Author: FX
Euro (EUR/USD) Analysis and ChartsEUR/USD stayed in the green despite news that business activity contracted again in JanThe Composite PMI has been below the key 50 mark for eight monthsStill, the ECB is expected to stand pat on rates with inflation still above target Recommended by David Cottle Get Your Free EUR Forecast January’s initial or ‘flash’ Purchasing Managers Index data for the Eurozone showed both manufacturing and service sector activity well below the fifty mark which separates expansion from contraction. The composite indicator, which marries the two, came in at 47.9. That was below the 48 level markets were…
© Reuters. FILE PHOTO: A man rides a scooter past a completed central area of Qianhai new district in Shenzhen, Guangdong province, China August 25, 2023. REUTERS/David Kirton/File Photo By Joe Cash BEIJING (Reuters) – Chinese Premier Li Qiang went to the World Economic Forum in Davos last week with a mission to present a positive image of the economy and schmooze financial elites: “Investing in the Chinese market is not a risk, but an opportunity.” The message fell flat. As soon as Chinese markets reopened the next day, a years-long sell-off in stocks and other assets accelerated, even as…
Australian Dollar (AUD) AnalysisAdditional accommodation from the PBoC and positive risk sentiment prop up AUDAUD holds up in a week devoid of high impact Aussie dataIG client sentiment ‘mixed’ despite increasing long-short divergenceThe 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 Get Your Free AUD Forecast Additional Accommodation from the PBoC and Positive Risk Sentiment Prop up AUDThe People’s Bank of China announced that it will free up bank capital held with the central bank in February in the latest effort…
Looking for a news event to trade today? The Bank of Canada (BOC) will be announcing its rate decision in a few hours and might spur CAD volatility if it shifts its policy stance. Check out these areas of interest I’m watching on USD/CAD as the BOC gears up to make its announcement. 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 greenback is losing some ground ahead of the European market open as risk sentiment is on the up while bond yields are also sitting lower today. USD/JPY is down 0.4% to 147.75 at the lows for the day, though still holding just above its 100-day moving average of 147.51 currently:USD/JPY daily chartThat remains the key technical level to watch for the pair amid the pushing and pulling this week.Elsewhere, EUR/USD is up 0.2% to 1.0875 and USD/CHF down 0.3% to 0.8678 at the moment. Looking over to the commodity currencies, NZD/USD is up 0.2% to 0.6113 while AUD/USD is…
Share: EUR/USD trades in positive territory near 1.0862, adding 0.12% on the day. The bearish outlook of the pair remains intact above the key EMA; RSI holds below the 50 midline. 1.0895 acts as an immediate resistance level for EUR/USD; the initial support level is seen at 1.0840. The EUR/USD pair trades on a stronger note during the early European session on Wednesday. The major pair has flirted with the weekly lows of 1.0821 and rebounded to 1.0862. However, the potential upside seems limited as investors turn cautious ahead of the European Central Bank’s (ECB) interest rate decision…
Remember EUR/CHF’s potential resistance zone that we identified earlier this month? Well, EUR/CHF has reached that level and it’s make or break time for euro bulls and bears! In case you missed it, we’re taking a closer look at the daily time frame: EUR/CHF Daily Forex Chart by TradingView As you can see, EUR/CHF has gotten enough support to bounce from the .9300 psychological handle and test its current .9450 levels. And why not? European Central Bank (ECB) members including their head honcho Christine Lagarde have been busy telling us that we’re jumping the gun with our interest rate cut…
© Reuters. FILE PHOTO: U.S. President Joe Biden departs after attending Mass at St. Edmond’s Catholic Church in Rehoboth Beach, Delaware, U.S., January 20, 2024. REUTERS/Joshua Roberts/File Photo By Steve Holland MANCHESTER, New Hampshire (Reuters) -U.S. President Joe Biden won an unusual Democratic write-in vote in New Hampshire’s primary election on Tuesday, an important display of political strength, despite his name not being on the ballot. Edison Research projected Biden the winner over two Democrats whose names were actually on the ballot – U.S. Representative Dean Phillips of Minnesota and self-help author Marianne Williamson. The victory for the incumbent president…
Oli Scarff/Getty Images News BP (NYSE:BP) expects the Calypso deepwater natural gas field offshore Trinidad and Tobago, which it shares with Woodside Energy (WDS), to get the greenlight when a final investment decision comes as early as the end of 2025, a company executive told Reuters on Tuesday. BP (BP), which owns a 30% stake in the Calypso discoveries that hold ~3.5T cf of gas, previously forecast the FID could be made in 2026. “They are working through capital value process, so increasing engineering, gradually selecting concepts [and] moving towards a final investment decision, which I hope will come in…
Chairman Tokura of Keidanren (Japan Business Federation) says aiming for wage hikes that outpace inflation in this year’s labour talksThe lobby group’s vice-chair Koji adds that firms must improve productivity to secure sources for sustainable wage hikes**Keidanren is a significant organisation in Japan with close links to Japan’s ruling Liberal-Democratic Party. It provides advice to the government on economic issues.The Bank of Japan also want to see significant wage hikes in the Spring talks. The Bank wants higher wages to propel demand-pull inflation. You can find the latest from the BOJ (on the policy decision, outlook and press conference) here…