Author: FX
ANZ World Commodity Price Index recorded its first lift in three months in September +1.3% m/mIn local currency terms, +2.0% m/m with the NZD depreciating 0.1% against its Trade Weighted Index—As part of their monthly report ANZ include commentary on Global shipping prices: were mixed during September. The Baltic Dry Index, which tends to be the most volatile of the shipping indices, lifted a massive 57%, following the sharp lift in oil prices. Meanwhile, the China Containerised Index fell 5% and the Harper Peterson Global Index fell 9%. If oil prices remain strong then this will put upward pressure on…
shaunl/E+ via Getty Images The Biden administration’s new offshore drilling plan likely will push new investments out of the U.S. and into other parts of the world, the head of the world’s biggest offshore oil rig contractor by market value told Bloomberg on Wednesday. “If we need the barrels, the’re going to get drilled, [and] if it’s not going to be here, it’s going to be somewhere else,” Noble Corp. (NYSE:NE) CEO Robert Eifler said in an interview, adding Brazil and West Africa would leading the world in growth as activity in the U.S. Gulf of Mexico stays flat. The…
Share: EUR/USD holds ground around 1.0505 amid the weaker USD. US private payrolls for September came in worse than expected. Eurozone Retail Sales came in at -2.1% YoY in August vs.-1% prior. Traders will monitor German trade data and US weekly Jobless Claims on Thursday. The EUR/USD pair recovers some lost ground above the 1.0500 area during the early Asian session on Thursday. The rebound of the pair is supported by the weaker US Dollar (USD) broadly and the softer labor market data. The major pair currently trades near 1.0505, up 0.03% for the day.Meanwhile, the US Dollar…
Expect more volatility with the U.S. Dollar? Well, GBP/USD may be the pair for you as prices consolidate around a strong mix of technical arguments! Are you watching for a break on Cable? GBP/USD: 1-Hour GBP/USD 1-Hour Forex Chart by TradingView Check out this textbook setup on GBP/USD! The pair has been in bear mode for quite some time (basically through all of September), a reflection of the divergent monetary policy narratives from both the Bank of England (signaled policy was restrictive enough at the beginning of September) and the Federal Reserve (sees a possibility of one more rate hike…
PIMCO Senior Loan Active Exchange-Traded Fund declares monthly distribution of $0.3300 Source link
USD/JPY FORECAST:USD/JPY stabilizes after Tuesday’s pullback triggered by possible FX intervention by the Japanese government.The pair maintains a constructive outlook in the near term.This article looks at USD/JPY’s pivotal technical levels worth watching this week. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Gold Price Forecast – Will US Job Data Serve to Deepen XAU/USD’s Bearish Trend?USD/JPY has displayed a strong bullish trend throughout 2023, surging by over 14% since January. This upward momentum has been driven by the sharp rise in U.S. Treasury…
The monthly U.S. employment update is here and with markets starting to see inflation and growth slowing, will this be the big catalyst to push traders all-in on the peak rate hike cycle narrative? This could be a big event so check out what market analysts expecting and how we think USD may react. Here’s what to know before creating your risk management plan for the U.S. employment report for September. Event in Focus: U.S. Monthly Employment Situation Summary from the U.S. government for September 2023 When Will it Be Released: October 6, Friday: 12:30 pm GMT Use our Forex Market…
© Reuters. Manitoba New Democratic Party Leader Wab Kinew campaigns in Winnipeg, Manitoba, Canada September 4, 2023. Manitoba NDP/Handout via REUTERS/ File Photo By Rod Nickel WINNIPEG, Manitoba (Reuters) – Wab Kinew will soon be the only First Nations premier in Manitoba history after voters in the Canadian province elected a New Democratic Party government on Tuesday. Kinew’s NDP won 34 seats out of Manitoba’s 57 electoral districts, enough to form a majority government, according to unofficial results. The Progressive Conservatives (PCs) garnered 22 seats and the Liberals won just one. The left-wing NDP will replace the Conservatives, who had…
The Nasdaq is higher today, and trading near new highs. In the process, the index is extending above a cluster of resistance.The price is back above the 38.2% of the move up from the March 13 low at 13123The price is back above the 50 hour MA at 13166The price is back above a swing area between 13123 and 13161. That cluster of resistance is now support in the short term. Staying above and traders will look toward the 100-hour MA (blue line in the chart below) at 13372 as the next major target. That MA corresponds roughly with swing…
Share: During September, the Euro has weakened broadly. Economists at Nordea analyze EUR/USD outlook. Downward momentum in EUR/USD unlikely to last From a technical perspective, a 14-day Relative Strength Index (RSI) below 30 points to a USD that is overbought against the EUR, which means that further downside should be limited. While the USD could continue to do well in the very short term, we still are inclined to think that the USD fortunes will reverse next year as it is unlikely that the US economic outperformance will last. EUR/USD – 3M 1.07 Mid-2024 1.10 End-2024 1.12 Mid-2025…