Author: FX

Share: Silver Price struggles to defend four-day uptrend, retreats from the highest levels in a week of late. Convergence of 200-EMA, 50% Fibonacci retracement challenges intraday XAG/USD bulls. Below 50.0 RSI suggests bottom-picking around the golden Fibonacci ratio. Multiple hurdles stand tall to challenge Silver buyers. Silver Price (XAG/USD) struggles to defend the four-day-old winning streak as it retreats from the weekly top surrounding $23.10 to $22.90 during early Wednesday. In doing so, the bright metal portrays the failure to cross the $23.00 key upside hurdle amid bearish MACD signals. However, the RSI (14) condition, which is below…

Overnight, market participants seem to take comfort from a series of stronger-than-expected economic data out of the US, with economic resilience being the takeaway and calmed some nerves for an impending recession. A pull-ahead in US durable goods (1.7% versus -1% expected), rebounding consumer confidence (109.7 versus 104 expected) and surging new home sales to its highest in more than a year were all well-received by Wall Street, with traction returning to mega-cap tech stocks (DJIA +0.63%; S&P 500 +1.15%; Nasdaq +1.65%).While economic resilience can build the case for tighter monetary policies, rate expectations thus far remain well-anchored for an…

© Reuters. Brazil’s former President Jair Bolsonaro gestures as he greets supporters at Salgado Filho International Airport, on the day the Electoral Justice begins the trial to determine his political rights, as he arrives in Porto Alegre, Rio Grande do Sul, Brazil RIO DE JANEIRO (Reuters) – Former Brazilian President Jair Bolsonaro, who is clinging to his political future after testing Brazil’s democracy to its limits in last year’s election, is back in electoral court for a second day of hearings on Tuesday. If Bolsonaro is found guilty of abusing his power last year for spreading falsehoods to ambassadors about…

ClaudioVentrella/iStock via Getty Images Chinese medtech Baird Medical (BDMD) plans to go public through a merger with SPAC ExcelFin Acquisition Corp. (NASDAQ:XFIN). The deal pegs the enterprise value of the combined company at $370M, with shares expected to trade on Nasdaq under the symbol BDMD. Headquartered in Guangzhou, Baird is a leading developer and provider of microwave ablation devices in China. The company is expected to report 2023 net income of $18M on revenue of $45M. For 2022, Baird reported revenue of $35M, according to the companies. More on healthcare SPACs: AUM Biosciences terminates merger with SPAC Mountain Crest V…

The European Central Bank conference in Sintra, Portugal broguth plenty of central bank speakers on Tuesday, links to comments can be found here:And the conference continues today with a heavy-hitter panel of Governors to come. The full agenda for Wednesday, 28 June 2023 is below, there are two many highlights to mention but I’ve underlined a few:more to come Source link

Share: GBP has been the market’s darling this week so far as the initial balance extends higher and higher. However, as the following charts illustrate, there could be a turnaround on the cards soon. Read More… The Pound Sterling (GBP) is looking for a break above the immediate resistance as the United Kingdom’s government looking beyond monetary tools to bring down stubborn inflation. The recovery in the GBP/USD pair has faded as the adaptation of new fiscal measures such as cutting wages of public sector employees by the British administration are losing their impact. The British government also asked companies to bring down profit…

Who’s ready to trade one of the most anticipated calendar events this week? I’m talking about the Fed’s preferred inflation measure, yo! Here are points you need to consider if you’re planning on trading Friday’s report: Event in Focus: U.S. Core Personal Consumption Expenditures (PCE) Price Index for May 2023 When Will it Be Released: June 30, 2023 (Friday), 12:30 pm GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: U.S. core PCE price index (m/m): 0.3% forecast vs. 0.4% previousU.S. core PCE price index (y/y): 4.5% forecast vs. 4.7% previous Relevant Data…

Brent and WTI Crude Oil News and AnalysisSomber global outlook appears to restrict oil prices despite cumulative output cutsWTI approaches prior significant level of $67 which has acted as a pivot point beforeBrent crude oil eyes $71.50 as the next level of supportIG client sentiment issues a mixed signal but extreme long positioning eyes more downsideThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade Oil Oil Markets Fail to Shake Negative Sentiment as a Well-Established Level of Support…

First Trust Tactical High Yield ETF declares monthly distribution of $0.1900 Source link

Richmond Fed manufacturing activityPrior month -15Manufacturing index -7 versus -15 last monthFifth District manufacturing activity was relatively flat in June, with the composite manufacturing index improving from -15 in May to -7 in June.Two of its three component indexes — shipments and new orders — also improved but remained negative. Shipments index rose from -13 in May to -5 in June, while the new orders index rose from -29 to -15.The employment index slightly decreased from 5 in May to 2 in June.Firms were less pessimistic about local business conditions as the index rose to -8 in June from -16…