Author: FX

US Dollar and Gold Analysis, Prices, and ChartsMarch rate cut probabilities are cut back sharply as Powell continues to look at data.Gold prints a sixth successive higher low despite dampened rate expectations.Learn How to Trade Gold with our Expert Guide: Recommended by Nick Cawley How to Trade Gold Most Read: Markets Week Ahead: Fed and BoE Decisions, US Jobs Data, Microsoft, Apple Amazon ReportFederal Reserve Chair Jerome Powell tempered market rate cut expectations yesterday, saying that the central bank needed greater confidence that inflation would hit target adding, ’I don’t think it’s likely that we’ll reach a level of confidence…

The FOMC statement and presser sure did a number on major USD pairs! Will talks of a Fed rate hike continue to push XAU/USD higher for the rest of the week? In case you missed it, the Fed officially dropped hints of tightening plans in its January statement. While Governor Powell and his gang remain worried that inflation is “still too high,” they also think that So, it looks like the Fed’s next move is getting interest rates lower instead of higher. Does that mean a rate cut in March? Powell said in his presser that…

Prior 43.0The Swiss manufacturing sector continues to struggle as output is once again seen declining. Of note, delivery times are seen increasing and may reflect a risk to supply chains amid the Red Sea situation. Here is the breakdown of the components for the main index: This article was written by Justin Low at www.forexlive.com. Source link

After breaking out of its range, this equity index is finally showing signs of a correction. Is this our chance to join the trend? Take a look at the potential pullback levels I’m watching on the 4-hour time frame. S&P 500 Index (SPX500) 4-hour Chart by TradingView Thanks to the tech sector rally a few days back, the S&P 500 index managed to bust through the resistance around 4,800! However, a slew of downbeat earnings reports plus a somewhat hawkish FOMC statement this week triggered a flight to safety and profit-taking from recent equity rallies. As it turns out, the…

© Reuters. Investing.com– Asian stocks were a mixed bag on Thursday, taking a weak lead-in from Wall Street after the Federal Reserve shot down expectations for interest rate cuts coming as soon as March 2024. Japan’s and Australia’s indexes were the worst performers for the day, losing between 0.8% and 1% as dampened risk appetite saw traders lock-in recent profits. The Nikkei pulled away from a 34-year high, while the ASX 200 lost sight of a record peak. Weakness in Japanese stocks was also driven by hawkish signals from the Bank of Japan. A recent summary of opinions from the…

How did Uncle Sam’s job market fare at the beginning of this year? Can the January 2024 non-farm payrolls report still change the Fed’s policy bias and ongoing dollar trends? Here’s what you need to know about the upcoming U.S. NFP release. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.PBOC injects 43bn via 7-day RR, sets rate at an unchanged 1.8%466bn yuan of RRs mature todaythus a net 423bn yuan drain on the day in OMOs This article was written by Eamonn Sheridan at www.forexlive.com. Source link

sshepard/iStock Unreleased via Getty Images Norfolk Southern (NYSE:NSC) +5.3% post-market Wednesday following a Wall Street Journal report that an investor group led by Ancora Holdings has built a ~$1B stake in the railroad and nominated a majority slate of directors to the company’s board in an attempt to oust CEO Alan Shaw. Norfolk Southern (NSC) reportedly has met with the Ancora-led group in recent weeks, and the group’s board nominees are said to have addressed a number of issues including how the company handled last year’s big train derailment in Ohio and what they see as Shaw’s failure to hit…

Share: Foreign Bond Investment in Japan saw inflows of ¥382.9 billion for the week ended January 26, up from the previous week’s outflows of ¥-43.5 billion (revised up from ¥-48.0 billion), but still well below January’s peak inflows of ¥1.689 trillion. Foreign Investment in Japanese Stocks also rebounded for the week ended January 26, climbing to ¥720.3 billion versus the previous week’s ¥287 billion (revised slightly from ¥286.7 billion), but likewise down sharply from January’s peak of ¥1.202 trillion. Market reaction USD/JPY caught a slight bid to push the pair back into the 147.00 handle heading into the Thursday market session after USD/JPY traders got…

Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Fed Holds Steady, Ditches Tightening Bias; Gold and US Dollar on the MoveThe Federal Reserve on Wednesday concluded its first monetary policy meeting of the year, voting to maintain borrowing costs unchanged at their present 5.25% to 5.50% range, in a decision widely expected by market participants.The FOMC also dropped its tightening bias, but signaled that it is not yet ready to ease its stance imminently. Powell went further during his post-meeting press conference, admitting that…