Author: FX

© Reuters. FILE PHOTO: SENSITIVE MATERIAL. THIS IMAGE MAY OFFEND OR DISTURB A drug consumer injects a mixture of the opioid fentanyl and heroin at Richman (Echo) Park in the Bronx borough of New York City, U.S., July 20, 2023. REUTERS/Shannon Stapleton/File Phot By Brendan Pierson (Reuters) – A federal judge on Monday pared back a U.S. government lawsuit accusing drug distributor Cencora, formerly called AmerisourceBergen (NYSE:), of fueling the nation’s deadly opioid epidemic by failing to report hundreds of thousands of suspicious orders of prescription painkillers. U.S. District Judge Jerry Pappert in Philadelphia federal court ruled that the government…

NASDAD 100, USD/JPY FORECAST:Nasdaq 100 rises for the seventh straight day, but gains are capped by rising U.S. ratesU.S. Treasury yields resume their advance after last week’s pullbackMeanwhile, USD/JPY perks up, putting an end to a three-day losing streak, with the broader U.S. dollar benefiting from the move in bonds Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Setups – EUR/USD, GBP/USD and AUD/USD Muted as Bullish Momentum WanesAfter struggling for direction for much of the trading session, the Nasdaq 100 finished…

The major indices closed modestly higher to start the trading week. The NASDAQ is now up for the 7th consecutive day. The S&P and the Dow industrial average rose for the 6th consecutive day. Last week the major indices had their best week of the year.The final numbers today are showing:Dow Industrial Average Rosa 34.54 points or 0.10% at 34095.87S&P index rose 7.64 points or 0.18% at 4365.99NASDAQ index rose 40.49 points or 0.30% at 13518.77Looking at some of the big movers today:Nvidia rose 1.66%Apple rose 1.52%Microsoft rose 1.06%Amazon rose 0.87%Chipotle rose 1.35%Costco rose 1.59%Some losers today included:Caterpillar fell -1.03%Ford…

Heads up to Equity Index playas! The S&P 500’s massive rally at the end of October brought it back to the top of a falling channel. What’s the pattern that may signal the bears held once again?  Or is it time for the bulls to break higher? We’re taking cues from the 4-hour chart today: S&P 500 (US500): 4-Hour S&P 500 (US500) 4-Hour Chart by TradingView On the four hour chart of the S&P 500 Index (US500 CFD), we’ve got a pattern of lower ‘highs’ and lower ‘lows’, creating a textbook falling channel pattern.  This is a trending price pattern,…

Share: DXY index trades near 105.20 with 0.15% gains. US government bond yields are rising, rebounding from multi-week lows. The economic docket had no relevant high-tier reports to offer on Monday. Chair Powell will be on the wires on Wednesday. The US Dollar (USD) traded flat on Monday, and the DXY index stands near 105.20, cushioned by a sour market mood and rising US bond yields.  For the rest of the week, investors will put an eye on Chair Powell’s speech on Wednesday to get further clues on the next Federal Reserve meeting in December. The labor market in the…

With a relatively light calendar ahead, the latest economic expectations survey data from the Reserve Bank of New Zealand may create short-term opportunities in the Kiwi. What are industry leaders in New Zealand feeling about prices ahead and could that prompt speculation of a more hawkish RBNZ stance? Catch up on the event before planning out your price strategy and risk management moves! 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™ sections Plus More!…

XAU/USD, XAG/USD PRICE FORECAST:MOST READ: Japanese Yen Weekly Forecast: BoJ Tweak Fails to Inspire but Dollar Weakness Looks Promising for USD/JPYGold prices are consolidating today following another attempt at the $2000/oz handle on Friday. Despite the weaker US Dollar we are seeing a slight recovery in US Yields and improving risk appetite which is sure capping gains for the precious commodity.Supercharge your trading prowess with an in-depth analysis of gold’s outlook, offering insights from both fundamental and technical viewpoints. Claim your free Q4 trading guide now! Recommended by Zain Vawda Get Your Free Gold Forecast US DATA WEAKENING?The $2000/oz level…

AZemdega/E+ via Getty Images Morgan Stanley indicated on Monday that 2023’s holiday shopping season will see spending that resembles a similar output as 2022, with individuals expecting to spend roughly the same amount on holiday gifts and products. The financial institution outlined its complete breakdown of its forty-eighth survey of ~2,000 consumers across the United States, which ran from October 26–30, to gauge consumer behavior ahead of the upcoming holiday season. “Overall, 37% of consumers are planning to keep their holiday budgets roughly the same, 27% expect to spend less, and 25% expect to spend more. This means that retailers…

© Reuters By Carolina Mandl NEW YORK (Reuters) -Many of the world’s biggest multi-strategy hedge funds crossed the finishing line of a challenging October for markets with gains, sources familiar with the matter told Reuters. Multi-strategy hedge funds have some upper hand in difficult times for markets, as they trade many different assets from equities to currencies and credit and in multiple different strategies. Citadel’s flagship hedge fund Wellington ended October up 1%, while Millennium rose 0.6%, Schonfeld Fundamental Equity gained 1.15% and ExodusPoint advanced 0.69%, according to the sources. Their performance year-to-date, however, is more mixed, though still positive.…

The USDCHF fell sharply on Friday after the US jobs report, and in the process broke below key moving averages including the it’s 200-day moving average at 0.9002, and it’s 100-bar moving average on the 4-hour chart (currently at 0.8997). The momentum to the downside continued today with the price moving down to a low of 0.89528. That got within 5 or so pips of the high of a swing area between 0.89316 and 0.89472 (see red number circles on the chart below). Getting below that area would increase the bearish bias, and have traders looking toward the 100-day moving…