Author: FX

AUD/USD TECHNICAL OUTLOOKAUD/USD rises for the fourth straight day, pressing against trendline resistance.Despite its recent recovery, the Aussie maintains a bearish profile.This article looks at AUD/USD’s key technical levels worth watching in the coming trading sessions. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Oil Price Forecast – Geopolitical Turmoil to Spur Bullish Energy Market SentimentMarket sentiment has improved in recent days, allowing AUD/USD to make a moderate turnaround from the middle of last week, when it briefly hit its lowest level since November…

By Nidal al-Mughrabi GAZA (Reuters) – Gazan rescuers on Tuesday pulled the body of a four-year-old girl and other dead from the rubble of a municipal building where she and many others were sheltering, and which was damaged during an Israeli air strike. The girl was named as Shahid Abu Rokbah, and rescuers said her family fled from east of the Khan Younis district to inside the city in search of safety, only to be killed. “They tried to escape death only to find it… They came to find shelter. They were taking refuge next to the stairs where it…

Synopsis: Goldman Sachs adopts a cautious stance on the USD, indicating that the market seems to be in a ‘wait-and-see’ phase following a significant reassessment. Strong US growth and employment data currently prevent the Dollar from weakening, and looking forward, a “higher-for-longer” economic environment would likely bolster the Dollar.Current Market Sentiment: The market appears to have moved into a phase of reflection and anticipation. This sentiment is attributed to the considerable reassessment that has recently taken place. The policy anchor, which offers stability and guidance, further reinforces this perspective.Dollar’s Stance: The strength of US economic data, particularly concerning growth and…

Gold volatility has settled into a tight range as traders potentially set up for big moves ahead. What could get gold traders hopping and where could we potentially see gold trade next? XAU/USD (Gold): 15-min XAU/USD 15-min Chart by TradingView Due to the tragic events in Israel, gold was a sought after safe haven to start the week, sending XAU/USD $20 higher at the week open. But since then, it’s been mostly sideways action, possibly on several major market centers being closed on Monday, and possibly on the scenario that traders are refraining from making moves ahead top tier catalysts.…

Share: US Dollar continues consolidating early October gains. Inflation in the United States is expected to have decelerated in September. Christopher Waller and Neel Kashkari will be on the wires. The US Dollar (USD) measured by the US Dollar DXY Index trades with losses despite US Treasury yields recovering and a cautious market mood amid the Middle East geopolitical conflict between Israel and the Hamas terrorist group. Investor’s focus is set on Wednesday’s Federal Open Market Committee (FOMC) from the September meeting and the Consumer Price Index (CPI) from the same month. In the meantime, the United States…

Gold (XAU/USD) AnalysisGold’s recent lift stalls as markets determine next stepsGold volatility rises on conflict – largest move since the regional banking turmoil$1875 is the next significant level of resistance on the weekly and daily chartsThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryGold’s Recent Lift Stalls as Markets Determine Next StepsIn times of conflict and war, gold tends to witness a spike in value as investors shift away from riskier assets like stocks towards traditional safe haven assets that are more likely to preserve…

BackyardProduction/iStock Editorial via Getty Images Northern Trust (NASDAQ:NTRS) stock gained 2% in Tuesday morning trading after Bank of America analyst Ebrahim Poonawala reinstated coverage on the bank with a Buy rating. The sell-side analyst argued that the stock’s valuation, at 11 times 2024 price-to-earnings estimate vs. 16x five-year pre-pandemic median, does not reflect the company’s franchise quality. “While we acknowledge the downside risks to EPS/ROE due to deposit costs and equity/bond market volatility, we see these as reflected in the valuation and consider NTRS well positioned to navigate the cycle,” Poonawala wrote in a note. Year-to-date, NTRS retreated 25.2%, compared…

What’s up trading fiends! EUR/CHF broke lower right at the week open, and after a swift move down and up, the gap is being retested, along with a ton of technical arguments. Is this a strong area of interest to potentially draw in more sellers into the fresh downtrend? EUR/CHF: 1-Hour EUR/CHF 1-Hour Forex Chart by TradingView It’s not too often that we get gaps in the forex market, so it’s attention worthy when one pops up on the radar! That’s exactly why we’re checking out EUR/CHF, especially now that prices are back after a quick drop lower. On the…

© Reuters. FILE PHOTO: A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/File Photo By Chris Taylor When you think of those most likely to get scammed online, what kind of person comes to mind? You might automatically think of Baby Boomers, many of whom are above 60 and are typically not as tech-savvy as younger generations. But that stereotype is wrong. Members of Generation Z are more than three times as likely as Boomers to have fallen for an online scam in the past…

Last Friday, the Nasdaq Composite rallied following the big beat in the NFP report as the market continues to bet on the soft-landing scenario. Yesterday, the index opened lower following the outbreak of the war in Israel but bounced back soon after and closed higher as the events in the Middle East are unlikely to weigh on global markets as long as the conflict remains confined to the Levant. Nasdaq Composite Technical Analysis – Daily TimeframeNasdaq Composite DailyOn the daily chart, we can see that the Nasdaq Composite continues to charge higher after bouncing on the support zone around the…