Author: FX

© Reuters. Occidental Petroleum (NYSE: NYSE:) has been on a strategic path to strengthen its financial footing since its high-stakes acquisition of Anadarko Petroleum (NYSE:) back in 2019. The $55 billion deal, supported by a $10 billion preferred stock investment from Warren Buffett’s Berkshire Hathaway (NYSE:) (NYSE: BRK.A)(NYSE: BRK.B), was a bold move that expanded Occidental’s presence in the Permian Basin. The company offered an attractive $76 per share, with 50% of the equity value in cash, outshining Chevron (NYSE:)’s $65 per share bid. Following the acquisition, Occidental faced financial strain due to the high cost of Berkshire Hathaway’s investment.…

CHF/JPY is retesting a resistance level that hasn’t been broken in weeks! In case you weren’t around during the Asian session, talks of a currency intervention by the Bank of Japan (BOJ) went around after USD/JPY dropped sharply from 151.90 to around 151.30 levels. The move was eventually canceled out but threats of a BOJ intervention probably kept at least some traders from selling more JPY. 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™…

Prior +3.5%HICP +3.5% vs +3.5% y/y prelimPrior +3.3%No changes to the initial estimates as core annual inflation is seen falling from 5.8% in September to 5.2% in October. That will be a comforting development for the ECB at least, although it is still at a very high level. This article was written by Justin Low at www.forexlive.com. Source link

Share: USD/JPY treads water to hold ground near yearly highs ahead of the US data. US Treasury Secretary Yellen disagrees with Moody’s decision last week to cut its outlook on US debt. A former BoJ official stated that the central bank is likely to raise short-term rates to around 0.0% from -0.1% in April 2024. The USD/JPY hovers around 151.70 during the Asian session on Tuesday. The USD/JPY pair holds onto yearly highs, and there’s potential for it to surpass these levels if the US Dollar (USD) successfully halts its recent losses. However, the Greenback is encountering headwinds from…

By Steve Gorman and Daniel Trotta LOS ANGELES (Reuters) -U.S. investigators have determined as arson a weekend fire that severely damaged an elevated stretch of a major Los Angeles freeway and forced its indefinite closure, state officials said on Monday. The findings came as California Governor Gavin Newsom revealed that the state had recently sued to evict the company that was leasing storage space on state property beneath the Santa Monica Freeway where the fire began early on Saturday. But the governor said nothing to suggest the arson investigation was related to the eviction action or to any of the…

Monty Rakusen/Cultura via Getty Images Teck Resources (NYSE:TECK) is in advanced discussions to sell its coal business to Glencore (OTCPK:GLCNF). The deal may value the coal business at close to $10B and may be announced as soon as this week, according to a WSJ report on Monday, citing people familiar with the matter. Teck (TECK) has been weighing a potential sale of the coal business as part of a comprehensive business review, as it tried to fend off a $23B takeover offer from Glencore earlier this year. Teck (TECK) CEO Jonathan Price said last month that the company had received…

National Australia Bank Business Survey for October 2023:Confidence -2 prior 0Conditions +13 prior +12more to come This article was written by Eamonn Sheridan at www.forexlive.com. Source link

In the ever-evolving world of Forex trading, success is often determined by one’s ability to decipher market trends and make informed decisions swiftly. To achieve this, traders rely on a myriad of tools and indicators to aid them in their quest for profitability. Among these tools, the Price Action Scanner MT4 Indicator stands out as a powerful ally, offering traders unparalleled precision and insight into market movements. In this article, we will delve deep into the world of the Price Action Scanner MT4 Indicator, exploring its functionalities, advantages, and how it can transform your trading strategies. Understanding Price Action Analysis…

We’re back checking out GBP/USD ahead of what could be a very eventful week of data from both the U.S. and the U.K. Will it be enough to break the consolidation of the four hour chart or are there more range plays ahead? GBP/USD 4-Hour Chart by TradingView As always, a currency pair’s next move is determined by the fundamentals, and in Cable’s case, it’s likely that the outcome of the U.K. jobs update and the U.S. CPI update this week may determine the pair’s next move. If you haven’t caught up on those two events, you can check out…

Share: The AUD/NZD is grinding it out on Monday, testing into higher ground. The Aussie is rebounding on a technical basis after declining most of November. Resistance is piled up, bulls face uphill battle. The AUD/NZD has climbed nearly 0.6% as the Aussie (AUD) rallies against the Kiwi (NZD) following two straight weeks of declines. Hourly candles have the AUD/NZD running straight into the 200-hour Simple Moving Average (SMA) just south of 1.0860. The pair was constrained by the 50-hou SMA following early November’s decline from 1.0900, and now the AUD/NZD finds itself trading into the top end…