Author: FX
Share: Economists at HSBC retain a USD bullish view for 2024. USD likely to be on the defensive in the near term The USD is likely to be on the defensive in the near term, but we think the headwinds from yield differentials to the USD may not be large, as the Fed will likely be easing alongside other central banks (no matter from the market’s or our economists’ expectations). We believe the USD will probably be supported in 2024 by a slowing global economy, one where recession risks still loom and where the ‘safe haven’ USD will…
Share: US consumer inflation declined more than expected in November. US Dollar Index slides to its lowest level since July 27. The AUD/USD holds firm, maintaining important weekly gains. During the American session, the AUD/USD pair rose to 0.6824, reaching its highest intraday level since July, driven by broad-based Dollar weakness. It is holding onto its weekly gains, remaining near 0.6800. Mixed US data: inflation approaches Fed’s target The latest important US economic report for 2023 showed that the Core Personal Consumption Expenditure Price Index (Core PCE) rose 0.1% in November, below the market consensus of 0.2%. The…
Share: As 2023 is coming to an end, it is time to take a look at 2024. Strategists at Rabobank sketch their baseline scenario for the next year. An eventful year We expect 2024 to kick off with budget battles and the threat of a two-step government shutdown. We expect the rise in unemployment to become more pronounced and culminate in a recession in the first half of the year. This should convince the FOMC to pivot from an aggressive hiking cycle to a cautious cutting cycle by the middle of the year. In November, the Americans will…
© Reuters. FILE PHOTO: A Tesla sign is displayed over a Tesla showroom in Malmo, Sweden, December 14, 2023. REUTERS/ Tom Little/File Photo By Marie Mannes OSLO (Reuters) -Sweden’s Transport Agency said on Friday it is investigating suspension failures in Tesla (NASDAQ:) cars in a probe similar to that carried out by neighbouring Norway’s traffic safety regulator. “We can … confirm that investigative work is also underway with us,” the Swedish agency said in an emailed statement to Reuters. Tesla did not immediately respond to a request for comment. The Norwegian Public Roads Administration (NPRA) on Thursday said it started…
Share: The US Dollar falls back to session’s low. Equity markets jump higher this week as investors go all in on early Fed rate cuts. The DXY US Dollar Index sinks below 102.00, faces selling pressure at start of US session The US Dollar (USD) is facing increasing selling pressure as investors are increasingly pricing in interest-rate cuts for early 2024. Markets are opting to ignore remarks and warnings from several US Federal Reserve officials, who are trying to play down expectations of upcoming cuts. While US equities are having a Christmas rally, US bond yields have plunged,…
Share: The Gold price is set to benefit from easing monetary policy, elevated geopolitical risks and strong central bank purchases in 2024, strategists at ANZ Bank report. Gold to keep shining in 2024 Gold looks like it will be well supported by several factors in 2024: the start of rate cut cycle in the US, slowing economic growth, a weaker USD, strong central bank purchases and elevated geopolitical risks. Weak investment demand presents an opportunity for investors to increase their positioning in Gold. We upgraded our 12-month price forecast to $2,200 from $2,150. Source link
Share: Gold price rises sharply to near $2,060 after soft core PCE inflation report for November. Soft inflation report has boosted Fed’s rate cut expectations. The US Dollar Index is battered by rate cut bets and downwardly revised US Q3 GDP data and soft inflation data. Gold price (XAU/USD) advances as the United States Bureau of Economic Analysis (BEA) has reported softer-than-anticipated core Personal Consumption Expenditure (PCE) price index report for November. Monthly core PCE price index data grew at a slower pace of 0.1% against expectations and the former reading of 0.2%. On an annual basis, the underlying inflation data decelerated to 3.2%…
US Core PCE Key Points:Core PCE Price Index YoY(NOV) Actual 3.2% Vs 3.5% Previous.PCE Price Index YoY(NOV) Actual 2.6% Vs 2.9% Previous (Revised Down).The Data Today Will Only Further Fuel the Fire Regarding Rate Cuts in 2024.To Learn More AboutPrice Action,Chart PatternsandMoving Averages, Check out theDailyFX Education Section.MOST READ: USD/JPY Price Forecast: USD/JPY May Struggle to Find Acceptance Below the 142.00 markElevate your trading skills and gain a competitive edge. Get your hands on the News Trading Guide today for exclusive insights on how to navigate news events. Recommended by Zain Vawda Introduction to Forex News Trading The PCE prices…
In the world of trading, timing is everything. Traders are constantly seeking ways to gain an edge in the market, and one tool that can provide valuable insights is the Color RSI with Alert MT4 Indicator. This powerful technical analysis tool not only helps traders identify trends but also sends alerts when specific conditions are met. In this article, we will delve into the world of this indicator, exploring its features, benefits, and how to use it effectively. Understanding RSI (Relative Strength Index) Before diving into the Color RSI with Alert MT4 Indicator, let’s first grasp the concept of RSI,…
EUR/USD Forecast – Prices, Charts, and AnalysisEUR/USD back above 1.1000.US core PCE is the last data event of the year.Learn how to trade the most active fx-pair with our complimentary guide Recommended by Nick Cawley How to Trade EUR/USD Most Read: US Dollar (DXY) Latest: Markets Ignore Fed Rate Pushback, GBP/USD and EUR/USDThe Euro continues this week’s move higher against a weakening US dollar and is touching levels last seen over four months ago. The single currency is higher against a range of currencies this week as markets pare back elevated rate cut expectations. In comparison, the US dollar keeps…