Author: FX
German DAX futures +0.5%UK FTSE futures +0.3%This come amid a bit of a rebound in US stocks late yesterday after the European close. The overall market mood today is rather tentative though, with US futures keeping little changed. Eurozone CPI data will be one to watch later and depending on what we see on core inflation, it could impact regional equities accordingly. Source link
Share: USD/CAD remains pressured at the lowest levels in seven days. US Dollar struggles on cautious optimism, mixed Fed concerns. Upbeat Canada GDP teases Loonie buyers; Oil benefits from sluggish USD, mildly positive sentiment. US/Canada PMIs, US employment clues eyed for clear directions. USD/CAD holds lower ground at the weekly bottom as it extends the previous day’s fall amid a slightly upbeat risk profile and firmer Oil price, not to forget the sluggish US Dollar. That said, the Loonie pair prints mild losses around 1.3565 by the press time of early Thursday morning in Europe. US Dollar Index…
Trend warriors gather ’round! May had been a good month for USD/CHF, which bounced from its .8850 lows to its current levels near .9150. That’s a cool 300 pips in a few weeks! USD/CHF Daily Forex USD/CHF Daily Forex Chart by TV What makes the setup interesting today is that USD/CHF is knocking at the 50% Fibonacci retracement of March and April’s downswing. Not only is the 50% Fib near the daily chart’s 100 SMA resistance, it’s also not too far from a descending channel ceiling that hasn’t been broken since November last year! Are we looking at a potential…
Gold, XAU/USD, Treasury Yields, US Dollar, Debt Ceiling, Fed, China PMI – Talking PointsThe gold price has reasserted itself as the US Dollar faces challengesTreasury yields have given up some of their gains this week as Fed moves into focusIf the debt deal passes through Congress, will XAU/USD rally further? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The gold price has found firmer footing this week with the US Dollar pausing in its recent bull run and Treasury yields easing after a push higher into…
DNY59 The U.S. House voted Wednesday night to easily pass its debt-ceiling relief deal — a dramatic move to keep a limit increase on track as the Treasury heads toward a Tuesday deadline, after which the government won’t have ready funding to pay its bills. The vote total was 314 for, 117 against. Republicans voted for the bill by a 149-71 margin, while Democrats approved with a 165-46 vote. After emerging from committee Tuesday and procedural votes earlier Wednesday, the debt-ceiling bill was the subject of closely watched comments from representatives on both sides of the aisle — and plenty…
© Reuters. FILE PHOTO: A factory is seen in Incheon, South Korea, May 30, 2016. REUTERS/Kim Hong-Ji/File Photo SEOUL (Reuters) – South Korea’s factory activity shrank for an 11th consecutive month in May, slumping into its longest downtrend in 14 years, a survey showed on Thursday, as a slowing global economy hit output and orders and ratcheted up pressure on manufacturers. The S&P Global (NYSE:)’s seasonally adjusted purchasing managers’ index (PMI) for South Korean manufacturers stood at 48.4 last month, slightly up from 48.1 in April. It has remained below the 50-mark that separates expansion from contraction since July 2022,…
The Wall Street Journal’s Nick Timiraos writes:Federal Reserve officials signalled they are increasingly likely to hold interest rates steady at their June meeting before preparing to raise them again later this summer. Investors in recent days had expected the Fed would lift rates at its meeting June 13-14, prompting two policy makers Wednesday to publicly underscore their preference to forgo a hike, barring a sizzling jobs report on Friday. The strategy would give officials more time to study the economic effects of the Fed’s 10 consecutive prior rate rises, as well as recent banking stress, by spacing out further increases.Here…
Share: USD/CAD bears are in the market which leaves prospects of a correction on the cards. Support is playing its role and there is a focus on the Fibo scale. The Canadian Dollar strengthened on the back of data showing the domestic economy grew stronger than expected in the first quarter. USD/CAD is now breaking important structures as the following will illustrate. Meanwhile, Canada’s economy expanded at an annualized rate of 3.1% in the first quarter, eclipsing forecasts for an increase of 2.5%, and likely accelerated further in April. USD/CAD H4 chart The price is sinking below prior support…
Edge Total Intelligence reports Q1 results Source link
EUR/USD ANALYSIS:EUR/USD plunges on Wednesday, reaching its lowest level since March 17Softer-than-expected inflation data in several countries in Europe, together with broad-based U.S. dollar strength, weigh on the common currencyThis article looks at key EURUSD’s technical levels to watch in the coming days Recommended by Diego Colman Get Your Free EUR Forecast Most Read: Gold Prices Recover After Support Rejection ahead of US Jobs Data. What Now?The euro plummeted against the U.S. dollar on Wednesday as weaker-than-expected inflation data in several European Union countries pointed to a rapid downshift in price pressures in the region, reducing the need for the…