Author: FX

AUD/USD is falling sharply after getting rejected at the .6900 resistance! Are we looking at a reversal? Or are AUD bulls just taking a breather? AUD/USD 1-Hour Forex Chart by TV As you can see, there were enough bears at the .6900 psychological handle to prevent AUD/USD bulls from extending a sharp July upswing. The pair is now trading just above .6800, which is right around a 38.2% Fibonacci retracement and the Pivot Point level (.6780) on the 1-hour time frame. Are we looking at a pullback? Or is AUD/USD ready for a reversal? Given how the markets reacted to…

Nikada Japan markets closed. China -1.06%. China’s GDP grew lower than expected to 6.3% in the second quarter China’s industrial output growth of 4.4% beats estimates; retail sales up 3.1% People’s Bank of China set MLF rate at unchanged 2.65%, as expected. New home prices unchanged in June, weakest result this year Hong Kong markets closed. Hong Kong markets will likely be closed all Monday due to a warning issued for Typhoon Talim. Australia -0.06%. India +0.25%. Singapore’s non-oil domestic exports in June were+5.4% m/m (+5.9% expected). New Zealand data: June services PMI 50.1 (prior 53.3). In the U.S. on…

© Reuters. FILE PHOTO: South African President Cyril Ramaphosa (not pictured) and Singapore Prime Minister Lee Hsien Loong attend a media briefing and signing ceremony at Tuynhuys to strengthen the bilateral relationship between the two countries in Cape Town, South By Xinghui Kok SINGAPORE (Reuters) – Two of Singapore’s ruling party lawmakers including the house speaker have resigned, Prime Minister Lee Hsien Loong said on Monday, calling the moves necessary to uphold the party’s standards. Resignations of senior People’s Action Party (PAP) members are rare in Singapore, where the party has been in power since 1959, before the city-state’s independence…

This week is filled to the brim with top-tier data releases, so make sure you’ve prepped for these potential profit opportunities! Not only does China have its quarterly GDP and retail sales data due, but we’ve also got inflation and consumer spending reports lined up from major economies. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the calendar this week: China’s data dump Things are off to an exciting start, as the Chinese Q2 GDP is up for…

Forex news for Asian trading on Monday, 17 July 2023 Goldman Sachs expects the Bank of England to hike by 50bp at its August meetingChina Q2 GDP +0.8% q/q (expected 0.5%)China June: Retail sales +3.1% y/y (expected 3.2%) Industrial output +4.4% y/y (exp 2.7%)Hong Kong exchange has cancelled all Monday trading due to TyphoonPeople’s Bank of China set MLF rate at unchanged 2.65%, as expectedPBOC sets USD/ CNY mid-point today at 7.1326 (vs. estimate at 7.1386)ICYMI – BlackRock CEO Fink said US inflation likely to be sticky now, stay above 2% targetThe goldilocks price for oil is around US$70 per…

Share: NZD/USD remains under some selling pressure for the second straight day on Monday. The mixed Chinse macro data does little to provide any meaningful impetus to the pair. Bets that the Fed will soon end its rate-hiking cycle to cap the USD and act as a tailwind. The NZD/USD pair extends Friday’s modest retracement slide from the 0.6410 area, or its highest level since February and kicks off the new week on a weaker note. Spot prices remain depressed for the second successive day and trade around mid-0.6300s, moving little in reaction to mixed Chinese macro data.…

Discover what kind of forex trader you are Initial gains in Wall Street last Friday failed to find much follow-through, with the DJIA eking out a slight gain (+0.3%) while the S&P 500 (-0.1%) and Nasdaq (-0.2%) closed in the red. The US consumer sentiment index last Friday has smashed past expectations to turn in its highest level since September 2021 (72.6 versus 65.6 consensus), with the stellar read essentially pushing back against recessionary concerns, given that past recessions since 1968 were marked by a decline in the US consumer sentiment data.That said, earnings results from major US banks were…

Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research. According to a July 14 filing with the United States Bankruptcy Court for the District of New Jersey by the unsecured creditors’ committee, BlockFi’s risk management team reported on the “high risks” associated with lending assets to Alameda. Prince allegedly dismissed concerns from the team on BlockFi lending Alameda $217 million by August 2021. The team suggested there could be risks if the (FTT) used to secure the loans needed to be liquidated. Continue Reading…

The Chinese data release is scheduled for 0200 GMT on Monday, 17 July 2023 this is 10pm US Eastern time on Sunday, 16 July Expectations for June ‘activity’ data are subdued, reflecting the weak economic recovery China is experiencing. The y/y GDP is showing an impressive 7.7% expected. The thing about this is that the good number expected is mainly due to the base impact of very poor growth for the equivalent perion of 2022. Keep your eyes on the q/q data instead, a half a per cent growth from Q1 is all that is expected. Source link

Equity Lifestyle Properties Q2 2023 Earnings Preview Source link