Author: FX
Currency performance was pretty mixed this week, likely the result of traders balancing U.S. dollar dominance & individual currency narratives. But after a big Dollar pullback on Thursday that it couldn’t fully recover from, the Kiwi dollar was able to snatch the top spot away from the Greenback at the Friday close. Meanwhile, the Swiss franc fell to last place, likely still having bearish vibes after last week’s interest rate hold from the Swiss National Bank. Missed the major forex headlines? Here’s what you need to know from this past week’s FX action: USD Pairs Overlay of USD vs. Major…
Share: EUR/USD trades at 1.0572, registering marginal gains of 0.06%, as softer German inflation data and US government shutdown fears impact prices. US Core PCE data reveals a 3.9% YoY increase, below the expected 4%, diminishing chances for a November rate hike by the US Federal Reserve. A daily close below the 1.0600 mark for EUR/USD could see the pair extending its losses towards the November 30, 2022, swing low at 1.0290. The EUR/USD clings to its early gains after traveling towards a daily high of 1.0617 but offers dragged prices below the 1.0600 mark. This happened despite…
The major indices are closing mixed today with the Dow Industrial Average average fearing the worst. The NASDAQ index eked out a small gain for the day. The S&P was lower.A snapshot of the closing levels shows:Dow industrial average fell -157.50 points or -0.47% at 33508.86S&P index -11.46 points or -0.27% at 4288.23NASDAQ index rose 18.04 points or 0.14% at 13219.31For the month of September, all three major indices closed lower. The broader S&P and NASDAQ indices had the worst trading month in 2023 (and worst month since December 2023). Looking at the month declines:Dow industrial average fell -3.50%S&P index…
gorodenkoff/iStock via Getty Images Update 3:55pm on Sept. 29: Adds shares, updates with new details. Private equity firm Bain is evaluating a potential takeover of car insurance software vendor CCC Intelligent Solutions (NASDAQ:CCCS). CCC rose 7.6% on Friday. Bain is one of several suitors that have expressed interest in the CCC Intelligent (CCCS), which is backed by PE firm Advent International, according to a Bloomberg report on Thursday, which cited familiar people familiar with the matter. TPG (TPG) is also evaluating a deal for CCC and potentially may team up with Bain for an offer, according to an update of…
Share: The selloff in WTI Crude Oil continues, US barrel prices fall $2 on Friday. Crude oil is setting on the low side to cap off Friday’s trading after a scorching run in the early half of the week. Oil’s bid may have been overextended as US production ramps up. The West Texas Intermediary (WTI) crude oil charts are deflating after reaching a near-term peak near $94/bbl, but profit-taking and investors waking up from crude oil delirium. Friday’s Oil prices fell nearly 3% to an intraday low of $89.50. Despite Friday’s pressure release, crude prices still remain well-elevated. WTI…
In this video, I take a look at the NZDUSD and outlines the key technical levels in play heading into the new trading week starting October 2, 2023. This article was written by Greg Michalowski at www.forexlive.com. Source link
The USDJPY had a volatile down and up trading day with the full 100 pip move to the downside in the first half of the day, nearly fully retracted in the 2nd half of the day. The low price today moved to the 200-hour moving average and the picture set midpoint of the move up from last week’s low at 148.507. Support buyers leaned against that level, and pushed the price higher. After trading above and below the 100-hour moving average for a few hours, traders based against the level, and pushed higher. That move to the upside stall just…
5/5 © Reuters. A woman walks along a flooded street, as the remnants of Tropical Storm Ophelia bring flooding across mid-Atlantic and Northeast, in the Brooklyn borough of New York City, U.S., September 29, 2023. REUTERS/Brendan McDermid 2/5 By Jonathan Allen and Brendan O’Brien NEW YORK (Reuters) -A sustained round of torrential downpours after a week of mostly steady rainfall triggered flash flooding in New York on Friday, disrupting subway service in the most populous U.S. city, inundating basements and turning some streets into small lakes. A flash flood warning was in effect for New York until 2:30 p.m. EDT,…
The U.S. dollar and surging bond yields stole the show this week, staying in positive territory throughout, supported by hawkish central bank rhetoric. Unfortunately this was the worst environment for gold bulls. Not caught up on the major headlines? Check’em out before moving on to the full review! Notable News & Economic Updates: ? Broad Market Risk-on Arguments U.S. weekly initial jobless claims: 204K (205K forecast; 202K previous) ANZ: New Zealand’s business confidence index turned positive, up from -3.7 to 1.5 in September; Jury remains out on whether prices are falling “fast enough to bring core inflation pressures down in…
Share: XAG/USD fell $1.28 during the US trading session, backsliding into $22.30. Bulls failed to establish a floor in XAG/USD prices and Silver slumped to a new weekly low. Broad-market reversal in risk appetite sending Silver into the floorboards. Silver prices have tumbled from a late-week peak for Friday’s trading, skidding into $22.30 after falling over 5.5% over the course of the US trading session. The XAG/USD is back into familiar lows that Silver has cycled into for most of the year, driven by a resurgence in US Dollar (USD) bidding as global markets routinely pivot on fears…