Author: FX
Article by IG Chief Market Analyst Chris BeauchampDow Jones, Nasdaq 100, Nikkei 225 Analysis and ChartsDow returns to trendline resistanceThe index has seen its momentum fade after the huge gains of the past week, though it continues to hold above the 200-day simple moving average (SMA). Wednesday saw the index touch trendline resistance from the July highs, for the first time since early September. A push above this line would be a clear bullish development, and open the way towards the highs of early September towards 35,000.For the moment there is no sign of any downside momentum, but a close…
Hogogo/iStock via Getty Images U.S.-China ties will be in focus as Treasury Secretary Janet Yellen hosts Chinese Vice Premier He Lifeng on Thursday and Friday in San Francisco to discuss topics including U.S. concerns about Beijing’s trade practices and potential areas for cooperation. Yellen had previously insisted that the U.S. is seeking healthy economic competition that benefits both countries, but that requires a level playing field for American workers and firms. Chinese Vice President Han Zheng at an event on Wednesday said recent high-level meetings between U.S. and China indicated that ties were improving. “We’re ready to strengthen communication and…
© Reuters. FILE PHOTO: European Central Bank chief economist Philip Lane speaks during a lecture at the University of Cyprus in Nicosia, Cyprus April 5, 2023. REUTERS/Yiannis Kourtoglou/File Photo FRANKFURT (Reuters) – The European Central Bank’s balance sheet needs to be much smaller but cannot shrink back to levels seen in its early years, ECB chief economist Philip Lane said on Thursday, just as policymakers are discussing a new operational framework. The ECB promised to devise by next week a new operational framework for steering short term interest rates and the key question is just how big its balance sheet…
GBP/AUD has been making higher lows and higher highs! Will we see a trend extension in the next trading sessions? Source link
SoftBank books another quarterly loss, as investment hits offset ArmFULL STORYIts Vision Fund investment unit, meanwhile, booked an investment profit of 21.4 billion yen in the latest quarter, having made a 160 billion yen profit three months earlier. The net loss at group level of 789 billion yen compares with a 3.01 trillion yen profit a year earlier when it sold down a large portion of its stake in Chinese e-commerce giant Alibaba. Source link
Share: NZD/USD trades higher as the US Dollar takes a breather. Downbeat China’s CPI had no impact on the Kiwi pair. RBNZ’s inflation report contributed to pressure on the NZD. NZD/USD trades higher near 0.5930 during the Asian session on Thursday, rebounding from the weekly lows as the US Dollar took a breather. Moreover, China’s mixed data had a neutral impact on the Kiwi Dollar (NZD). Chinese Consumer Price Index (CPI) recorded a yearly decline of 0.2% in October, slightly exceeding the expected drop of 0.1%. Meanwhile, the Producer Price Index (YoY) experienced a decrease of 2.6%, performing…
Andrzej Rostek/iStock via Getty Images Atara Biotherapeutics (NASDAQ:ATRA) stock plunged 50% in after-hours trading Wednesday after the company said that a Phase 2 study for its drug ATA188 in the treatment of multiple sclerosis failed to meet its primary endpoint. Atara said it is evaluating the data to decide the next steps for the program, but anticipates stopping the study as no treatment benefit was observed. The biotech company said it plans to significantly cut expenses on ATA188 moving forward and focus its resources on its differentiated allogeneic CAR-T pipeline, along with its expanded partnership with Pierre Fabre for its…
© Reuters. Pedestrians walk past the Finance Ministry building in Tokyo March 13, 2009. REUTERS/Toru Hanai/File Photo By Tetsushi Kajimoto TOKYO (Reuters) – Japan logged in September its largest current account surplus in 18 months as the trade balance swung into the black, the Ministry of Finance (MOF) said on Thursday, with hefty gains from overseas investments boosting the balance of payments. Japan’s current account surplus stood at 2.72 trillion yen ($18.03 billion) in September, the MOF data showed, a little shy of economists’ median forecast for a surplus of 3.0 trillion yen in a Reuters poll. It was the…
AUD/USD OUTLOOK:AUD/USD extends pullback after failing to clear overhead resistance around the 100-day simple moving averageThe breakout that took place last week appears to have been a fakeoutThis article looks at AUD/USD’s key technical levels to watch in the coming trading sessions Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter AUD/USD TECHNICAL ANALYSISThe Aussie embarked on a brief bull run against the U.S. dollar at the outset of the month, bouncing from horizontal support around the 0.6300 handle and breaking out on the topside. The initial…
With volatility looking to pick up for Sterling ahead and likely to create swing opportunities, we thought this rising channel on GBP/USD is one to watch for both the bulls and the bears to check out! GBP/USD 4-Hour Chart by TradingView What’s up forex playas! GBP/USD is an interesting candidate for both technical bulls and bears, thanks to a classic consolidation pattern formation currently seen on the four hour chart above. This pattern comes at the end of a long downtrend, one that started way back in July when GBP/USD traded around the 1.3100, and it’s slightly leaning bullish with…