Author: FX

Share: US Dollar benefits from upbeat Manufacturing and Services PMIs for April. Fed’s Harker signals the end of rate hikes, but Mester suggests higher rates are needed. NZD/USD Price Analysis: Bearish biased and can test YTD lows if it dives below 0.6084. The NZD/USD fell to six-week lows around 0.6126 as business activity in the United States (US) improved, triggering flows toward the American Dollar (USD). Therefore, the New Zealand Dollar (NZD) weakened, also undermined by lower inflation, as reported during the week. At the time of writing, the NZD/USD is trading at 0.6140, down more than 1%.…

Share: Bank of England (BoE) Deputy Governor Dave Ramsden said in an interview with The Times that the central bank must stop the risk of high inflation becoming embedded in the economy. He added there were still signs of stubbornly high inflation.  Ramsden mentioned there was a greater risk of the BoE doing too little rather than too much.  Market reaction Ramsden comments had no impact so far on the Pound. GBP/USD is trading at a daily high late on Friday near the 1.2440 area, on its way to a modest daily gain. EUR/GBP stays flat around 0.8830.  …

© Reuters. FILE PHOTO: Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration By Svea Herbst-Bayliss BOSTON (Reuters) – Hedge funds pulled in $9.1 billion in new money during the first three months of 2023, data showed on Friday, after last year’s hefty outflows as pension funds and other investors navigated a banking crisis and faced fresh fears of an economic downturn. It was the first quarterly inflow for hedge funds since early 2022, new data from Hedge Fund Research (HFR) showed. Some investors may have been chasing returns, fueled by last year’s relatively strong…

USD/JPY OUTLOOK:USD/JPY jumps after U.S. PMI data surprises to the upsideStrong economic activity boosts Treasury yields across the curve, reviving expectations for “higher-for-longer” interest ratesS&P Global Composite PMI clocks in at 53.5 versus 52.3 in March, a sign business activity may be starting to rebound Recommended by Diego Colman Get Your Free JPY Forecast Most Read: Sterling Price Outlook – Signs of Bullish Impetus Reverse Ahead of a Busy WeekUSD/JPY was losing ground early Friday morning, but took a 180-degree turn and reversed sharply higher shortly after U.S. markets opened, supported by better-than-anticipated U.S. economic data. The chart below shows…

USD/JPY 10 minsThe recession narrative was flipped on its head today on a strong US PMI from S&P Global. The survey data is a forward-looking indicator and highlights an economy that wasn’t bruised by the March bank rout. In addition, the report highlighted growing price pressures in the service sector.”The latest reading is indicative of GDP growing at an annualized rate of just over 2%,” said Chris Williamson,Chief Business Economist at S&P Global Market Intelligence.It’s only one data point and there are plenty of others pointing to mounting weakness but it certainly raises the possibility that the Fed hiking cycle…

Share: DXY keeps the side-lined trading well in place on Friday. The breakdown of this theme exposes a drop to the YTD low. DXY trades without clear direction below the 102.00 region at the end of the week. The index maintains the choppy activity well in place so far this week. Occasional bouts of weakness could spark a potential decline to the 2023 lows in the 100.80/75 band (April 14) ahead of the psychological support at the 100.00 mark. Looking at the broader picture, while below the 200-day SMA, today at 106.21, the outlook for the index is…

In many trading-related books, we often see the markets become associated with a jungle. And why not? Every day traders battle it out with animal references such as the bulls and the bears, the hawks and the doves, and the wolves and the sharks. The markets can also be unpredictable, unforgiving, and dangerous. Surviving and conquering the markets requires knowledge, skills, and guts. This is likely why traders love referencing themselves as modern-day hunters. Some say that they’re like the cheetahs who catch their prey using sheer speed while others see themselves as crocodiles who lie in wait for a…

Pound Sterling (GBP/USD, EUR/GBP) AnalysisSterling fails to inspire despite services PMI beat. Manufacturing contracts furtherCable heads lower despite earlier boost on elevated rate expectations that now sees UK rates potentially peaking at 5%EUR/GBP with a potential bullish breakout in focus ahead of a massive week for EU economic dataThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Find out what’s in store for the Pound Sterling Sterling Fails to Inspire Despite Services PMI BeatUK PMI data from S&P Global/CIPS revealed the…

4/4 © Reuters. FILE PHOTO: FILE PHOTO: Russian opposition politician Ilya Yashin, who was sentenced to eight-and-a-half years in prison in December 2022 on charges of spreading “false information” about the Russian army, is seen on a screen via video link during a court 2/4 (Adds dropped letter in paragraph four) By Mark Trevelyan LONDON (Reuters) -With virtually all the Kremlin’s opponents already jailed or in exile, and liberal press outlets and human rights groups forced to shut down, it might have appeared that years of repression in Russia had achieved their objective. But in the space of just three…

EUR/USD Price, Chart, and AnalysisEuro Area service sector activity print a new 12-month high.Manufacturing activity contracts at the fastest rate since December.EUR/USD stable around 1.0960 in limited trade. Recommended by Nick Cawley Get Your Free EUR Forecast For all market-moving events and economic data releases, see the real-time DailyFX CalendarThe latest HCOB Flash Eurozone PMIs show a growing divergence between the manufacturing and service sector in the single block. According to the latest release, ‘Growth became increasingly uneven in April, with the service sector reporting its strongest expansion for a year whereas manufacturing output contracted at the sharpest rate since…