Asia’s biggest air show – the first in six years unaffected by pandemic restrictions – as the global aviation industry grapples with a rebound in travel demand in the face of severe supply constraints. More than 1,000 companies from more than 50 countries are participating in the biennial commercial and defence-focused Singapore Airshow, led by…

China slashed its benchmark rate for mortgagesPBOC Rate CUT ___ (LPR): 1-year 3.45% (prior 3.45%) 5-year 3.95% (prior 4.20%)China’s largest ever cut to its benchmark reference rate for mortgagesOnshore yuan trades at its weakest against dollar since November last yearAnalysis via National Australia Bank:The size of the cut is impressive. It was larger than expected, and encouragingly it does show authorities are now really putting their words into actions. The PBoC in particular has stated its commitment to reinvigorating the economy, given those concerns around deflationary forces and a consumer that remains very subdued. The question of course is whether…

Share: On Tuesday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1068 as compared to Monday’s fix of 7.1032 and 7.2080 Reuters estimates. Source link

NoDerog Bayer AG (OTCPK:BAYZF) plans to shrink its dividend by 95% as it works to reduce debt. Bayer shares rose about 1% in Germany on Monday after the dividend cut was disclosed. The German healthcare and crop sciences conglomerate said it will reduce its dividend policy to pay out the legally required minimum for three years, according to a statement on Monday. Bayer will cut its dividend to 11 euro cents ($0.12) for fiscal year 2023, down from €2.40 the previous year. “One of our top priorities is reducing debt and increasing flexibility,” Bayer CEO Bill Anderson said in the…

5/5 © Reuters. A woman walks past apartment blocks that were destroyed in a Russian missile strike, amid Russia’s attack on Ukraine, in Selydove near Avdiivka, Ukraine, February 19, 2024. REUTERS/Thomas Peter 2/5 By Pavel Polityuk and Tom Balmforth KYIV (Reuters) – Ukraine’s military said on Monday its troops had taken up new defensive positions in the east after retreating from the captured town of Avdiivka and were repelling Russian attempts to develop the offensive thrust. Russia took full control of devastated Avdiivka after Kyiv’s troops withdrew over the weekend, handing the Kremlin its biggest battlefield advance since capturing the…

EUR/USD Analysis and ChartsEUR/USD inched lower in the European session.The overall downtrend in place all year remains dominant.Germany’s PMI data later this week could bring some movement.Learn how to trade EUR/USD with our complimentary guide Recommended by David Cottle How to Trade EUR/USD The Euro lost a little ground against the United States Dollar on Monday but, as the latter’s home market is going to be largely shut down for the Presidents’ Day break, the real trading action will probably come later in the week when the data releases start to trickle out.The first big one will be on the…

Share: Gold climbs to $2016.30, driven by US inflation surpassing forecasts, signaling ongoing price pressure. The diminished likelihood of imminent Fed rate cuts enhances Gold’s allure as the USD has weakened since last Tuesday. The decline in US Treasury and real yields underpin Gold’s surge with a rising TIPS yield reflecting higher safe-haven demand. Gold price extended its gains for three consecutive days after last week’s economic data from the United States (US) revealed that inflation remains above the US Federal Reserve’s (Fed) target. The Consumer Price Index (CPI) and the Producer Price Index (PPI) in January exceeded…

It is the President’s Holiday in the US, but the EURUSD is still trading. The forex market does not sleep. The price action today did find resistance in the Asian and early European session against the 100-day MA. Later the price found support against the 200-hour MA. So the levels are defined. Now traders need just wait for the break. This article was written by Greg Michalowski at www.forexlive.com. Source link

Japanese Yen (USD/JPY) Analysis Recommended by Richard Snow Get Your Free JPY Forecast Markets Still Eye April for Potential Rate HikeMarkets have not been deterred by the fact that Japan has entered into a recession, still indicating a high probability that the Bank of Japan will vote to hike interest rates by 0.1% to exit its long-standing negative interest rate policy.Source: RefinitivThe Bank’s preconditions for the historic hike involve a “virtuous relationship” between wages and prices. Inflation remains above the 2% target for well over a year now but has dropped in the last two prints, questioning whether price pressures…