Author: FX
It’s still a hard one to read as to whether or not the 90-pip drop in USD/JPY earlier had to do with Tokyo intervention. The size and speed of the fall is suggestive but then why all of a sudden at 150.70 and not at a level just above 150.00 again like before? There are certainly some question marks about that. But since then, the pair has stabilised somewhat although traders are weary about pushing it too far above the figure level now:USD/JPY 1-minute chartThere is the possibility that the drop was also triggered by the algos, with there being…
Stocks and bonds were routed midweek. Tech shares were slammed after poor earnings news from Alphabet knocked its shares down nearly -10%, spreading gloom across the sector. A surge in Treasury yields added to the selloff. Meanwhile, ongoing signs of the strength in the economy after a pop in new home sales did not help. Instead, it added to expectations that a big jump in GDP on Thursday will keep a Fed rate hike in the picture later in the year or early 2024. That and fears over other big headwinds ahead added to a negative…
CHF/JPY made lower highs and lower lows but is also seeing buying pressure near an inflection point. As you can see, CHF/JPY has been in an uptrend since the stat of the month. The pair hit a resistance at 168.40, though, and now it’s trading closer to the 167.50 level. Has CHF/JPY traded low enough to bring the bulls back? CHF/JPY 1-hour Forex Chart by TradingView In a few hours, the European Central Bank (ECB) is expected to hold its interest rates steady after ten consecutive meetings of rate hike decisions. The ECB isn’t expected to shed its hawkish biases,…
Share: Since the surprise interest rate hike on August 24, which gave the Lira a tidy 6% boost, the Turkish currency has been depreciating as if on a string. Economists at Commerzbank analyze TRY outlook ahead of the Turkish Central Bank (CBT) Interest Rate Decision. CBT’s restrictive monetary policy is only a necessary condition for a Lira recovery If the CBT disappoints today, the Lira is likely to suffer. Because then all the analysts (including me!) will be speculating whether President Recep Tayyip Erdoğan had his fingers in the pie again. But if the CBT raises rates as…
FNCB Bancorp declares $0.09 dividend Source link
© Reuters. FILE PHOTO: The Stellantis logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David ‘Dee’ Delgado/File Photo HANGZHOU, China (Reuters) – Stellantis (NYSE:) is buying a 21% stake in Leapmotor (HK:) for $1.6 billion, it said on Thursday, in a reset of its China strategy to focus on electric vehicles after years of poor sales and manufacturing pullback in the world’s biggest auto market. The Chinese EV maker also announced the formation of a joint venture with Stellantis, in which the Chrysler parent will own a 51% stake…
The US dollar had a good Wednesday in the US time zone and that’s carried on through Asia. It’s a broad surge, up against EUR, GBP, AUD, NZD, CAd and, naturally, the hapless yen. About the only fight is coming from crypto, Bitcoin is circa $34.7K. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Share: Short term Elliott Wave View in S&P 500 (SPX) suggests that cycle from 7.28.2023 high is in progress as a diagonal structure. Down from 7.28.2023 high, wave 1 ended at 4344.75 and rally in wave 2 ended at 4532.26. Index resumes lower in wave 3 towards 4216.45 as the 45 minutes chart below shows. Wave 4 ended at 4393.04 with internal subdivision as a zigzag structure. Up from wave 3, wave ((a)) ended at 4385.85 and pullback in wave ((b)) ended at 4311.97. The Index then extended higher in wave ((c)) towards 4393.04 which completed wave 4.…
Ford, UAW agree in principle to end strike – report Source link
© Reuters. Investing.com – US stock futures were trading lower during Wednesday’s evening deals, as major US indices continued to sell off throughout the regular session amid a slew of corporate earnings results. By 6:30 pm ET (10:30 pm GMT) lost 0.1%, dipped 0.4% and fell 0.8%. Stay ahead of the curve this earnings season with InvestingPro! In extended deals, Meta Platforms (NASDAQ:) lost 2.8% after the company Q3 EPS of $4.39 versus $3.64 expected. Revenues were reported at $34.15 billion versus $33.57 billion expected. Meta Platforms also forecasted Q4 2023 revenue in the range of $36.5-40 billion versus $36.64…