Author: FX
If you read our last FX Weekly Recap, then you’ll know that EUR weakened partly because the European Central Bank (ECB) just emphasized the Euro Area’s growth risks and slowing inflation. Meanwhile, more ECB members are speaking for making interest rate cuts “sooner than later.” On the other side of the EUR/USD fundamental consideration, the U.S. dollar started the week strong as traders sought the safe-haven amidst escalating Middle East tensions and uncertainty over this week’s potential market movers. EUR/USD, which has been in a downtrend all month, recently hit the 1.0800 psychological handle that lines up with the S1…
Share: Australian Dollar appreciates for the second straight session amid a stable US Dollar. Australia’s Retail Sales (MoM) declined by 2.7% in December against the expected fall of 0.9% and the previous growth of 2.0%. US Dollar faced a challenge on lower US yields due to the healthier US balance sheet. US Treasury Department plans to borrow $760 billion in Q1, lower than the previous estimate of $816 billion in October. The Australian Dollar (AUD) continues to gain ground on Tuesday amid a stable US Dollar (USD). The AUD/USD pair received upward support as United States (US) bond…
Are my eyes deceiving me or am I seeing early signs of a triangle breakout on silver? As you can see from the chart below, the precious metal is already inching above a key resistance zone. Here are the levels I’m watching on the 4-hour time frame. Silver (XAG/USD) 4-hour Chart by TradingView Okay, so it’s not exactly a “perfect” descending triangle pattern on silver… but check out how price is climbing out of consolidation and above the falling trend line around $23.00! Does this mean that an uptrend of the same height as the triangle pattern is in the…
© Reuters. A logo is seen on the grill of an E-transit concept vehicle during a press event at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo By David Shepardson WASHINGTON (Reuters) -The chairs of two U.S. House committees asked the Biden administration to investigate four Chinese companies they say are involved in Ford Motor (NYSE:)’s planned Michigan battery plant, according to a letter seen Monday by Reuters. The letter first reported by Reuters said the four Chinese companies have direct ties to the Chinese military, Chinese Communist Party, North Korean government and alleged…
Zhanna Hapanovich/iStock via Getty Images Update 9:55pm: Adds Hollysys rejection of consortium offer. Hollysys (NASDAQ:HOLI) quickly rose 0.8% after a consortium led by Dazheng Group disclosed that it improved its takeover offer. The group raised its offer for Hollysys to $29.50 a share in recent days from an earlier bid of $29 in December, according to a statement on Monday. The consortium said in the statement that it had discussions with the company about its improved offer, though they failed to lead to a deal. “These efforts proved futile, prompting the Consortium to pursue remedies against what it perceives as…
0400 US Eastern time / 0900 GMT Opening remarks by ECB chief economist Philip Lane at conference ‘A year with the euro in Croatia’ organised by Hrvatska Narodna Banks (Croatian National Bank, the country’s central bank) in Zagreb, Croatia1030 US Eastern time / 1530 GMT Talk between Bundesbank President Joachim Nagel and Moritz Schularick, President of the Kiel Institute for the World Economy on: “The role of the central bank in financial crises.”— Earlier dovish remarks from one of their colleagues on the Governing Counci, BdF head Villeroy:ICYMI: ECB’s Villeroy says the Bank could cut rates at any time this…
Yo, Australia is about to drop its inflation rate in the last three months of 2023! How high did Australia’s consumer prices fly during the period? More importantly, how might the numbers affect RBA’s biases and AUD’s price action? 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
Share: The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1055 as compared to the previous day’s fix of 7.1097 and 7.1763 Reuters estimates. Source link
ImagineGolf/E+ via Getty Images The long-delayed project to expand Canada’s Trans Mountain pipeline has been hit with another setback, which will delay completion of the project to Q2 at the earliest, the company said Monday. The government-owned pipeline operator said it encountered technical issues during January 25-27 involving activity with one of its drills, which will “result in additional time to determine the safest and most prudent actions for minimizing further delay.” Heavy sour crude prices at Hardisty, Alberta, fell Monday on Trans Mountain’s scheduling uncertainty, after narrowing its discount to the light sweet crude benchmark in Cushing, Oklahoma, in…
© Reuters ETH ETF Next? Seasoned VC Vance Spencer Shares His Views U.Today – As the new bull market is gaining traction, Netflix (NASDAQ:) alum and seasoned crypto VC Vance Spencer indicates a number of milestones the blockchain segment could reach in the coming two years. While his forecast sounds optimistic, he also recommends being prepared for a “roller coaster.” ETF could be next, Vance Spencer opinedThe fourth (BTC) halving, Ethereum ETF approval and growing institutional adoption of digital assets are “next” for us in 2024, Spencer shared with his 85,000 followers on X. In general, the crypto journey at…