Author: FX
Written by Axel Rudolph, Senior Market Analyst at IG Recommended by IG Get Your Free Equities Forecast Nikkei 225 stabilizes as September draws to an endThe Nikkei 225 stabilizes into month-end despite Japan consumer morale falling to a six-month low as better-than-expected preliminary industrial production and a positive close on Wall Street aided Asian stock markets to stem their September falls.The Nikkei 225 thus managed to stay above its Thursday low at 31,665.4 which was made close to the 25 August low at 31,563.2. Were this level to give way in October, the August low at 31,251.2 would be in…
Stock as well as bond market are moving higher at the end of the quarter. GER30 and UK100 are up 0.7% and 0.8% respectively, after the Hang Seng bounced 2.7%. US futures are also posting gains, and yields are coming down. The German 10-year rate has corrected -5.1 bp, the 10-year Gilt yield is down -3.9 bp and the US 10-year rate has dropped -2.4 bp. USDIndex reverted to 105.54 from 106.50 giving the Yen some breathing room amid intervention concerns. The USDJPY slide to 148.50 has put investors on high alert for the risk…
US:·The Fed left interest rates unchanged as expected.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 as they are trying to find the optimal level of rates. Powell also added that the soft landing is not the base case at the moment, although they are aiming for it.The latest US CPI came in line…
POUND STERLING ANALYSIS & TALKING POINTSUK GDP changes grim UK economic outlook.US PCE price index in focus later today.GBP/USD pulls out of oversold territory (RSI). Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPThe British pound found some respite this Friday morning from both the US dollar and the local UK GDP release (see economic calendar below). UK GDP beat estimates on the headline YoY print as well as the business investment metric. An overall positive report that was driven by the production sector from an output point of view as well as an uptick in household…
Share: Further advance in USD/JPY remains in the pipeline while above the 148.50 level, suggest UOB Group’s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia. Key Quotes 24-hour view: We indicated yesterday that “the bias for USD remains on the upside, but 150.00 is likely out of reach.” We also indicated that “the upside bias will fade if USD breaks below 149.05”. USD did not rise further but traded sideways between 149.13 and 149.66. Further sideways trading appears likely, probably between 149.05 and 149.70. Next 1-3 weeks: Our update from yesterday (28 Sep, spot at 149.45) is…
AUD/USD just bounced from a key area of interest and is heading fast for another area of interest! Will the pair maintain its consolidation today? Or will AUD bulls succeed in forcing a bullish reversal? AUD/USD: 4-Hour Forex Chart by TradingView As you can see, AUD/USD has been trading inside an observable range since August when the pair made .6520 a support-turned-resistance and also bounced from the .6360 area. The .6360 support area, in particular, was reinforced earlier this week when AUD/USD bounced at the level for a THIRD time in a few weeks. Will AUD/USD stay inside its range?…
Lamb Weston declares $0.28 dividend Source link
© Reuters. FILE PHOTO: A migrant carries a child as they along with others continue their journey to the U.S. border, in Acandi, Colombia July 9, 2023. REUTERS/Adri Salido By Elida Moreno PANAMA CITY (Reuters) – The number of people crossing the perilous Darien Gap linking Panama and Colombia has hit a record high of 400,000 in the year to September, official data showed, as migration to the United States intensified despite efforts to curb the flow. More than half of those migrants were children and babies, Panama’s security ministry said in a statement, adding that September alone saw the…
0740 GMT, 0340 US Eastern time: Opening remarks by European Central Bank President Christine Lagarde at the joint IEA-ECB-EIB conference on “Ensuring an orderly energy transition: Europe’s competitiveness and financial stability in a period of global energy transformation” in Paris, France.We heard from Lagarde earlier this week:More of the same coming today? Source link
Market Recap Recommended by Jun Rong Yeap How to Trade FX with Your Stock Trading Strategy A slight breather in the Treasury yields rally allowed Wall Street to turn in a positive session overnight, while VIX retraced for the second straight day after nearing its key psychological 20 level, which are generally looked upon as the divide between stable or more stressful periods. The rate-sensitive Nasdaq 100 index found room for greater relief (+0.8%) and if it manages to close at or above the current level today, that could help form a weekly bullish pin bar to kickstart next week.Overnight,…