Author: FX

Share: The XAU/USD retreated to $2,025 on Friday, registering losses of 0.40% on the day. Despite soft CPI revisions, the metal failed to gather traction. Daily chart indicators hint at a bearish bias, with RSI’s negative slope and MACD’s rising red bars suggesting selling momentum. In the four-hour chart, indicators appear flat hinting at a consolidation of losses. In Friday’s session, the XAU/USD was observed at a trading level of $2,025, marking a dip of 0.40%. Focus is set on next week’s Consumer Price Index (CPI) figures from January after the US downwardly revised the December figures, to…

Share: USD/MXN drops as revised US inflation data fuel expectations for Fed easing. US inflation adjustments show success in price control, leading to a weakened Dollar outlook. Banxico holds rates at 11.25%, with changes in policy statements indicating a careful stance on future adjustments. Federal Reserve officials continue to advocate for the appropriateness of current monetary policy. Mexican Peso (MXN) appreciated against the US Dollar (USD), set to finish the week with gains of 0.31%. Data from the United States (US) confirmed the downtrend on inflation remains in place, which could open the door for the US Federal…

Share: GBP/JPY finds itself at the top end of near-term technical resistance. Next week sees a hefty economic calendar showing for the UK. Japan GDP growth slated for next Thursday. GBP/JPY found itself back into familiar technical levels near 188.50 on Friday after an early-week bounce from the 186.20 region as the Pound Sterling (GBP) finds itself stepping over the Japanese Yen (JPY) that spent most of the week on the soft side. It was a thin economic calendar for both currencies this week, leaving the Guppy pair hamstrung as investors grapple with interest rate cut outlooks from…

Share: Silver gains 0.15% to $22.60, buoyed by a softer USD despite higher Treasury yields. Indications of bottoming out between $22.15-$22.50, hinting at a potential move towards $23.00. Death cross’ suggests bearish outlook; fall below support might aim for January low at $21.93, then $20.69. Silver price prints minimal gains of 0.15% on Friday even though US Treasury bond yields climbed. Nevertheless, the Greenback remains down, a tailwind for Silver prices, which trade at $22.60 after jumping from a low of $22.37. XAG/USD is downward biased but has bottomed out at around $22.15-$22.50, which has opened the door…

The broader US stock indices continued to plow forward with the S&P closing above 5K for the first time ever. The Nasdaq traded above 16K for the first time since November 2021 and is now within 67 points of a new all time high close. The Dow did fall today but as Chevron, Disney and Caterpillar move lower.The final numbers are showing:Dow industrial average fell -54.66 points or -0.14% at 38671.70S&P index rose 28.70 points or 0.57% at 5026.62NASDAQ index rose 196.94 points or 1.25% at 15990.65. It’s intraday high reached up to 16007.29. The all-time high closing level was…

RuudMorijn/iStock via Getty Images FirstEnergy (NYSE:FE) +3.7% in Friday’s trading after reporting better than expected Q4 adjusted earnings while FY 2024 earnings guidance topped Wall Street estimates at the midpoint. Q4 GAAP earnings swung to a profit of $175M, or $0.30/share, from a GAAP loss of $403M, or $0.71/share, in the year-earlier quarter, while revenues came in flat at $3.2B. FirstEnergy (FE) said it is abandoning its 2030 target for reducing greenhouse gas emissions because coal plants cannot be replaced in time. “We’ve identified several challenges to our ability to meet that interim goal, including resource adequacy concerns. Given these…

The price of oil is settling at $76.84. That is up $0.62 or 0.81% on the day. The high price reached $77.29. The low price was at $75.93.For the trading week, the prices soared 6.27% which comes after a -7.35% decline last week, and a 6.5% rise the week before. So price action has been up-and-down over the last few trading weeks.Looking at the weekly chart, the price low dipped below its 200-week moving average at $72.04. Looking at the chart below, the last 10 trading weeks has been skimming along that 200-week moving average with six of the 10…

© Reuters. FILE PHOTO: Nvidia’s Grace Hopper superchips are displayed at Gigabyte during COMPUTEX Taipei, one of the world’s largest computer and technology trade shows, in Taipei, Taiwan May 30, 2023. REUTERS/Ann Wang/File Photo By Max A. Cherney and Stephen Nellis SAN FRANCISCO (Reuters) -Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters. The dominant global designer and supplier of AI chips aims to capture a portion of an exploding market for custom AI chips and shield…

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…

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…