Author: FX
Australian Dollar, China CPI, PPI, AUD/USD, US Dollar, Fed, PBOC, CGB – Talking PointsThe Australian Dollar remains near the top end of the range as it bumps resistanceChinese inflation has eased of late and the PBOC might be poised for actionThe US Dollar had been sliding after weak CPI there. Will AUD/USD make new highs? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Australian Dollar briefly bumped up a touch after Chinese CPI came in at 0.1% year-over-year to the end of April against the…
Reuters reporting on new economic forecasts published by the UK’s National Institute of Economic and Social Research (NIESR): estimated annual consumer price inflation will be 5.4% in the final quarter of 2023 – well above forecasts from the Bank of England of 3.9%NIESR projected full-year consumer price inflation would be 7.4% in 2023 and 3.9% in 2024NIESR expects the BoE to raise its key interest rate later on Thursday to 4.5% from 4.25%, in what would be its 12th consecutive rate increaseBoE is unlikely to bring inflation back to its 2% target until late 2025, NIESR predicts—Earlier:— Source link
Share: Gold price rallies on US CPI and soft US dollar, but bears are lurking. Gold price is eating into the support structure on the backside of the counter-trendline. Gold price rallied towards new all-time highs with there not being any surprise in the US Consumer Price Index. XAU/USD traveled from a low of $2,025 and reached a high of $2,048 on the day. The US Dollar ended the day lower amid lower US yields. The US Dollar Index (DXY), which measures the greenback vs. a basket of currencies, including the Aussie, ended around 101.40, as it remains above the key support of…
hapabapa Shares of Y-mAbs Therapeutics (NASDAQ:YMAB) rose ~9% on Wednesday after Wedbush upgraded the cancer drugmaker following its Q1 2023 results, citing the sales of its neuroblastoma therapy Danyelza and the updates from its SADA program. Raising his recommendation to Outperform from Neutral, the analyst David Nierengarten sees Danyelza returning to growth as its sales for Q1 2023 stood at $20.3M, indicating a 93% and 24% rise sequentially and year-over-year, respectively, ahead of the firm’s forecast. Nierengarten also highlights Y-mAbs’ attempts to advance Danyelza towards additional indications, including osteosarcoma, and for newly diagnosed neuroblastoma with induction chemotherapy. Citing the second…
GOLD PRICES FORECAST:Gold prices retreat and gives up early session gains induced by the April U.S. inflation reportU.S. Treasury yields move lower, but fail to boost precious metals on a sustained basisThis article looks at key tech levels to watch on XAU/USD over the coming days Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Nasdaq 100 on Verge of Bullish Breakout, USD/JPY Crushed by Slowing US InflationGold was on a wild ride on Wednesday. In early morning trading, the precious metal managed to rally nearly 0.85% after softer-than-expected U.S. CPI data sparked a steep pullback in U.S.…
© Reuters. People stand near the site where two Palestinian Islamic Jihad gunmen were killed in an Israeli raid in Qabatiya, near Jenin, in the Israeli-occupied West Bank May 10, 2023. REUTERS/ Raneen Sawafta By Nidal al-Mughrabi and Maayan Lubell GAZA/JERUSALEM (Reuters) – Egypt began mediating an end to two days of cross-border fighting in Gaza on Wednesday that saw Israel’s air force hit Islamic Jihad targets and Palestinian militants in the enclave launch salvoes of rockets across the border as far as Tel Aviv. The second round of cross-border fire in a week came after Israel launched strikes on…
White House:Debt limit talks were productiveEveryone understood risk of defaultStaff will meet daily on debt until leaders meet again on FridaySpeaker the House McCarthy (where the deal will be made with the White House) characterized the meeting yesterday as not making any progress. Politics. Source link
Share: EUR/GBP is already below key support from its lows for the year and 200-Day Moving Average (DMA) to suggest a top is already in place here, analysts at Credit Suisse report. Resistance at 0.8770 set to cap “EUR/GBP has broken key support from the series of lows for the year at 0.8729/18 as well as its 200-DMA to mark a top. We look for this to act as the catalyst for a more concerted downturn with support seen initially at 0.8648/40 ahead of the uptrend from early 2022, now at 0.8603. Whilst we would look for this…
Krispy Kreme declares $0.035 dividend Source link
The US dollar weakened after US CPI showed yet another gradual decline in inflationary pressures. Source link