Author: FX

USD/JPY AnalysisUSD/JPY likely to see muted trading until tomorrow’s FOMC meeting + projectionsIG client sentiment clouded by the recent uptick in longs. Overwhelming short positioning remainsThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryUSD/JPY Likely to See Muted Trading Until TomorrowThe week was always shaping up to be a quiet one at first before ramping up drastically from Wednesday right up until the weekend. Tomorrow the FOMC rate decision is likely to spur volatility in the pair even though the committee is likely to keep…

AutoZone GAAP EPS of $46.46 beats by $1.57, revenue of $5.69B beats by $80M Source link

© Reuters. A person walks through the City of London financial district in London, Britain, February 10, 2023. REUTERS/Henry Nicholls/File photo LONDON (Reuters) – Britain remains on course to have the highest inflation of leading rich economies in 2023, according to Organisation for Economic Co-operation and Development forecasts which showed the country’s inflation problem widening compared with most of its peers. Britain’s headline inflation rate was set to average 7.2% over 2023, up from a previous forecast of 6.9% made by the OECD in June. The fresh estimate represented the biggest upwards revision for any Group of Seven economy -…

Canada is printing its August inflation numbers! Will today’s release extend NZD/CAD’s downtrend? Or will it start a range and then a reversal? We’re looking at the 1-hour chart today, yo! NZD/CAD 1-Hour Forex Charts by TV In case you’ve been too busy trading USD-related currency pairs, then you should know that NZD/CAD has been making lower highs and lower lows since earlier this month after the pair got rejected at the .8080 area of interest. NZD/CAD is now trading closer to .7980 after making new September lows near .7860. Can NZD/CAD still extend its downtrend? The Event Guide for…

“The medicine is beginning to work”Current ECB rates are at a good level, better to be patient nowOnce inflation is back to around 2%, rates can fall againOr so he says. We’ll see how tolerant they can be when economic conditions continue to worsen at the current pace until next year. Source link

Share: EUR/USD risk extra losses below 1.0630, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view: We expected EUR to consolidate in a range of 1.0645/1.0695 yesterday. EUR then traded in a range of 1.0653/1.0698 before closing at 1.0690 (+0.33%). The underlying tone has firmed somewhat, and there is room for EUR to edge higher today. However, any advance is unlikely to break the strong resistance at 1.0730. On the downside, if EUR drops below 1.0655 (minor support is at 1.0675), it would indicate that the current mild upward pressure…

Crude Oil, WTI, Brent, Saudi Arabia, China, Aramco, Fed, EIA, API, Backwardation – Talking PointsCrude oil jumped to print fresh highs again yesterdayWorries over China appear to be being ignored for nowThe oil market structure might be supportive of higher WTI Recommended by Daniel McCarthy Understanding the Core Fundamentals of Oil Trading Crude oil made another 10-month high overnight despite some reservations about the outlook for China’s economy and central banks’ tight monetary policy. Nonetheless, the underlying market structure appears intact for now.The Brent futures contract touched US$ 94.95 bbl and the WTI contract hit US$ 91.36 bbl.Yesterday at the…

imaginima/E+ via Getty Images The top executives of Exxon Mobil (NYSE:XOM) and Saudi Aramco (ARMCO) voiced support for the global transition to cleaner energy while saying oil will continue to play a major role for decades to come, in remarks Monday at the World Petroleum Congress in Calgary. Exxon (XOM) CEO Darren Woods and Saudi Aramco (ARMCO) boss Amin Nasser both pushed back against the recent prediction from the head of the International Energy Agency that the era of fossil fuels is ending and demand will peak by 2030, saying the transition to cleaner energy to fight climate change will…

© Reuters. Bank Indonesia’s logo is seen at Bank Indonesia headquarters in Jakarta, Indonesia, September 2, 2020. REUTERS/Ajeng Dinar Ulfiana/File photo By Devayani Sathyan BENGALURU (Reuters) – Bank Indonesia (BI) will keep its key interest rate unchanged at 5.75% on Thursday and for the rest of the year to maintain the stability of the rupiah currency, similar to most of its Asian peers, as inflation continues to ease, a Reuters poll found. Inflation, at 3.27% in August, has stayed below the central bank’s 2-4% target range over the past few months, but rising U.S. Treasury yields and concerns over an…

Highest for this since late April. ANZ comments on the still dour result, looking for the bright side:While it remains at very low levels, there are signs of tempered optimism amongst households. Inflation expectations also fell to 4.9% – the lowest since Feb 2022 This article was written by Eamonn Sheridan at www.forexlive.com. Source link