Author: FX
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, S&P 500 Analysis and ChartsFTSE 100 sinks on rate hike fears The FTSE 100 is fast approaching its March low at 7,204, tracking losses in Asia and on Wall Street as strong US ADP jobs data reinforced expectations that the Federal Reserve (Fed) will hike rates further. Minor resistance can be spotted at the 7,296 December low and also at the 7,331 24 March low.FTSE 100 Daily Price Chart Recommended by IG Get Your Free Equities Forecast DAX 40 falls through key supportThe DAX 40 has now fallen through…
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GOLD (XAU/USD) KEY POINTS: Recommended by Zain Vawda Download the Full Q3 Forecast on Gold READ MORE: Gold and Silver Price Forecast: XAU/USD, XAG/USD May Fall Amid Bullish Retail TradersUS Yields Rise, Red-Hot ADP Data, NFP AheadGold prices continued their recovery in the Asian session following another day probing the key $1900/0z psychological level. Yesterdays red hot data out of the US facilitated the push toward the $1900 but failing to find acceptance below once more.US ISM services and ADP data yesterday provided further signs of the resilience of the US economy despite growing calls that a recession is on…
Xiaolu Chu/Getty Images News Electric vehicle giant Tesla (NASDAQ:TSLA) is laying off some battery production workers at its Shanghai plant in China amid the ongoing price war in the electric vehicle space, Bloomberg reported citing people familiar with the matter. Tesla (TSLA) started notifying some workers on the battery assembly lines about the layoffs earlier this week, although the number of employees being laid off, or the reason why, remain unclear. Some employees have been given the option to transfer to another workshop. Automation equipment that could replace human labor on the battery production line is being designed, the report…
© Mundo Crypto PR (BTC) Lightning Network development firm Lightning Labs unveiled a new set of tools for artificial intelligence to send and receive BTC on the network’s layer-2 solution. On July 6, Lightning Labs announced the toolkit which helps enable AI applications such as OpenAI’s ChatGPT to interact with the Bitcoin network to send, receive and hold the cryptocurrency. Continue Reading on Coin Telegraph Source link
Crude Oil, EIA, API, Federal Reserve, Non-farm Payrolls, AUD, CAD, NZD, Gold – Talking PointsCrude oil has been buoyed by shrinking stockpiles and solid US dataThe extent of Fed hawkishness has been reappraised by the marketIf today’s US non-farm payrolls beat estimates, will WTI break higher? Recommended by Daniel McCarthy Get Your Free Oil Forecast Crude oil is bumping up against the top end of the recent range going into Friday’s session as robust US data lifted the outlook for economic activity in the world’s largest economy.Stockpiles of crude reported by the US Energy Information Agency (IEA) revealed a drop…
Is bitcoin gearing up for another pullback? BTC/USD recently busted through its falling trend line but seems to be stalling around $31,500. If that’s the case, better keep your eyes on these potential support zones at the Fib retracement levels. Bitcoin (BTC/USD) 4-hour Chart by TV Breaking below its short-term consolidation pattern could clear the way for a test of the 38.2% Fib near the $29,000 handle. An even larger pullback could reach the 50% level that lines up with the 200 SMA dynamic support or the 61.8% Fib that’s closer to the former trend line resistance. Technical indicators are…
European Central Bank speakers on the agenda for Friday, 7 July 2023. Nagel and de Guindos look the most likely to make market pertinent comments:1200 GMT/0800 US Eastern time: European Central Bank policymaker and Bundesbank President Joachim Nagel takes part in a panel discussion titled “Central Banks’ Battle Against Inflation: Implications for Monetary Policy”1500 GMT/1100 US Eastern time: Keynote address by Vice-President of the European Central Bank Luis de Guindos at workshop “Examining the inflationary surge affecting economies around the world” organised by King’s College in London1630 GMT/1230 US Eastern time: ECB President Christine Lagarde participates in a session spéciale…
Share: GBP/USD takes offers to extend pullback from the highest level in a fortnight. Three-week-old horizontal resistance challenges Cable buyers as US employment report looms. BoE hawks reassess previous optimism amid risk-off mood and weigh on the Pound Sterling price. Key EMAs, ascending support line from late May restrict short-term downside. GBP/USD consolidates the first weekly gains in three while refreshing the intraday low near 1.2730 amid very early Friday morning in London. In doing so, the Cable pair justifies the market’s preparations for the all-important US employment report for June, as well as the reassessment of the…
Resilient labour market conditions and persistent services sector’s prices were not well-received by Wall Street yesterday, as the overnight data called for a hawkish bias in Federal Reserve’s (Fed) policies. A significant beat in the US ADP report (497,000 versus 228,000 forecast) was followed up with continued strength in the services sector, as the US ISM services purchasing managers index (PMI) data came in at its highest reading in four months (53.9 versus 51 forecast). Still-robust labour demand was also reinforced by a renewed expansion in the services PMI employment index (53.1 versus 49.9 forecast).Given that the Fed has previously…