Author: FX

Japanese Yen (USD/JPY) Analysis and ChartsUSD/JPY has ticked up for a second straight sessionHowever it remains confined to its broad trading rangeThe Fed isn’t expected to move on rates, but will it push back market views of when it might?Learn How to Trade USD/JPY with our Free Guide Recommended by David Cottle How to Trade USD/JPY The Japanese Yen is a little weaker against a United States Dollar benefitting from some general strength as markets await the Federal Reserve’s first interest-rate call of the year.That will be coming up after European markets wind down on Wednesday, at 1900 GMT. The…

Prior +3.7%Market index 202.5 vs 218.2 priorPurchase index 154.5 vs 174.3 priorRefinance index 445.6 vs 438.4 prior30-year mortgage rate 6.78% vs 6.78% prior This article was written by Justin Low at www.forexlive.com. Source link

FTSE 100, DAX 40, and S&P 500 Analysis and Charts​​​FTSE 100 continues to grind higher​The FTSE 100’s swift advance on Friday amid rallying luxury good stocks and general risk-on sentiment has slowed but the index remains bid ahead of Thursday’s Bank of England (BoE) monetary policy meeting. ​A rise above Tuesday’s 7,685 high would engage the 11 January high at 7,694 and also the mid-October high at 7,702.​Minor support below Friday’s high and Tuesday’s low at 7,653 to 7,642 can be found around the 12 December 7,609 high and at the 16 January 7,587 high.FTSE 100 Daily ChartRetail trader data…

Share: EUR/USD continues to drift a touch lower. Economists at OCBC Bank analyze the pair’s outlook. Market bets have shifted in favour of an earlier cut in April Market bets have shifted in favour of an earlier cut in April (more than 80% priced vs. <20% probability a week ago).  The risk of an earlier ECB cut and still contractionary PMI readings in Europe suggest that EUR may be biased to the downside for now unless the Fed takes a more dovish stance at the upcoming FOMC. Source link

AUD/USD, ASX 200 Analysis Recommended by Richard Snow Get Your Free AUD Forecast Australian inflation beat estimates for the final quarter of 2023, coming in at 4.1% vs 4.3% expected and lower than the prior 5.4%Customize and filter live economic data via our DailyFX economic calendarAUD/USD Turns Lower Ahead of FOMC Statement This EveningThe Aussie dollar eased against the US and Kiwi dollars as well as the Japanese yen after better-than-expected inflation data provided greater clarity on future rate cuts. The RBA has found dealing with inflation rather tricky, having to reinstitute rate hikes twice as price pressures proved difficult…

AUD/USD is flirting with an established range support ahead of the Fed’s event! Earlier today, Australia’s Q4 2023 CPI come in waaay lower than the markets had expected at a 3.4% annual rate after a 4.3% reading in Q3. A 3.4% y/y quarterly CPI marks a two-year low, yo! Not surprisingly, slower inflation upped the markets’ interest rate cut bets for the Reserve Bank of Australia (RBA). AUD lost pips against its major counterparts. AUD/USD, in particular, found extra pressure from China’s manufacturing PMI showing further contraction and the U.S. dollar gaining ground from traders staying in…

Nikada Japan (NKY:IND) +0.61%. Japan’s industrial output rises 1.8%; retail sales miss forecast in December Japan January consumer confidence index 38.0 vs 37.2 prior. China (SHCOMP) -1.48%. China January Manufacturing PMI 49.2 (vs. 49.2 expected) Services 50.7 (expected 50.6). Hong Kong (HSI) -1.68%. India (SENSEX) +0.74%. Traders focused on the interim Budget 2024-25 due Thursday, particularly regarding taxation of investment relating to the capital market. Australia (AS51) +1.06%. Australian Q4 headline CPI 4.1% y/y vs 4.3% expected. In the U.S. on Tuesday, all three major indexes ended mixed, after the JOLTS report showed an unexpected rise in job openings to…

© Reuters. FILE PHOTO: GSK (GlaxoSmithKline) logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration (Reuters) – GSK beat market estimates for fourth-quarter profit and sales on Wednesday, underpinned by a strong launch of its respiratory syncytial virus (RSV) vaccine Arexvy and steady demand for its shingles shot and HIV medicines. The British drugmaker reported a profit of 28.9 pence per share on sales of 8.05 billion pounds ($10.20 billion), compared with analysts’ average expectations of 28.63 pence profit on sales of 7.29 billion pounds, according to LSEG data. The results mark the first annual year without GSK’s…

Is Cable going for a bounce or a break? Both the pound and the dollar have top-tier announcements coming right up, so we might just see a burst of volatility in the next few trading sessions. Take a look at these nearby inflection points that the pair might test soon. GBP/USD 4-hour Forex Chart by TradingView Check out GBP/USD pacing back and forth between support around 1.2615 and resistance at the 1.2775 area since mid-December! Rangebound action has been the name of the game for most dollar pairs in the past weeks, as Fed policy expectations have been fickle. For…

Here is the breakdown of the index’s components:Overall livelihood: 36.5 (previously 35.7)Income growth: 39.7 (previously 39.6)Employment: 42.9 (previously 42.8)Willingness to buy durable goods: 32.8 (previously 31.4) This article was written by Justin Low at www.forexlive.com. Source link