Author: FX

The major US stock indices are trading mixed/little changed at the open.For the S&P index, it’s 200 day moving average comes in at 4032.31. Getting back above the moving average and stay above the moving average would be more bullish from a technical perspective.S&P index testing its 200 day moving averageYesterday the major indices rose but were well off their high levels for the day at the close. Source link

The sell-off in the US Dollar in recent weeks has lifted EUR/USD completely clear of parity. Looking ahead to the New Year, however, there are plenty of factors that could still unnerve EUR bulls, economists at Rabobank report. Out of the woods?  “The ECB has a specific challenge given the different debt profiles within member nations and the possibility of spread widening vs. Bunds, particularly in the BTP market, once QT starts. This could trigger risk aversion and weigh on the EUR.” “Insofar as the current account surplus of the Eurozone has been eroded by expensive energy imports, the EUR is…

At least once in your trading career, you’ve probably felt the need to take more trades even though you’ve already incurred more than your usual daily losses. In such instances, you often think to yourself that with more trades you will be able to offset your losses for the day. But what if they end up being losers? Then, my friend, you set yourself up for more pain and dug yourself a deeper hole to climb out of. Proper risk management crucial if you don’t want to lose your shirt, and it’s particularly important for day traders who make many…

Nutriband approved for dual listing on Upstream Source link

3/3 © Reuters. FILE PHOTO: Somali displaced mother Binti Moalim Hassan lays beside her malnourished 3-year-old daughter Faduma in a hospital in Mogadishu, Somalia October 25, 2022. REUTERS/Feisal Omar 2/3 By Joe Bavier, Abdi Sheikh, Aditi Bhandari and Michael Ovaska MOGADISHU (Reuters) – In October, Nadifa Abdi Isak brought her malnourished daughters to hospital in Mogadishu. That day, a nurse said, 42 other children had already been checked into the emergency unit, ravaged by hunger. There were 57 the day before that. Staff at the Benadir maternity and paediatric hospital said admissions of malnourished children have more than doubled their…

Like the ECB, the BoE seems increasingly spooked by the risk of second round effects, against the background of a labor market that is tighter than the central bank factored in. The workforce has failed to expand in line with the easing of virus restrictions, and Brexit is partly to blame. Against this background, companies are forced to offer higher wages to attract and retain staff. Data from the REC (Recruitment and Employment Confederation) said its measures of demand for permanent staff declined for a second month, suggesting that upward pressure has peaked. UK CPI inflation decelerated more than anticipated.…

It’s FOMC day, fellas! Will they pivot and how might the dollar react? Here’s a setup I’m watching on NZD/USD. Before moving on, ICYMI, yesterday’s watchlist checked out USD/JPY’s ascending triangle pattern ahead of the U.S. CPI release. Be sure to check out if it’s still a valid play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: U.S. headline CPI slowed from 7.7% to 7.1% y/y in Nov Japanese Oct core machinery orders recovered by 5.4% m/m after previous 4.6% slump Japanese Tankan manufacturing index down from 8…

Sees German GDP shrinking over winter before picking up againSees 2022 GDP growth at +1.8% (previously +1.6%)Sees 2023 GDP growth at -0.1% (previously -0.3%)Sees 2024 GDP growth at +1.6%The revisions to the growth projections are an uptick to their previous forecasts during the autumn. Meanwhile, the institute sees inflation at 7.8% this year, 6.4% next year, and 2.8% in 2024.ADVERTISEMENT – CONTINUE READING BELOW Source link

Markets are prepared for another 50 bp hike from both the ECB and BoE, as central banks move their focus from headline inflation rates to underlying inflation pressures and wage growth. A 75-basis point hike from Lagarde cannot be ruled out, but the hawks will likely be placated with a commitment to end the re-investment of maturing assets next year. The start of QT may in fact be more of a problem for governments that are facing rising refinancing costs than the rise in official rates, and the ECB will have to keep a close eye on spreads next year.…

The US Dollar suffered heavy losses on Tuesday after Consume Price Index (CPI) figures continued to soften in November. Economists at Commerzbank expect the greenback to extend its downtrend if inflation continues to fall in the US over the coming month. Hawkish comments unlikely to fuel the USD  “It would make sense that the Fed chair not only announces less rapid rate hikes but increasingly talks about the Fed’s rate hike cycle coming to an end soon. He might not want that, as a premature end of the fight against inflation might be a more severe one than a delayed…