Author: FX
Their latest take comes after the 25 bps rate hike yesterday here, which will see the terminal rate move up to 5.25% according to their forecast. This article was written by Justin Low at www.forexlive.com. Source link
Share: USD/MXN consolidates in a range below the 17.0000 mark through the Asian session on Thursday. The formation of the descending channel and the recent price action still favours bearish traders. The RSI on the daily chart is on the verge of breaking into the oversold zone and warrants caution. The USD/MXN pair struggles to capitalize on the previous day’s modest bounce from the 16.8085 region, or its lowest level since December 2015 and oscillates in a narrow trading band through the Asian session on Thursday. Spot prices, meanwhile, now seem to have found acceptance below the 17.0000…
The downside surprise in US inflation paved the way for more gains in Wall Street overnight (DJIA +0.25%; S&P 500 +0.74%; Nasdaq +1.15%), as the S&P 500 and Nasdaq found a new high since April 2022 and January 2022 respectively. Indication of market relief was reflected with an 8.7% plunge in the S&P 500 VIX, with the index widening the gap below its key 20 level and keeping a risk-on environment in place.Promising inflation progress in the US was displayed in the 3% read for the headline consumer price index (CPI) year-on-year versus the 3.1% expected. More importantly, the core…
© Reuters. FILE PHOTO: U.S. and Chinese flags are seen in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Phil Stewart and David Brunnstrom WASHINGTON (Reuters) -China’s ambassador to the United States held a rare meeting at the Pentagon on Wednesday with the top U.S. defense official for Asia, the Pentagon said, in talks that followed U.S. criticism of Chinese reluctance to engage in military communications. A brief Pentagon statement said Chinese Ambassador Xie Feng discussed defense relations and “a range of international and regional security issues” in talks with Ely Ratner, a U.S. assistant secretary of defense.…
David Becker The Federal Trade Commission is indeed appealing the court decision against the agency’s bid to block Microsoft’s (NASDAQ:MSFT) $69B acquisition of Activision Blizzard (NASDAQ:ATVI). After the FTC was dealt a blow by being denied an injunction against the deal, all indications were that with the litigation on pause only until Friday, the agency might act quickly to follow up. Now it’s appealed to the Ninth Circuit Court of Appeals, where legal experts believe the FTC has a heady task ahead on establishing facts behind its case. And the agency will need an emergency stay to extend the current…
The US CPI report for June came in lower than the consensus expected for both headline and core m/m.JP Morgan, in a nod to Federal Reserve Chair Powell’s comment about a narrow path to avoiding recession, says:”… the narrow path to a soft landing looks a smidgeon wider this morning”Citing:”Core CPI is already off 1.7%-points from its high. The standard models predict that the next 2-3%-points of disinflation will require a significant employment sacrifice, but those models missed both the run-up and partial climb down in inflation.”Goldman Sachs are tipping the July Federal Open Market Committee (FOMC) rate hike to…
Share: After the sharp decline of the US Dollar, more US inflation data is due on Thursday with the Producer Price Index. During the Asian session, Australia’s Consumer Inflation Expectations and China’s trade data are due. Later, the UK will release GDP data. Here is what you need to know on Thursday, July 13: As expected, inflation data from the US led to sharp market moves. The US Dollar plummeted, commodities soared, and Wall Street cheered the potential end of the Federal Reserve’s interest rate hiking cycle. Data from the US showed the Consumer Price Index (CPI) rose…
kodda/iStock via Getty Images Western Midstream Partners (NYSE:WES) wobbles between small gains and losses in Wednesday’s trading, as Wolfe Research downgraded the stock to Underperform from Peer Perform with a $25 price target, cautious ahead of Q2 results that likely will disappoint again. Wolfe’s Keith Stanley said he sees Western Midstream (WES) tracking to the low end of full-year EBITDA guidance on weaker natural gas liquids prices, downside risk to volume growth, and higher costs, which follows recent challenges with FY 2022 EBITDA coming in at the low end of guidance range as well as a soft Q1. Western Midstream…
© Reuters. FILE PHOTO: Images of late Cuban President Fidel Castro, Cuba’s former President Raul Castro and Cuba’s President and First Secretary of the Communist Party Miguel Diaz-Canel are displayed in a billboard in Havana, Cuba, April 12, 2023. REUTERS/Alexandre HAVANA (Reuters) – Cuba’s National Assembly said on Wednesday it “strongly condemns” a resolution by the European Parliament, which criticized the country’s human rights record and called for EU sanctions against Cuban President Miguel Diaz-Canel and other top officials. “The European Parliament lacks the moral, political and legal authority to judge Cuba,” Cuba’s parliament said in a statement. “This could…
GOLD AND EUR/USD OUTLOOK:Gold prices clear technical resistance and rally above $1,950 following softer-than-expected U.S. inflation dataThe U.S. dollar sinks as interest rate expectations shift in a less hawkish directionMeanwhile, EUR/USD soars and moves past the 1.1100 handle, reaching its best level since March 2022 Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Fed Making Headway as US Inflation Slows, S&P 500 Edges HigherGold prices skyrocketed and gained more than 1.3% on Wednesday, bolstered by U.S. dollar weakness and sinking U.S. Treasury yields following softer-than-expected U.S. inflation numbers.According to the U.S. Bureau of Labor Statistics, annual headline…