Author: FX
kodda/iStock via Getty Images West Virginia’s Attorney General filed a brief Monday asking the U.S. Supreme Court to set aside last week’s court ruling that blocked construction of the Mountain Valley Pipeline in spite of a Congressional order clearing the way for the project. AG Patrick Morrisey argued the U.S. Fourth Circuit Court of Appeals lacked jurisdiction to block the pipeline after Congress passed legislation ordering all necessary permits be issued for the project. Environmentalists have said Congress overstepped its authority by enacting the law, saying it violates the separation of powers outlined in the Constitution. The pipeline’s operators said…
Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” Two major crypto lobbying groups slammed the legislation: Coin Center and the Blockchain Association. The former released separate statements describing the legislation as a “messy,” “unworkable” and “unconstitutional” way of regulating DeFi. Kristin…
EURUSD trades to a new session low.The EURUSD is trading to a new set as low as the day comes toward a close. In the process, the price has dipped below the swing area between 1.1062 and 1.1075 bread see red numbered circles on the chart above. The next target on the downside comes against the rising 100 bar moving average on the 4-hour chart and 50% midpoint of the move up from the July 6 low. Both of those levels come in near 1.10539. A break below each of those levels would open the door for further downside momentum.Conversely,…
The Fed is expected to drop the first of its last two interest rate hikes this year! How could the dollar react to a rate hike without updated economic projections? Here are major points you need to know if you’re planning on trading the event: Event in Focus: Federal Open Market Committee (FOMC) Monetary Policy Statement When Will it Be Released: July 26, Wednesday: 6:00 pm GMT Fed Chairman Powell will conduct a presser 30 minutes later. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Fed is expected to raise its interest rates…
EURO FORECAST:The Fed is expected to raise rates by 25 basis points on WednesdayThe ECB will unveil its monetary policy announcement on Thursday, followed by the Bank of Japan on FridayThis article looks at EUR/USD and EUR/JPY’s key tech levels to watch over the coming trading sessions Recommended by Diego Colman Get Your Free EUR Forecast Most Read: Japanese Yen Forecast – USD/JPY Fumbles Ahead of Fed and Bank of Japan DecisionThree of the world’s most important central banks will announce their monetary policy decisions this week. The Federal Reserve will be the first to do so on Wednesday, followed…
Will the Reserve Bank of Australia carry on with its tightening moves? The upcoming Australian CPI release is probably the place to look to determine what the central bank’s next moves may be. Here are points to know if you’re planning on trading Australia’s inflation data: Event in Focus: Australia Consumer Price Index (CPI) and inflation data for June 2023 When Will it Be Released: July 26, 2023 (Wednesday), 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Headline CPI y/y: +5.5 % forecast vs. +5.6% previous Trimmed mean CPI q/q:…
Share: The Mexican Peso gains momentum after Mexico’s mid-month July CPI outperforms estimates, increasing by 4.79% YoY. S&P Global data suggests US manufacturing activity rebound, softening the impact of the service sector’s PMI decline. Future trajectory of USD/MXN hinges on the upcoming Fed’s policy meeting, with potential hawkish remarks threatening to push it beyond the 17.00 mark. USD/MXN erased last Friday’s gains amid a data dump from the United States (US) and Mexico, bolstering the emerging market currency as the Mexican Peso (MXN) advances on an inflation report. At the time of writing, the USD/MXN is trading at…
S&P 500, Nasdaq Analysis Recommended by Richard Snow See what our analysts foresee in Q3 for equities S&P 500 Poised to Test Long-Term Resistance on Big Tech EarningsThe S&P 500 continues its impressive uptrend, trading largely within the ascending channel. In recent weeks, prices have accelerated within the broader uptrend, testing the upper bound of the channel once more before pulling back at the end of last week. Once again this zone comes into focus – the zone of confluence between 4550 and the 78.6% Fibonacci retracement of the 2022 selloff (4589. In fact, this zone now appears as support…
PulteGroup Q2 2023 Earnings Preview Source link
© Reuters. FILE PHOTO: Logo of U.S. truckmaker Nikola is pictured at the IAA Transportation fair in Hanover, Germany, September 19, 2022. REUTERS/Fabian Bimmer/File Photo (Reuters) – An electric truck which was previously damaged reignited at Nikola’s Phoenix, Arizona headquarters on Sunday afternoon but there were no injuries, the company said in a statement. Shares of the company fell 11.8% in early trading on Monday. “At approximately 2 pm today at Nikola HQ, one of the trucks that was previously damaged reignited. No one was injured and the fire was quickly contained,” the company said. The damaged trucks were kept…