Author: FX
The latest U.S. Core PCE Price Index (the Fed’s favorite inflation gauge) is coming this Friday and it tends to be a solid short-term Dollar mover. Here are points you need to consider if you’re planning on tackling this potentially market moving report: 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: Mexican Peso advances against the US Dollar, USD/MXN threatens 17.00 support area. Mexico’s economic docket ahead includes Retail Sales on Wednesday, followed by Thursday’s inflation data. US housing data was solid but failed to move the needle in favor of the US Dollar, which remains on the defensive. The Mexican Peso (MXN) continues to strengthen against the US Dollar (USD) during the North American session on Tuesday, as the Greenback (USD) remains pressured despite US Federal Reserve (Fed) officials pushing back against aggressive bets suggesting the central bank would lower rates by more than 100 basis points…
US DOLLAR FORECAST:The U.S. dollar extends its retracement as U.S. Treasury yields push lowerThe greenback retains a bearish profile in the near term, meaning more losses could be around the cornerThis article examines the technical outlook for EUR/USD, USD/JPY and GBP/USD Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar in Peril with Core PCE on Deck, Setups on EUR/USD, GBP/USD, USD/JPYThe U.S. dollar, as measured by the DXY index, was a touch softer on Tuesday, down about 0.35% to 102.13, undermined by…
AvigatorPhotographer/iStock via Getty Images Analysts at Stifel have downgraded Vertex Energy (NASDAQ:VTNR) to “Hold” from an investment rating of “Buy,” citing deteriorating fundamentals for refining. Stifel also trimmed its price target on VTNR to $4 from $6. In its investment thesis, Stifel wrote that over the last 18 months, VTNR has seen significant volatility in conventional refining profits, with current spreads suggesting flat to negative EBITDA in 4Q23 and FY24 from the conventional refining business. “The bottom has fallen out of the conventional refining selling prices and crack spread bring profitability down to breakeven to modest profit. There has been…
2/2 © Reuters. A volcano spews Lava and smoke as it erupts, north of Grindavik, Reykjanes Peninsula, Iceland, obtained by Reuters on December 19, 2023. Icelandic Coast Guard/Handout via REUTERS 2/2 By Jacob Gronholt-Pedersen and Tom Little COPENHAGEN (Reuters) – Lava spewing from a volcano in Iceland appeared to be flowing away from the only nearby town and the intensity of the eruption was dropping, offering hope that homes would be safe even though seismic activity could last months, officials said on Tuesday. The government said flights were unlikely to be affected, quashing international travel concerns lingering after the chaos…
After the drop towards the end of October, equities have staged a stunning rally in the last eight weeks. Of note, we got to observe fresh record highs in the Dow, DAX, and CAC 40 among the major indices. The question now is, can stocks carry over the good form during this period into next year?The key factor that traders have to recognise is that the latest rally is fueled by extremely aggressive rate cuts pricing in recent weeks. That especially for the Fed and ECB, with now 142 bps and 150 bps worth of rate cuts priced in for…
In the fast-paced world of forex trading, every trader is on the lookout for that one tool that can provide an edge, a competitive advantage. The Trend Path Non-Repaint MT4 Indicator is one such tool that has been gaining significant attention among traders. In this article, we will delve into what this indicator is, how it works, and why it has become a game-changer in the world of forex trading. Understanding Forex Indicators Before we dive into the specifics of the Trend Path Non-Repaint MT4 Indicator, let’s first understand the role of indicators in forex trading. Indicators are tools used…
Share: The Canadian Dollar is lagging other pro-cyclical currencies at the start of this week. Economists at ING analyze Loonie’s outlook. Macklem turns dovish Bank of Canada Governor Tiff Macklem said he expects rates to be cut next year. This is a surprise statement by Macklem. Offering a timeline for rate cuts appears inconsistent with the BoC claim that it ‘remains prepared to raise the policy rate further if needed’ and likely validates market’s pricing for 100 bps of easing next year. Despite our view of a Dollar decline and outperformance of pro-cyclical currencies next year, we expect…
AvigatorPhotographer The U.S. and other countries have formed a naval taskforce to protect commercial vessels traveling though the Red Sea from Houthi rebel attacks. The escalating attacks have damaged ships and threatened crew safety, forcing shipping companies to stop their vessels from entering the Bab el-Mandeb Strait until security improves. The Bab el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden, is a key shipping passage that facilitates a sixth of the world’s trade. “This is an international challenge that demands collective action,” U.S. Defense Secretary Lloyd Austin said in a statement when announcing the taskforce Operation…
BoJ, Yen, Nikkei News and AnalysisBoJ maintains negative interest rates, focus on wage-price cycleConditions for BoJ policy pivot in 2024: persistent inflation and wage growthUSD/JPY receives modest bid while the Nikkei posts sizable riseBoJ Maintains Negative Interest rates, Focus on Wage-Price CycleThe Bank of Japan (BoJ) voted to keep short term rates at -0.1% and left the yield curve control unchanged. After a Bloomberg report on the 11th of December suggested the final BoJ meeting of 2023 was unlikely to see any movement on rates, the majority of the market eased expectations of a rate hike but clearly some still…