Author: FX
ANZ Bank has shared its outlook on the AUD/NZD and USD/JPY currency pairs for this week.For the AUD/NZD pair, ANZ suggests that the New Zealand Dollar (NZD) will likely remain range-bound over the next week. The bank recommends adopting a “buy on dips” strategy for the AUD/NZD pair. However, ANZ noted that with market expectations for the Reserve Bank of Australia’s (RBA) terminal cash rate now surpassing 4.6%, there is diminishing potential in the relative RBA vs. Reserve Bank of New Zealand (RBNZ) trade.Regarding the USD/JPY pair, ANZ anticipates that the pair could relinquish some of the gains it has…
Heads up, franc traders! The Swiss National Bank will be announcing their interest rate decision this week, and word through the grapevine is that another hike is due. Will they announce a smaller increase this time, though? Here are the important points you need to know if you’re planning on trading the news: Event in Focus: Swiss National Bank (SNB) Monetary Policy Statement When Will it Be Released: June 22, Thursday: 7:30 am GMT SNB Chairperson Thomas Jordan will hold a press conference after the announcement. Use our Forex Market Hours tool to convert GMT to your local time zone.…
Share: GBP/USD reverses its course late in the European session amidst a low-volume trading day in the FX space, with US markets closed due to a holiday. A risk-off impulse weighs on the Pound Sterling (GBP), which is set to outperform the greenback, as the Bank of England (BoE) is expected to deliver a rate hike on Thursday. The GBP/USD is trading at 1.2793, down a modest 0.19%. Read More… The Pound Sterling (GBP) is correcting lower on Monday and trading at around 1.2800 after showing a big bullish performance last week, rallying to levels not seen since April 2022, near 1.2850. Investors are…
EUR/USD News and AnalysisHawks favour more hikes but divisions within the ECB may soon appearEUR/USD key technical levels assessed and analysed. Countertrend price action to start the weekDrop off in scheduled event risk in Europe and the US this week apart from Powell testimonyThe 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 EUR/USD Hawks Favour More Hikes but Divisions within the ECB May Soon AppearIsabel Schnabel and Peter Kazimir, hawks within the ECB’s ranks, have communicated their preference…
The transaction is pending completion of Beam’s due diligence, which will include customary closing conditions, and is expected to be finalized in Q3 or Q4 2023.The company also said it forecasted revenue for the three months ended June 30, 2023 to be in a range of $15.5 million to $17.0 million. For the three months ended June 30, 2023, Beam expects delivering about 195 to 205 ARC solar-powered EV charging infrastructure systems.Additionally, the company also launched an underwritten public offering of shares of its common stock without disclosing the offering size. Source link
© Reuters (BTC) plans by BlackRock (NYSE:) appear to have sparked a rally in the “OG” institutional BTC investment vehicle. Data from monitoring resource CoinGlass shows that on June 17, the Grayscale Bitcoin Trust (GBTC) almost hit new 2023 highs.GBTC premium vs. asset holdings vs. chart (screenshot). Source: CoinGlassARK Invest GBTC holdings chart (screenshot). Source: Cathie’s ARKContinue Reading on Coin Telegraph Source link
RAND ANALYSIS & TALKING POINTSChinese optimism carries ZAR this morning as risk on sentiment prevails.Key inflection point looming on daily USD/ZAR chart. Recommended by Warren Venketas Get Your Free USD Forecast USD/ZAR FUNDAMENTAL BACKDROPThe South African rand opened the week on the front foot once again looking for its fourth straight week of weekly gains. Locally, loadshedding (blackouts) have somewhat diminished allowing for businesses to run more efficiently and if this trend is to continue the rand may gain additional traction. Overall the economy remains weak but the SARB has ensured an attractive carry trade for investors looking for added…
The Swiss National Bank will raise interest rates by 25 basis points on June 22, defying market expectations for a larger move, according to economists polled by Reuters who said the bigger risk was rates will peak higher than they expect.An overwhelming majority of economists, 30 of 33, polled June 15-19 said the SNB will raise its key policy rate by 25 basis points to 1.75%, less than the 50 basis points it delivered in March”We think the SNB will deliver another 25bp hike in June, with a risk for 50bp…and, while still data dependent, this is probably the last…
Share: In the view of Markets Strategist Quek Ser Leang at UOB Group, USD/IDR could advance to the 15,015 level in the near term. Key Quotes Last week, we held the view that USD/IDR “is likely to edge lower but a sustained drop below 14,740 is unlikely”. Our view was incorrect as USD/IDR rose to high of 14,960. USD/IDR opened on a firm note in Asian trade today and it is likely to rise further to 15,015 this week. The next resistance at 15,045 is unlikely to come under threat. Support is at 14,925, followed by 14,850. …
POUND STERLING ANALYSIS & TALKING POINTSUK CPI expected to come in hotter, exacerbating inflationary pressures.Market pricing may be overkill leaving room for a GBP correction.Overbought signal on cable could point to a pound selloff. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPThe British pound has held on to it’s gains from last week, despite being marginally weaker against the US dollar. This comes on the back of a hawkish rhetoric surrounding the Bank of England (BoE)’s upcoming interest rate decision (see economic calendar below). Recent robust jobs data and elevated inflation levels will most likely keep…