Author: FX
2/2 © Reuters. FILE PHOTO: Horses wade through water in a flooded area affected by heavy rains that hit Chile’s central-south areas, in Cabrero, Chile, August 21, 2023. REUTERS/Juan Gonzalez/File Photo 2/2 SANTIAGO (Reuters) – Heavy rains in Chile’s central south farming region last week may have caused at least $1 billion in losses, according to estimates by authorities and the industry. The extreme weather conditions led the government to declare a state of catastrophe last week as dangerous rains pounded isolated communities and at least three people dead. The government of President Gabriel Boric issued last week an agricultural…
GBP/USD ANALYSISThe British pound gained ground against the U.S. dollar, but its advance was limited, as traders embraced a cautious position and avoided taking large directional bets ahead of the August U.S. payrolls report due for release on Friday.Given the Fed’s data-dependent approach, labor market incoming information will play a crucial role in determining the FOMC’s next moves, with strong job gains bolstering the case for more monetary tightening and weak employment growth diminishing the prospects of further policy firming.Taking a look at the technical picture, GBP/USD has started to perk up after encountering support at 1.2555 late last week…
Prior was 4.170%This is a 0.1 bps tail but that’s a negligible miss. Some selling is creeping into the long end today though, so that could help to lift the dollar. Gold has given back half its gains already. This article was written by Adam Button at www.forexlive.com. Source link
The RBA recently shared that there’s already a “credible path back to the inflation target” with the current interest rate levels. Is the central bank right to be chill about its current policies? Here are points you need to know if you’re planning on trading Australia’s July inflation figures: Event in Focus: Australia Consumer Price Index (CPI) and inflation data for July 2023 When Will it Be Released: August 30, 2023 (Wednesday), 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Headline CPI y/y: +5.1% forecast vs. +5.4% previous Relevant Data…
Share: S&P 500 made first weekly gain of August after three straight weekly declines. China halves stamp duty on stock trading, sending market higher. Inflation data favored by the Fed arrives on Thursday. US Nonfarm Payrolls data will be released on Friday. Salesforce, CrowdStrike, Broadcom and LuluLemon Athletica release earnings this week. The S&P 500 opened higher on Monday to start the week as investors look forward to a week of economic data prints and earnings while they put the Jackson Hole speech from Federal Reserve Chair Jerome Powell behind them. In an attempt to backstop their equity markets,…
USD/JPY PRICES, CHARTS AND ANALYSIS: Recommended by Zain Vawda Forex for Beginners Most Read: EURO Forecast: EUR/USD, EUR/GBP Eye Reprieve Following Testing WeekThe Yen looked to pare back some losses this morning following the release of the updated Economic outlook by the Japanese Government. This was followed by further attempts from Chinese authorities to bolster the economy which led to a slight risk-on mood in the Asian session and weighing on the US Dollar. However, as the day has progressed and with low liquidity thanks to the UK banking holiday, we have seen USDJPY continue its advance, eyeing a break…
IMPACT Silver reports Q2 results Source link
Anything worth having doesn’t come easy, and that includes success in forex trading. But how long and how intense should our efforts be before we can rightfully expect reasonable trading results? A few months of trading? A specific percentage gain from our initial capital? A specific number of trades? The 10,000-Hour Rule The 10,000-hour rule was popularized by bestselling author Malcolm Gladwell in his book Outliers. In it, Gladwell claims that guided practice for 20 hours/week, 50 weeks a year for 10 years = 10,000 hours; this is the “magic number of greatness” where a person could achieve a level…
© Reuters. A screen displays trading information for ride-hailing giant Didi Global on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. REUTERS/Brendan McDermid/File photo By Josh Ye HONG KONG (Reuters) – Chinese EV maker Xpeng (NYSE:) said it would buy Didi’s electric car development business – a deal worth up to $744 million that will see it supply vehicles to the ride-hailing giant, boosting production and cutting costs. Shares in Xpeng, one of China’s smaller electric vehicle manufacturers and currently loss-making, shot up 11% in Hong Kong trade on the news…
Last week was the Jackson Hole Symposium week and we have heard from many Fed members about their opinions on the momentary policy going forward. There seems to be a consensus for a pause in September as they try to “carefully” assess the lag effects of their tightening to date. Nonetheless, they are ready to do more if conditions require further tightening and in fact, they keep reaffirming their data dependency. The economic data since the last FOMC meeting has been surprising to the upside with the labour market remaining very strong, but the last two inflation reports showed the…