Author: FX
After September PMI data showed a stall in overall activity for the second consecutive month, the USDIndex lost some of its gains after reaching 105.43 in Friday’s trading [22/09]. The USDIndex gained +0.19% on carryover support from Wednesday, when the FOMC signalled one more +25 bp rate hike this year and projected that next year’s rate will be +50 bp higher than June’s rate. US Manufacturing PMI rose from 47.9 to 48.9 in September. Services PMI fell from 50.5 to 50.2, the lowest in 8 months. The Composite PMI fell from 50.2 to 50.1, the lowest in 7 months. Due…
Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter EUR/USD ANALYSISEUR/USD has been falling on a sustained basis since mid-July more or less. This downward trend has been primarily driven by the contrasting economic performance of the United States and the Euro Area, alongside disparities in the monetary policies pursued by their respective central banks, with this divergence pushing U.S. Treasury yields to multi-year highs across maturities in recent days.Presently, the Federal Reserve’s benchmark rate stands at an impressive 5.25%-5.50%, well ahead of the European Central Bank’s…
First Trust Dividend Strength ETF declares quarterly distribution of $0.1380 Source link
© Reuters. (BTC) could see “substantial inflows” from China within the next few months amid a weakening and one of the country’s biggest capital flights in years. “The familiarity of Bitcoin by Chinese investors in times of a weakening domestic economy could see substantial inflows into Bitcoin over the next few months,” said Markus Thielen, head of research and strategy at Matrixport. Continue Reading on Coin Telegraph Source link
SlavkoSereda/iStock via Getty Images U.S. crude oil futures eked out a 0.01% gain for the week, enough to score an 11th increase in the past 13 weeks, with market uncertainty running high as investors try to decide if crude is overbought or if triple-digit pricing could return for the first time since July last year. Front-month Nymex crude (CL1:COM) for November delivery ended the week at $90.03/bbl, but despite WTI’s tiny gain, Brent crude finished with a small decline after posting three straight weeks of gains, shedding 0.7% for the week to settle at $93.27/bbl. ETFs: (NYSEARCA:USO), (BNO), (UCO), (SCO),…
Crypto exchange Bybit will suspend services in U.K. after ‘final warning’ from the FCA. Binance and its U.S. counterpart, as well as CEO Changpeng Zhao, has filed a joint motion seeking dismissal of the lawsuit from the United States Securities and Exchange Commission. Meanwhile, the firm behind has acquired a stake in miner Northern Data. Cryptocurrency exchange Bybit, a Dubai-based company, has announced the suspension of services to the United Kingdom in response to pending rules from the country’s Financial Conduct Authority, or FCA. Binance and CEO Changpeng Zhao ask court to dismiss SEC suit Continue Reading on Coin Telegraph…
Share: The EUR/GBP made a late-week break for the 0.87 handle. The Pound Sterling continues to give up ground after a dovish BoE shrank from rate hikes, EU PMI figures came in mixed, keeping Euro gains restrained. The EUR/GBP stretched for the 0.8700 major handle in Friday trading, closing the week with over a full percent of upside gains with the Euro (EUR) seeing its best trading week against the Pound Sterling (GBP) since early February. BoE balks on rate hike, EU Manufacturing PMI misses the mark The Bank of England (BoE) pulled back from a broadly-anticipated rate…
Share: S&P 500 concluded the week at 4,320.06, marking a 0.23% daily and a 3.02% weekly drop, reaching levels last seen in June, with Nasdaq and Dow Jones also incurring losses Federal Reserve’s decision to hold rates but revise upward projections for the Federal Funds rate for 2023 and 2024 spurred a sharp reaction in financial markets. Sector-wise, Technology and Energy emerged as gainers, while Consumer Discretionary, Financials, and Real Estate were the laggards. Wall Street finished the week on a lower note, mixed with the S&P 500, the Nasdaq, and the Dow Jones printing losses. Additionally, US…
The week’s primary focus revolved around central bank actions in response to persistent inflation and economic slowdown signals. The New Zealand dollar emerged as the top-performing currency, while the British pound struggled to last place as sentiment stemming from the Bank of England’s recent shift in policy stance weight on Sterling. Missed the major forex headlines? Here’s what you need to know from last week’s FX action: USD Pairs Overlay of USD vs. Major Currencies Chart by TradingView The U.S. dollar was driven once again by Fed speculation, but this time we got speculation confirmation with the FOMC giving us their…
The NZD and the AUD are ending the day as the strongest of the major currencies. The JPY is the weakest. The latest central bank decision came before the US open, when the Bank of Japan in The rates unchanged but did say that they would consider easy policy exit 1 achievement 2% inflation is in sight and that sustainability of wage hikes the most important thing for the inflation outlook. The strongest to weakest of the major currenciesThe USD end of the day mixed with gains versus the JPY (+0.55%), GBP (+0.45%), CHF and EUR, and losses vs the…