Author: FX
Share: The Board of Directors of the Bank of Canada (BoC) announced on Friday the appointment of Rhys R. Mendes as Deputy Governor, effective July 17, 2023. “As Deputy Governor, Mr. Mendes will join the Bank’s Governing Council, which sets the strategic direction of the Bank and is its policy-making body. He will oversee the Bank’s economic and financial research, its analysis of international economic developments, and he will serve as the Bank’s G7 and G20 Deputy”, the BoC said in a statement. The Governing Council makes the final decision regarding monetary policy. Source link
GBP KEY POINTS: Recommended by Zain Vawda Get Your Free GBP Forecast READ MORE: GBP Breaking News: UK Economy Expands 0.1% in Q1 of 2023, GBP/USD BidBoE MEETING AND UK GDP IMPACTThe GBP selloff continued following Thursdays BoE meeting and gathered pace on Friday as GBPUSD slipped below the 1.2500 psychological level, trading at 1.2460 at the time of writing. The selloff in GBPUSD had more to do with the dollar than the GBP evidenced by the gains put in by sterling against the Euro.The Bank of England (BoE) meeting delivered some interesting takeaways, most notably the upgrades to the…
Share: GBP/USD bears move into the 1.2450s that are holding up currently. 1.2480/2500 is eyed to the upside should the bulls take over. GBP/USD is down on the day by some 0.45% and has fallen from a high of 1.2540 to a low of 1.2448 on the day as speculators continue to cut their short GBP positions. However, the pair is running into a potential area of support as the following technical analysis will illustrate: GBP/USD daily chart We have the last leg of the M-formation playing out on Friday. The M-formation is a reversion pattern and at some point,…
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It was a solid week for our strategy discussions, with three out of five target markets behaving relatively close to expectations. This was largely due to expected weakness in Sterling and another round of broad market risk aversion vibes starting on Wednesday. Forex Setup of the Week: Brewing Reversal on GBP/NZD? – May 8, 2023 GBP/NZD 4-Hour Forex Charts by TV We discussed the potential of a round of pound weakness against the Kiwi on Monday, particularly if New Zealand prints a rebound in inflation expectations. We also noted a chart setup that may draw in technical sellers, a head…
Share: Pound Sterling vs US Dollar continues post-BoE decline into Friday. A failure to reach an agreement on the debt-ceiling and lingering US banking fears supports US Dollar haven buying. Technical analysis looking increasingly negative as GBP/USD falls to key make-or-break support. The Pound Sterling (GBP) continues bleeding lower against the US Dollar (USD) on Friday, following weakness triggered by the Bank of England (BoE) monetary policy meeting on the previous day. GBP/USD is now trading in the mid 1.24s after being pressured lower on safe-haven flows into the US Dollar amidst concerns about the US debt-ceiling in the…
Baker Hughes weekly rig count data is out:Oil rigs -2 to 586Gas rigs -16 to 141Total rigs -17 to 731Big fall in gas rigs. Is it an expected demand thing? The price of crude oil is trading near lows at $70, but Natural gas is pushing higher and now trades up over 6% on the day. Having said that, the price of Natural gas closed the year at $4.39. The price reached to $2.06 at the beginning of April. The price is still gown -45.25% on the year. IN 2022, the price high reached $9.97. The current price is trading…
ImmunityBio downgraded to neutral at Piper on bladder cancer candidate Source link
GOLD PRICES OUTLOOK:Gold prices retreat modestly heading into the weekend, undermined by U.S. dollar strength and rising U.S. yieldsDespite the precious metal’s subdued performance this week, the medium-term outlook remains constructiveThis article looks at key technical levels to watch on XAU/USD’s daily chart Recommended by Diego Colman Get Your Free Gold Forecast Most Read: AUD/USD in Tatters after Fake Breakout, NZD/USD Fails to Confirm Double BottomGold was on the back foot on Friday, down about 0.2% to $2010, retreating for the third consecutive session, pressured by a rally in U.S. Treasury rates, coupled with U.S. dollar strength in the FX…
© Reuters. Investing.com — U.S. stocks were wobbling as investors digested data that showed inflation was cooling but sentiment was weaker than expected. At 11:34 ET (15:34 GMT), the was down 80 points or 0.2%, while the was down 0.3% and the was down 0.5%. Both and cooled, according to data released this week. were higher than expected. Consumer sentiment came in much weaker than expected. The University of Michigan’s reading for May came in at 57.7, much lower than the 63 expected and down from 63.5 in April. Futures traders expect that the will pause interest rate increases when…