Author: FX
Dow industrial average is 4 consecutive days The US stock indices are set to open marginally higher. The Dow is down four consecutive daysThe Dow industrial average futures are implying a gain of 113 points. The S&P futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery…
A good number of forex newbies I’ve talked to have shared that they’d prefer day trading or scalping when trading currencies. And why not? Taking quick and multiple setups a day could increase the chance of winning more trades. Trading for short periods also means that you’ll make money AND have time for other pursuits like sports, hobbies, and a SOCIAL LIFE… right? Hate to burst your bubble, but forex trading doesn’t work that way. Taking more trades doesn’t necessarily translate to more profits. As in archery, you don’t get points for drawing the most arrows. You get them whenever an…
US Dollar (DXY) AnalysisUS dollar basket turns at significant long-term level after yesterday’s surgeDXY tests channel resistance as we head into the weekend with the debt ceiling issue still unresolvedThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow See what our analysts think of USD in Q2 DXY Turns at Major Long-Term SupportIf we are to close the week in positive territory, yesterday’s sizeable dollar surge will have done much of the heavy lifting. The weekly chart below shows the importance…
jetcityimage/iStock Editorial via Getty Images Walgreens Boots Alliance (NASDAQ:WBA) said it sold common shares of AmerisourceBergen (NYSE:ABC) for proceeds of ~$644M. In addition, and subject to the closing of the stock sale — carried out pursuant to variable prepaid forward transactions executed in reliance on Rule 144 of the Securities Act of 1933, as amended — AmerisourceBergen agreed to buy back its common stock from Walgreens for ~$50M. Walgreens noted that its ownership of AmerisourceBergen’s common stock has decreased due to the concurrent share buyback by ABC but remains at ~17%. The entry into the variable prepaid forward contracts provides…
Share: During his visit to Beijing on Friday, Australian Trade Minister Don Farrell said that he “can see the benefits for Australian and Chinese businesses and consumers that continue to flow from the China-Australia free trade agreement.” “We still have some way to go to establish usual trade across the board,” Farrell said. Market reaction AUD/USD is a little impressed by the above comments, staying on the back foot just beneath 0.6700, as of writing. Source link
UK GDP Q1 ’23 (PRELIM) KEY POINTS: Recommended by Zain Vawda Get Your Free GBP Forecast READ MORE: Bank of England Hikes Rates by 25 Basis Points to 4.5%, Sterling Nudges HigherUK GDP first quarterly estimates of UK real gross domestic product (GDP) shows that the economy increased by 0.1% in Quarter 1 (Jan to Mar) 2023 while the monthly estimates show that GDP fell by 0.3% in March 2023, following an increase of 0.5% in January 2023.Customize and filter live economic data via our DailyFX economic calendarThe services sector grew in Q1 thanks to information and communication 1.2%, and…
The audit was performed by the European Court of Auditors (ECA) and highlighted quite a number of shortcomings with the ECB’s supervision and management. Here’s a list of that:ECB supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performersECB is inconsistent in applying rules and exercises leniency towards the highest-risk lenders while not always having adequate supervisory staffECB also takes too long in issuing final capital requirement decisions, leading to related risks being not managed in a timely mannerAlthough the recommendations and audit findings are non-binding, these are potential…
Looking for commodity setups to trade? I gotchu! Take a look at gold prices hanging out near a key trend support zone: Gold (XAU/USD) 4-hour Chart by TV If you’ve been watching gold prices for a while, then you’ll know that spot gold has been killing the U.S. dollar since mid-March when XAU/USD took off from the $1,810 levels. In fact, XAU/USD has been trading inside an observable ascending channel since late March. Can gold bugs keep the party going in the next few days? XAU/USD is approaching the $2,000 psychological handle that lines up with the 4-hour chart’s 100…
Wondering why this month’s FOMC statement was a huge deal? Here’s a quick rundown of what policymakers announced and what it means for the U.S. dollar, as well as the rest of the financial markets. As you’ve probably heard, Fed head Jerome Powell and his fellow FOMC members agreed to hike interest rates by 0.25% as expected. Their official statement and presser, however, had some hints about a shift in monetary policy bias. Event in Focus: Federal Open Market Committee (FOMC) Monetary Policy Statement on May 3, 2023 Expectations: Our Expectations Fed to raise its interest rates by 25 basis…
Share: GBP/USD Price Analysis: Cable bears need validation from 1.2500 and UK GDP to keep the reins GBP/USD seesaws around 1.2515 during early Friday morning in Asia, after posting the biggest daily fall since March 07. In doing so, the Cable pair justifies the downside break of a two-month-old ascending trend line, as well as bearish MACD signals. However, an upward-sloping trend line from late March, around 1.2500 round figure by the press time, joins the oversold RSI (14) line suggesting a corrective bounce in the GBP/USD price. Read more… GBP/USD licks BoE-inflicted wounds below 1.2540 hurdle ahead…