Author: FX
The AUDUSD is trading at session highs and trading up 0.70% on the day. The gain is only behind the NZDUSD which has moved up 0.80% so far today. The rise is being helped by a divergence of rates. The FOMC yesterday kept rates unchanged with what was perceived as a more dovish tilt. Meanwhile, the RBA is scheduled to meet on November 7th with the bias tilting to a rise of 25 basis points to 4.35%. Although the Australia 10 year yield is down 3 bps today to 4.797%, the yield has moved from 3.963% to 4.797% or 83…
Share: AUD/USD gains traction for the second straight day and climbs to over a three-week top. The post-FOMC USD selling bias turns out to be a key factor behind the ongoing move up. A move beyond the 50-day SMA and the 23.6% Fibo. supports prospects for further gains. The AUD/USD pair builds on the previous day’s strong move up and gains some follow-through positive traction for the second successive day on Thursday. The momentum is fueled by the post-FOMC US Dollar (USD) weakness and lifts spot prices to the 0.6435 area or a three-week top during the Asian…
Jennifer Miranda/iStock via Getty Images Restaurant chains McDonald’s (NYSE:MCD) and Chipotle Mexican Grill (NYSE:CMG) anticipate raising prices next year in California in order to pass on some of the hit from the U.S. state’s recent minimum wage hike for fast food workers. In late September, California governor Gavin Newsom signed legislation that will raise the minimum wage for the state’s 500K fast food workers to $20/hour in April, 2024 from around $16/hour in 2022. Newsom at that time had said that the legislation was one step closer to “fairer wages, safer and healthier working conditions, and better training.” McDonald’s (MCD)…
© Reuters. FILE PHOTO: A Boeing logo is seen at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 18, 2023. REUTERS/Benoit Tessier/File Photo WASHINGTON (Reuters) -Boeing said on Wednesday it is investigating a cyber incident impacting elements of the company’s parts and distribution business and is cooperating with law enforcement. Boeing (NYSE:) acknowledged the incident days after the Lockbit cybercrime gang said on Friday it had stolen “a tremendous amount” of sensitive data from the U.S. planemaker that it would dump online if Boeing didn’t pay ransom by Nov. 2. Boeing declined to comment on…
EUR/USD & GOLD PRICE FORECASTGold prices and EUR/USD could gain ground in the near term, but the broader trend may hinge on incoming U.S. economic dataAttention will be on the ISM services PMI and the U.S. labor market report later this weekThis article looks at XAU/USD and EUR/USD’s key levels to watch in the coming days Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Fed Stays Put, Keeps Hiking Bias; Gold & US Dollar Display Limited VolatilityThe Federal Reserve today concluded its penultimate meeting…
Good morning, afternoon and evening all. The Fed kept rates unchanged with the Fed Chair dancing around future policy expectations. The Fed Funds futures for December are pricing no change in policy. You have to go to July to see some easing expectations (implying 5.09%). The September contract is implying 4.87%. The US stock market rallied for the 3rd consecutive day this week with the NASDAQ leading the way with a gain of 1.64%. The broader S&P index also rose by 1.05% . US yields fell sharply helped by the treasury indicating they would need to issue less bonds and…
It’s a new month, which means we’re likely to see lots of volatility for the Greenback thanks to a busy U.S. calendar. And that means there’s still potential for lots of short-term opportunity in USD pairs, including this up trending market on USD/CHF. Will the bulls stay in control? USD/CHF 1-Hour Forex Chart by TradingView What’s up FX playas! As mentioned above, it’s already near the end of the week but there’s still lots of potential action to be had for the U.S. dollar with an incredibly busy calendar of jobs & business sentiment updates from the U.S. The most…
Share: GBP/JPY achieves losses of 0.54%, clinging to the top of the Ichimoku Cloud at 183.20s. Upbeat market sentiment and fears of Japanese authorities intervening could cap the potential rally. If GBP/JPY dives inside the Kumo, the first support is at 183.00, followed by Tenkan-Sen at 182.52. The Pound Sterling (GBP) losses some ground against the Japanese Yen (JPY) on Wednesday but clings to the top of the Ichimoku Cloud (Kumo) at around 183.20s, though it achieves losses of 0.54%. An upbeat market sentiment has capped the GBP/JPY fall inside the Kumo, which could open the door for…
U.S. Jobs Friday is back which likely means lots of action for the Greenback to close out this week! Are you looking to grab some short-term pips or setup a swing trade with this event? If so, be sure to check out our latest scouting report on the U.S. employment sector before working on your game plan! 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! Source link
FOMC INTEREST RATE DECISION KEY POINTSThe Federal Reserve stands pat on monetary policy, keeping interest rates unchanged at 5.25%-5.50% for the second straight meetingForward guidance leaves the door open for further policy firmingGold and the U.S. dollar display limited volatility after the FOMC statement was released as traders await Powell’s press conferenceMost Read: Bank of England Preview – Rates to Stay Put but QT due for Review?The Federal Reverse today concluded its penultimate conclave of the year, voting unanimously to keep the target for its reference interest rate at a 22-year high within the current range of 5.25% to 5.50%.…