Author: FX
© Reuters. A woman casts her vote at a polling station set up in a temple during the presidential and parliamentary elections in New Taipei City, Taiwan January 13, 2024. REUTERS/Carlos Garcia Rawlins TAIPEI (Reuters) – Polls closed on Saturday for Taiwan’s presidential and parliamentary elections. The outcome should be clear by later on Saturday evening. Opinion polls have not been allowed to be published from Jan. 3 on until the polls close in line with Taiwanese election law. Here are some of the scenarios for who could win, based on pre-Jan. 3 polling, and what it will mean for…
Mark Wilson/Getty Images News Marijuana should be rescheduled as a Schedule III drug as the plant does appear to have medical uses and is less dangerous than other drugs, according to a just made public HHS document. Addressing a 252-page review, HHS Assistant Secretary for Health Rachel Levine wrote that based on evaluations from FDA scientists, cannabis should become a Schedule III substance. It is currently listed as a Schedule I drug, meaning it has no recognized medical uses. Although the review is dated August 2023, it only came to light Friday evening thanks to attorney Matthew Zorn who sued…
SlavkoSereda/iStock via Getty Images An early spike in crude oil prices from rising Middle East tensions proved short-lived Friday, and futures ended lower for the week. News of U.S.-led airstrikes against Houthi rebels in Yemen initially sent crude futures up as much as 4%, but the market did not panic and prices remained below levels seen a year ago. Traders anticipate enough new production this year from producers including the U.S. to meet expected demand growth, even with OPEC+ continuing its own cuts and pledging to take ~2M bbl/day more off the market through voluntary cuts. While the lack of…
5/5 © Reuters. U.S. President Joe Biden speaks to the press, as he visits Allentown Fire Training Academy, in Allentown, Pennsylvania, U.S., January 12, 2024. REUTERS/Leah Millis 2/5 By Nandita Bose and Mohammed Ghobari WASHINGTON/ADEN (Reuters) – President Joe Biden vowed further military action against Yemen’s Houthi forces if they keep up their attacks on shipping in the Red Sea despite dozens of U.S. and British air strikes on the Iran-backed group’s facilities. Intensifying concerns about a widening regional conflict, U.S. and British warplanes, ships and submarines this week launched missiles against targets across Yemen controlled by the group, which…
What a choppy week in FX! GBP was able to get another win on relatively hawkish policy expectations, while AUD was eating dust after decelerating Australian inflation updates. Source link
Share: US equities initially embraced a miss in US PPI figures, but downside factors weigh. Large bank earnings broadly missed the mark on Friday, plaguing US equities. Next Wednesday’s US Retail Sales to be the linchpin in sentiment next week. US equity markets rallied in early NY trading hours on Friday after the US Producer Price Index (PPI) declined faster than market models predicted as producer-level inflation continues to ease, even after Thursday’s US Consumer Price Index (CPI) showed consumer inflation accelerated unexpectedly in December. US annual PPI inflation rises to 1% in December vs. 1.3% expected The…
Share: EUR/JPY’s loss may indicate a bearish shift, with a possible close below Ichimoku Cloud signaling further downtrend. Immediate support levels include 159.50 and Tenkan-Sen at 157.62, with significant downside risk at Kijun Sen at 156.64. For a bullish reversal, EUR/JPY needs to stay above Senkou Span B at 158.71, targeting 159.00 and 160.18. The Euro (EUR) is at the brink of turning decisively bearish against the Japanese Yen (JPY), printing losses of 0.44% on Friday, though set to finish the week with 0.26% gains. Nevertheless, as price action cracks inside the Ichimoku Cloud (Kumo), sellers pressure the…
U.S. inflation updates & fresh headlines, including the highly anticipated bitcoin ETF approval, kept the broad markets volatile but choppy this week. Source link
Share: WTI rose on Friday after markets were gripped once more by geopolitical concerns. Chinese Crude Oil demand recovered on Friday, further boosting the day’s bids. Oil markets settled back into familiar lows as the trading week drew to a close. West Texas Intermediate (WTI) US Crude Oil rose to a new 2024 high of $75.27 on Friday, with energy markets growing increasingly nervous about spill-over from ongoing geopolitical tensions after naval forces from the US and UK launched attacks on Houthi rebel forces that have been targeting civilian cargo and tanker ships off the coast of Yemen.…
Share: Silver’s recent rally to $23.52 curbed by resistance at 50 and 200-DMAs, leading to a slight pullback in prices. Technical analysis shows Silver trading in a sideways trend; immediate support at $23.00, followed by $22.48. Potential for further gains if Silver breaks above the 100-DMA at $23.25, targeting the $23.60/65 resistance zone. Silver price trims its losses, but it remains below the 100-day moving average (DMA) after hitting a new five-day high of $23.52 on Friday. Geopolitical tensions bolstered the grey metal, which aimed towards the confluence of the 50 and 200-DMAs, but buyers’ failure to crack…