Author: FX
Remarks by ECB president, Christine Lagarde Justin Low Wednesday, 10/05/2023 | 09:08 GMT-0 10/05/2023 | 09:08 GMT-0 She’s not giving much away and just reaffirms the narrative that more rate hikes are coming. We can very well expect two more 25 bps rate hikes to follow perhaps but a move to 4% may be a stretch too far – for now at least. ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link
I’m seeing a steady uptrend on the short-term time frame of NZD/USD! Will the U.S. April CPI release shake things up a bit? As you can see from the chart below, the pair is already hanging out at the very bottom of its ascending channel, probably considering a break lower. If that happens, NZD/USD might be in for a quick reversal, so better keep your eyes on these levels. NZD/USD 15-min Forex Chart by TV Support around the .6350 minor psychological mark, which is near the dynamic inflection points at the moving averages, is currently being tested. A break below…
ICL Group GAAP EPS of $0.23, revenue of $2.1B; reaffirms FY23 guidance Source link
Share: As long as AUD/USD trades above the 0.6700 level, another surpass of the 0.6800 barrier should remain on the cards, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that ‘upward momentum has waned and this combined with the still overbought conditions suggests AUD is unlikely to advance much further’ and we expected AUD to ‘trade sideways between 0.6755 and 0.6805’. Our view of sideways trading was not wrong even though AUD traded in a lower range than expected (0.6747/0.6787). The price actions offer no…
2/2 © Reuters. FILE PHOTO: The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China, April 19, 2021. REUTERS/Aly Song/File Photo 2/2 TOKYO (Reuters) – Toyota Motor (NYSE:) Corp on Wednesday posted a 35% jump in fourth-quarter operating profit to 626.9 billion yen ($4.64 billion), with results boosted by the yen’s weakness and efforts to improve its profit structure. ($1 = 135.0500 yen) Source link
EUR/USD is in a textbook range pattern! Will the range hold for another day? Or will we see a breakout in the next trading sessions? EUR/USD 1-hour Forex Chart by TV If you squish your 1-hour charts a bit, you’ll know that EUR/USD has come a long way from its 1.0530 lows in March. But the pair has paused its uptrend and now it’s trading between the 1.0940 support and 1.1075 resistance zones. What makes the pair interesting today is that it has just bounced from the range support and it looks like it’s on its way to the 1.1000…
US Dollar, DXY Index, USD, US CPI, Fed, China, Crude Oil, Gold – Talking PointsThe US Dollar took a step back today with all eyes on US CPI laterEquity markets are also a touch fragile and are poised ahead of the dataIf the inflation outcome is outside expectations, will the DXY Index break out? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The US dollar drifted lower on Wednesday ahead of crucial US CPI data that may provide the impetus for the market to reposition exposure.…
Thinking of staying away from the U.S. dollar today? How about a short-term opportunity ahead of Bank of England’s (BOE) policy decision? This week’s catalysts could offer a better chance to enter GBP/AUD’s longer-term trend! GBP/AUD 1-Hour Forex Charts by TV As you can see, GBP/AUD has been trading inside an observable ascending channel since mid-March. Heck, the pair has been in an uptrend since early February when it found support from the 1.7300 handle! One possible reason is that the U.K.’s record-breaking inflation rates will mean more work for the BOE compared to its peers. On the other hand,…
This is an encouraging sign for the global economy. From the report:The start of the second quarter saw a further acceleration in the rate of global economic expansion. Growth of output and new orders hit their highest levels since December 2021 and March 2022 respectively, as job creation and business optimism also strengthened. The upturn in output was again heavily skewed towards the service sector, as conditions remained sluggish in manufacturing. The J.P.Morgan Global Composite Output Index – produced by J.P.Morgan and S&P Global in association with ISM and IFPSM – rose to 54.2 in April, up from 53.4 in…
Share: USD/CAD has sensed selling pressure after a recovery move to near 1.3400 as oil prices eye more upside. US President Joe Biden is interested in a separate discussion for the budget. If US inflation remains persistent, the Fed would start preparing for hiking interest rates further. The USD/CAD pair has sensed selling pressures after a rebound to near the round-level resistance of 1.3400 in the Asian session. The Loonie asset has faced selling interest as the US Dollar Index (DXY) has extended its correction further to 101.55 after US debt ceiling negotiations failed a decisive outcome. S&P500…