Author: FX
NZD/JPY gained ground on Friday’s session, mildly to 89.95. The RSI holds near neutral territory, indicating a balance between buying and selling forces. The MACD shows flat green bars, suggesting that momentum is stabilizing. The NZD/JPY currency pair is consolidating sideways within a familiar range below 90.00. Technical indicators display mixed signals, with the Relative Strength Index (RSI) hinting at neutral sentiment and the Moving Average Convergence Divergence (MACD) showcasing a stabilizing momentum. The RSI, reflecting the momentum of price changes, currently sits just below 50. This reading suggests that neither buyers nor sellers have a clear advantage in the…
EUR/USD tipped into 1.1300 for the first time in over a year on Friday. Fed policymakers open the door to rate cuts during Jackson Hole. Coming up next week: key EU and US inflation prints. EUR/USD rallied into its second-best day of August, climbing seven-tenths of one percent as the US Dollar tumbles across the board. Market risk appetite is pinned into the ceiling after Federal Reserve (Fed) officials broadly tipped their hand to investors, signalling that the US central bank is finally ready to start cutting interest rates. Forecasting the Coming Week: Recession concerns take over Fed’s easing According…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Powell offered a lift to US stock markets but there was some mid-day angst along with signs of sector rotation into pro-cyclical small caps.Closing changes on the day:S&P 500 +1.2%Nasdaq Comp +1.5%DJIA +1.2%Russell 2000 +3.1%Toronto TSX Comp +1.1% (record high)On the week:S&P 500 +1.4%Nasdaq Comp +1.4%DJIA +1.3%Russell 2000 +3.4%Toronto TSX Comp +4.1%The S&P 500 is now just 0.6% away from the all-time high. This article was written by Adam Button at www.forexlive.com. Source link
Bitcoin has been lagging in the recovery from the broad market rout in the start of August, in part because of worries about the sale of Mt. Gox bitcoin. But it’s making up for lost time today, rallying nearly 5% and trading at a session high.The daily chart has a nice look as it breaks out of two weeks of consolidation to the upside with not much standing in the way of $68,000.Bitcoin daily Source link
Walmart CEO Doug McMillonThe great stock market turnaround in August was impressive in many ways but when I take a step back, there was one big question being asked and answered: Is the Fed behind the curve?Within that question is a set of assumptions about the US economy and if you look at the economic data, there was cause for concern. The ISM services index in June fell to the lowest since 2020, global commodity prices have been falling and US unemployment has been rising.A big boost for US stocks came on strong retail sales data but when I survey…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Almost everyone on the committee thinks inflation is coming down and that there will be multiple cuts over calendar 2024 and 2025Speed and size of cuts to be determined by economic dataNeutral rates are ‘far from where we are’There is some question on the strength of the consumer, that said if you look at the spending data, it’s been fairly robustHe’s been talking all day, nothing new here. This article was written by Adam Button at www.forexlive.com. Source link
DXY Index declines as investors favor riskier assets following Powell’s dovish speech. Powell hinted that the economic outlook is coming closer to the Fed’s goal. Markets have already priced in a September cut. The US Dollar (USD), measured by the US Dollar Index (DXY), resumed its decline on Friday, falling from below the 101.00 level due to a shift toward riskier investments. This shift was influenced by the dovish tone of US Federal Reserve (Fed) Chairman Jerome Powell’s speech at Jackson Hole. Despite concerns about decelerating job growth, Fed officials, including Powell, maintain positive views on the US labor market.…
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that the Fed has seen broad success in achieving its goals, and that inflation should continue to head towards the US central bank’s target range. Key highlights I support the Fed’s new focus on the job markets. Inflation is on a path to 2%. Policy is now at its tightest point of the entire hike cycle. Everything we wanted to happen to get rates down, has happened. By almost all measures, the job market is cooling. I don’t think inflation will get stuck above 2%. Source link