Author: FX
Share: The US Dollar rallies and holds on to gains after January’s US Jobs Report Traders see the Greenback head back into the green. The US Dollar Index pops over 103 and is on track to break 104 soon. The US Dollar (USD) is giving traders a run for their money with a brutal reversal in the US Jobs Report aftermath. The staggering print 353,000 was out of its league and contradicts with the more than double increase in US job cuts that was seen earlier on Thursday in the Challenger Job Cuts number for January. Though, the…
S&P 500 futures were up 36 points ahead of the non-farm payrolls report. They’re now dead flat.It’s certainly been a ride this week but stocks are now close to where they opened on Sunday. This article was written by Adam Button at www.forexlive.com. Source link
US Dollar and Gold Analysis Recommended by Nick Cawley Get Your Free USD Forecast The latest US NFP release showed the US jobs market in rude health with 353k new jobs created in January compared to forecasts of 180k. Last month’s headline figure was also revised higher to 333k from 216k. The closely watched unemployment rate remained steady at 3.7%.For all economic data releases and events see the DailyFX Economic CalendarThe US dollar was on the backfoot going into the Jobs Report as recent demand for US Treasuries sent their yields tumbling. Renewed US regional banking fears – shares in…
It’s a common misconception that expertise in a particular field, be it forex trading or sports, is simply an inborn trait that is possessed by an elite few. This line of thinking assumes that either you’re an expert or you’re not and that there’s no way for you to gain expertise if you’re just not born with it. While it’s true that some individuals are naturally gifted with traits or proficiency in certain fields (e.g.: height for basketball players or good eye-hand coordination for race car drivers), expertise is actually a development process that unfolds over time. This is what…
Share: USD/CAD remains below 1.3400. Economists at Scotiabank analyze the pair’s outlook. A push back to 1.3290/1.3300 should follow in the next 1-2 weeks Despite choppy price action since Wednesday, USD/CAD is still heading for a technically weak close on the week – below the 40-DMA (1.3398) retracement support (1.3403) and the noted 1.3540 double top trigger at 1.3415. The weekly candle chart also shows a likely bearish ‘engulfing’ line forming. A push back to the 1.3290/1.3300 (double top measured move target) should follow in the next 1-2 weeks (or sooner). Intraday support is 1.3350/1.3360. Resistance is 1.3390/1.3400.…
Aon Non-GAAP EPS of $3.89 misses by $0.17, revenue of $3.38B beats by $20M Source link
© Reuters. FILE PHOTO: An electronic board shows Shanghai and Shenzhen stock indices at the Lujiazui financial district in Shanghai, China, March 17, 2023. REUTERS/Aly Song/File Photo By Summer Zhen HONG KONG (Reuters) – Shares of WuXi AppTec Co Ltd and WuXi Biologics (HK:) (Cayman) tumbled on Friday as investor fears grew over a U.S. draft bill targeting Chinese biotech giants. Wuxi AppTec plunged 21.2% on Friday, hitting its lowest since August 2019, and Wuxi Biologics lost 20.7%, dropping to a five-year low. Wuxi AppTec’s Shanghai-listed stocks also fell by the daily price limit of 10%. A U.S. congressional committee…
Oil (Brent, WTI) Analysis Recommended by Richard Snow Get Your Free Oil Forecast OPEC+ Maintains Voluntary Output CutsOPEC+ has maintained its output cuts and will meet again in March to decide on output levels for Q2, according to two OPEC sources quoted by Reuters. The announcement comes at a time when oil prices have dropped lower since the spike high on the 29th of January around $84.Increased production from non-OPEC, oil producing nations has, in part, offset the effect of OPEC’s output cuts. The US has been at the forefront of the efforts to increase oil supply and in 2023…
In the past year, shares of Meta, Amazon, Apple, Nvidia, Alphabet, Microsoft, and Tesla have collectively soared more than 96%, leaving the 22.7% growth of the S&P 500 in the dust. Such impressive performance cannot continue forever unless these companies make another meaningful discovery (such as developing another artificial intelligence).In the meantime, one of the main risks for the top 7 stocks is that the corporate earnings growth train may slow with the global economy’s slowing. This has led analysts to downgrade their expectations for the Magnificent Seven.Take Amundi, a European asset management giant with $2 trillion under management. They…
Share: Indian Rupee extends the rally amid the decline in USD and the release of the India Budget 2024. India’s Finance Minister said the government will boost spending on infrastructure projects, build homes for poor villagers, and lower the fiscal deficit. Market players will closely watch the January US Nonfarm Payrolls, due on Friday. Indian Rupee (INR) trades in positive territory for the third consecutive day on Friday. The announcement of the India Budget 2024 by Finance Minister Nirmala Sitharaman provides some support to the INR. Minister Sitharaman said in her budget statement on Thursday that the government…