Author: FX
Saying that this week was an eventful one would still be an understatement, as market correlations were in flux and there was no shortage of big moves thanks to an action packed calendar…and a few surprises! From a handful of central bank announcements to major shifts in risk sentiment, there were plenty of swings across FX, equities, commodities, and crypto. Here’s a quick rundown of how it all went down. 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…
Crude oil futures are settling at $80.63. That is down $0.44 or -0.54%.The low for the day reached $80.42. The high was up at $81.45. For the trading week, the price is down -0.51% on a decline of $0.41. At session highs this week, the price was up $2.08. At session lows, the price was down $0.74.Looking at the weekly chart below, the high price this week at $83.12 briefly moved above its 100-week moving average at $83.27 before rotating back to the downside. Buyers had a shot. They missed. The low for the week was reached yesterday at $80.30.The…
Rapid DePIN scaling and the path to exponential Minutes Network growth London, United Kingdom, March 22nd, 2024, Chainwire Minutes Network, the world’s first blockchain-based wholesale, DePIN voice carrier, with its, unique close to zero termination cost model unveiled more of its innovative technology today, showcasing its proprietary Mintech Rapid Growth Library (MRGL), and its power to exponentially grow the Minutes Network user base with unprecedented pace. Josh Watkins, CEO said “The MRGL is housed in the Minutes Network SDK, and when this is integrated into a third-party mobile application, Minutes Network absorbs the application’s unique userbase. With the capacity to…
Lululemon Athletica plunges below $400 for first time in five months. Full-year guidance cut to $250 million below consensus. LULU stock halts fall near long-time support of $386.50. Q4 earnings and revenue arrive above consensus. Wall Street favorite Lululemon Athletica (LULU) stock took a punch to the gut on Friday after management’s 2024 revenue outlook underwhelmed analysts. The athleisure stock fell more than 18% at one point to $387, dropping below $400 for the first time since last November. However, LULU stock recovered somewhat to $403.19, down 15.8%, by the close close. Call it a case of expectations getting too far ahead…
Italy is targeting GDP growth of 1% for 2024. That is above economist estimates.Meanwhile, the EURUSD is trading near lows for the day but above the support at the 61.8% retracement of the move up from the February low at 1.08036, and above and swing low going back to the end of February and early March at the 1.07955.Earlier today, the price fell below its 200-day moving average and 50% midpoint at 1.08374. That is now close resistant. I would expect sellers to be disappointed if that level is rebroken to the upside – at least temporarily. Source link
AUD/USD has traded in the 0.6500 range through March – with a short rise above 0.6600. Economists at the National Australia Bank analyze the pair’s outlook. Aussie still expected to appreciate Our expectation for an appreciation above 0.7000 in H2 2024 is contingent on the reversal of the broad strength shown by the USD over the past year or so. In part, this will be reflected by the Fed beginning to ease rates in June – well ahead of an easing by the RBA and a gradual pickup in global growth in 2025. We see the Aussie ending the year around…
Norges Bank maintained the policy rate as expected but we got a slightly hawkish surprise. Economists at ING analyze Norwegian Krone’s (NOK) outlook after the central bank decision. Norges Bank’s cautious tone on policy and focus on the domestic currency performance offer a good basis Norges Bank remained generally hawkish as it kept rate projections unchanged and signalled rate cuts should only start in the autumn, and will be gradual. We have continued to hear Governor Ida Wolder Bache sounding rather concerned about the weak NOK-higher inflation risks if rates are cut too soon. Indeed, the soft performance of Krone…
EUR/USD pierces below the key 200-day SMA on Friday after Bundesbank’s Nagel raises prospect of an early interest-rate cut. The pair comes off its lows in the last hour, however, supported by positive German IFO Business Sentiment data. EUR/USD is poised to extend breaks below key support levels as key central bank figures line up to speak. EUR/USD is trading down almost half a percent on Friday, in the lower 1.0800s, below the 200-day Simple Moving Average (SMA), after comments from the President of the Bundesbank Joachim Nagel, suggested the European Central Bank (ECB) could be in a position to cut rates before the…
Brent Crude Oil News and AnalysisOver 150 missiles and drones fired in latest attack on UkraineOil prices ease into the weekend despite attacks on energy infrastructureIG client sentiment focuses on recent changes in positioning to arrive at bearish biasThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade Oil Over 150 Missiles and Drones Fired in Latest AttackOver the past 24 hours, the escalating conflict between Russia and Ukraine has taken a significant toll on energy infrastructure in both…
BTCS press release (NASDAQ:BTCS): FY GAAP EPS of $0.55 beats by $0.85. Revenue of $1.3M (-20% Y/Y) misses by $0.5M. 2023 Cash & Crypto Value: $26.7 million as of December 31, 2023, marking a 82% Y/Y increase. Current Cash & Crypto Value: $36.5 million or approximately $2.33 as of March 19, 2024. The ongoing rally in crypto prices through early 2024 has further elevated the value of our crypto assets. Source link