Author: FX

S&P 500 & GOLD PRICE FORECAST:Gold (XAU/USD) Struggles as Sentiment Improves. Will a Sustainable Move Above $2000/oz Materialize?S&P 500 Ended Last Week Down 10% from the YTD High. This is Usually Seen as a Correction.A Host of Earnings and Data Releases Lie in Wait. Will the Earnings and Data Releases be Able to Overshadow the Geopolitical Risks and Drive Market Moves This Week?To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section.Most Read: Euro Weekly Forecast: EUR/USD, EUR/JPY Remain Vulnerable Following Lackluster ECB MeetingThe S&P 500 looks set to arrest its slump today…

© Reuters. PT Bank Rakyat Indonesia (BRI) has reported a significant uptick in its financial performance for the first three quarters of 2023. The bank recorded a 9.93% asset growth, a net profit increase of 12.47%, and a credit disbursement surge of 12.53%. This was largely driven by an 11.01% rise in micro, small, and medium enterprises (MSME) loans, which contributed to the expansion of the credit portfolio. BRI’s commitment to Environmental, Social, and Governance (ESG) principles has also paid dividends, with ESG-related loans growing by 11.89%. The bank’s effective risk management strategies have led to a reduction in the…

You may or may not have heard the term ‘”ICT”’ thrown around in the forex trading websites, blogs, and communities. This term has been around in the industry for many years but gained a huge amount of traction in the last 2-3 years. ICT means Inner Circle Trading. Inner Circle Trading is owned and operated by a well-known trader Michael Huddlestone, who has over 20 years of experience in trading the markets. In this article, we’ll look at the history of ICT, how you can use this trading style, and everything you need to know! So, let’s get into it!…

Global markets have been gripped by escalating tensions in the Middle East, with particular focus on the ongoing conflict between Israel and Hamas. Oil prices, which had slightly eased last week, are once again on edge due to concerns that the conflict might disrupt supplies. The Energy Information Administration’s recent data indicated a drop in demand and an unexpected rise in US crude inventories, adding to the market’s cautious atmosphere. Oil Market Uncertainty: USoil is currently trading at $84.07 per barrel, reflecting a further 1.7% decline. Brent crude stands at $89.05. Despite a relative calm in prices at the beginning…

USDJPY 1 hourUSD/JPY has fallen to the lowest since October 11 on signs that Bank of Japan will boost its yield cap above 1%.On Friday, two reports said the BOJ was planning to boost its inflation forecasts and today, Nikkei reported that the central bank will consider policy tweaks. That could mean the ceiling on yield curve control is lifted above 1% to a higher zone or removed altogether.Importantly, the BOJ could also hint at the early steps of an interest rate normalization.Perhaps that’s too much for such an early stage but crowded USD/JPY longs began clearing out on Friday…

Share: Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes EUR/USD outlook. It takes a genuine surprise to really excite the market As US data continues to outperform expectations, and the rates market prices in mid-2024 RECN easing with greater conviction, there is still more danger of EUR/USD heading closer to parity, than making a move back above 1.10.  Expectations for strong US data and weaker figures in Europe, mean that it takes a genuine surprise to really excite the market, but for all that, reminders of economic divergence on sentiment can build up until they reach…

RAND TALKING POINTS & ANALYSISGeopolitics, Fed and Chinese factors at play.USD/ZAR rising wedge breakout now limited by support zone.USD/ZAR FUNDAMENTAL BACKDROPMacro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE guide now! Foundational Trading Knowledge Macro Fundamentals Recommended by Warren Venketas The South African rand has been largely influenced by global external factors of recent including Federal Reserve interest rate expectations for the FOMC announcement later this week. With almost 100% certainty of a rate pause, other variables such as the war in the Middle East has negatively impacted the rand…

JHVEPhoto/iStock Editorial via Getty Images Lumentum (NASDAQ:LITE) is acquiring Cloud Light Technology in a deal valued at about $750M. The acquisition is expected to accelerate Lumentum’s push into the fast growing segments of optical modules used in cloud computing data center infrastructure, according to the company. “With Cloud Light, we are making a strategic investment to significantly expand our opportunities in the cloud data center and networking infrastructure space,” said Lumentum President and CEO Alan Lowe. “Cloud Light provides us with the highest speed transceiver solutions at scale and complements our advanced component capabilities.” Lumentum added that nearly all of…

© Reuters. FILE PHOTO: Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court in New York, U.S., August 11, 2023. REUTERS/Eduardo Munoz/File Photo By Luc Cohen and Jody Godoy NEW YORK (Reuters) – FTX founder Sam Bankman-Fried is set to retake the witness stand on Monday in his trial on fraud charges tied to the collapse of the cryptocurrency exchange, with prosecutors poised to challenge his assertion that he did not steal billions of dollars in customer funds. Bankman-Fried first is due to answer around two more hours worth of friendlier questions from his defense lawyer, Mark…

Stock markets struggled overnight. Mainland China bourses found buyers, but JPN225 and ASX declined, as markets watched developments in the Middle East. Risk sentiment improved during the start of the week as Israel seemed to be moving with more caution than anticipated, which helped to dampen concern about a widening of the conflict. Stock futures are higher across Europe and the US and the 10-year treasury yield has lifted 2.6 bp to 4.86%, with oil and gold also declining as haven flows ease. Treasuries were boosted also after the slowing in the PCE deflators underpinned…