Author: FX
© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid By Sinéad Carew, Shristi Achar A and Amruta Khandekar (Reuters) – The closed slightly higher on Friday, with trading choppy toward the session’s end and all three of Wall Street’s major averages showed weekly declines as investors worried about interest rates and waited tentatively for upcoming U.S. inflation readings. Investors worried about rising oil prices and they have been fretting ahead of the Consumer Price Index (CPI) for August, due on Sept. 13, seeking…
The U.S. dollar had a stellar week thanks to updates showing the U.S.’s economic resiliency relative to the globe, building the case for another Fed rate hike ahead. The Loonie came in a close second thanks to a strong move higher in oil prices and a surprisingly hot employment update from Canada. Missed the major forex headlines? Here’s what you need to know from last week’s FX action: USD Pairs Overlay of USD vs. Major Currencies Chart by TV The U.S. dollar easily took the crown this week, with several factors likely drawing buyers to the Greenback. First, it was possibly…
You could kind of sniff out some late day weakness in stocks due to rising yields and a strengthening dollar. The S&P 500 is down 3 points to 4453 after earlier rising to 4477.Shares of TSLA are down 1.3% after earlier rising while shares of NVDA and Boeing are also a drag.In any case, the range today is narrow and it’s an inside week. Sometimes you get fireworks in the first week of September but not always. This article was written by Adam Button at www.forexlive.com. Source link
> US July consumer credit outstanding +10.4B vs +16.0B expected US consumer credit data for July Adam Button Friday, 08/09/2023 | 19:02 GMT-0 08/09/2023 | 19:02 GMT-0 Prior was +17.85B (revised to +14.02B) ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link
It was another positive week for the U.S. dollar, which found support from speculations that the Fed will keep its interest rates higher for longer. But the same hawkish sentiments didn’t do the other major currencies favors, as weak data releases also sparked concerns that a high interest rate would negatively affect their respective economies’ growth trajectories. In commodities, the non-yielding gold saw an intraweek downtrend while supply-related news bumped up the major crude oil benchmarks. So, how exactly did the major global assets behave this week? I can explain, but lemme show you the biggest headlines first: Notable News…
It’s safe to say that the Federal Reserve isn’t hiking in September. The market probability is just 7% and there has been no pushback from anyone meaningful about changing that ahead of the Sept 20 meeting.But there are two top-tier economic data releases next week and perhaps two big surprises would change the Fed’s thinking. If so, they will have to turn to Nick Timiraos at the WSJ or some other Fedwatcher.In any case, we’ll all be free of Fed talk for a fortnight. Source link
Share: Las Vegas Sands Corp. (NYSE: LVS), a prominent player in the global integrated resort industry, has seen its fortunes shift amidst changing landscapes in the world of entertainment and hospitality. This article delves into the present Elliott Wave analysis for the stock, exploring two potential pathways based on Elliott Wave Theory and future prospects. Examining LVS’s daily chart, the rally that commenced in May 2022 unfolded as an impulsive 5-wave advance, reaching $65.5 in May 2023 to mark wave ((1)). Although the year-long rally didn’t surpass the 2018 peak of $81, it created a bullish structure. LVS is presently engaged…
Share: USD/MXN hovers around 17.5684, as lack of fresh economic catalysts and dovish Fed comments keep the pair in check. Despite strong US economic data, November rate hike odds remain at 43.6%, adding uncertainty to the USD/MXN trajectory. Easing Mexican inflation to 4.64% YoY in August provides some relief, but traders eye upcoming US and Mexican economic indicators. The Mexican Peso (MXN) recovered some ground against the US Dollar (USD), though it remains near its week’s lows, while the USD trades soft, printing modest losses. The lack of an economic catalyst and a risk-on impulse keeps the USD/MXN…
Share: NASDAQ exchange sent Mullen notice of delisting. The delisting of MULN could happen as soon as September 15. Mullen is attempting to appeal the delisting decision and gain six months to comply. Failing to maintain the MULN share price above $1 is the reason for the delisting. Mullen Automotive (MULN) stock has gained 2.2% to $0.4340 at Friday’s open. Part of the reason appears to be encouragement that Mullen management is fighting back against NASDAQ’s delisting announcement by attempting to appeal the decision. The NASDAQ Composite is up 0.3% at the start of Friday’s session despite NASDAQ 100…
Share: As Wall Street opens positive, NZD/USD rises 0.57% to 0.5907, partially offsetting fears of a global economic slowdown. US Dollar softens after hitting a six-month high, providing a tailwind for NZD/USD amid a lack of fresh US economic data. Traders await key economic indicators next week, including US inflation data and New Zealand Retail Card Spending, for directional cues. The New Zealand Dollar (NZD) stages a rebound against the US Dollar (USD), but it remains set to finish the week with losses. Fears of a global economic slowdown led by Europe and China dented investors’ mood during…