Author: FX
US crude futures settle at $77.17. That’s up $1.43 or 1.89% on the day.For the trading week, oil prices are trading up around 2.07%The high for the day reached $77.69. The low price reached $75.36. Catalysts include:Concerns over global growth took precedence in the market, overshadowing geopolitical risks in the Middle East.Iraq’s oil minister reiterated the country’s commitment to the OPEC+ agreement on production levels but noted that increased oil exports by some OPEC members are considered “natural.”Brazil’s rising oil production, with Petrobras announcing a new USD 100 billion capex 5-year plan, remained a focal point.Ukraine’s Energy Minister suggested potential…
Share: The DXY index trades with mild losses at 105.80, closing a 0.80% weekly gain. Fed hawks revived USD strength during the week. UoM consumer sentiment data come in lower than expected. The focus shifts to next week’s inflation figure from the US from October. The US Dollar (USD) showed minimal movement on Friday. The DXY index, which measures the value of the US Dollar versus a basket of global currencies, stood with slight losses at 105.80 as bulls seem to be taking a hiatus. The Greenback strengthened after Federal Reserve (Fed) hawks hinted that there may be…
Share: The New Zealand Dollar declines across the board on Friday but rebounds late in session. Kiwi weakness comes from a combination of a negative global growth outlook and US Dollar outperformance. Hawkish commentary from Fed Chair Powell set the US Dollar trending higher against the Kiwi, NZD/USD resumes decline. The New Zealand Dollar (NZD) has spent most of Friday in a weak posture vis a vis the US Dollar (USD). That followed a run of weak data from China, New Zealand’s biggest trading partner. The NZD/USD pair, however, is moving in the Kiwi’s favor late in the session…
Tyson Foods Q4 2023 Earnings Preview Source link
Share: HSBC hands TSLA stock a Reduce rating and price target of $146. Tesla stock is consolidating right on top of $210 support level. HSBC analyst says too much of Tesla growth story comes at end of decade. President Joe Biden supports UAW attempt to unionize Tesla factories. Tesla (TSLA) stock is holding onto a 2.3% gain into the close on Friday afternoon, ahead of the NASDAQ Composite, which has rallied 1.9%. TSLA stock is hovering just above an important support zone at $210. Should it give way, shareholders could experience a 24% drop to long-term support. A negative…
© Reuters. By Mike Stone (Reuters) -The U.S. Air Force’s B-21 “Raider” bomber shaped like a flying wing took its first flight on Friday, the next step in rolling out a new fleet of long-range nuclear-capable stealth bombers built by Northrop Grumman (NYSE:), according to a Reuters witness. The B-21 left Northrop’s facility at the Air Force’s Plant 42 in Palmdale, California, at sunrise on Friday offering the first unscripted look at the new bomber which has been developed under strict security. The plane took off at 6:51 a.m., according to a Reuters witness. Air Force leaders did not publicize…
We will continue to forecast spending to slow, it will take some timeEstimates that they got into restrictive territory about a year agoWe have heard from Bostic plenty lately so there’s no scope for his comments to be market moving. This article was written by Adam Button at www.forexlive.com. Source link
USD/CAD PRICE, CHARTS AND ANALYSIS:Hawkish BoC Fails to Inspire CAD Bulls.A Rebound in Oil Today has Failed to Spark USDCAD into life, Will Fedspeak do the Trick?Taking a look at the IG client Sentiment Data and we can see that Retail Traders are Currently Net-SHORT with 72% of Traders Holding Short Positions.To Learn More About Price Action,Chart PatternsandMoving Averages, Check out theDailyFX Education Series.Read More: The Bank of Canada: A Trader’s GuideUSDCAD has continued to rally after finding support around the 1.3650 mark on Monday. Since then, it has rallied close to 200 pips as the US Dollar Index inched…
Trading can be overwhelming for some. As an active trader, you are constantly bombarded with information from the economic calendar, such as economic data releases, scheduled speeches from government officials, and media reports. And let’s not forget the unexpected geopolitical events that arise. It’s difficult sometimes to make sense of it all…to see which specific information actually has an impact on your trades. Trading plans you created just a couple hours ago can become irrelevant and useless with a single breaking news alert. When things don’t go as planned, it can be frustrating, but it’s crucial that you remain calm.…
Share: USD/CAD holds around 1.38. Economists at Scotiabank analyze the pair’s outlook. The rebound looks no more than a consolidation With no domestic data ahead, external drivers will remain key influences on the direction of the market in the short run but downside potential for the CAD from here still looks limited. There are no clear signs from short-term price action that the USD rebound cannot extend a bit more but intraday price action has stalled in the low 1.38 area, with some minor congestion resistance doing enough to slow the USD recovery so far today. The USD…