Author: FX

Share: Mullen stock has lost 22.1% over the past month, 4.7% over past five sessions. New agreement announced with Shoshoni Native American Tribe. Majority-owned Bollinger Motors receives $3 million grant from Michigan. Market awaits August 3 shareholder meeting for further news. Mullen Automotive (MULN) stock is around 5.0% lower on Friday, trading in the $0.1190s. The stock has continued to cycle lower this week as investors wait for the outcome of the electric vehicle (EV) maker’s next shareholder meeting, scheduled for next Thursday, August 3. Mullen CEO David Michery has already stated that shareholders will vote on a reverse…

Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomberg. The Bloomberg report cites anonymous sources who explained that discussions around the matter are ongoing and that the details are not yet finalized. Continue Reading on Coin Telegraph Source link

USD/ZAR PRICE FORECAST: Recommended by Zain Vawda Get Your Free USD Forecast MOST READ: USD/ZAR Rises as SA Reserve Bank (SARB) Pauses After 10 Consecutive HikesThe South African Reserve Banks (SARB) recent pause in the hiking cycle was no doubt met with cheers by many consumers locally, yet the Central Bank and some economists feared further depreciation for the ZAR may be in the offing. Following an initial selloff however, the ZAR has held firm with USDZAR struggling to reclaim the 18.0000 mark.US FOMC AND MONETARY POLICY MOVING FORWARDLooking ahead into next week and USDZAR price action is likely to…

The EURUSD has corrected higher in trading today and the softer-than-expected core PCE data helped to push the price to a new high for the day at 1.1032. That move did extend above a swing area up to 1.10267, but overhead resistance defined by the 50% midpoint of the July trading range AND the falling 100-hour moving average near the same level at 1.10539 may have attracted some sellers. The price correction off of the low also moved within the 38.2% retracement – 50% midpoint of the week’s trading range. Recall from yesterday, the high price stalled against its 200-hour…

PCE REPORT KEY POINTS:June U.S. consumer spending climbs 0.5% m-o-m in June, slightly above forecastsCore PCE rises 0.2% on a monthly basis, bringing the annual rate to 4.1%, one-tenth of a percent below market estimatesThe U.S. dollar retraces some losses after this morning’s data, but remains in negative territory Recommended by Diego Colman Get Your Free USD Forecast Most Read: Fed Hikes Rates After Short Pause, Gold and US Dollar Forge Separate PathsThe U.S. Bureau of Economic Analysis this morning released June income and outlays data. According to the government agency, personal consumption expenditures, which account for approximately 70% of…

Used properly, a trade blog or journal can help you track your behavioral tendencies and their usual outcomes to make the most out of it. Here are some of our suggestions: 1. Balance the negatives and positives It’s common for traders to write about what they did wrong or what they missed especially when writing about a losing trade. But if that’s all that your trading blog entry contains, the odds are you will wind up feeling frustrated when you review your log and read about all the mistakes you’ve made. Instead of focusing solely on the things that you…

Gold, Silver Analysis Recommended by Richard Snow Get Your Free Gold Forecast Dollar Boost Poses a Threat to the Long-Term Uptrend in GoldThe long-term uptrend in gold, signified by the ascending channel came under pressure during the week ending 23 June after registering a break and close below channel support. This was followed up by multiple weeks beneath said support until last week price action unsuccessfully attempted to trade back within the upward sloping range.In the event we close out the week around current levels, it would register a second successive week where a rejection of the channel can be…

Avantor Non-GAAP EPS of $0.28, revenue of $1.74B Source link

Share: Senior Economist Alvin Liew at UOB Group reviews the latest monetary policy meeting by the Federal Reserve (July 26). Key Takeaways As expected, the Fed in its 25-26 Jul 2023 Federal Open Market Committee (FOMC) meeting, unanimously agreed to raise the target range of its Fed Funds Target Rate (FFTR) by 25-bps to 5.25%-5.50%, the highest in 22 years. This was the 11th rate hike in the Fed’s current rate tightening cycle following a brief pause in Jun after having raised rates for ten meetings in a row since Mar 2022. The Fed also voted unanimously to…

EUR/USD and EUR/JPY Forecast – Prices, Charts, and AnalysisStrong economic data gives the greenback a boost – next up Core PCE.BoJ announces Yield Curve Control flexibility. Recommended by Nick Cawley Download our Brand New Q3 Euro Guide Three of the most important global central banks announced their latest monetary policy decisions this week and foreign exchange traders looking for volatility were not disappointed. Two fx-pairs in particular, EUR/USD and EUR/JPY experienced sharp moves in the latter half of the week.Fed Hikes Rates After Short Pause, Gold and US Dollar Forge Separate PathsOn Wednesday the Federal Reserve hiked rates by 25…