Author: FX
Share: AUD/USD trades sideways around 0.6437 amid the cautious mood. Markets expect the Reserve Bank of Australia (RBA) to keep its cash rate at 4.10% for the third consecutive month. Federal Reserve (Fed) is not expected to surprise the markets, with the probability of keeping rates unchanged at 99%. Market players await the RBA Meeting Minutes ahead of the Fed rate decision. The AUD/USD pair consolidates in a tight range below the mid-0.6400s during the early Asian session on Tuesday. Markets turn cautious ahead of the Reserve Bank of Australia (RBA) interest rate decision later in the day.…
AUD/USD MARKET SENTIMENT ANALYSISAccording to IG’s proprietary data, a substantial 79.55% of AUD/USD traders currently hold long positions, resulting in a bullish-to-bearish ratio of 3.89 to 1 as of late afternoon on Monday.The tally of clients who are net long has risen by 2.75% since yesterday and by 3.44% over the previous week. Conversely, the number of net-short traders has climbed by 13.46% compared to the previous session, but has decreased by 20% over the preceding week.Our approach often involves adopting a contrarian stance when evaluating crowd sentiment, and the current scenario where traders are predominantly net-long implies that there…
da-kuk Stitch Fix (NASDAQ:SFIX) reported revenue fell 22% in FQ4 from a year ago to $375.8M. Active clients were down 6% quarter-over-quarter and 13% lower year-over-year to 3.30M. Net revenue per active client was $497 vs. $546 a year ago. Adjusted EBITDA came in at $10.4M to top the retailer’s guidance range. SFIX’s net loss for the quarter narrowed to $28.7M from $96.3M a year ago. Free cash flow was $17.7M vs. -$46.7M a year ago. Stitch Fix (SFIX) confirmed that it ended its consultation period on the UK business and made the decision to exit the market and wind…
Oil has been on a monster run higher with shallow pullbacks easily drawing in buyers along the way. Will the consolidation lead to a pullback and another buying opportunity for the bulls? WTI Crude Oil Futures: 1-hour WTI Crude Oil Futures 1-hour Forex Chart by TradingView Alright, folks, let’s dive into the wild world of oil prices! Since the end of August, oil has been on a bit of a rocket ride higher. I guess oil bulls decided it was time to show off and went from $78 a barrel to just shy of $91 per barrel–a 16% move in…
© Reuters. Tesla Inc. (NASDAQ:) has reported a surge in sales volumes following a series of price cuts on its models this year, resulting in record deliveries of 466,140 units in the second quarter of 2023. However, the price reductions have also led to a decrease in margins, according to Goldman Sachs analyst Mark Delaney on Monday. Despite the increased sales volumes, Delaney expects Tesla to sell fewer vehicles than previously anticipated in Q3 2023. He lowered his Q3 volume forecast to 460,000 units due to what he believes is “lower S/X demand and the impact of the changeover for…
The big Fed event is coming this week, with high expectations of the FOMC holding interest rates! How likely is this the case and is there still expectations of higher interest rates ahead? Here are major points you need to know if you’re planning on trading the event: Event in Focus: Federal Open Market Committee (FOMC) Monetary Policy Statement When Will it Be Released: September 20, 2023, Wednesday: 6:00 pm GMT Fed Chairman Powell will conduct a presser 30 minutes later. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Fed is expected to…
With nearly 1/2 of the North American session is now over (and most of the day over), and the USDJPY remains in a very narrow 32-pip trading range for the day. That is only 31% of what is a normal day over the last trading month (the normal range for a day is 102 pips). Why bother?When markets are non-trending, it is time to think about trend. Why? Because non-trending transitions to trending. Putting it another way, the price is not going to stay at the current levels for long. There will be a break at some point and when…
Share: AUD/USD trades at 0.6435, recovering from a daily low of 0.6416, as Chinese economic data boosts market sentiment. US Federal Reserve expected to hold rates steady, with a 99% chance of no change, as investors await ‘dot-plots’ for future rate path. Michelle Bullock to begin her term as the new RBA Governor with Australian economic data, including PMIs and inflation, on the week’s docket. The Australian Dollar (AUD) recovers some ground against the US Dollar (USD) as investors brace for a busy week in the central bank space, as the US Federal Reserve is expected to hold…
OIL PRICE FORECAST:Oil Continues to Advance as Supply Concerns and a Potential Rebound in Demand Keep Prices Elevated.Saudi Energy Minister to Provide a Further Update this Week on the Potential for Further Cuts or an Extension into 2024.IG Client Sentiment Shows Traders are 64% Net-Short on WTI at Present, Down from 79% on Thursday Last Week.To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section.Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices remained elevated this morning continuing its advance as a slightly weaker US Dollar and concern…
Carl Court U.S. stocks on Monday made small moves, as traders remained cautious ahead of the FOMC meeting later this week. The S&P 500 (SP500) and the Nasdaq Composite (COMP.IND) were largely unchanged in early trade, while the Dow (DJI) was also -0.1%. “You’d be hard pressed to find someone who thinks (the Fed will) hike this week but our expectation is that they keep the door open for another hike later this year which the dot plot will continue to reflect,” Deutsche Bank’s Jim Reid said. “Our economists believe other parts of the SEP are likely to undergo meaningful…