Author: FX
Share: Economists at TD Securities discuss Gold (XAU/USD) outlook after the Fed meeting. Gold to average $2,100 in the final three months of the year The yellow metal could well move into the low $1,900 in the not-too-distant future if data remains strong enough to corroborate the Fed’s interest rate forecast and technical supports are breached. Given the world is looking like the Fed will not actually pull the trigger two more times, as suggested by the ‘meaningless’ median dots, our outlook for the yellow metal is positive. Gold could well rally on any data showing inflation pressures…
S&P 500 News and Analysis Recommended by Richard Snow How to Trade FX with Your Stock Trading Strategy Is Extreme Greed Setting in as the Fed Warns of Upside Risks to Inflation?When looking at the VIX index, otherwise known as the fear gauge, market participants expressed more concern ahead of this week’s CPI report than they did ahead of the FOMC rate meeting. The lack of market concern simply added to existing bullish S&P 500 momentum in the wake of the Fed’s decision to hold rates steady for now. Core CPI had proven a challenge for the Fed but Tuesday’s…
assistantua/iStock via Getty Images Argonaut Gold (OTCPK:ARNGF) +3.4% in Thursday’s trading after saying it achieved first gold pour at its Magino mine, the company’s first Canadian operation and located in Dubreuilville, Ontario. Argonaut (OTCPK:ARNGF) said it expects Magino will produce 72K-81K oz of gold in 2023 at cash costs of $850-$950/oz and ~148k oz of gold at cash costs of $868/oz in 2024, the mine’s first full year of production. Process plant ramp-up remains on schedule with commercial production expected in Q3. The company also said it will pursue additional growth opportunities at Magino, with a 12-15 month exploration and…
Sunrise New Energy (EPOW) Granted Five Patents for Technological Breakthroughs in Silicon Anode Manufacturing Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (EPOW), today announced that the China National Intellectual Property Administration (CNIPA) has granted the Company five patents, marking significant advancements in the field of silicon anode manufacturing. These patents reinforce the Company’s commitment to innovation and position it at the forefront of next-generation lithium-ion battery technology. The granted patents include: AJ220008f-1B Sunrise (Guizhou) New Energy Materials Co. 2017111552502: A lithium-ion battery, silicon carbon cathode material used and its preparation method. AJ220018f-1 Sunrise (Guizhou)…
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Share: GBP/USD is looking to reclaim 1.2700 as the Fed-BoE policy divergence looks set to squeeze after Fed’s neutral policy. Fed Powell has confirmed that two more interest rate hikes are appropriate this year. GBP/USD is gathering strength for printing a fresh annual high after climbing above the round-level resistance of 1.2700. The GBP/USD pair has witnessed a halt after a recovery extension to near 1.2670 in the European session. The Cable is expected to resume its upside journey as the policy divergence between the Federal Reserve (Fed) and the Bank of England (BoE) is set to squeeze.…
CRUDE OIL ANALYSIS & TALKING POINTSSlowdown in Chinese data weighs on crude oil.US retail sales to come later today.Further downside is possible after key technical break. Recommended by Warren Venketas Get Your Free Oil Forecast CRUDE OIL FUNDAMENTAL BACKDROPCrude oil remains relatively depressed this Thursday morning after a drop yesterday post-FOMC. The Federal Reserve decided to keep rates on hold; however, central bank guidance was rather hawkish considering the lead up to the announcement was on the bearish side after US CPI and PPI data showed slowing inflationary pressures. The revised dot plot now reflects two further rate hikes for…
The European Central Bank (ECB) is up today! Will the central bank members’ decision extend the euro’s losses against its some of its counterparts? In case you were watching other EUR pairs, you should know that EUR/NZD has been in an observable downtrend since hitting resistance at the 1.7840 levels. The pair is now trading closer to the 1.7450 area after hitting new monthly lows near 1.7400. EUR/NZD 1-hour Forex Chart by TV Can the pair still extend its losses? The 1-hour chart hints that EUR/NZD went back inside its descending channel pattern after a brief trip to the 1.7400…
Japan -0.05%. Japan May trade balance data shows big slump for imports y/y, small jump for exports. China +0.64%. China May Industrial Production +3.5% y/y (expected +3.6%) & Retail Sales +12.7% (+13.6%). China data – May new house prices +0.1% m/m (prior +0.4%). China’s central bank lowered its key medium-term lending rates to 2.65%. Hong Kong +1.60%. Australia +0.19%. Australia (May) Jobs +75.9K (vs. +15K expected) & Unemployment rate 3.6% (vs. 3.7% exp). Australia Consumer Inflation Expectations (June) 5.2% (prior also 5.2%). India -0.23%. In Asia, New Zealand fell into a technical recession after its first-quarter gross domestic product fell…
2/2 © Reuters. FILE PHOTO: A view of the European Central Bank (ECB) headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo 2/2 By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank is all but certain to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open to more hikes, extending its fight against high inflation even as the euro zone economy flags. Growth across the 20 countries that share the euro is at best stagnating and inflation has been moderating for months, courtesy of lower energy prices and…