Author: FX
Share: The US Dollar is retreating even further as US Durable Goods disappoint. Next focus is on US Consumer Confidence data that could at least try to provide some relief for the much battered Greenback today. The US Dollar Index is in the red and ekes out more losses. The US Dollar (USD) is unable to provide an answer against the surprise fixing from the PBoC in the Yuan this morning and just now the disappointing US Durable Goods revisions. This triggered a wave of pressure on the Greenback, particularly against the Canadian Dollar as the USD/CAD pair trades…
EUR/USD, EUR/GBP, EUR/JPY Setups Recommended by Richard Snow How to Trade EUR/USD ECB Officials Provide a Hawkish Boost for the EuroTop central bankers from the world’s largest central banks are arriving in Sintra Portugal for the ECB’s Forum on Central Banking. The annual event culminates in a highly anticipated panel discussion tomorrow, which will include heads of the Fed, Bank of Japan, Bank of England as well as the ECB president. Usually, markets pay attention when any one of the above-mentioned central bank heads make an appearance and tomorrow, they will share the same stage.This morning Martins Kazaks, who leans…
Nextracker announces common stock offering Source link
Who’s ready to trade Canada’s CPI release later today? If you’re hoping to catch a breakout, this chart pattern on CAD/JPY is worth watching. On the hourly chart below, you can see that the pair has formed higher lows and slightly higher highs to consolidate inside a rising wedge formation. CAD/JPY 1-hour Forex Chart by TV The consolidation is looking reaaally tight right now, which means that a breakout is bound to happen soon. A move below the wedge support and the 109.00 major psychological mark might be enough to confirm that Loonie bears have won the round, possibly taking…
The firm adds that they are also upping their terminal rate forecast for the Fed to 5.375% from the 5.10% previously.I would argue it is still early days and we are yet to hear of anything firm from Fed speakers recently. In any case, the FOMC meeting will be on 26 July so there is still roughly four weeks to go. And there will still be plenty of big data coming up before that, with the US CPI data set to be released on 12 July next. Source link
Share: GBP/USD is showing signs of volatility contraction despite the risk-on mood. Cable’s upside is restricted as UK’s high inflation has dampened its outlook while the downside is supported due to USD Index’s correction. BoE Bailey is expected to remain hawkish as UK’s core inflation has printed a fresh high of 7.1%. The GBP/USD pair is trading back and forth in a narrow range of 1.2700-1.2750 in the early London session. The upside in the Cable is restricted as higher inflationary pressures in the United Kingdom have dampened its economic outlook while the downside is supported due to…
Trend warriors gather ’round! GBP/USD may have gotten rejected from a psychological level but it looks like it’s heading for a key support zone! Is the pair gearing up for even more gains this week? GBP/USD 4-hour Forex Chart by TV I don’t know if you noticed, but GBP/USD has returned to making higher highs and higher lows since the start of the month when it bounced from the 1.2300 area of interest. The pair is now trading closer to 1.2800, a high that the pair had not seen since May last year. What makes Cable’s setup interesting today is…
RandyAndy101 Blackstone (NYSE:BX) is considering offers for half its stake in the real estate of the Bellagio casino in Las Vegas. The private equity firm is evaluating its options and hasn’t committed to a sale, according to a Bloomberg report, which cited people familiar with the matter. The Bellagio is operated by MGM Resorts (MGM), its original owner, under a long-term lease. Blackstone purchased the Bellagio real estate for $4.25 billion in 2019. The investment firm agreed to acquire the Bellagio real estate and lease it back to a subsidiary of MGM Resorts. The Bellagio report comes after Prologis on…
Market RecapWall Street added to recent losses overnight (DJIA -0.04%; S&P 500 -0.45%; Nasdaq -1.16%), as the moderation from previous overbought technical conditions and extreme bullish sentiments continues. Amid the relatively quiet US economic calendar to start the week, a series of downgrades in the technology space such as Alphabet and Tesla seem to take on much focus, triggering some profit-taking from its recent stellar outperformance. Market participants rotated into value sectors, with strength in real estate (+2.2%) and energy sector (+1.7%). The VIX is also up 6% as a sign of increased hedging activities on renewed caution.The day ahead…
© Reuters. FILE PHOTO: Coal is unloaded onto large piles at the Ulan Coal mines near the central New South Wales rural town of Mudgee in Australia, March 8, 2018. REUTERS/David Gray/File Photo BRISBANE (Reuters) – Australia’s critical minerals strategy does not need the sugar hit of more subsidies as good projects will find investment, but the country needs to hasten mine development timeframes and rework new workplace legislation, BHP’s CEO said on Tuesday. BHP CEO Mike Henry’s comments came a week after Australia, one of the world’s biggest suppliers of raw minerals, outlined a strategy on how it will…