Author: FX

It is triple witching hour this week which can increase the end of day volatility. It is also the start of a three-day weekend in the US maybe there is some liquidation/profit-taking. As a result, indices are trading to new session lows. A snapshot of the market currently shows:Dow industrial average -88 points or -0.25% at 34320.50S&P index -12.9 points are -0.29% at 4413.15NASDAQ index -83 points are at -0.60% at 13699.90Microsoft shares are down $4.27 or -1.23% of $343.82 after trading to a new all-time high of $351.47. Apple shares are also lower after it traded to an all-time…

The price of crude oil is settling at $71.78. That is up $1.16 or 1.64%. The high reached $72.01. The low price was at $70.18.For the trading week, the price is up $1.76 or 2.52%.The low price for the week was reached on Monday at $66.82. The high price was today’s high at $70.01.Crude oil is closing their the weeks highsLooking at the hourly chart above, the price moved below the low price from May 31 at $67.03, but could not sustain momentum. In trading yesterday, the price moved back above its 200-hour moving average (green line currently at $70.30).…

Share: GBP/USD trades with significant gains as UK economic data supports expectations of further BoE tightening. US data moderation softens the USD tone, providing an additional boost to GBP/USD. Hawkish remarks from Fed policymakers suggest further tightening may be needed. Upcoming events include the UK’s May inflation data release, the BoE decision, US Fed speakers, housing data, and S&P Global PMIs. GBP/USD trades with solid gains on Friday, set to finish its weekly rise in six months after UK economic data supported additional Bank of England (BoE) tightening. The US Federal Reserve (Fed) keeping rates unchanged was a…

AI imageChina, South Korea, Germany, Malaysia, Singapore, Switzerland and Taiwan remain on the listJapan was removed from the listSwitzerland exceeded just one of three thresholds in four quarters through Dec 2022Reiterates call for increased FX transparency from ChinaA number of countries had shifted to position of selling forex reserves to limit declines against strong dollar in 2022Does not believe China was intervening extensively to exceed net forex purchases thresholdThis report is a charade. If Switzerland wasn’t nailed for openly manipulating for years, no one will be. Source link

Share: The USD/CAD dipped to a multi-month low of 1.3188, last seen in September 2022. Rising Oil prices and risk appetite give traction to CAD. Hawkish Fed speakers limit the pair’s upside potential. On Friday, the USD/CAD continued its downward momentum dropping to a low of 1.3188 and its set to confirm a 150 pips weekly decline. Expectations that the rate peak of the Federal Reserve (Fed) will weaken the US Dollar linger but an upbeat Consumer Confidence Index from the University of Michigan and hawkish Fed speakers limit the downside potential. UoM Confidence data surpassed expectations, hawkish speaker…

Michael M. Santiago After a strong rally that has seen the benchmark S&P 500 (SP500) and the tech-heavy Nasdaq Composite (COMP.IND) post six-day win streaks, Wall Street took a beat on Friday, with the major averages struggling for direction. By afternoon, the Nasdaq was up 0.03% to 13,787.08 points, while the blue-chip Dow (DJI) was higher by 0.21% to 34,481.85 points. The S&P added 0.26% to 4,437.27 points. All 11 S&P sectors were trading in the green, with the exception of Materials. Utilities and Energy topped the leaderboard. The S&P was on track for a fifth straight positive week, having…

Out of our four forex strategy discussions this week, three were arguably very effective with proper risk management as our strategists did a great job of navigating around a busy calendar of top tier events. Jump in to see how it all went down! Forex Setup of the Week: USD/JPY’s Consolidation Ahead Of The FOMC Decision USD/JPY 4-hour Forex Chart by TV On Monday, we spotted a sweet consolidation pattern on USD/JPY, the perfect setup for those expecting a strong directional move in the U.S. around the highly anticipated FOMC monetary policy statement. Expectations were that the Fed would pause…

Share: EUR/USD rally curtailed following the ECB rate hike and hawkish remarks from central bankers. US Consumer Sentiment improves, supporting a stronger USD; Eurozone inflation slows as expected. Hawkish stances by both ECB and Fed officials hint at potential further tightening. Upcoming key events include the German May PPI, the EU’s General Council meeting, and US housing market data. EUR/USD rally stalled in the aftermath of the European Central Bank (ECB) rate hike, trimming some of its previous day’s gains amidst mixed market sentiment. Following the Federal Reserve (Fed) and the ECB’s decisions, central bank speakers are grabbing…

Aurora (AUR) Releases Open-Source Autonomous Driving Dataset Aurora Innovation, Inc. (AUR) today publicly released the Aurora Multi-Sensor Dataset, a large-scale multi-sensor dataset with localization ground truth, in collaboration with the University of Toronto. The dataset contains rich metadata such as semantic segmentation and spans weather patterns during all four seasons, including rain, snow, overcast and sunny days, as well as different times of day, and a variety of traffic conditions. It is between one and two orders of magnitude larger than other publicly available localization datasets and can be used to develop and evaluate large-scale, long-term approaches to autonomous vehicle…

JAPANESE YEN FORECAST:USD/JPY blasts off and flirts with fresh multi-month highs after Bank of Japan’s monetary policy decisionBoJ kept interest rates and its yield curve control program unchanged, signaling little appetite to alter course any time soonThis article looks at key USD/JPY’s levels to watch in the coming days Recommended by Diego Colman Get Your Free JPY Forecast Most Read: EUR/USD Skyrockets After ECB Decision, EUR/JPY Flies to 15-Year HighsUSD/JPY rallied on Friday, surging past the ¥141.50 level and reaching fresh multi-month highs after Bank of Japan retained an ultra-accommodative stance and U.S. Treasury yields resumed their advance heading into…