Author: FX
Article by IG Chief Market Analyst Chris BeauchampDAX, Dow Jones, Nikkei Analysis and ChartsDax surges to new intraday highThe index was given fresh strength by a dovish ECB meeting yesterday. European indices enjoyed a solid session, which may well have given them the strength to move higher over the medium term. It seems the index’s consolidation may have come to an end, and a move into new record-high territory could develop.Sellers will want to see a close back below 16,000 to put the price below Wednesday’s low and also under the 50-day SMA. This could then open the way to…
© Reuters. FILE PHOTO: A night view of the city as seen from Taipei 101 observatory in Taipei, Taiwan, January 17, 2023. REUTERS/Ann Wang/File Photo By Jeanny Kao and Faith Hung TAIPEI (Reuters) -Taiwan’s export-dependent economy returned to growth in the second quarter, helped by resilient domestic consumption, while exports remained weak as a result of flagging demand for the island’s technology products amid global headwinds. Gross domestic product (GDP) expanded by a preliminary 1.45% in the April-June period versus a year earlier, the statistics agency said on Friday, beating the 0.8% growth forecast in a Reuters poll. Quarter-on-quarter, the…
AUD has suffered at the hands of a strengthening US dollar while Australian retail sales shows a slowing economy as rates hamper consumer spending. Source link
The AUDUSD resumes its fall as the US data remains hot. The Fed raised rates by 25 bps as expected and kept the policy statement unchanged. The market was eager to see if the Fed Chair Powell could offer some forward guidance but got disappointed as he just reaffirmed their data dependency. Yesterday, the US Jobless Claims beat expectations across the board by a big margin giving the US Dollar a boost. The RBA, on the other hand, kept its cash rate unchanged with the usual hawkish comments and the promise of doing more if the data suggests so. In…
Share: EUR/USD risks extra losses while below the 1.1070 level, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We did not anticipate the surge in volatility in EUR yesterday. After rising to a high of 1.1143, EUR sold off sharply and plunged to 1.0964. Unsurprisingly, the sharp and swift drop is oversold. However, the weakness has not stabilised just yet. Today, EUR could drop below the major support near 1.0965, but it might not be able to maintain a foothold below this level. The next support at 1.0920…
US Dollar, USD/JPY, Japanese Yen, BoJ, Fed, ECB, AUD/USD, RBA – Talking PointsThe US Dollar resumed strengthening today with volatility ticking higherThe Bank of Japan let the word out early of an adjustment, then deliveredMarkets are now reassessing the path of global central bank tightening Recommended by Daniel McCarthy Get Your Free USD Forecast The US Dollar steadied against most currencies today except for the Japanese Yen. The Bank of Japan (BoJ) cajoled the market toward higher yields in the backend of the Japanese Government Bond (JGB) market.DailyFX Strategist Tetsuya Kimata, based in Tokyo, made these observations.“I think the BOJ…
After turning lower from just under July’s highs, spot gold is finding some buyers. Can the precious metal extend its uptrend against the dollar? Check out what’s up on the 4-hour time frame: Gold (XAU/USD) 4-hour Chart by TV Earlier this week, spot gold (XAU/USD) got rejected from the $1,980 zone that’s not far from the highs we saw last week. XAU/USD is now closer to $1,950, which is right around the S1 ($1,942) of the chart’s Pivot Points and the 100 SMA on the 4-hour time frame. More importantly, XAU/USD seems to be finding support from a trend line…
© Reuters. FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Binance and its CEO Changpeng Zhao have filed a motion to dismiss a complaint filed against the exchange by the U.S. Commodity Futures Trading Commission (FTC), the company said in a court filing on Thursday. The CFTC sued Binance, Zhao and former Chief Compliance Officer Samuel Lim in March alleging that they violated the Commodity Exchange Act and certain related federal regulations, and for operating what the regulator said was an “illegal” exchange and a “sham” compliance program. “The CFTC seeks…
Comments from a morning note from ING, first on the CPI data earlier:unlike other major economies, Japan’s inflation hasn’t yet reached its peakHeadline inflation will continue to go down slowly due to base effects and falling global commodity prices, but core inflation will remain high for a considerable time.And on the Bank of Japan:We expect the BoJ to leave its policy rates unchanged, but we think there is a good chance of a YCC policy change at today’s meeting, which is a non-consensus view – the market believes that October is more likely. If the BoJ seeks to normalize its…
Market Recap Recommended by Jun Rong Yeap Get Your Free Equities Forecast Initial gains in Wall Street took a turn overnight, as a jump in Treasury yields kept the pressure on risk sentiments. Particularly, the 10-year Treasury yields saw a jump of 13 basis-point (bp) to reclaim its key 4% level, while the US two-year yields were up by 8 bp, driven by a confluence of stronger-than-expected US economic data and chatters of a policy adjustment from the Bank of Japan (BoJ).The advance estimate for US 2Q GDP has smashed expectations by a wide margin (2.4% versus 1.8% consensus), notably…