Author: FX

The U.K. is about to drop its May GDP figures! Will growth figures encourage more rate hikes or a higher-for-longer stance from the BOE? More importantly, how can this week’s release affect GBP’s price action? Event in Focus: U.K. Gross Domestic Product (GDP) for May 2023 When Will it Be Released: July 13, 2023 (Thursday), 6:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: May GDP m/m: -0.2% m/m forecast vs. +0.2% m/m previous May GDP y/y: -0.2% y/y forecast vs. +0.5% y/y previous Relevant Data Since Last Event/Data Release: May…

In the earlier post and video on the EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the…

Share: The GBP/JPY cross tallied a fourth consecutive loss day and retreated near 181.00. The ONS from the UK reported that wages and unemployment increased in the three months leading up to May. Falling Japanese yields to limit the JPY gains. On Tuesday, the GBP/JPY continued to lose ground and at the time of writing trades at 181.25. In that sense, the GBP is weakening as the Office for National Statistics (ONS) from the UK reported that unemployment picked up in May as wages increased, a red flag for the Bank of England (BoE). On the other hand,…

RAND ANALYSIS & TALKING POINTSChinese new Yuan loans drive ZAR confidence.All eyes shift to US CPI tomorrow.Bear flag break eyes R18.50/$. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR FUNDAMENTAL BACKDROPThe South African rand extends its gains against the U.S. dollar this Tuesday as markets anticipate lesser inflationary pressures within the US via tomorrow’s US CPI report. Consumer inflation expectations dropped to fresh lows last seen in April 2021 leaving the greenback exposed to the downside. Encouraging Chinese loan data (see economic calendar below) supplemented…

The company currently expects FY23 revenue to be in the range of $31.0 million to $32.5 million vs. the consensus of $31.9 million, representing 19% growth at the mid-point (prior: $31 million to $34 million) and an Adjusted EBITDA loss in the range of -$1.5 million to -$2.0 million (prior:-$3.0 million to -$1.5 million).”As the Company has communicated repeatedly during the last nine months, springbig expects to turn Adjusted EBITDA positive during Q3 and to generate an Adjusted EBITDA profit in the range of $0.5 million to $1.0 million for the second half of this fiscal year,” said Paul Sykes,…

© Reuters. FILE PHOTO: Car chargers at a Tesla Super Charging station are shown in Carlsbad, California, U.S. Sept. 14, 2018. REUTERS/Mike Blake/File Photo By Abhirup Roy SAN FRANCISCO (Reuters) – Tritium DCFC said on Tuesday it had won an order from Hawaii to make high-speed electric vehicle chargers – the first funds to roll out in a federal program meant to blanket the country with charging infrastructure and boost EV adoption. The U.S. government plans to dole out $5 billion to states over five years as part of the National Electric Vehicle Infrastructure Program (NEVI) to electrify highways and…

US small business confidence hits a 7-month high in June as sentiment is starting to turn more optimistic (more like less pessimistic perhaps) on the economy. Sales expectations improved further n the month but the tight labour market continues to drive concerns about inflation. That said, the percentage of business owners seen raising their average prices fell to just 29% – the lowest since March 2021. Source link

Share: The UK Unemployment Rate unexpectedly rises to 4.0% in the three months to May. The Claimant Count Change for Britain arrived at 25.7K in June. The UK Average Earnings excluding bonuses rose 7.3% 3M YoY May vs. 7.1% expected. The Office for National Statistics (ONS) published the latest employment data on Tuesday showing the United Kingdom’s (UK) ILO Unemployment Rate inched higher to 4.0% in the quarter to May from the 3.8% seen during the three months to April. The market forecast was 3.8% in the reported period. The Claimant Count Change also showed a big increase. The number of people claiming jobless benefits jumped…

Heads up, dollar traders! We’ve got a fresh batch of U.S. CPI readings comin’ right up, so this might be your chance to catch big moves off USD pairs. Event in Focus: U.S. headline and core CPI readings for June 2023 When Will it Be Released: July 12, 2023 (Wednesday), 12:30 pm GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: U.S. headline consumer price index m/m: 0.3% forecast vs. 0.1% previous U.S. headline consumer price index y/y: 3.1% forecast vs. 4.0% previous U.S. core consumer price index m/m: 0.3% forecast vs. 0.4%…

Don’t look now, but NZD/CHF looks ready to test the bottom of its triangle chart pattern! Do you think it will hold during the RBNZ decision? As you can see from the hourly time frame below, the pair is closing in on the support area ahead of the big event. NZD/CHF 1-hour Forex Chart by TV This pair has formed lower highs and found support around the .5450 minor psychological mark, creating a descending triangle pattern that’s been holding since late June. Price just bounced off the resistance earlier this month and looks prime for a test of support again,…