Author: FX
Share: Analysts at MUFG Bank continue to see the EUR/USD pair moving to the upside over the next few days. They expect the pair to break out to the upside and move back closer to pre-Ukraine conflict levels from early last year. Key quotes: “The pair has been attempting to break above the top of this year’s trading range between 1.0500 and 1.1000 over the past week, and has spent the most time trading above the 1.1000-level this month since March of last year. We expect the pair to break to out to the upside and move back…
Share: Next week it is not only about central banks, the US official employment report is due on Friday. Analysts at Wells Fargo, see payroll rising by 195K, slightly above the consensus of 181K. Key quotes: “Slowly bending, not breaking, has so far been the story of the labor market this year. That is unlikely to change with April’s employment report. In March, nonfarm payrolls rose by 236K, the weakest print since December 2020. Signs were more encouraging in the separate household survey, where employment rose by 577K, causing the unemployment rate to tick back down to 3.5%.…
Share: Data released on Friday showed monthly GDP in Canada rose by 0.1% in February, below market consensus. Analysts at CIBC point out that a slowing economy should keep the Bank of Canada (BoC) on hold for the remainder of 2023, rather than pulling the trigger on another rate hike, before cuts arrive early next year. Key quotes: “After sprinting out of the gate to start 2023, the Canadian economy had already hit a wall by March. Monthly GDP rose by 0.1% in February, which was a tick below the consensus forecast and a noticeable deceleration from an…
KuCoin Confirms Wallet Identity of User Behind Multiple Rug Pulls The crypto wallet responsible for thousands of rug pulls belongs to a KuCoin user.Coingurruu alerted the public about a wallet that launched thousands of memecoins over two years.A KuCoin community member accused KuCoin of being behind the multiple rug pulls. KuCoin exchange has confirmed that the crypto wallet responsible for thousands of rug pulls on its platform belongs to one of its users. The crypto exchange confirmed the information after a community member accused it of owning and controlling the same wallet. .@CoinGurruu the wallet that you claim has launched…
Earnings from the big technology companies may have boosted US equity indices but the bar for further gains is rising ahead of the US FOMC meeting next week. That said, the trend remains up and so far, there are no signs of a reversal of the uptrend on technical charts. Source link
Daily changes:Stoxx 600 +0.5%German DAX +0.7%UK FTSE 100 +0.4%French CAC flatSpain IBEX -0.9%Italy MIB -0.3%Weekly changes:Stoxx 600 -0.6%German DAX +0.1%UK FTSE 100 -0.7%French CAC -1.3%Spain IBEX -2.0%Italy MIB -2.4%A decline this week ends a run of five straight weeks higher in the Stoxx 600. Source link
GOLD PRICES FORECAST:Gold prices were subdued on Friday, but losses were limitedTraders appear to be avoiding large directional bets ahead of important economic events in the coming daysThe Fed May meeting’s monetary policy decision and the U.S. labor market report will steal the limelight next week Recommended by Diego Colman Get Your Free Gold Forecast Most Read: US Core and Headline PCE Diverge, Employment Costs Rise, US Dollar Nudges HigherGold prices (XAU/USD) retreated on Friday, weighed down by a stronger U.S. dollar, but the pullback was modest as falling U.S. Treasury yields capped the downside. In late morning, bullion was…
It’s time for the folks over at the RBA to announce their policy decision very soon! Will they decide to keep rates unchanged for another month? And what do the latest inflation figures imply for their policy plans? Here’s what you need to know if you’re planning on trading this central bank announcement. Event in Focus: Reserve Bank of Australia Monetary Policy Statement When Will it Be Released: May 2, Tuesday: 4:30 am GMT, 5:30 am London, 12:30 am New York, 1:30 pm Tokyo Expectations: RBA to keep interest rates on hold at 3.60% Potential revisions to inflation and rate…
Share: US Dollar gathers bullish momentum on Friday as markets assess the latest US data. USD is up more than 1% against the Japanese Yen following the Bank of Japan’s policy meeting. US Dollar Index technical outlook points to a bullish tilt in the short term. The US Dollar (USD) has gathered strength in the second half of the week and the US Dollar Index climbed above 102.00 for the first time in a week on Friday. The risk-averse market atmosphere helps the USD find demand as a safe haven while hawkish Federal Reserve (Fed) bets provide an…
US Dollar (DXY) Price, Chart, and AnalysisHeadline inflation at 4.2% vs a prior reading of 5.1%Core inflation at 4.6% vs 4.5% expectations and a upwardly revised prior reading of 4.7% Recommended by Nick Cawley Get Your Free USD Forecast Core inflation in the US remained elevated, and sticky, in March, while headline inflation dropped the best part of 1 percent in March, leaving the overall picture mixed. Employment costs, both benefits, and wages, rose by 1.2% in March compared to 0.8% and 1% respectively in February. The overall take from today’s data suggests that the Federal Reserve will hike rates…