Author: FX
Share: EUR/USD whipped in hectic Friday action following Eurozone inflation, US labor data. European inflation continues to hamper the ECB, while US jobs data beat the street. EUR/USD wraps up the week near 1.0940. The EUR/USD fell to a three-week low on Friday after European inflation rebounded higher in December, with the Eurozone Harmonized Index of Consumer Prices (HICP) for the year ended December climbing to 2.9% versus November’s YoY 2.4%. Markets were expecting a print of 3.0%, but higher inflation of any amount reduces the chances of the European Central Bank (ECB) cutting interest rates to reduce…
Share: DXY Index retreats after the latest string of US data holds onto weekly gains United States NFPs from December were higher than expected, as well as Average Hourly Earnings, while the Unemployment Rate stood at 3.7%. The Services ISM PMI from the same month was disappointing. The US Dollar (USD), represented by the Dollar Index, is currently trading just above 102.40 with slight losses due to the markets adjusting dovish bets post the release of December’s Nonfarm Payrolls (NFP) and the ISM PMIs. From indications in the last 2023 Federal Reserve meeting, a dovish stance was apparent. The…
Share: The NZD/JPY rose to 90.30, seeing 0.25% gains. Daily chart indicators hint at sustained buying momentum; RSI in positive territory alongside a rising MACD histogram. Four_hour_chart indicators flattened and suggested consolidation of upward movements. In Friday’s session, the NZD/JPY pair traded up to a high of 90.50, its highest since early December, and then consolidated towards 90.30, marking a gain of 0.25%. Bulls are seemingly gaining ground in the daily chart as it portrays a bullish outlook. Meanwhile, the four-hour indicators seem to be consolidating the upward movement, suggesting a pause in the dominant buying activity. The…
The new year kicked of with a bit of unusual price flows thanks to monetary policy developments, geopolitical & fresh top tier economic data updates. Source link
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Share: AUD/JPY sees slight 0.24% increase, maintaining position near Ichimoku Cloud, signaling potential market shifts. For continued upward trajectory, the pair needs to breach December’s high of 97.59, eyeing 98.00 and last year’s peak at 98.58. Downside risks include support levels at 96.83, Tenkan-Sen at 96.71, and possible retreat to 95.90. The AUD/JPY is set to finish the week with gains of close to 1.20%, though it remains at the brisk of getting back inside the Ichimoku Cloud (Kumo), which could pave the way for a pullback. At the time of writing, the pair trades at 97.20, posting…
I continue to believe a bitcoin ETF is a done deal with a launch likely next week.The latest report comes from Bloomberg and cites four people familiar who say the SEC told several issueers that they should submit a final version of a key listing document as soon as today.Two of the sources said staff had no additional feedback on the paperwork.The report says SEC commissioners are expected to vote on the filings next week.We’ve seen many reports this week saying it’s a done deal and yet the price of bitcoin hasn’t responded positively, which makes me think that people…
S&P 500 weeklyClosing changes on the day: S&P 500 up 0.2%DJIA +0.1%Russell 2000 -0.2%Nasdaq Comp +0.1%Toronto TSX Comp +0.2%Closing changes on the week: S&P 500 down 1.5%DJIA -0.6%Russell 2000 -3.6%Nasdaq Comp -3.25%Toronto TSX Comp -0.3%Coming into this week, the S&P 500 and Nasdaq had rallied for nine straight weeks in a move that highlights the power of the Fed pivot. Some profit taking was probably delayed by the turn of the calendar but it arrived this week. Is there more to come? I could see the argument for that, especially because Fed funds have repriced rate cuts down to 137…
This article is specifically dedicated to analyzing the fundamental prospects for the Australian dollar. For insights into the Aussie’s technical outlook, request the comprehensive Q1 forecast without delay! Recommended by Warren Venketas Get Your Free AUD Forecast Optimistic Doves Must Proceed with CautionThe Reserve Bank of Australia (RBA) ended 2023 by deciding not to raise interest rates for a second consecutive time although the possibility was not ruled out. Members cited disinflation both locally and globally as well as weakness appearing in the labour market. The graphic below illustrates the progress made through restrictive monetary policy measures to reduce inflationary…
ugurhan Morgan Stanley downgraded its rating of Cytokinetics (NASDAQ:CYTK) to equal weight, but raised its price target, stating it saw the shares approaching full valuation. The investment bank noted that the shares have appreciated almost 90% since the company announced positive Phase 3 data for its cardiomyopathy drug aficamten, helped by reports that pharma companies may be interested in the acquiring the drug developer. “We think CYTK could potentially have strategic value and believe there is possible additional upside,” wrote the analysts in their note, adding their bull case was $135 per share. They added that their bear case was…