Author: FX
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…
Share: The GBP/JPY slides on Thursday, giving up more ground. The Pound Sterling is struggling to hold onto gains against the Yen. 2023 has been a solid year for the Guppy, but difficulties remain looking forward. The GBP/JPY pair has slid to a new five-week low after tapping into 182.51 on Thursday, falling away from the 184.00 handle heading into the last trading session of the week. The Pound Sterling (GBP) has struggled to develop further momentum against the Japanese Yen (JPY) recently, with the Guppy flagging towards the 50-day Simple Moving Average (SMA) after failing to maintain…
California reaches $93M settlement with Google over violations of location privacy Source link
GOLD PRICE FORECASTGold prices lack directional conviction as the U.S. dollar charges toward multi-month highs.Precious metals retain a somewhat bearish outlook from a fundamental standpoint.This article looks at XAU/USD’s key technical levels to watch in the coming days.Most Read: US Dollar Setups: USD/CAD, USD/JPY, and AUD/USD; Major Tech Levels IdentifiedGold prices (XAU/USD) were directionless and largely flat on Thursday, languishing near a two-week low, just beneath the $1,910 threshold. Bullion’s value was contained by widespread U.S. dollar strength in FX markets, in a context of rising U.S. Treasury yields, with the 10-year government bond threatening to recapture the 4.30% level.Examining…
© Reuters. FILE PHOTO: A reflection of passersby walking is seen on an electronic board showing Japan’s Nikkei average outside a brokerage, in Tokyo, Japan, March 20, 2023. REUTERS/Androniki Christodoulou/File Photo By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended sharply higher and the greenback jumped on Thursday as robust economic data failed to budge expectations that the Federal Reserve will leave its key interest rate unchanged next week. The rally boosted a broad array of assets. All three major stock indexes ended higher, as did all 11 major sectors of the . The dollar jumped to a six-month…
The ‘sell the fact’ mode continues in the euro. The surprise rate hike was priced in after the leak on Monday and now the sellers are arriving with ECB President Christine Lagarde strongly suggesting that the central bank is done hiking rates.A close below the 1.0635 level would confirm a fresh leg lower. Source link
USD/CAD TECHNICAL ANALYSISBetween mid-July and early September, USD/CAD embarked on a robust uptrend, but the pair encountered resistance near the psychological 1.3700 level before reversing lower just as oil broke out to multi-month highs, a development that added some support to the Loonie given Canada’s high sensitivity to energy markets.Following the recent setback, USD/CAD is perched above a crucial support zone situated near the 1.3500 handle. Although there is a possibility that prices could establish a base around these levels before resuming their rebound, a downside breach of this floor would invalidate the previously constructive bias, setting the stage for…
Share: USD/CAD tallied its fifth day in a row of losses of 1.3515. US August’s PPI ran hot and rose to 1.7% YoY. Retail Sales came in hot. Fed tightening expectations eased somewhat. Yield remains high. Jobless Claims from the second week in September came in lower than expected. On Thursday’s session, the USD/CAD continued its downward path, failing nearly to 1.3510, seeing 0.30% losses. On the CAD’s side, its strength may be explained by higher Oil prices as Canada is a leading exporter, while the USD measure by the DXY index rose to fresh highs around 105.20…
RAND TALKING POINTS & ANALYSISSA mining data , US PPI, retail sales and jobless claims data pool together to limit rand upside.Michigan consumer sentiment the focal point tomorrow.USD/ZAR seeks fundamental catalyst as prices hover around key resistance zone. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR FUNDAMENTAL BACKDROPThe rand has been steadily depreciating against the USD throughout the European session stemming from South African mining data (see economic calendar below). Key mining metrics disappointed and being an integral component to economic growth, frailty in this…
Southland shares fall as co-chief operating officer Timothy sells 1,538 stock Source link