Author: FX

© Reuters The United States Securities and Exchange Commission (SEC) has postponed its decisions on six applications for spot exchange-traded funds (ETFs). According to SEC filings dated Aug. 31, the commission has designated a longer period in which it may review spot Bitcoin (BTC) ETF applications from WisdomTree, VanEck, Invesco Galaxy, Bitwise and Valkyrie, as well as the Wise Origin Bitcoin Trust proposed by Fidelity. The SEC will have another 45 days upon publication in the Federal Register to consider the proposed rule changes allowing listing of the investment vehicles, giving the regulator until October to approve, deny or delay…

GOLD PRICE (XAU/USD) FORECASTGold prices stall after encountering trendline resistance near $1,950 ahead of a high-impact event on Friday: the release of the latest U.S. jobs reportTotal nonfarm payrolls for August are forecast to have risen by 170,000, following July’s 187,000 increaseThis article looks at XAU/USD’s key technical levels to watch in the coming days Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Setups – Key Price Levels for USD/JPY, USD/CAD & USD/MXN Ahead of US Jobs DataGold prices (XAU/USD) lacked directional…

US equities gave up gains in the final 15 minutes of trading to finish narrowly negative. That caps a losing month for US exchanges but it wasn’t as bad as it was midway through August. Yields fell this week and that sparked a turnaround in tech.As for today, the finish was largely static:S&P 500 -0.2%DJIA -0.5%Nasdaq Comp +0.1%Russell 2000 -0.1%Toronto TSX Comp -0.1%Tomorrow is non-farm payrolls and that’s sure to re-write the script. Read here on why there’s a downside bias in the August report. This article was written by Adam Button at www.forexlive.com. Source link

Share: On Thursday, the GBP/USD lost ground as the USD traded strongly against most of its rivals after the release of July’s Core Personal Consumption Expenditures (PCE) figures. The GBP’s losses are limited by tightening expectations on the Bank of England remaining high. Read More… The Pound Sterling (GBP) demonstrates a corrective move as investors seek fresh cues about the interest rate peak from the Bank of England (BoE) for further guidance. The GBP/USD pair eases some gains inspired by bullish market sentiment and expectations that the 15th consecutive interest rate hike by the BoE will neutralize its policy divergence with the US Federal…

NFP TALKING POINTS AND ANALYSISWill NFPs defy prior jobs data once again?NFP’s to set the tone for September.Risk for upside surprise could tank SPX & establish USD. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter US FUNDAMENTAL BACKDROPNon-Farm Payrolls (NFP) yet again will carry a lot of weigh around financial markets as Friday’s print has the potential to alter the Fed’s policy decision. Before heading into the actual NFP report, the build up has shaped markets towards a more dovish outlook post-NFP. This week kicked off…

Shares of Academy Sports and Outdoors (NASDAQ:ASO) surged more than 14% on Thursday after the sports equipment retailer raised its full-year profit forecast. The Texas-based company now expects FY24 adjusted profit between $6.95 per share and $7.65 per share, compared to previous outlook of $6.80 per share and $7.50 per share. Analysts on average estimate profit to be $6.91. The company reported profit of $2.09 per share during the second-quarter, compared to analysts’ estimate of $2.00 per share. Revenue of $1.58 billion, which declined more than 6%, was in-line during the quarter. Academy Sports and Outdoors said that its operating…

USD/JPY TECHNICAL ANALYSISUSD/JPY (U.S. dollar – Japanese yen) rallied strongly from mid-July through late August, but its bullish momentum has begun to fade over the past few sessions after prices failed to clear channel resistance at 147.35. Following this rejection, the pair has transitioned into what appears to be a consolidation phase, marked by reduced volatility and predominantly indecisive market movements.Despite range-bound trading in recent days, USD/JPY remains firmly biased to the upside, evident from the consistent pattern of higher highs and higher lows this year. As such, bulls may soon regain control of the market and gather the necessary…

EUR/USD news and AnalysisMixed EU Inflation and Cautious ECB Tone add to Downside RisksThe euro sold off on Thursday after markets chose to pay close attention to the more encouraging core inflation print for the Euro area, as opposed to the slight move higher on headline readings. Core inflation printed at 5.3%, in line with expectations but represents a move lower from last month’s 5.5% print.In addition, recent communication from ECB rate setters suggests that a more cautious approach will be adopted by the governing council ahead of next month’s central bank meeting. In the moments before Christine Lagarde addressed…

© Reuters. FILE PHOTO: An investor looks at his mobile phone in front of a board showing stock information at a brokerage office in Beijing, China January 2, 2020. REUTERS/Jason Lee By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) – Higher global interest rates, difficulties in China, a stronger dollar plus another coup in Africa this week have slammed the brakes on what is still a solid run for emerging market assets this year. Below are five charts showing what’s been moved and/or shaken: 1/SHOCK FOR THE STOCKS MSCI’s 24-country emerging markets (EM) stocks index is down 6% this…

USD/ZAR OUTLOOK:MOST READ: EUR/USD Slides as Euro Area Makes Progress on Core Inflation, Headline SteadyThe South African Rand (ZAR) had been enjoying a nice run against the US Dollar this week. The move however came to an abrupt halt at a key support area yesterday before an aggressive bounce which has continued into today’s European session.For Beginner Traders, Download Your Free Forex Guide Below Recommended by Zain Vawda Forex for Beginners US DATA DISAPPOINTSUS data has been on a poor run over the past week and a half as it appears the tightening cycle may finally be bearing fruit. Having…