Author: FX

Share: Focus turns to Scandinavia. Economists at ING analyze SEK/NOK outlook after Norway released inflation data. In Sweden, the December Consumer Price Index (CPI) will be published next week. Norwegian underlying inflation declines further Norway released CPI figures for December, showing headline inflation remained unchanged at 4.8% while underlying inflation declined from 5.8% to 5.5%. We expect further progress on disinflation and a deterioration in global conditions to lead to rate cuts by Norges Bank as early as 2Q, broadly in line with market expectations. In Sweden, December CPI numbers are released next week: expect some action in…

AUD/NZD is enjoying some support despite downbeat Australian CPI. Will bears hop in at this resistance zone, though? Or will hawkish RBA expectations persist and spur a reversal? Here are the levels and technical signals I’m watching. 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

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© Reuters. People walk past the main entrance of the Sri Lanka’s Central Bank in Colombo, Sri Lanka March 24, 2017. REUTERS/Dinuka Liyanawatte/File Photo By Uditha Jayasinghe and Swati Bhat COLOMBO (Reuters) – Sri Lanka’s central bank is considering moving towards a single policy rate mechanism to ensure better signaling of its monetary policy stance, Governor P. Nandalal Weerasinghe said on Wednesday. Weerasinghe made the comment while announcing the annual policy statement for 2024. The central bank currently directs policy using two interest rates – the standing deposit facility rate and the standing lending facility rate. It is now considering…

Who else is looking for more GBP-related setups? If you are, then you won’t want to miss GBP/CHF pulling back to a potential resistance zone! As you can see, a bit of recovery for overall risk sentiment helped GBP/CHF trade higher from its late December lows near 1.0650. In fact, the pair is currently trading closer to 1.0825 despite Switzerland printing better-than-expected inflation and retail sales figures earlier this week. Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie homework on the British pound and the Swiss…

Twiitter confirms @SECGov was compromised, did not have two-factor authentication enabledJP Morgan warns that Red Sea terrorist attacks driving up shipping costs, inflationRussian crude oil exports in the first week of 2024 down by 500,000 bpdChinese equities getting hammered again todayAUD/USD tracking a little higher despite a beat for CPI dataBank of England Governor Bailey, other senior officials called before parliament WednesdayECB vice President Luis de Guindos is speaking on WednesdayPBOC sets USD/ CNY mid-point today at 7.1055 (vs. estimate at 7.1618)Houthi terrorists launch biggest attack to date on merchant vessels in Red SeaSenior People’s Bank of China official hints…

Share: Australian Dollar recovers its recent losses despite weaker Aussie consumer inflation data. Australian Monthly CPI (YoY) reduced to 4.3% in November, against the market expectation of 4.4%. US Dollar gained on risk-off sentiment despite the downbeat US bond yields. The Australian Dollar (AUD) retraces its recent losses despite a softer-than-expected Aussie consumer inflation data released on Wednesday. However, the AUD/USD pair registered losses in the previous session as the US Dollar (USD) improved on risk-off sentiment. Australia’s economic indicators are providing a mixed picture, with the Monthly Consumer Price Index (YoY) for November showing a slight reduction…

© Reuters The cryptocurrency recently witnessed a sharp but brief increase in value, sparked by a false report circulating on Telegram that claimed the death of its famed mascot, Kabuso. The misinformation briefly pushed Dogecoin’s price up to 8.3 cents, marking a 9% surge, before it stabilized at around 8 cents. The false news, disseminated by an unidentified user, led to over $674,000 in liquidations as traders reacted to the unverified claim. This event underscored the vulnerability of cryptocurrencies like Dogecoin to sudden market movements based on rumors and highlights the broader impact that unverified information can have on digital…

SlavkoSereda/iStock via Getty Images U.S. crude oil production will hit records over the next two years but grow at a slower rate, the U.S. Energy Information Administration said Tuesday. In its latest Short-Term Energy Outlook, the EIA raised its 2024 U.S. crude production forecast to an average of 13.2M bbl/day, with a further increase to 13.4M bbl/day in 2025, both records, citing increased well efficiency for the expected growth rigs. While U.S. crude production is forecast to rise by 290K bbl/day this year, growth likely will slow from the 1M bbl/day growth in 2023 due to lower drilling activity, the…

USD/JPY & GOLD PRICE OUTLOOKGold prices and the Japanese yen have performed poorly in recent days after a strong run in the last few weeks of 2023Near-term direction for both assets will likely depend on U.S. inflation data due for release on ThursdayThis article examines the technical outlook for XAU/USD and USD/JPY, analyzing critical levels to monitor in the coming trading sessions Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: EUR/JPY and GBP/JPY Veer Off Bullish Path after Hitting Resistance. What Now?Gold prices and…