Author: FX

Share: Gold price gains ground near $2,065 during the early Asian session on Tuesday. The US Chicago Purchasing Managers’ Index (PMI) arrived at 46.9 in December vs. 55.8 prior, worse than expected. The chairman of the Chinese Communist Party Xi Jinping made vague comments about supporting the economy. The US S&P Global Manufacturing PMI is due on Tuesday. Gold price (XAU/USD) begins the first trading day of 2024 on a positive note during the early Asian session on Tuesday. The uptick of yellow metal is supported by the softer US Dollar (USD) and the positive development surrounding China’s…

Dilok Klaisataporn Industrial Select Sector SPDR Fund ETF (NYSEARCA:XLI), which tracks the S&P 500 Industrial sector, rose about 15.96% in 2023 after registering a 7% drop in the previous year. Meanwhile, the Industrial sector (SP500-20) gained 15.74%, underperforming the broader S&P 500, that rose about 25% in 2023. On a comparative basis, the Industrial sector fared better than some of its peers like Energy, Materials, Consumer Discretionary, and Financial sectors, while lagging behind the Technology sector which rose over 50%. Within industrials, the Commercial and professional Services sub-sector grew 18.04%, the Capital Goods sub-sector came second, rising 17.01%, while the…

How long will the U.S. dollar’s downward correction last? Get all the answers in our first-quarter forecast! Recommended by Diego Colman Get Your Free USD Forecast US Treasury yields plummeted in the last three months of 2023 on expectations that the Federal Reserve would significantly reduce borrowing costs over the medium term, sending the U.S. dollar reeling to its lowest level in five months. Against this backdrop, EUR/USD and GBP/USD soared, hitting multi-month highs in late December.The pullback in U.S. bond yields triggered a huge rally in the equity space, enabling the main stock market indexes to climb to new…

(Reuters) – Lebanon’s Iran-backed Hezbollah group said on its Telegram account on Monday that three of its fighters were killed in southern Lebanon. The statement gave no detail about how the three were killed but said they “were martyred on the road to (liberate) Jerusalem”. Security sources said they were killed in an Israeli raid on two houses in the Lebanese village of Kafr Kila near the border where Hezbollah maintains security control. Hezbollah, an ally of Palestinian Islamist group Hamas, has been exchanging near-daily fire with Israel across Lebanon’s southern frontier since the eruption of the Israeli-Hamas war in…

The strongest to the weakest of the major currencies (2023)As 2023, comes to an end, the CHF is ending the day as the strongest of the major currencies while the JPY is the weakest. The CHF benefitted from flight to safety flows on the US banking crisis and global tensions, and then took a late year nose dive from around USDCHF 0.9100 to 0.8332 after the SNB continued to sell foreign currencies in an effort to dampen imported inflation. The USDCHF fell -8.94% on the year (stronger CHF). The EURCHF fell -6.10% (higher CHF). The CHFJPY saw the CHF strengthen…

Consumer Discretionary Select Sector SPDR Fund ETF (NYSEARCA:XLY) outperformed the broader index in 2023, gaining 38% this year, compared to a ~24% rise in the S&P 500. Within discretionary, the Automobiles & Components industry grew 76%, Retailing industry added 40.5%, Consumer Services gained 28%, while Consumer Durables & Apparel rose about 16%. Top sector movers in 2023 Gainers Royal Caribbean Cruises (RCL) +169.77% Carnival Corporation (CCL) +141.72% PulteGroup (PHM) +129.94% Tesla (TSLA) +120.46% Amazon.co (AMZN) +85.70% Losers Etsy, Inc (ETSY) -32.68% V.F. Corporation (VFC) -27.30% Genuine Parts Company (GPC) -20.94% Amcor (AMCR) -19.06% Hasbro (HAS) -12.30% What Analysts Expect The…

(Reuters) -Ukraine’s shelling of the city of Donetsk on Monday killed four people, a Russian-installed official in the eastern region of Ukraine said, while Russia’s air attacks on several Ukrainian regions killed at least one person, local officials said. Thirteen people were also injured in “heavy shelling” by Ukrainian forces on the centre of Donetsk, Denis Pushilin, the head of the Donetsk region, wrote on the Telegram messaging app. In a statement, the Russian Foreign Ministry called the shelling of Donetsk a “terrorist act” that it said was aimed at civilian infrastructure. Separately, a person was killed by shelling in…

In the ever-evolving world of financial markets, traders and investors constantly seek tools and strategies to gain an edge. One such tool that has garnered attention in recent years is the OBV Divergence MT4 Indicator. This indicator, while technical and academic in nature, can be a game-changer for those looking to make informed trading decisions. In this article, we will delve into the world of OBV Divergence, explaining its concept, functionality, and how to effectively use it in your trading endeavors. What is OBV Divergence? Understanding the Basics To grasp the significance of the OBV Divergence MT4 Indicator, let’s break…

This article examines the fundamental factors that are likely to influence the trajectory of the U.S. dollar in the first quarter of 2024. For technical insights about price action dynamics, download the complete Q1 forecast! Recommended by Diego Colman Get Your Free USD Forecast US Dollar – Market RecapThe U.S. dollar, as measured by the DXY index, started the fourth quarter on the front foot, briefly reaching its strongest position in almost a year. These gains were underpinned by the steady and consistent rise in U.S. Treasury yields, catalyzed by bets that the Federal Reserve would keep a restrictive stance…

China's manufacturing PMI downturn deepens as factories struggle Source link