Author: FX
Welcome to a brand spankin’ new trading month, forex playas! Today we’re looking at EUR/USD possibly taking a short break from its downtrend. Are you seeing what we’re seeing on the 1-hour time frame? EUR/USD 1-Hour Forex Charts by TV If you’ve seen our EUR/USD setup last week, then you’ll know that EUR bears have been on a roll with dragging the common currency lower against the U.S. dollar. But EUR/USD is now sporting a possible Reverse Head and Shoulders pattern after it found support from the 1.0500 psychological handle and forming “shoulders” near the 1.0570 Pivot Point line. And…
The BoE unexpectedly left Bank Rate unchanged at last week’s meeting. The decision followed a surprise drop in headline inflation, which coupled with weaker than expected growth suggested that policy settings are now sufficiently restrictive to bring inflation down lastingly. Markets have trimmed expectations for peak rates in the U.K. substantially, and we see a good chance that the BoE will not hike again. The central bank is fighting waning confidence in its policy decisions and will likely err on the side of caution as growth slows, though rising oil prices could still throw a spanner in the works. U.K. headline…
Just a few hours before the Saturday midnight deadline, Democrats and Republicans passed a short term bill (45 days) to keep the government funded into November and avoid a shutdown which would have put the paychecks of some 3 million Americans in the public sector and the military at risk. This is certainly not an optimal and confidence-inducing solution in the long term: however, the markets are increasingly accustomed to such events, which have occurred over 20 times in the last 50 years, including 4 in the last decade. It may be this, it may be the start of the…
© Reuters. Logo of the Bain Capital is screened at a news conference in Tokyo, Japan September 28, 2017. REUTERS/Kim Kyung-Hoon/File Photo HANOI (Reuters) -U.S. private equity firm Bain Capital has made its first investment in Vietnam, with at least $200 million in the Masan Group conglomerate, and could bring in other investors to raise that to $500 million, the firms said on Monday. The deal is set to boost competition in Vietnam’s retail market, as rapid urbanisation draws domestic and foreign investors looking to expand or gain a foothold in the country of 100 million. Proceeds will go to…
The timings for these are in GMT/US Eastern time:1500/11:00 Federal Reserve Chair Jerome Powell participates in roundtable with workers, small business owners, local employers and community leaders to discuss efforts to redevelop and grow the local economy1500/11:00 Federal Reserve Bank of Philadelphia President Patrick Harker participates in roundtable with workers, small business owners, local employers and community leaders to discuss efforts to redevelop and grow the local economy1730/13:30 Federal Reserve Bank of New York President John Williams moderates a discussion before the 2023 Environmental Economics and Policy Conference: “Measuring and Adapting to Climate Risk”, hosted by the Federal Reserve Bank…
bodnarchuk/iStock via Getty Images Eldorado Gold (NYSE:EGO) said Sunday it expects Q3 gold production of slightly more than 120K oz and YTD preliminary gold production of nearly 341K oz, remaining on track to achieve consolidated full-year guidance of 475K-515K oz, with operations delivering as expected. Eldorado (EGO) said Q3 output increased slightly at the Lamaque mine in Canada, with slower than expected development in the underground due caused by suspended shifts in Q2 due to nearby wildfires. Higher Q3 gold production at Kisladag in Turkey was driven by the commissioning of the agglomeration drum that was added to the crushing…
Share: USD/MXN remains depressed for the third successive day on Monday. The mixed technical setup warrants some caution for bearish traders. Any further decline towards the 17.2500 support could get bought into. The USD/MXN pair attracts some sellers near the 17.4420 area during the Asian session and trades with a mild negative bias for the third successive day on Monday. Spot prices, however, manage to hold above a multi-day touched on Friday and currently hover around the 17.4000 level, down just over 0.10% for the day. From a technical perspective, last week’s failure near the 17.8175 confluence –…
The softening in US August core PCE inflation (3.9% YoY vs previous 4.3%, 0.1% MoM vs previous 0.2%) failed to drive a sustained rebound in Wall Street last Friday, as Treasury yields stayed firm despite some paring in rate hike bets. While further progress on the core inflation front may offer room for the Federal Reserve (Fed) to hold off on its last rate hike, still-resilient personal income and spending (both 0.4% MoM), along with higher-than-expected final consumer inflation expectations, could have reinforced the narrative for high-for-longer rates.Into the new week, a temporary resolution in the US government shutdown situation…
Less than a month after Apple’s Wonderlust event, another tech behemoth – Google.Inc – shall host its Made by Google 2023 event on 4th October (Wednesday), at 2pm (GMT). The event shall be broadcast live on the Google Store website and its official channel. In this event, participants are expected to witness some new Pixel hardware, including Google Pixel 8 and Google Pixel 8 Pro. Similarities between these two smartphones include Tensor G3 chipset performance, 120Hz refresh rate and usage of Android 14 software. Their differences are in display sizes (6.17 inches vs 6.7 inches), ultrawide camera sensor (12MP vs…
Julia Rendleman The Cigna Group (NYSE:CI) has agreed to pay $172M to settle allegations that it submitted inaccurate and misleading diagnosis information about its Medicare Advantage patients in order to increase its payments from Medicare. The settlement also requires Cigna to enter into a five-year corporate integrity agreement with the Office of the Inspector General of the US Department of Health and Human Services, the agency that oversees the Medicare program. Cigna had been accused by the federal government of violating the False Claims Act by submitting and failing to withdraw “inaccurate and untruthful diagnosis codes” for its Medicare Advantage…