Author: FX

By Johann M Cherian (Reuters) -Nasdaq and pared early losses and edged higher on Thursday after AI chip firm Nvidia (NASDAQ:)’s largely in-line forecasts, while markets remained hopeful of upcoming interest rate cuts with economic data on tap later in the day. The chip bellwether’s shares fell 2% in premarket trading following largely in-line revenue and gross margin forecasts for the current quarter. “Here’s the issue, the size of the beat this time was much smaller than we’ve been seeing. Even future guidance was raised, but again not by the tune from previous quarters,” said Ryan Detrick, chief market strategist…

Shares in Remy Cointreau and Pernod Ricard both up about 8%, after China’s Commerce Ministry says will not impose provisional anti-dumping subsidy on brandy imported from EU. This article was written by Arno V Venter at www.forexlive.com. Source link

Here is what you need to know on Thursday, August 29: Major currency pairs turn quiet early Thursday as investors move to the sidelines ahead of key macroeconomic data releases. Later in the European session, Germany’s Destatis will publish preliminary Consumer Price Index (CPI) data for August and the US Bureau of Economic Analysis will release the second estimate of the annualized Gross Domestic Product (GDP) growth for the second quarter. The US economic docket will also feature weekly Initial Jobless Claims figures and Pending Home Sales data for July. US Dollar PRICE This week The table below shows the…

By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – A key Asia stock index has gained its biggest lift in earnings projections in more than three years, as the region’s semiconductor firms benefit from the boom in generative artificial intelligence. Also helped by robust second-quarter results across a wide range of industries, the average of 12-month earnings per share forecasts for companies in the MSCI Asia Pacific index climbed 3.9% over the past month, according to LSEG IBES data that collates analysts’ estimates. It was a particularly sharp jump after downward revisions and smaller increases for the first seven months of…

A lack of major data releases kept traders focused on overall risk sentiment and positioning ahead of this week’s anticipated data releases. Commodities like gold and oil weakened further, while the U.S. dollar gained ground against most of its counterparts. Check out which headlines made waves among the major assets! Headlines: Australia’s inflation cooled to multi-month lows but remained sticky high in July Australia quarterly construction work for Q2 2024: 0.1% (0.8% expected, -2.0% previous) BOJ Deputy Gov. Ryozo Himino signaled readiness for further rate hikes but hinted that they may not be imminent Swiss UBS economic expectations fell from…

The top of the descending triangle held as resistance for crude oil this week, putting the commodity back on track to test the bottom. Will support hold once more? Check out these nearby inflection points I’m watching on the 4-hour chart: WTI Crude Oil (USOIL) 4-hour Chart by TradingView Remember that triangle resistance we were eyeing on WTI crude oil last time? Well, it looks like bears were waiting to jump in right there, as the ceiling held and kept the commodity in consolidation, even after geopolitical tensions flared a few days back. So far, the lack of counterattacks in…

Prior month 27.1Own activity 37.1 versus 16.3 last month. 7-year highExperienced own activity rose 1 point to -21, remaining weak.Confidence and activity expectations were high even before the Reserve Bank’s OCR cut.Pricing intentions increased 3 points to 41% of firms planning price hikes in the next three months.Planned price increase rose from 1.4% to 1.6%.Inflation expectations fell from 3.2% to 2.9%, the first sub-3% reading since July 2021.The 50.7 is the highest since May 2014This is a strong number. Below are the different components. This article was written by Greg Michalowski at www.forexlive.com. Source link

The KDJ Indicator, also sometimes referred to as the Stochastic Oscillator or simply “KD,” is a technical analysis tool specifically designed for the MT5 trading platform. It helps traders gauge market momentum and identify potential overbought and oversold zones, ultimately aiding in making informed trading decisions. A Brief History of the KDJ Indicator The KDJ Indicator’s origins trace back to the early days of technical analysis. Developed by George Lane in the 1950s, it was initially intended for analyzing the futures market. However, its effectiveness and intuitive nature quickly led to its widespread adoption across various asset classes, including stocks…

The Price Volume Trend (PVT) combined with the True Strength Index (TSI) and Moving Average Convergence Divergence (MACD) form a potent strategy in the forex trading world. These indicators provide traders with essential tools to analyze market dynamics comprehensively, integrating price trends, volume insights, and momentum shifts. The Price Volume Trend (PVT) indicator, created by Joseph Granville, enhances traditional price analysis by incorporating trading volume. This dual approach offers traders a deeper understanding of market sentiment and potential trend reversals, crucial for making informed trading decisions. Pairing the Price Volume Trend (PVT) with the True Strength Index (TSI) and Moving…

WTI price loses ground near $75.15 in Thursday’s early Asian session.  Soft demand in China weighs on the WTI price.  The threat of supply disruptions in Libya and Middle East geopolitical risks might cap the downside.  West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $75.15 on Thursday. The WTI price edges lower as investors are concerned about slower economic growth in China. However, oil supply risks in the Middle East and Libya might help limit the WTI’s losses.  The sluggish economy and slowing oil demand in China raise the fear of the economic health of the world’s…