Author: FX

Share: Australian Dollar hovers around a major level ahead of the US PPI, Fed policy decision. Australia’s Treasurer Jim Chalmers presented a budget forecast of AUD 1.1 billion in the MYEFO, down from the AUD 13.9 billion previous forecast. US CPI and Core CPI came in at 3.1% and 4.0% YoY, respectively, as expected. FOMC is expected to make no change in its policy rates. The Australian Dollar (AUD) continues to lose ground on Wednesday, particularly after the release of moderate Consumer Price Index (CPI) data from the United States (US). The AUD/USD pair exhibited high volatility in…

© Reuters. U.S. President Joe Biden and Ukraine President Volodymyr Zelenskiy shake hands across the table during a meeting in the East Room of the White House in Washington, U.S. September 21, 2023. REUTERS/Kevin Lamarque/File Photo WASHINGTON (Reuters) – U.S. President Joe Biden told Ukrainian President Volodymyr Zelenskiy not to give up hope in his country’s fight against Russia’s invasion as the two leaders met in Washington to discuss support for Kyiv. “We’re going to stay at your side,” Biden told Zelenskiy. Earlier on Tuesday, Biden urged the U.S. Congress to fund additional aid before leaving for its holiday recess…

Lisa Maree Williams/Getty Images News The $5 a share contingent value right in Astrazeneca’s (NASDAQ:AZN) planned $1.1 billion purchase of Icosavax (NASDAQ:ICVX) is based on FDA approval of RSV vaccine candidate IVX-A12 and some sales metrics. The $4 a share CVR is based on the FDA approving IVX-A12, any vaccine incorporating IVX-A12 or any vaccine covered by the company’s patent rights prior ot the sixth anniversary of the effective time of the merger, according to a filing late Tuesday. The $1 per share CVR is based on if a selling entity achieves $200 million in net sales of all products…

NASDAQ 100 FORECAST:The Nasdaq 100 consolidates higher and reaches its best level since January 2022 after staging a bullish breakout in recent daysWhile the index’s technical outlook remains positive, the Fed could end the party on Wall StreetThe FOMC is seen holding interest rates steady at its December meeting, but policy guidance may be hawkish 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 on Edge Before Fed Decision, Technical Setups on EUR/USD & GBP/USDThe Nasdaq 100 and S&P 500 consolidated higher and…

If you’re looking for volatility and solid technical swing play setups, GBP/AUD may be the thing to watch with a near unbreakable range and top tier catalysts ahead for both the Aussie and Sterling! GBP/AUD 4-Hour Forex Chart by TradingView As we mentioned in yesterday’s technical analysis coverage of EUR/AUD, Australia is set to release its latest jobs data to likely get the Aussie moving this week, and Sterling is getting ready to rock with the last monetary policy statement of 2023  from the Bank of England on Thursday! Remember that directional biases and volatility conditions in market price are…

This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.Via oilprice.com on Twitter:–Expectations I had seen centred on:Headline crude -0.7mn barrelsDistillates +0.6 mn bblsGasoline +1.9 mn–This data point is from a privately-conducted survey from the American Petroleum Institute (API).It’s a survey of oil storage facilities and companiesThe official report is due Wednesday morning US time.The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)Its based on data from the Department of Energy and other government agenciesWhereas information on total crude oil storage levels…

Share: The Canadian Dollar sheds weight on Tuesday, walks back Monday gains. Economic data from Canada remains absent on the calendar. Crude Oil is plunging as markets reassess slowing global growth, causing demand declines to outpace production cuts. The Canadian Dollar (CAD) fell back on Tuesday as markets shuffled their stance following US Consumer Price Index (CPI) inflation figures that exactly met market expectations, pointing to dwindling growth looking forward.  Canada sees little to no meaningful data on the economic calendar this week, leaving the CAD to get dragged around the charts by the broader market. Crude Oil…

Before the year comes to a close, the Bank of England will make its final monetary policy statement of 2023.  What’s expected this time? And how might pound pairs react to potential changes in the central bank’s bias? 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

Pan American Silver (NYSE:PAAS) shares were on track for their seventh consecutive session of losses on Tuesday, as the stock fell over 3% to $14.34 in afternoon trading, its lowest since Nov. 17. The Canadian company lost about 7% in the preceding six sessions. Overall shares have fallen over 16% since the start of the year. Pan American Silver closed 0.5% lower on Monday. November has been a mixed month for the company, with 12 sessions in green and nine in red. Looking at Seeking Alpha’s Quant Rating, PAAS has a Hold rating with a score of 2.72 out of…

Most Read: Gold Price Outlook Rests on Fed’s Guidance, Nasdaq 100 Breaks OutThe U.S. dollar could face increased volatility in the coming days, courtesy of several high-impact releases on the economic calendar, although the most important risk event for financial markets will likely be the FOMC decision, particularly with the November Consumer Price Index report in the rear-view mirror and behind us.The Federal Reserve will announce its December monetary policy verdict on Wednesday. Officials are expected to retain the status quo for the third consecutive gathering, keeping borrowing costs in their current range of 5.25% to 5.50%.In terms of forward…