Author: FX
Share: Pound Sterling attracts offers above 1.2950 and has resumed its downside journey. A decline in United Kingdom’s inflation has offered some relief to Bank of England policymakers. UK finance minister is confident of winning the battle against elevated inflation. The Pound Sterling (GBP) has resumed its downside journey after meeting critical resistance above 1.2950. The GBP/USD pair has shifted into a bearish trajectory as investors hope that the Bank of England (BoE) won’t hike interest rates by a wide margin now since inflation has responded well to easing food prices offered by producers at factory gates. However,…
Risk aversion has dragged risk assets like GBP lower this week while safe havens like CHF have gained pips. Can the tides turn for GBP/CHF after the U.K.’s retail sales release? I don’t know if you’ve read Pippo’s June U.K. Retail Sales Event Guide, but it’s possible that we’ll see better-than-expected retail activity for the third month in a row tomorrow. GBP/CHF 15-Minute Forex Chart by TV Strong retail numbers would give the Bank of England (BOE) more room to raise its interest rates if needed. The increased probability of another BOE rate hike could then support GBP against major…
Canadian Dollar Vs US Dollar, British Pound, Euro – Outlook:CAD supported by a hawkish Bank of Canada rate.USD/CAD is attempting to break below a major sideway pattern.How do the crosses GBP/CAD and EUR/CAD look? Discover what kind of forex trader you are The Canadian dollar looks set to resume its rise against some of its peers, thanks to a still-hawkish Bank of Canada (BoC) and a potential base building in oil prices.BoC hiked its key overnight rate by 25 basis points to a 22-year high of 5.0% last week and left the door open for further tightening as it doesn’t…
Wintrust Financial GAAP EPS of $2.38 misses by $0.01, revenue of $560.57M beats by $3.05M Source link
Check out this neat confluence on the 4-hour time frame of GBP/USD! Do you think the uptrend is bound to resume soon? Here are the technical signals I’m keeping tabs on. GBP/USD 4-hour Forex Chart by TV Cable has been cruising with higher lows connected by an ascending trend line that’s been holding since last month. The pair is back in correction mode and looks ready to test this support zone, which happens to be in line with the 61.8% Fibonacci retracement level. To top it off, the area of interest coincides with a former resistance area around the 1.2850…
© Reuters. FILE PHOTO: U.S. Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on “the Consumer Financial Protection Bureau’s Semi-Annual Report to Congress” on the Hill in By Douglas Gillison (Reuters) – U.S. lenders hoping for easy merger approvals in the wake of the March banking crisis should instead expect tough scrutiny from regulators worried about financial stability, the director of the Consumer Financial Protection Bureau (CFPB) told Reuters. Rohit Chopra also said in an interview that the agency was pressing ahead with enforcement efforts despite multiple stays imposed…
Eyes were on the People’s Bank of China Loan Prime Rate setting today:But the PBOC surprised with two moves elsewhere. The reference rate was hit with a huge hammer, the Bank set the rate 700+ points lower than the reported expected:Secondly, the bank eased its macro-prudential adjustment parameter, raising it to 1.5 from 1.25. This eases companies and financial institutions’ cross-border financing, enabling more foreign capital inflows.CNH has rocketed higher on the twin moves:In turn this has fed through to a higher AUD (AUD likes a stronger yuan as at the amrgin it gives China extra $ to buy Australia’s…
Share: June month employment statistics from the Australian Bureau of Statistics, up for publishing at 01:30 GMT on Thursday, will be the immediate catalyst for the AUD/USD pair traders. Market consensus suggests that the headline Unemployment Rate may remain unchanged at 3.6% on a seasonally adjusted basis whereas the Employment Change could rise by 15.0K versus the previous contraction of 75.9K. Further, the Participation Rate is expected to remain unchanged at 66.9% during the stated month. Considering the Reserve Bank of Australia’s (RBA) latest pause in the rate hike trajectory, as well as the mixed inflation clues from…
FreezeFrames/iStock via Getty Images ProPetro (NYSE:PUMP) and Helmerich & Payne (NYSE:HP) led North American land drillers and frackers higher, +6.1% and +3.4% respectively in Wednesday’s trading, as Benchmark upgraded the stocks to Buy from Hold with respective $16 and $50 price targets, seeing a “tactical trading opportunity” in the group. Pure-play Permian Basin fracking play ProPetro (PUMP) trades 43% below its average multiple, and no. 1 U.S. land driller Helmerich & Payne (HP) trades 34% below average multiple, Benchmark analyst Kurt Hallead said. “Everything in this space is primed to work as new long only money looks for a home…
© Reuters. FILE PHOTO: Spanish army servicemen prepare NASAMS medium range ground-based air defence rocket launcher, in Lielvarde air base, Latvia March 29, 2023. REUTERS/Ints Kalnins/File Photo By Kanishka Singh WASHINGTON (Reuters) – The United States on Wednesday announced additional security assistance of about $1.3 billion for Ukraine in its war with Russia, the package including air defense capabilities, drones and munitions. “This announcement represents the beginning of a contracting process to provide additional priority capabilities to Ukraine,” the Pentagon said in a statement. The United States is using funds in its Ukraine Security Assistance Initiative (USAI) program, which allow…