Author: FX

© Reuters. People light up candles to pay tribute for victims of Belgrade school mass shooting in Podgorica, Montenegro, May 5, 2023. REUTERS/Stevo Vasiljevic BELGRADE (Reuters) -A girl shot in the head in a school shooting in Serbia in which eight pupils and a guard were killed is still in critical condition, while two boys who were being treated in the same hospital have been released, RTS state TV reported on Saturday. The country is in shock and mourning after two mass shootings: the school massacre in Belgrade on Wednesday, and a rampage outside the city on Thursday in which…

EUR/USD ANALYSIS & TALKING POINTSEuro strength looks to be fading as we enter yet another week with more questions than answers.US CPI the focus for the week. Will inflation support stellar NFP?Daily chart could be on the precipice of a rising wedge breakout. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL FORECAST: BEARISHThe euro is up almost 3% against the US dollar year-to-date with a strong push from a hawkish European Central Bank (ECB) and comparatively less aggressive Fed. Things changed last Friday when the US Non-Farm Payroll (NFP) report once again reinforced the tight labor market…

William Penn Bancorporation launches buyback of 1.3M shares Source link

MON: UK Bank Holiday, EZ Sentix Index (May), German Final CPI (Apr), Fed SLOOSTUE: Riksbank Minutes, NBH Announcement, EIA STEO, Chinese Trade Balance (Apr)WED: Norwegian CPI (Apr), US CPI (Apr)THU: BoE Announcement, BoJ Summary of Opinions, OPEC MOMR, Chinese Inflation (Apr), US PPI (Apr)FRI: New Zealand Inflation Forecasts (Q2), UK GDP (Mar/Q1), French CPI (Apr), University of Michigan Prelim. (May)NOTE: Previews are listed in day-orderFed Senior Loan Officer Survey (Mon): The Fed’s quarterly Senior Loan Officer Opinion Survey on Bank Lending Practices will show that lending standards at midsized banks tightened in the latest period, Fed Chair Powell revealed at…

Hi everyone, if you’re in the Johannesburg area this week, I would love to meet up. I’ll be at the Finance Magnates Africa Summit from May 8-10.It’s a free event and you can register to attend here.If you’re looking to meet up, the best way to reach me is probably via my LinkedIn page. Source link

SlavkoSereda/iStock via Getty Images Crude oil futures rose Friday to take a bit of the sting off a downbeat week that sent the U.S. contract to its lowest level since late 2021, driven by fears of a recession and risk aversion prompted by turmoil in U.S. banking. Yet the underlying oil market looks resilient, as China is attracting cargoes as domestic travel rebounds, and traders expect the country’s crude purchases will remain high in the coming months. If Chinese crude oil imports – which nearly reached their June 2020 record level in March – post a strong April report, it…

It was a crazy busy week for forex traders as they had to balance the release of a cornucopia of top-tier economic indicators, including the latest U.S. employment update and THREE major central bank policy statements. AUD and NZD took the top spot as risk sentiment shifted mid-week, while “dovish hikes” from the Fed and ECB weighed on the Greenback and the Euro into a battle for the worst performer of the week. USD Pairs Overlay of USD vs. Majors  Chart by TV A combination of mixed labor market numbers, regional bank contagion fears, and recession concerns dragged the dollar…

Market players were all over the place this week as thin trading, bank jitters, and recession concerns dominated price action in the first half of the week. Gold and JPY flexed their safe-haven muscles while “riskier” assets like equities, crude oil, and crypto took beatings. And then the price action got hot as the RBA, Fed, and ECB published their latest monetary policy decisions. While all three major central banks raised their interest rates, a lot of traders still considered them “dovish.” This is probably why risk assets eventually recovered some of their intraweek losses. Notable News & Economic Updates:…

Share: The strong downtrend in USD/MXN continues as emerging market currencies advance against the US Dollar. USD/MXN eyes 17.5000 support; bullish potential remains limited, with key resistance at 17.9492 and 18.2263. The USD/MXN fell to fresh six-year lows of 17.7462, hit in the middle of the New York session even though the US economy revealed upbeat data, which failed to strengthen the US Dollar (USD). At the time of writing, the USD/MXN pair is trading at 17.7480, down 0.92%. A goodish employment report in the United States (US) improved market sentiment. Therefore, high beta currencies, alongside emerging markets…

It was unemployment day and the data was mixed despite the higher than expected gains of 253K for the current week. The month gain was comfortably higher than the 180K estimate. However, job growth has moderated after including the revised figures for its February and March figures. Those revisions lowered the two months by 149K, taking the average monthly job gains over the past three months to 222,000, compared to 524,000 a year ago. The average is the lowest since January 2021. On the strong side was the unemployment rate which dipped to 3.4% from 3.5%, matching its multi-decade low,…