Author: FX

We have a lot of work left to do on inflation It’s premature to think rate cuts are around the cornerFar too early to declare victoryWe need to get inflation on a consistent trajectory to 2%, need more evidence to feel confident to adjust policy rateAny early signs that labor market could falter could also trigger policy adjustmentImportant to look at any rise in delinquency rates as an early sign of economic weaknessThe message here is that they’re looking for reasons to cut but they haven’t found them yet. The question is: How many months of softening economic data would…

Comments from Daly were supposed to start at 2:45 pm ET but nothing has hit yet. This article was written by Adam Button at www.forexlive.com. Source link

Unlock exclusive insights and customized strategies for EUR/USD by requesting the comprehensive trading guide for the euro! Recommended by Diego Colman Get Your Free EUR Forecast EUR/USD TECHNICAL ANALYSISEUR/USD lacked directional conviction on Friday, holding above its 200-day simple moving average at 1.0840. To boost sentiment towards the euro, this floor must remain intact, as a breach may lead to a decline towards 1.0770. If weakness persists, all eyes will be on 1.0700 handle.Conversely, if bulls orchestrate a turnaround and push prices higher, initial resistance stretches from 1.0910 to 1.0930. Sellers are likely to vigorously defend this zone on another…

Grandbrothers/iStock Editorial via Getty Images The U.S. Food and Drug Administration (FDA) has found new manufacturing lapses at Eli Lilly’s (NYSE:LLY) Branchburg, New Jersey, plant, which has already been under regulatory scrutiny, Reuters reported Friday, citing government records. The findings include insufficient controls on electronic records detailing the manufacturing procedures, which could raise concerns about potential data manipulation. The federal inspectors have also found instances of missing product samples used to ensure drug stability before distribution. According to experts interviewed by Reuters, in its response to the findings, the FDA could classify the issues as the most serious, or “Official…

Share: The late 2023 rally in AUD/USD has faded somewhat in early 2024. Economists at Danske Bank analyze the pair’s outlook. AUD/USD remains firmly in the hands of global risk sentiment With Australian leading indicators pointing firmly downward, and US economic data still remaining solid, we expect relative rates and growth to weigh on AUD/USD going forward.  AUD/USD remains firmly in the hands of global risk sentiment, where the outlook for inflation and rate cuts remains a key driver.  We generally think that the Fed will opt for a more gradual pace for rate cuts, which will be…

Share: EUR/USD could be somewhere near 1.1500 by end-2024, economists at ING report. A dose of patience is required We retain a 1.1500 end-year forecast for EUR/USD but see range trading in the near term.  While a re-assessment of the aggressively priced European Central Bank easing cycle could in theory be positive for the Euro, a deteriorating investment environment could well curtail any sizable near-term gains in EUR/USD and other risk-sensitive currencies. EUR/USD – 1M 1.0800 3M 1.0800 6M 1.1000 12M 1.1500   Source link

Share: The US Dollar trades at small loss in a dispersed market. Traders are left clueless ahead of the Fed meeting in two weeks.  The US Dollar Index closed above important resistance, though fell back below it on Friday’s opening. The US Dollar (USD) consolidates with lower highs and higher lows after the volatility pickup earlier this week. Traders are left clueless ahead of the first US Federal Reserve meeting to be held at the end of January. Although it becomes clear no rate cut will take place, traders have only delayed their rate-cut expectations until May, (from…

Share: Strategists at Commerzbank discuss poor sentiment in the metals markets. No positive impetus for metal prices The market balance figures from the International Copper Study Group are likely to confirm that the supply situation on the copper market improved last year. They therefore do not promise a boost for the struggling metal markets.  The Oil market is also sufficiently supplied. However, Oil prices remain well supported by the tensions in the Middle East.  The Gold price is also unlikely to fall much lower, as US key interest rates will be reduced later than some had hoped, but…

© Reuters. BOSTON – In a strategic move to improve financial performance amid market pressures, Wayfair (NYSE:) Inc. has announced a substantial reduction in its workforce. Today, the company disclosed plans to eliminate around 1,650 managerial positions, a decision anticipated to result in over $280 million in savings. Following the announcement, Wayfair’s stock experienced a significant uptick, with a 15% rise in pre-market trading. The layoffs are part of a broader effort by the online furniture and home-goods retailer to streamline operations and strengthen its financial outlook. Wayfair expects these measures to contribute to a projected adjusted EBITDA of $600…

Japanese Yen Prices, Charts, and AnalysisJapanese inflation drifts lower in December.The Quarterly Output Report next week is key going forward.Download our complimentary Q1 Japanese Yen Technical and Fundamental Report Recommended by Nick Cawley Get Your Free JPY Forecast Japanese inflation cooled further in December with headline inflation falling to 2.6% from 2.8% in November, while core inflation fell to 2.3% from 2.5%, in line with market forecasts. Japanese price pressures are at their lowest level since mid-2022, but still above the 2% central bank target, and the Bank of Japan will need to see more signs of entrenched wage inflation…