Author: FX

EUR/USD ANALYSISFed > ECB last week contributing to euro weakness.Euro & US CPI the main attraction this upcoming week.EUR/USD bears hopeful for downside breakout.Elevate your trading skills and gain a competitive edge. Get your hands on the Euro Q4 outlook today for exclusive insights into key market catalysts that should be on every trader’s radar. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro has been largely impacted by central bank speakers last week with the Federal Reserve winning the hawkish battle. Fed Chair Jerome Powell pushed back against dovish talk and left the door open…

© Reuters. U.S. Treasury Secretary Janet Yellen meets with Chinese Vice Premier He Lifeng during a bilateral meeting ahead of a U.S.-hosted APEC (Asia-Pacific Economic Cooperation) Summit in San Francisco, California, U.S., November 10, 2023. REUTERS/Carlos Barria/ By David Lawder and Ann Saphir SAN FRANCISCO (Reuters) -U.S. Treasury Secretary Janet Yellen said on Friday that she agreed with Chinese Vice Premier He Lifeng to “intensify communication” on economic issues but warned him to crack down on Chinese companies that give material support to Russia for its war in Ukraine. The two “had candid, direct, and productive discussions” on issues from…

SlavkoSereda/iStock via Getty Images Crude oil futures rose Friday but logged a third straight weekly decline, trading at the lowest since mid-July before bouncing to end the week, as sentiment has shifted in the oil market. “Concerns about demand have replaced the fear of production outages related to the Middle East conflict,” analysts at Commerzbank said. Demand worries were raised early this week as Chinese refiners asked for less supply for December. In the U.S., consumer sentiment fell for a fourth straight month, and Federal Reserve Chair Jerome Powell suggested that officials could further raise interest rates. Front-month Nymex crude…

In the fast-paced world of forex trading, having access to accurate and reliable indicators is crucial for making informed decisions. One such indispensable tool in a trader’s arsenal is the Spearman Correlation MT4 Indicator. In this article, we will delve into the intricacies of this technical indicator, exploring its significance, functionality, and practical applications. Understanding Correlation Before we dive into the specifics of the Spearman Correlation MT4 Indicator, let’s first grasp the concept of correlation in trading. Correlation measures the statistical relationship between two or more variables. In the context of forex trading, it helps traders assess how closely related…

The S&P 500 (SP500) on Friday advanced 1.31% for the week to close at 4,415.24 points, posting gains in four out of five sessions. Its accompanying SPDR S&P 500 Trust ETF (NYSEARCA:SPY) added 1.36% for the week. After notching its best weekly performance of 2023 last Friday, the benchmark index extended those gains this week as markets remain convinced that the Federal Reserve is done hiking rates. A barrage of Fed speakers tried to tone down the market expectations, most notably among them chair Jerome Powell. The central bank chief’s hawkish remarks at a conference hosted by the International Monetary…

HJBC/iStock Editorial via Getty Images TotalEnergies (NYSE:TTE) is close to reaching a deal to purchase a fleet of natural gas-fired power plants in Texas for several hundred million dollars, as the French company looks to expand in the U.S. market, Bloomberg reported Friday. The deal for independent power producer TexGen Power’s 2.3 GW portfolio, which provides capacity equivalent to more than two nuclear reactors, could be announced as soon as next week, according to the report. The purchase would complement TotalEnergies’ (TTE) foray in the North American clean power market, which already included a gross installed capacity of 6.2 GW…

© Reuters. FILE PHOTO: Newly-elected U.S. House Speaker Mike Johnson (R-LA) walks from his office to the House floor at the U.S. Capitol in Washington, U.S., October 26, 2023.REUTERS/Sarah Silbiger/File Photo By David Morgan WASHINGTON (Reuters) -U.S. House of Representatives Republicans aim to release a stopgap measure to avert a partial government shutdown on Saturday, the morning after the Moody’s (NYSE:) credit agency lowered its outlook on the government’s credit ratings to “negative.” A knowledgeable source, who spoke on condition of anonymity, said plans for the release of the continuing resolution, or “CR,” were still in flux. It was also…

Without major economic catalysts on the forex calendar, it was central bank speak that shook things up and drove currencies this week! Source link

Share: The AUD/NZD has etched in a new weekly low at 1.0780 after a week of declines. The Aussie’s backslide comes after reaching a technical ceiling at 1.0940. Buyers to be pushed to the back end for next week if they can’t grab ahold of moving average barriers. The AUD/NZD has managed to hold on for Friday, closing out the trading week close to flat on the last day after declining over 1.1% peak-to-trough from Monday’s peak near 1.0900. The pair still remains down almost 1.4% from the last meaningful swing high into 1.0945 and Aussie bidders are…

Fitch and S&P have already downgraded the US and now Moody’s has taken a step in that direction. The credit ratings agency maintained the USA’s top Aaa rating but changed its outlook to ‘negative’.Downside risks to the US’ fiscal strengths have increased and may no longer be fully offset by the sovereign unique credit strengthsExpects that the US’ fiscal deficits will remain very larger, significantly weakening debt affordabilitySees US debt affordability to decline further, steadily and significantly, to very weak levels vs other highly-rated sovereignsPolitical polarization in Congres raises risk successive govt not able to reach consensus on plan to…