Author: FX
2/2 © Reuters. Smoke rises after Israeli air strikes in north Gaza, as seen from southern Israel, amid the ongoing conflict between Israel and the Palestinian group Hamas, November 23, 2023. REUTERS/Alexander Ermochenko 2/2 By Bassam Masoud and Janis Laizans GAZA/ISRAEL-GAZA BORDER (Reuters) – Hamas fighters released 24 hostages on Friday during the first day of the war’s first truce, the Red Cross said, including Israeli women and children and Thai farm workers. Nine hours after guns fell silent for the first time in seven weeks, the Red Cross said it had begun an operation to facilitate the transfer of…
ECB’s Muller is chatting late on Friday in Europe saying:Inflation is clearly showing a trend of slowingWe probably do not need to increase rates anymore. High ECB rates are smaller problem than high inflation. This article was written by Greg Michalowski at www.forexlive.com. Source link
Citigroup has started their purging of manager jobs as they start the reorganization. Now The Guardian is reporting that Lloyds is looking to shed 2,500 jobs in their own shakeup. Job cuts beget job cuts. Banks and financial institutions tend to march to the same drum when they hire (the competition for deals is intense) and also when they get over their skis with too many hires. Major U.S. banks have been quietly downsizing their workforces throughout this year, despite the economy’s unexpected resilience, and some of the most significant layoffs are yet to come. JPMorgan Chase stands out as…
The major European indices are closing the day marginally higher:German Dax, +0.22%France CAC, +0.20%UK FTSE 100, +0.06%Spain’s Ibex, +0.34%Italy’s FTSE MIB, +0.68%Euro Stoxx, +0.30%For the trading week, Spain’s Ibex led the upside, while the UK FTSE 100 and Italy’s FTSE MIB closed lower for the week. :German Dax, +0.69%France CAC, 0.81%UK FTSE 100, -0.21%Spain’s Ibex, 1.82%Italy FTSE MIB -0.24%As London/European traders head for the exit, the CAD is the strongest and the JPY is the weakest. THe USD is also lower with the greenback falling 0.62% vs the CAD, 0.56% vs the NZD, and 0.57% vs the GBP. The Canada…
US PMI KEY POINTS:S&P Global Composite PMI Flash (Nov) Actual 50.7 Vs Previous 50.7.S&P Global Manufacturing PMI Flash (Nov) Actual 49.4 Vs Forecast 49.8.S&P Global Services PMI Flash (Nov) Actual 50.8 Vs Forecast 50.4.Employment Declined at US Service Providers and Manufacturers in November for the First Time Since Mid-2020 Amid Tepid Demand and Elevated Costs.To Learn More AboutPrice Action,Chart PatternsandMoving Averages, Check out theDailyFX Education Section. Recommended by Zain Vawda Introduction to Forex News Trading US Business Activity remained steady in November with a marginal expansion in output. The rate of growth in business activity in line with that seen…
As the US stock market prepares to open for the holiday shortened week, the major indices are looking to open little changed. The Dow is up 49 points after closing up 184.74 points on WednesdayThe S&P is up 0.88 points after closing up 18.45 points on WednesdayThe Nasdaq is trading -9.5 points after closing 65.88 points on WednesdayFor the trading week, the major indices are on pace to close higher for the 4th week in a row with gains coming into the day of around 1.0%:Dow is up 0.93%S&P is up 0.94%Nasdaq is up 0.99%The major indices will close early…
We’ve always stressed that deliberate practice and repetition enable you to work on your trading flaws and determine what works and what doesn’t in your trades. Ultimately, this can lead to consistently profitable trades. But once you are comfortable with a tried-and-tested strategy, you might want to consider trading outside your comfort zone. I’m not saying that you should quadruple the position size in your next trades, ditch your old trading plan, or even trade in your underwear outside your house (though that would make for a good viral video). Trading outside your comfort zone can be as simple as…
Share: USD/CAD holds little changed. Economists at Scotiabank analyze the pair’s outlook. Charts pressure USD support in high 1.36s The CAD is flat-lining on the charts. Short and medium-term directional signals are neutral and trend momentum is extremely weak. But the USD is putting incremental pressure on short-term support (off the October/November lows at 1.3673) and is close to testing major trend support off the July low at 1.3660. The bearish weekly reversal signal from the start of the month continues to point to risk of more USD losses in the weeks ahead. Resistance remains 1.3770/1.3775. Source…
Gold (XAU/USD) Analysis, Prices, and ChartsGold looking to push higher despite quiet conditions.Gold ignoring higher US bond yields. Recommended by Nick Cawley Traits of Successful Traders DailyFX Economic CalendarGold is edging higher in a quiet market and looks ready to re-test both $2,000/oz. and the recent multi-month high at a fraction under $2,010/oz. The precious metal is holding its own against rising US government bond yields today, although low volume conditions may be distorting both markets. The only data release of note today, flash S&P PMIs at 14.45 UK, may add a bout of volatility but market conditions are likely…
Japanese Yen News and AnalysisMonth on month Japanese inflation rose at its fastest pace in 10 yearsExtreme short yen positioning yes to be tested during thin, holiday affected tradingUSD/JPY on track for a flat two-day period ahead of Thanksgiving weekendThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryJapanese Inflation Accelerates at its Fastest Pace Over the Last 10 YearsJapanese inflation (headline CPI) rose to 3.3% from the prior 3.0% for the month of September, while the global measure of core inflation (inflation minus volatile items…