Author: FX

The Dow has moved into negative territory giving up a 707.24 point gain.The indiex is down -24 points now or -0.07%The S&P was up 110.39 points at the high. The index is now up 14.6 points or 0.37%.The Nasdaq was up 427.9 points. It is currently up only 62 points or 0.56%.Easy come. Easy go. In the forex, the dollar selling has seen some slowing but the declines remain. EURUSD is testing its 38.2% retracement of the run up from the pre-release low at 1.05276. That 38.2% retracement comes in at 1.0617. The low price just reached 1.06184EURUSD corrects to…

Data released on Tuesday showed the US Consumer Price Index slowed to 7.1.% y/y from 7.7%.  Analysts at RBC Capital Markets see the Federal Reserve raising the Fed Funds rate by 50 basis points on Wednesday and the tey pon out the more encouraging inflation signs make a pause in early 2023 more likely. Key Quotes:  “November’s U.S. inflation report brought more green shoots that broader inflation pressures are easing. The headline CPI rate slowed to 7.1% from 7.7% year-over-year in October as price pressure for all major categories slowed.” “Needless to say, despite green shoots in the near-term, price…

SG Blocks buys land to develop multifamily project in Texas Source link

© Reuters. By Peter Nurse Investing.com — Stocks in focus in premarket trade on Tuesday, December 13th. Please refresh for updates. Oracle (NYSE:) stock rose 3% after the software giant better-than-expected revenue in the second quarter, benefiting from strong demand for its cloud software services and the acquisition of electronic medical records firm Cerner. Boeing (NYSE:) stock rose 1.9% after United Airlines (NASDAQ:), down 1%, announced plans to buy 100 Dreamliners, with the option to buy 100 more, to replace its aging wide-body fleet. Tesla (NASDAQ:) stock rose 1.6%, bouncing after slumping over 6% to a two-year low on Monday…

All eyes will be on the FOMC outcome where a 50 bp increase is fully priced in. Hence, attention will be on the dots and what they imply about the rate trajectory, as well as the tone in Chair Powell’s press conference and then the GDP, unemployment rate, and PCE chain price projections for clues on the policy trajectory. Powell already warned that the funds rate forecasts will be revised up. The key is how many and by how much. Upward revisions are anticipated in some of the dots to a 5% handle, as suggested by Powell. We also assume…

In case you’re eager to learn and if you are someone who has the right energy and the will to work hard, then forex trading is definitely worth it, but online trading is not a cash-dispensing machine. If you are afraid of losing, then you may need to rethink getting involved in forex trading. Take part if you feel confident and have a vision, showing how worthy you are to make the most of market opportunities.Mistakes are allowed, we learn from mistakes and become wiser, but greed can drive you to zero! The market is one place where you can…

Uncle Sam’s inflation numbers are up today! Will the release affect the Fed’s plans for tomorrow or nah? Before moving on, ICYMI, yesterday’s watchlist checked out GBP/JPY’s short-term uptrend for pullback opportunities. 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: BOC Gov. Macklem reiterates “greater risk” of under vs. overtightening monetary policy US Justice Dept charges SBF with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering FTX founder Sam Bankman-Fried arrested in…

EUR/USD failed to make a decisive move in either direction and closed the day flat. Economists at ING highlight two key technical levels to watch. 200-Day Moving Average is now at 1.0350 “If we were to pick out two levels, we would say the 1.0600/10610 area is key resistance. A close above that on a soft US CPI release would warn of a lot more pain into year-end and EUR/USD drifting up to 1.0800 and even 1.0950/1.1000.” “On the downside, the 200-Day Moving Average is now at 1.0350 and would be a level any investors trapped long Dollars at higher…

Trading Leveraged Products is risky The USD Index holds under 105.00, currently at 104.80 as the USD consolidates ahead of today’s CPI data. US Stocks rallied on Monday (Dow the strongest +1.58%). Yields rallied over 1.23% with the  10yr closing at and holds today at 3.611%.  Asian markets mixed & European FUTS are also lower as Chinese Covid infections continue to rise. Former FTX CEO Bankman-Fried has been in the Bahamas at the “behest of U.S. prosecutors” a day before he was due to testify to Congress. Reuters also reported that Binance is under investigation…

© Reuters. FILE PHOTO: A White House press aide looks on as U.S. President Joe Biden, isolating following his COVID-19 diagnosis, appears virtually in a meeting with business and labor leaders about the Chips Act — relating to U.S. domestic chip and semiconductor (Reuters) -The United States has spoken with its partners, including Japan and the Netherlands, to tighten chip-related exports to China, Jake Sullivan, the White House national security adviser, said on Monday. The Biden administration aims to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment, in a bid to slow Beijing’s…