Author: FX
Euro (EUR/USD, EUR/GBP) AnalysisMinutes Suggest the ECB is Content with Rates, Focused on the EconomyECB minutes revealed it was a close call to raise interest rates for the tenth and possibly last time, the last time the Governing Council met. The majority of officials anticipate that record high interest rates (4%) will play a huge role in forcing inflation back to the 2% target.Now the focus turns to the European economy which has had to endure the effects of elevated prices during a global growth slowdown that has heavily impacted its major trading partner, China. The German manufacturing sector has…
Share: NIO stock has stalled out near $9, right at the 21-day simple moving average. September US CPI report showed a slight pickup in headline inflation. Nio stock is having difficulty recovering from a 17% plunge following its decision to raise $1.5 billion from convertible bonds. Equity futures including the NASDAQ 100 advanced 0.4% prior to the CPI release but lost half their gains after inflation arrived above consensus. US Treasury yields rose on the back of higher headline inflation, with the 2-year gaining more than 1%. Nio (NIO) stock trades 2.5% lower at the beginning of Thursday’s regular…
Yields and the USDIndex popped higher after the hotter than projected 0.4% rise in headline CPI. Still low initial jobless claims added to the moves. The front end of the Treasury curve is underperforming on the more hawkish implications for the FOMC. The report has fostered some profit taking on the recent Treasury rally. The USDIndex firmed to retest 106.099, but has slipped back to 105.930. Wall Street futures pared earlier gains though the major indexes are still fractionally in the green. In spite of the hotter headline CPI, we don’t believe the composition of…
Taoping contract revenue value jumps nearly 100% in first nine months of 2023 Source link
US CPI KEY POINTS:MOST READ: USD/CAD Looks Set to Arrest 4-Day Slump, Finding Support at the 20-Day MAElevate your trading skills and gain a competitive edge. Get your hands on the U.S. dollar Q4 outlook today for exclusive insights into key market catalysts that should be on every trader’s radar. Recommended by Zain Vawda Get Your Free USD Forecast US headline inflation YoY in September held steady at 3.7% in line with estimates while Core CPI YoY hit a 24-month low and dropped from the 4.3% print recorded last month. The Core inflation print is the lowest since September 2021.…
© Reuters. Cybercriminals are impersonating Labs, the company behind the cryptocurrency XRP, in an attempt to defraud its community members, according to a post on X Thursday. The fraudulent scheme involves sending malicious emails from an unrelated address, as unearthed by crypto investigator @_XRP_QUEEN. Recipients of these emails are falsely informed that Ripple has launched a 300M RippleNet Accelerator Program. They are then prompted to sign into a non-existent “XRP Toolkit account” and claim XRP via an embedded button in the email. This ploy could potentially allow attackers to gain control over the victims’ cryptocurrency wallets. It’s crucial to note…
Oil prices as well as gold benefited from a spike in risk aversion prompted by the escalating conflict in the Middle East. Gas prices also spiked as investors weigh the risk of widening geopolitical tensions. Oil prices have found a footing, after dropping more than 2% yesterday. Saudi Arabia and Russia showed they were working together to support the oil market, with officials from both countries appearing on Russian TV to say that they are committed to keeping markets stable by taking action in advance. Markets continue to keep an eye on developments in the Middle. USOIL had fallen nearly…
Bitcoin (BTC) Prices, Charts, and Analysis:Have global interest rates peaked?Bitcoin is unable to break the 200-day simple moving average.Download our Q4 Bitcoin Forecast for Free Recommended by Nick Cawley Get Your Free Bitcoin Forecast Bitcoin is trapped in a wide $25k – $32k range and is finding it difficult to make a concerted attempt at either support or resistance. The backdrop for the cryptocurrency market should be mildly positive with a raft of spot BTC and ETH ETFs expected shortly, while global interest rates are seen at, or very close to, their peaks. The latest raft of Fed speak has…
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024.Fed Chair Powell reaffirmed their data dependency but added that they will proceed carefully. The latest US Core PCE came in line with expectations with disinflation continuing steady.The labour market remains fairly solid as seen last week with another strong beat in Jobless Claims and the NFP report.The…
Share: European Central Bank (ECB) Governing Council member and Bank of France President, Francois Villeroy de Galhau, said on Thursday that “Monetary patience is more important than activism at present.” Additional takeaways Duration more important than level. If we can ensure a soft-landing it’s a much better route. Market reaction The ECB commentary fails to have any impact the Euro, as EUR/USD keeps its range at around 1.0620 so far this Tuesday. Source link