Author: FX
Goldman Sachs expectations for the European Central Bank (ECB) at this week’s meeting on Thursday. This summary is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Highlights: 1. 2513p Hikes Expected: Market anticipations strongly lean towards a 25 basis point (bp) rate hike from both the Federal Reserve and the ECB, suggesting that these potential moves are already priced into market valuations. 2. ECB’s Patterned Stance: The firm notes a discernible…
400tmax/iStock Unreleased via Getty Images Alphabet stock remained higher after hours — (NASDAQ:GOOG) +6.1%, (NASDAQ:GOOGL) +6.5% — following an earnings conference call that took a lap celebrating stronger results while squarely focusing on the company’s No. 1 innovation priority. CEO Sundar Pichai set the tone for the call by devoting the bulk of his commentary to artificial intelligence, arguably the biggest existential challenge for Alphabet to take on. “This is our seventh year as an AI-first company, and we intuitively know how to incorporate AI into our products,” Pichai said. Large language models like PaLM2 and the upcoming Gemini are…
Share: NZD/USD bulls take a breather after two-day winning streak. US Dollar fails to cheer upbeat CB Consumer Confidence, housing data and firmer yields as markets brace for Fed. Hopes of witnessing more stimulus from China, nearness to policy pivot at major central banks bolster market sentiment of late. No major data at home, required Kiwi traders to watch Aussie Inflation, risk catalysts for probable signals. NZD/USD remains on the front foot around 0.6220 despite the latest pre-Fed inaction amid early Wednesday morning in Asia. That said, the Kiwi pair rose in the last two consecutive days amid…
Premier Financial GAAP EPS of $1.35 beats by $0.61, revenue of $107.34M beats by $37.44M Source link
JULY FOMC MEETING KEY POINTS:The Fed is expected to raise interest rates by 25 basis points to 5.25%-5.50%With a quarter-point hike fully priced in, attention should be on the tightening roadmapPowell is likely to offer guidance on the polity outlook during his press conference Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Canadian Dollar Forecast – USD/CAD in Consolidation Triangle Ahead of Fed DecisionThe Federal Reserve will conclude its July monetary policy meeting on Wednesday afternoon. Wall Street expects the FOMC to resume its hiking campaign after a one-month hiatus, raising its benchmark rate by 25 basis…
© Reuters. FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S. February 11, 2019. REUTERS/Nick Oxford//File Photo By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose to three-month highs on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world’s second-biggest economy lifted sentiment. futures settled up 90 cents at $83.64 a barrel, after hitting $83.87 earlier, the highest since April 19. U.S. West Texas Intermediate (WTI) crude rose 89 cents to $79.63. The contract earlier rose to $79.90 a barrel, the highest since April 19. The crude benchmarks have already clinched…
The Fed isn’t the only major central bank expected to raise interest rates this week! How likely is an ECB rate hike and how may EUR react to the event? Here are points you need to know if you’re planning on trading the ECB decision: Event in Focus: European Central Bank (ECB) Monetary Policy Statement When Will it Be Released: July 27, Thursday: 12:15 pm GMT ECB President Lagarde will conduct a presser 30 minutes later. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: ECB is highly likely to raise its refinancing rates…
The USDJPY is pushing to the downside over the last few hours of trading making new session lows in the process. Technically, the price has moved below the 50% midpoint of the move down from the June 30 high. That level comes in at 141.149. The low price just reached 140.845.Technically if the price stays below the 50% retracement level, the short-term bias is more to the downside. However, there is work to do. More specifically getting below the rising 100-hour moving average at 140.747 would be the next target to get to and through that would increase the bearish…
Share: Despite a recovery of 0.78% from its year-to-date (YTD) low of 1.3092, the USD/CAD remains below the intermediate resistance level of 1.3243. USD/CAD’s first resistance would emerge at the 50-day EMA at 1.3293, on its way toward 1.3400. The pair key support levels lie at 1.3146, and YTD low at 1.3092. USD/CAD recovers some ground during the North American session, up 0.20% but is struggling to break above solid resistance levels, impeding the pair from conquering the 1.3200 figure. The USD/CAD is trading at 1.3192 after hitting a daily low of 1.3146. USD/CAD Price Analysis: Technical outlook…
RAND ANALYSIS & TALKING POINTSRisk sentiment improves on China stimulus pledge.Fed likely to hike but where to next?ZAR bulls look to expose R17.50/$. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR FUNDAMENTAL BACKDROPThe South African rand broke yet another key support level today as it sets its sights on the R17.50/$ handle. Buoyed by Chinese optimism after the global superpower pledged to provide stimulus for the flailing economy, bolstering the traditional positive relationship it maintains with the ZAR. That being said, attention now shifts towards…