Author: FX

Bloomberg reports that the US and Europe are pressing Israel to delay an invasion of Gaza because they hope to win hostage releases and proceed with negotiations.This news has led to selling in oil and a boost in risk assets.Here is the report.”US and European governments have been putting pressure on Israel to delay its ground invasion of Gaza to buy time for secret talks underway via Qatar to win the release of hostages held by Hamas, according to people familiar with the efforts,” it says.There are reports of more than 200 hostages in Gaza and the report says there…

Share: Federal Reserve Bank of Cleveland President Loretta Mester said on Friday that the US central bank is “at or near the peak of the rate hike cycle,” per Reuters. Key quotes “Outlook aligns with Fed forecasts eyeing one more increase.” “Fed rate decisions will be driven by incoming economic data.” “If sustained, higher bond yields will help moderate economic activity.” “Fed needs to be nimble with monetary policy right now.” “Inflation cooling but still too high, risks tilted to upside.” “Labor markets showing moderation, resilience.” “Data shows signs of moderating wage gains.” “Fed must not be complacent on…

Share: The US Dollar struggles to find demand at the end of the week. Markets are digesting Powell’s words on Thursday. US Treasury yields are retreating and the odds of a hike in December declined. The US Dollar (USD) measured by the US Dollar Index (DXY) oscillates between gains and losses in the 106.15 area, trading below the 20-day Simple Moving Average (SMA). No relevant data will be released on Friday and the focus shifts to the Israel and Palestine conflict which could benefit the USD as a safe-haven asset. In the United States, economic activity was reported…

Share: Mexican Peso exchange rate with the US Dollar remains on the defensive, printing more than 1% weekly losses. August Retail Sales in Mexico show a mixed picture, with gains over the year but a monthly plunge and signs of deceleration. Geopolitical risks cap Peso’s gains, including tensions in the Middle East and US military base attacks. Mexican Peso (MXN) registers solid gains against the US Dollar (USD) at the end of the week, though it remains printing weekly losses of more than 1%, as risk-aversion took its toll against risk-perceived currencies in the Forex markets. On Friday,…

Share: The Norges Bank was a leader in terms of policy tightening, beginning back in September 2021. Economists at CIBC Capital Bank see rates peaking at the end of the year. One last hike for the Norges Bank? Having hiked rates on 13 occasions, the Norges Bank remains biased towards an additional 25 bps prior to year-end. Absent a material and unexpected retreat in the data, we would look for rates to reach a terminal at 4.50%, by year-end. The combination of additional tightening, energy price resilience, supporting an already exaggerated current account surplus, allied to ongoing labour…

USD/CAD PRICE, CHARTS AND ANALYSIS:USDCAD is Intriguing at Present as the Loonie and USD Cancel Each Other Out Facilitating a Period of ConsolidationCanadian Retail Sales Despite an Upward Revision to Last Months Print.The Drop in Canadian Inflation Data and Stagnating Retail Sales Point to a Hold from the BoC Next Week.To Learn More About Price Action,Chart PatternsandMoving Averages, Check out theDailyFX Education Series.Read More: The Bank of Canada: A Trader’s GuideUSDCAD price action continues to frustrate and confuse market participants as the usually trending pair has remained relatively rangebound for the past two weeks. The pair has struggled to break…

grandriver/E+ via Getty Images SLB (NYSE:SLB) -1.9% pre-market Friday after reporting mixed Q3 results, topping consensus earnings estimates by a penny while total revenues came in roughly as expected. Q3 net income rose to $1.12B, or $0.78/share, from $907M, or $0.63/share, in the year-earlier quarter, driven by sustained growth in the international markets, where the company posted its ninth consecutive quarter of double-digit Y/Y growth. Q3 total revenues rose 11% Y/Y and 3& Q/Q to $8.31B, as International revenue jumped 12% Y/Y and 5% Q/Q to $6.61B, and North America revenue rose 6% Y/Y but fell 6% Q/Q to $1.64B,…

Bitcoin (BTC) Prices, Charts, and Analysis:Bitcoin has rallied 10% this week (low-to-high) on ETF hopes.The 200-day simple moving average has turned from resistance to support. Recommended by Nick Cawley Get Your Free Introduction To Cryptocurrency Trading The growing belief that a spot Bitcoin ETF is a matter of when not if, is pushing the largest cryptocurrency by market capitalization ever higher this week. On Monday a false rumor that the BlackRock ETF had been permissioned by the SEC sent BTC spiraling higher before the rumor was quickly proven to be false. The market sell-off however was limited and today Bitcoin…

Keeping a detailed forex trading journal still not enough for you? If you’re looking to take your journaling a notch higher, you might want to consider getting a tape recorder to keep track of how you talk to yourself while trading. Sounds pretty crazy, huh? You might not be aware of it all the time but forex traders like you and I have this tendency to talk to ourselves during the actual trading process. We often have dialogues with ourselves when hunting for trade setups, deciding whether to take a trade or not, cursing the markets when price doesn’t go our…

© Reuters. FILE PHOTO: The logo of Dow Jones Industrial Average stock market index listed company American Express (AXP) is seen in Los Angeles, California, United States, April 25, 2016. REUTERS/Lucy Nicholson/File Photo (Reuters) -Credit card giant American Express (NYSE:) on Friday reported third-quarter profit that beat expectations, helped by resilient spending from its wealthy customers who shrugged off concerns about an economic downturn. AmEx, which caters to a premium customer base, has largely been able to mitigate the hit from inflation and the Federal Reserve’s rate hikes, which have made borrowing costly and reined in discretionary spending. In a…