Author: FX
Outlook on FTSE 100, DAX 40 and S&P 500 following ECB rate hike, second reduction in reserve ratio requirement by PBOC and successful Arm IPO. Source link
By Anne Kauranen HELSINKI (Reuters) -Finland’s economic downturn will last longer than expected, driven by weaker export demand and a rapid slowdown in construction activity in the face of high interest rates, the Bank of Finland said on Friday. The Finnish economy is in mild recession and will contract 0.2% this year, the bank said, updating forecasts that predict a return to growth of only 0.2% in 2024, down from its previous estimate of 0.9%. Hundreds of construction companies have already gone bankrupt this year in Finland, and the coming months do not look much brighter. Real estate data shows…
AUD/USD ANALYSIS & TALKING POINTSEncouraging news from China back AUD.US data in focus later today.AUD/USD faces trendline resistance. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar is tentatively pushing higher this morning after being depressed for some time. Chinese economic data (see economic calendar below) bolstered the ‘pro-growth’ currency as industrial production and retail sales surprised to the upside. A welcome statistic for Chinese officials considering recent data has suggested weak economic growth leaving closely linked currencies like the AUD weakened.Although the US dollar is trading marginally lower today, yesterday’s robust US data…
There aren’t any significant expiries to take note of for the day. There is a large one for USD/JPY at 146.75 but that is not likely to factor into play given the price action we’re seeing. As such, trading sentiment will continue to rely more on the risk mood and bond market developments once again with the dollar sitting in a decent spot after yesterday’s advance.For more information on how to use this data, you may refer to this post here. Source link
Share: USD/CAD attracts some sellers and trades in negative territory for the sixth consecutive day on Friday. The pair holds below the 50- and 100-hour EMAs; the Relative Strength Index (RSI) stands below 50. The immediate resistance level for the pair is seen at 1.3530; the 1.3490 acts as an initial support level. The USD/CAD pair extends its downside around the 1.3500 mark during the early European session on Friday. A rally in crude oil prices near the highest level since November 2022 boosts the commodity-linked Loonie against the US Dollar (USD) and acts as a headwind for…
EUR/GBP has been trading sideways on its 4-hour time frame. I’m seeing a small rising channel that’s forming, too! Do you think these nearby support levels might still hold? EUR/GBP 4-hour Forex Chart by TV This forex pair has been pacing back and forth between support around .8525 and resistance near the .8650 minor psychological mark. Price is currently hovering around the area of interest at the middle of the range, still deciding where to go next. Technical indicators are giving mixed signals so far. The 100 SMA is below the 200 SMA to suggest that there are some bearish…
RinoCdZ/iStock Unreleased via Getty Images Media mogul Byron Allen made a $10 billion offer to Walt Disney (NYSE:DIS) to purchase the ABC TV network, local stations, as well as the FX and National Geographic cable channels. The bid is said to be preliminary and may be altered, according to a Bloomberg report, which cited a person familiar with the matter. Allen is expected to work with banks and private equity companies to finance a potential deal. The news comes after Bloomberg reported earlier Thursday that Disney (DIS) has held early talks about selling its ABC network and stations to broadcast…
© Reuters. FILE PHOTO: Men stand near residential buildings in Beijing, China April 14, 2022. REUTERS/Tingshu Wang/File Photo BEIJING (Reuters) -China’s new home prices fell at the fastest pace in 10 months in August, official data showed on Friday, as conditions in the property sector continued to worsen despite a recent flurry of support measures. The 0.3% fall month-on-month came after a 0.2% drop in July, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices were down 0.1% from a year earlier, after a 0.1% decline in July. China has in recent weeks delivered a raft…
Market Recap Recommended by Jun Rong Yeap How to Trade FX with Your Stock Trading Strategy A significantly stronger-than-expected US August retail sales (0.6% month-on-month versus 0.2% forecast), along with firm expectations for a rate hold from the Fed next week, fed into some soft landing hopes overnight. Major US indices registered a new one-week high, while the VIX heads back to retest its year-to-date low as a reflection of risk-on sentiments.The improved risk mood came despite a hotter-than-expected read in US headline Producer Price Index (PPI), largely as continued moderation in both the core producer and consumer prices still…
The backdrop to the data due today and the monthly Medium-term Lending Facility (MLF) rates setting are the twin moves from the People’s Bank of China on Thursday:The PBoC set the MLF rate on the 15th each month. The PBOC’s MLF rate is a benchmark interest rate that banks in China can use to borrow funds from the People’s Bank of China for a period of 6 months to 1 year, medium-term liquidity to commercial banks.The interest rate on the MLF loans is typically higher than the benchmark lending rate (more on these below), which encourages banks to use the…