Author: FX
NFP TALKING POINTS AND ANALYSISNFP report could play a major role in manipulating Fed Chair Jerome Powell’s decision at the next interest rate announcement.Jobs data could be leaning towards an NFP beat.DXY trading at key inflection point seeking forward guidance. Recommended by Warren Venketas Get Your Free USD Forecast USD FUNDAMENTAL BACKDROPThis upcoming Non-Farm Payrolls (NFP) report on Friday will hold key information as to the state of the US labor market as well as the upcoming Fed interest rate decision later this month. Currently, money markets are pricing in a 70% chance for a rate hike hold after Fed…
Bet_Noire Major market indexes rose during Thursday’s noon session as the United States House passed a debt-ceiling deal to prevent a default. Tracking individual stocks, C3.ai (NYSE:AI), Macy’s (NYSE:M), Okta (NASDAQ:OKTA) and Dollar General (NYSE:DG) shares plunged on disappointing earnings results and outlook under macroeconomic pressure. Meanwhile, Chewy (NYSE:CHWY) jumped following upbeat Q1 earnings and a revenue guidance boost. In other tech-related news, Meta Platforms (NASDAQ:META) rose after introducing the Quest 3 VR headset, while Alibaba Group (NYSE:BABA) rose after launching its ChatGPT-style technology. Gainers Chewy (CHWY) shares surged more than 24% after the pet supplies e-commerce business outperformed expectations…
Welcome to a brand spankin’ new trading month! As in most months, the RBA will lead the central bank pack in sharing its latest monetary policy decisions. What are markets expecting from RBA’s event and how can the central bank’s decision affect the Aussie’s price trends? Event in Focus: Reserve Bank of Australia (RBA) Monetary Policy Statement When Will it Be Released: June 6, 2023 (Tuesday): 4:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: RBA to keep interest rates on hold at 3.85% RBA’s statement may emphasize that further tightening…
© Reuters. Investing.com — Manufacturing activity in the U.S. shrank at a faster pace in May, as companies dealt with higher interest rates that contributed to a decline in new orders. The (ISM) said its manufacturing purchasing managers’ index came in at 46.9, placing it within the sub-50 territory indicating contraction for the seventh straight month. The reading was down from 47.1 in April and below economists’ estimates of 47.0. A slide in gathered steam, with the ISM’s forward-looking gauge falling to 42.6 from 45.7 in the prior month. Spiking borrowing costs and a recent tightening of bank lending standards…
On the daily chart below, we can see that the Nasdaq has eventually reached the bullish flag target at 13000 and extended a bit into the key 13174 resistance. The price got rejected there as the “sell the fact” trade of the debt ceiling deal started to follow through. We can see that we have a divergence with the MACD right when the Nasdaq is at the key resistance. Will this be the top or we are just seeing a pullback with new highs following thereafter?Given that the debt ceiling risk is out of the way now, we can care…
Share: Economists at Credit Suisse discuss USD/JPY outlook after the pair broke above the 140 level. Verbal intervention alone unlikely to turn the USD/JPY’s upward trajectory As for USD/JPY, spot’s move above 140 finally elicited a response from the authorities. While this led to a reversal in USD/JPY back below 140.00, it is doubtful that verbal intervention of this kind alone is likely to turn the pair’s upward trajectory. If US data further validate Fed hawkishness this week we can see USD/JPY quickly target 145.00, at which point the risks of actual intervention ahead of the next BoJ…
Article written by IG Chief Market Analyst Chris BeauchampDow Jones, CAC 40, Nasdaq 100 Analysis and Charts Recommended by IG Building Confidence in Trading Dow holds above 200-day MAThe index saw a rally off the lows of yesterday’s session, defending the 200-day SMA once again.However, the overall lower from the highs of May has yet to be disrupted, so further upside would be needed to suggest that a low has been created. A move above 33,230 would help to bolster such a view, and might then open the way to a rebound towards the mid-May high at 33,690.A reversal below…
XPENG delivered 7,506 Smart EVs in May, up 6% M/M Source link
© Reuters. NATO Secretary General Jens Stoltenberg arrives at Oslo City Hall during NATO’s informal meeting of foreign ministers in Oslo, Norway June 1, 2023. Hanna Johre/NTB/via REUTERS By Gwladys Fouche and Sabine Siebold OSLO (Reuters) – NATO Secretary-General Jens Stoltenberg said on Thursday he would soon travel to Turkey to discuss Sweden’s NATO membership, in a bid to close a process that has been delayed due to objections from member countries Turkey and Hungary. Speaking during a two-day meeting of NATO foreign ministers in Oslo, Stoltenberg said he had spoken to Tayyip Erdogan earlier this week, who at the…
This forex pair recently fell through its triangle bottom and is now in the middle of a correction. Can AUD/JPY bounce off this resistance zone? A couple of days ago, we were looking at this potential triangle breakout on AUD/JPY, and it looks like sellers came out on top. If you missed this big move and are still AUD bearish, you might have a chance to hop in at a better price around these levels. AUD/JPY 1-hour Forex Chart by TV Applying the Fibonacci retracement tool on the latest wave down shows that the 50% to 61.8% levels are right…