Author: FX
© Reuters. FILE PHOTO: Cars drive on the road during the morning rush hour in Beijing, China, July 2, 2019. REUTERS/Jason Lee/File Photo BEIJING/SHANGHAI (Reuters) – China’s passenger vehicle sales rose by 2.1% in April from a month earlier, industry data showed, underscoring a slower pace of growth as the stimulus effect of price cuts and incentives faded. Car sales in April totalled 1.65 million units, 54.5% higher from a year earlier when COVID-19 lockdowns disrupted productions and sales, the China Passenger Car Association (CPCA) said on Tuesday. In the first four months of 2023, vehicle sales were down 1.4%…
The U.S. dollar index is testing the top of a short-term range ahead of the U.S. CPI release! Will the Greenback stick to its range? Or will we see a breakout today? Before moving on, ICYMI, yesterday’s watchlist checked out AUD/JPY’s short-term resistance levels after a risk-friendly trading day. Be sure to check out if it’s still a good play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: Fed’s quarterly Senior Loan Officer Opinion survey noted the respondents’ expectations of tighter credit conditions, lower customer demand, and a…
FULL STORYOil prices fell on Tuesday, relinquishing some of the strong gains of the previous two sessions with the market cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve’s next interest rate decision.Both contracts had settled up more than 2% in the previous trading session.Supporting oil prices, the Canadian province of Alberta declared a state of emergency over the weekend in response to wildfires that have displaced nearly 30,000 people and prompted energy producers to shut in at least 280,000 barrels of oil equivalent per day, more than 3% of Canada’s output. Source…
The yen is kicking pip butts today! Forex price action has been relatively muted in the last trading sessions as traders wait for closely watched reports like the U.S. CPI and BOE’s policy decision. The Canadian dollar has lost some pips, however, thanks to a bit of profit-taking and crude oil slipping again. Meanwhile, the Japanese yen is gaining ground after BOJ Governor Ueda shared that he plans to scrap the central bank’s Yield Curve Control (YCC) program as soon as the members see sustained signs of inflation hitting their targets. CAD/JPY 15-min Forex Chart by TV CAD/JPY is trading…
Share: The index adds to Monday’s gains and approaches 101.50. Fed’s report warned that an economic slowdown is not ruled out. NFIB Index, IBD/TIPP Index, Fedspeak next on tap in the docket. The greenback, in terms of the USD Index (DXY), extends the optimism seen at the beginning of the week and revisits the 101.50 region on Tuesday. USD Index looks bid ahead of US CPI The index keeps the upbeat mood well in place in the first half of the week and hovers around the mid-101.00s ahead of the opening bell in the old continent on turnaround…
AUD/CHF might be done with its slide, as the pair is forming a double bottom that looks ready to play out. Do you think we’ll see a big rally soon? Better keep your eyes on these levels if you’re hoping to catch a break higher! AUD/CHF 4-hour Forex Chart by TV As you can see from the chart above, this forex pair made a couple of failed attempts to break below the .5875 area. AUD/CHF is now testing the resistance just slightly above the .6000 major psychological mark, and a break above this neckline would confirm that a rally is…
The BOE decision is coming up this week! Will they hike interest rates again as expected? Here’s what you can expect for the event and how you might be able to make pips from it. Event in Focus: Bank of England Monetary Policy Statement When Will it Be Released: May 11, Thursday: 11:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: BOE to hike interest rates by 0.25% from 4.25% to 4.50% No changes to asset purchases expected Market players are counting on another 0.25% interest rate hike from the folks…
dan_prat/iStock Unreleased via Getty Images Suncor Energy (NYSE:SU) reported Monday that Q1 adjusted operating earnings fell to C$1.81B, or C$1.36/share, from C$2.75B, or C$1.92/share, in the prior-year quarter, but ahead of the C$1.32/share analyst consensus estimate. The company said the drop in earnings was primarily due to lower crude oil realizations, increased operating expenses, lower upstream production and refinery throughput, and weaker crude oil prices. Suncor’s (SU) Q1 total upstream production fell to 742.1K boe/day from 766.1K boe/day a year earlier due to unplanned maintenance during the quarter. Q1 E&P production slipped to 67K boe/day from 80.4K boe/day a year…
Gold, XAU/USD, FOMC, Fed, US Dollar, Crude Oil, WTI, Yields – Talking PointsThe gold price appears to be fortifying its position above US$ 2,000 for nowTreasury yields crude oil prices have displayed an inverse relationship with the metalUS CPI on Wednesday might provide hints on Fed policy. Will it drive XAU/USD? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Gold consolidated around the US$ 2,020 handle going into Tuesday’s trading session after dipping last Friday as sways in risk sentiment appear to be driving the pricing…
4/4 © Reuters. A fire burns in a building after the Israeli military struck Islamic Jihad targets, it said in a statement, in Gaza, May 9, 2023. REUTERS/Mohammed Salem 2/4 GAZA (Reuters) -Israel killed three senior Islamic Jihad commanders in Gaza air strikes, Palestinian officials said, as the Israeli military confirmed it was carrying out an operation against the group before dawn on Tuesday. Medics said at least six Palestinians were killed in the air strikes, three of whom were civilians, and several more were wounded. The Israeli military said it targeted three senior commanders of the Islamic Jihad, the…