Author: FX
We’ll get the latest U.K. inflation update on Wednesday, which has been an influence on the Bank of England’s monetary policy decisions and the British pound as of late. Check out all of the important data to consider before putting together your latest trade idea! Event in Focus: U.K. Inflation updates: Consumer Prices, Producer Prices When Will it Be Released: May 24, 2023, Wednesday: 6:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: U.K. CPI annual rate: 8.5% y/y forecast vs. 10.1% y/y previousU.K. CPI monthly rate: 1.0% m/m forecast vs.…
© Reuters. FILE PHOTO: Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato By Chris Prentice and Nell Mackenzie NEW YORK/LONDON (Reuters) -Global equities rose on Monday as talks in Washington resumed to avert a U.S. default, and gold prices retreated under pressure from hawkish remarks by Federal Reserve officials. Oil prices finished higher on demand optimism, while U.S. treasury yields rose. House Republican Speaker Kevin McCarthy said Monday morning’s debt talks were “on the right path” ahead of meeting with U.S. President Joe Biden. June 1 remains a…
GOLD PRICES FORECAST:Gold prices retreat on Monday, undercut by higher U.S. Treasury yieldsThe precious metal may reverse higher in the coming days if U.S. lawmakers fail to reach an agreement to raise the debt ceiling soonThis article looks at key XAU/USD’s tech levels to watch this week Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Nasdaq 100 Entrenched in Indisputable Uptrend but Poor Market Breadth Is OminousGold prices (XAU/USD) were subdued at the start of the week on the back of higher rates across most segments of the U.S. Treasury curve. In early afternoon trading, XAU/USD was…
The meetings with the GOP negotiators on debt limit has finished:GOP McHenry says there is still not in agreement on major itemsDoes not think there is any interest in delaying these difficult conversationsIs concerned about getting a deal that can pass the House, the Senate, and be signed by the presidentPres. Biden and House Speaker McCarthy are scheduled to meet at 5:30 PM ET Source link
Share: Oil price opens the week lower on concerns global trade may be impacted by geopolitical wrangling at G7 summit. China provokes the United States by banning US-manufactured micro chips. Oil recovers after US Dollar weakens on continued debt-ceiling uncertainty as talks reopen in Washington. Oil price gaps lower at the start of the week on concerns global growth may suffer, after the world’s leading economies antagonized China at the G7 summit in Hiroshima. World leaders discussed ‘de-risking’, or weaning themselves off an over-reliance on Chinese imports at the summit. Washington and Beijing exchanged harsh words as China…
JAPANESE YEN PRICE, CHARTS AND ANALYSIS:The Yen appears Vulnerable to Further Selling Pressure Following Comments from BoJ Governor Ueda. No More Pivot Hopes?RSI Approaching Overbought Territory for All Three JPY Pairs and Thus a Retracement Cannot be Ruled Out. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Read More: GBP/USD Price Forecast: Markets Appear Cautious as 50-Day MA and 1.2400 Support Level Hold FirmJAPANESE YEN BACKDROPThe Japanese Yen had seen its sustained weakness of late as markets digest comments from the BoJ Governor, inflation data and…
Nayax gets new operations chief Source link
The South African Rand reaches a significant low at R19.52 to the Dollar. South African Rand The Rand rolls into the beginning of the second to last week of May under some severe pressure from the Dollar as it reaches an all-time low of R19.52 to one $1, levels last reached in April 2020. Factors driving this pressure on the Rand can mostly be linked to dollar dynamics when one considers the overall backdrop of the recent rally on the DXY driven by strong economic data in the wake of high interest rates. However, the nuance to note here is…
© Reuters. Pedestrians walk in front of Ghana’s central bank building in Accra, Ghana, November 16, 2015. REUTERS/Francis Kokoroko By Maxwell Akalaare Adombila ACCRA (Reuters) -Ghana’s central bank maintained its main interest rate at 29.5% on Monday, saying tight monetary policy and relative exchange rate stability were helping inflation fall. The cocoa-, gold- and oil-producing West African nation is grappling with its worst economic crisis in a generation. The International Monetary Fund’s executive board last week approved a $3 billion three-year support programme, allowing for an immediate disbursement of about $600 million and a potential path out of the crisis.…
Share: China’s Commerce Minister Wang Wentao hosts a seminar for US firms investing in China on Monday, the Ministry said in its press release. Additional takeaways China’s economic operation has maintained a good trend of recovery and market potential has continued to be released. Will continue to welcome US firms to develop in China. Will continue to provide accurate and efficient service guarantees for foreign-funded enterprises. This comes after the Wall Street Journal (WSJ) reported that China is banning major Chinese firms from buying from Micron Technology, citing its products pose a major national security risk. Market reaction At the…