Author: FX

Share: The Swiss Franc gained slightly against the Greenback on Friday after US Producer Price Index data fell short of estimates.  Overall PPI fell and core factory gate prices flatlined for three consecutive months. The data substantially increases the probabilities of interest rates falling in the US in the future.  The Swiss Franc (CHF) gained slightly on Friday against the US Dollar (USD) but weakened a quite a bit for the full week. The USD/CHF pair traded 0.02% lower on Friday but rose 0.26% for the week. The release of factory gate inflation in the form of the US Producer Price Index (PPI)…

Share: Mexican Peso advances due to investors expecting substantial US rate cuts, a headwind for the US Dollar. Mexico’s higher-than-expected inflation and industrial production slump puts Banxico at a crossroads. USD/MXN retreats below 16.85 with traders eyeing a new multi-year low below 16.62. The Mexican Peso (MXN) wraps up Friday’s session with gains of 0.29% against the Greenback (USD) and posted back-to-back positive weeks so far in the year. Investors seem confident that the US Federal Reserve (Fed) would embark in an aggressive easing cycle, as reflected by data from the Chicago Board of Trade (CBOT), with investors…

© Reuters. FILE PHOTO: A precinct worker documents the process with her phone as Iowa Caucus precinct workers count paper ballots after a Democratic presidential caucus at West Des Moines Christian Church in West Des Moines, Iowa, U.S., February 3, 2020. Picture ta By Andrea Shalal WASHINGTON (Reuters) -Stripped by President Joe Biden of their special status as the state to hold the first nominating contest of the U.S. presidential election, Iowa Democrats are struggling to redefine their national relevance. Rather than caucusing on Monday night like their Republican rivals, Democrats are voting by mail with results to be announced…

The USDCAD is pushing back to the upside in what has been a volatile up-and-down trading day. That is congruent with a volatile up-and-down trading week. The high price this week was reached yesterday when the price extended above a swing area between 1.3398 and 1.3414. The high price reached 1.3442. But I returned to sellers in the price closed back below that swing area.In trading today there have been no fewer than four moves. The first was down, then up, and then back down, and most recently back to the upside. Technically, the price is back above the 100…

Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Are Gold Prices and the Nasdaq 100 at Risk of a Large Correction?U.S. interest rate expectations have shifted in a more dovish direction over the past few trading sessions, despite higher-than-expected U.S. inflation figures. Traders are now discounting more than 155 basis points of easing for the year, compared to 130 basis points before the end of last week. Against this backdrop, the U.S. dollar, as measured by the DXY index, has halted its recovery, pushing…

Share: The USD/JPY is gravitating towards the 144.70 level with notable losses. Soft PPI data for December weakened the US Dollar. Red Sea tensions may limit the downside for the pair. In Friday’s trading session, USD/JPY encountered a setback, currently trading around 144.70 with losses of 0.40%. This downward movement is driven by the soft Producer Price Index (PPI), but escalating tensions in the Red Sea region may drive demand back to the US Dollar. On the data front, the US Final Demand Producer Price Index (PPI) reported a 1% annual rise in December, a slight increase from…

Mario Tama/Getty Images News Citigroup (NYSE:C) stock rose 1.8% in Friday premarket trading after the bank said it expects 2024 revenue to increase to about $80B-$81B from $778.5B in 2023, driven by gains in treasury and trade solutions, securities services, a rebound in investment banking and wealth, and lower partner payments in retail services. The revenue outlook excludes markets and divestitures. Net interest income, excluding markets, is expected to decline modestly as global interest rates fall. Citi (C) expects mid-single-digit loan growth, driven by its card business and modest operating deposit growth, it said in its earnings slides. “Given how…

Oil Analysis, Prices, and ChartsTraders concerned over potential retaliatory attacks.Supply chain fears over further Red Sea shipping disruption.Learn how to trade Oil with our complimentary guide: Recommended by Nick Cawley How to Trade Oil Financial markets are pricing in risk premiums to the price of oil after US and UK forces struck Houthi rebel targets in Yemen overnight. According to reports in The Daily Telegraph, US and UK air forces hit more than 60 targets in 16 different locations, including sites in and around airports, military bases, and a Houthi naval base.The Middle East is critically important for global oil…

2/2 © Reuters. An RAF Typhoon aircraft is pictured at RAF Akrotiri following its return after striking military targets in Yemen during the U.S.-led coalition operation, aimed at the Iran-backed Houthi militia that has been targeting international shipping in the Red Se 2/2 By Phil Stewart, Idrees Ali and Mohammed Ghobari WASHINGTON/ADEN, Yemen (Reuters) -U.S. and British warplanes, ships and submarines launched dozens of air strikes across Yemen overnight in retaliation against Iran-backed Houthi forces for attacks on Red Sea shipping, widening regional conflict stemming from Israel’s war in Gaza. Witnesses confirmed explosions at military bases near airports in the…

With the US and UK carrying out strikes in Yemen, the tensions in the Middle East is pushing oil prices higher on the day. Oil tankers are reportedly avoiding passage through the Red Sea in order to stay away from the conflict that is adding to the situation at the moment. And when you look at the technical picture, the fundamental developments really couldn’t have been timed better for oil:WTI crude oil weekly chartOnce again, prices have managed to stave off a drop below the 200-week moving average (green line) and that looks to be the case now in back-to-back…