Author: FX
AUD, CNH, SSE Composite Index AnalysedChinese economic growth fails to impress – meets conservative yearly target set out by offcialsSSE Composite Index sell-off surpasses prior low with little chance of reversing fortunesHigh ‘beta’ Australian dollar appears vulnerable amidst a general decline in glonbal indicesThe 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 Introduction to Forex News Trading China’s economy grew by a modest 1% quarter-on-quarter (QoQ) in the three month period between October and December, and rose 5.2% when compared to…
Share: Mexican Peso’s (MXN) returns can be explained entirely by US factors. Economists at TD Securities analyze MXN outlook. US slowdown and a steep Fed cutting cycle in 2024 will allow markets to price in more cuts by Banxico MXN returns can almost be solely explained by US and global macro factors. Hence, a US slowdown and a steep Fed cutting cycle in 2024 will allow markets to price in more cuts by Banxico and bring MXN underperformance. Moreover, the Mexican and US 2024 elections will add noise and can weigh on the Peso. Source link
koto_feja Arcus Biosciences (NYSE:RCUS) traded higher after announcing data for quemliclustat, an investigational therapy co-developed with Gilead (NASDAQ:GILD) from a Phase 1b trial for patients with pancreatic cancer. Citing a data cut on June 19, 2023, Arcus (RCUS) said that the patients who received the CD73 inhibitor at the 100mg dose indicated a median overall survival of 15.7 months, an improvement compared to those who received chemotherapy alone, the standard of care. Additional data from a post-hoc analysis suggest that those who received quemliclustat-based regimens showed a 37% reduction in mortality risk and 5.9 months of gain in median overall…
© Reuters. CTAs to sell at least $2.9 billion of stocks this week, Goldman’s analysis shows Commodity Trading Advisors (CTAs) have accumulated long positions in global equities, with models indicating potential sales in various scenarios, according to analysts at Goldman Sachs. A CTA is an entity or individual offering tailored guidance on the purchase and sale of futures contracts, options on futures. Goldman’s analysis shows that CTAs have a long position of $144 billion in global equities and $53 billion in US stocks. In an upward market movement, CTAs are poised to sell $2.9 billion of stocks, while a downward…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, Nasdaq 100 Analysis and ChartsFTSE 100 falls out of bed as UK inflation unexpectedly rises The FTSE 100, which on Tuesday slid through the 200-day simple moving average (SMA) at 7,570, opened much lower on Wednesday as UK inflation came in at a stronger-than-expected 4.0% in December and core inflation at 5.1%.The 7,450 mark is in sight, below which the early October low and the late November low can be found at 7,384 to 7,383. Minor resistance sits at the 11 December low at 7,493 and can be seen…
UK CPI, Pound Sterling AnalysisHeadline and core measures of inflation surprise to the upsideTemporary price pressures unlikely to challenge the Bank of England’s resolvePound sterling catches a bid after hotter CPI prints, US retail sales and Fed speak up nextThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryHeadline and Core Measures of Inflation Surprise to the UpsideThe headline measure of inflation rose from 3.9% to 4) in the month of December while the core measure (inflation excluding volatile items like food and energy) remained at…
As of the beginning of 2024, Apple’s stock is facing a less-than-ideal situation, leading to a temporary loss of its market cap throne. It’s not something extraordinary – Microsoft briefly outranked Apple in 2020 and 2021 – but the recent shift is still a significant event for the financial markets. For more insights into noteworthy events in early 2024, the SEC has finally approved the first-ever spot Bitcoin ETFs. Woohoo! But let’s get back to the topic at hand and explore the possibility of Microsoft securing the top spot in 2024.Microsoft stock has already grown by almost 5% over the…
Share: Gold price drops to a fresh weekly low amid the underlying bullish tone surrounding the USD. Reduced bets for a March Fed rate cut push the US bond yields higher and underpin the buck. The geopolitical risks and China’s economic woes limit the downside for the safe-haven metal. Gold price (XAU/USD) remains under some selling pressure for the second straight day and maintains its offered tone through the early part of the European session on Wednesday. The precious metal, however, defends the 50-day Simple Moving Average (SMA) support and currently trades around the $2,024-2,025 area, just above…
Data misses from China gave AUD bears more reason to sell the comdoll earlier today. Meanwhile, oil prices are seeing a floor despite escalating tensions in the Middle East. How low can AUD/CAD go before enough AUD buyers show up to change the pair’s direction? 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
Gold was unable to sustain its consolidation breakout earlier on, creating a reversal pattern instead. Will we see confirmation soon? As you can see from the 4-hour chart below, XAU/USD is completing the second shoulder on its head and shoulders formation. Better keep tabs on this neckline support to gauge if a downtrend might follow. Gold (XAU/USD) 4-hour Chart by TradingView The precious metal barely gained any traction from its bullish triangle breakout last week, as price slid back to the support zone around $2,020. That’s no surprise, given how market sentiment has been fickle recently, taking cues from shifting…