Author: FX

Prior +2.3%; revised to +1.7%Looking at the details, building construction decreased by 2.4% and civil engineering by 2.3% on the month. And there was also a softer revision to the February number. But the notability of the data is rather immaterial since it pertains to Q1 data. Source link

AUD/USD ANALYSIS & TALKING POINTSUS debt ceiling discussions will lead the way this week.China’s LPR remains steady as growth potential comes into question.Fed speakers in focus for today.AUD/USD consolidates as external factors dictate terms. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar looks to be facing another challenging week after US factors weighed on the pro-growth AUD. Beginning late on Friday, Treasury Secretary Janet Yellen addressed bank CEO’s and stated there may be a need for additional mergers due to the slew of bank failures seen over the last few months. This dampened…

Is bitcoin gearing up for another big move? I’m seeing another tight consolidation pattern forming on the 4-hour time frame of BTC/USD. Better keep these levels on your radar, so you can gauge which direction it might go. Bitcoin (BTC/USD) 1-hour Chart by TV Bitcoin has had trouble busting through the key $30,000 barrier in the past month and has been on the decline ever since. Bears needed a break from the slide, though, leading BTC/USD to form higher lows and lower highs inside a symmetrical triangle pattern. Now price could still go any direction from here, as another strong…

Japan +0.88%. China +0.26%. Hong Kong +1.33%. Australia -0.18%. Stocks on Wall Street fell on Friday as talks on the U.S. debt ceiling were halted by GOP negotiators. S&P 500 recorded its best week since March. The DJIA fell 0.33%, and the Nasdaq was down 0.24%. Spot gold was up 0.1% at $1,978.06 per ounce as of 0347 GMT, while U.S. gold future eased 0.1% to $1,979.40. The dollar index slipped 0.2%, making gold more affordable for overseas buyers. Spot silver fell 0.2% to $23.77 per ounce. Platinum eased 0.1% to $1,061.68. Palladium dipped 0.3%to $1,508.54. Oil prices took a…

© Reuters. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won By Kevin Buckland TOKYO (Reuters) – The dollar extended its decline versus the yen and euro on Monday, following a surprise breakdown in U.S. debt ceiling negotiations and after Federal Reserve Chair Jerome Powell indicated a preference to slow rate hikes. The greenback slipped 0.15% to 137.725 yen to start the week, having snapped a six-day winning streak on Friday, pulling back from a six-month peak. The euro added 0.14% to $1.08205, continuing Friday’s bounce from a…

The RBNZ is widely expected to hike interest rates again this week, so I’m looking at this potential bullish play on NZD/USD. Can the pair sustain its climb after breaking above this reversal pattern’s neckline? Before you check out the setup, make sure you know all of last week’s major market movers as well as this week’s potential market catalysts! NZD/USD 1-hour Forex Chart by TV Kiwi bulls seem excited to price in their expectations for an RBNZ hike, as NZD/USD already busted through its double bottom neckline before the actual event. This chart pattern spans a little over 50…

Media reports are of an unusual spate of sudden cancellations or shutdowns in the past week. The events cancelled range across across arts, business and equality:a convention for female tech entrepreneurs in Shanghaia concert by a Japanese band in Guangzhoua “Folkstival” outdoor concert Beijing LGBT Center announced it was shutting downAdd Bloomberg:Organizers of the scrapped events issued apologies that are thin on detail, citing a variation of “unforeseen circumstances,” when writing in English, or “force majeure,” a legal term to waive liability in the event of circumstances outside a supplier’s control. In the Chinese context, it’s considered a euphemism for…

It’s gonna be another busy week in the forex market, as the economic calendar is filled to the brim with top-tier events. Not only do we have PMI readings from major economies, but we’ve also got the RBNZ statement, FOMC minutes, and U.S. core PCE price index. Phew! Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the economic calendar this week: Global PMI readings The market action is bound to pick up starting on Tuesday, May 23 7:15…

Share: EUR/USD grinds higher around intraday top, extends the previous day’s rebound from two-month low. Clear upside break of 100-DMA, RSI rebound from nearly oversold territory underpin bullish bias for Euro. 12-day-old bearish channel prods Euro bulls before giving them control; 1.0720-15 is the key challenge for bears. EUR/USD bulls keep the reins around the intraday high surrounding 1.0825-30 as buyers cheer the upside break of the 100-DMA during Monday’s Asian session. In doing so, the Euro pair stretches the previous day’s recovery moves from the lowest levels in eight weeks while approaching the top line of a…

vzphotos/iStock Editorial via Getty Images Update 7:50pm: Adds Micron comment. China said it found that Micron Technology’s (NASDAQ:MU) products have “relatively serious” potential network securities issues and warned that operators of critical information infrastructure should stop purchasing the goods. China’s Cyberspace Administration, which announced a review of memor chip maker Micron(MU) in late March, announced its findings on in a statement on Sunday. “The review found that Micron’s products have relatively serious potential network security issues, which pose a major security risk to my country’s critical information infrastructure supply chain and affect my country’s national security,” the Chinese regulator said…