Author: FX
U.S. DOLLAR ANALYSIS & TALKING POINTSIncreasingly aggressive Fed guidance has bolstered the DXY, rangebound movement expected throughout today.Fed’s Cook and S&P PMI data under the spotlight later today.DXY awaits triangle breakout. Recommended by Warren Venketas Get Your Free USD Forecast USD FUNDAMENTAL BACKDROPThe Dollar Index (DXY) has managed to trade marginally higher this Friday morning as we enter the European session. In what has been a muted Asian session, the greenback has found support from hawkish Fed speak last night. The Fed’s Mester (known hawk) and Harker both echoed similar sentiments around maintaining a restrictive monetary policy environment preferring rates…
The USD rotated (USDIndex at 101.60) as Fedspeak (all 5 mantra was “inflation is still too high”) and fundamental data (Existing Home Sales, Leading Indicators, Philly Fed & Weekly Claims) all conspired to dent sentiment and raise fears of recession again, as uncertainty rules. Treasuries rose and Stocks closed down, (#TSLA, -9.75% & #AT&T -10.4% led decliners). Europe closed at low’s, Asian markets are also lower, JPY gets a wee lift ahead of the BOJ next week with AUD & NZD lower. Oil continues to decline and is heading for a big weekly loss. Gold is under $2k & BTC tests…
Share: The index keeps the erratic performance around 102.00 on Friday. The risk-off mood prevails early in the European session. Flash Manufacturing/Services PMIs next of note later in the docket. The greenback, in terms of the USD Index (DXY), sets aside Thursday’s pullback and manages to gather fresh steam and retests the 102.00 zone. USD Index now looks at flash PMIs The index keeps navigating choppy waters so far this week, always around the 102.00 neighbourhood and amidst alternating risk appetite trends. The recovery in the dollar so far comes amidst another corrective pullback in US yields across…
Is the Nasdaq’s rally running out of steam? Or is it merely going for a quick correction? As you can see from the 4-hour chart below, the equity index is having some trouble busting through the $13,250 area. This is right around the top of its rising wedge formation, so bulls might be booking profits right there. In that case, we might just see a pullback to these nearby support levels. Nasdaq (NAS100) 4-hour Chart by TradingView The Fibonacci retracement tool shows where more buyers might be looking to join in the rally. Among these levels, the 38.2% Fib is…
On Thursday Bloomberg reported that the US and Ukraine’s allies were considering “an outright ban on most exports to Russia”.Kyodo news agency in Japan have reported today that Group of Seven (G7) countries are considering the same, a near-total ban on exports to Russia. Kyodo citing Japanese government sources for its information. report said G7 officials were discussing the idea ahead of next month’s summit meeting in JapanJapan’s Chief Cabinet Secretary Hirokazu Matsuno was asked about the Bloomberg report: said the government was aware of it refrained from commenting on exchanges among G7 countries and like-minded nations “What is important…
#Microsoft, D1 Microsoft Corp. will publish fiscal 2023 third-quarter financial results after the market close on Tuesday, April 25, 2023. The share price has soared this year in large part due to an AI boost and renewed confidence in its Bing search engine. An erratic macro environment can increase risks to some growth metrics and margins, particularly from the enterprise PC business. In the most recent quarter (FY23 Q2), Microsoft delivered an overall revenue growth of 7%, which was largely due to a 16% decline in its PC business. Microsoft continued to show double digit growth in its more important…
Share: In recent trade today, the People’s Bank of China (PBOC) set the yuan at 6.8752 vs. the prior fix of 6.8987 and the previous close of 6.8740. About the fix China maintains strict control of the yuan’s rate on the mainland. The onshore yuan (CNY) differs from the offshore one (CNH) in trading restrictions, this last one is not as tightly controlled. Each morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day’s closing level and quotations taken from the inter-bank dealer. Source link
USD/CAD, WTI, Global Growth – Canadian Dollar and Oil Briefing: Recommended by Daniel Dubrovsky Get Your Free Oil Forecast Loonie Suffering Alongside Crude Oil PricesThe Canadian Dollar underperformed against the US Dollar on Thursday, extending losses that started at the end of last week. USD/CAD is up almost 1 percent this week so far, marking the best week for the currency pair since the beginning of March. What has been driving losses for the Loonie of late?Look no further than crude oil. WTI is down roughly 7 percent this week so far, marking the worst 5-day period since the middle…
The latest global inflation data have come and gone, overall making the outlook on global interest rates a little bit cloudier. Here’s a quick recap of this week’s inflation data and what it may mean for each currency in the short-term! Canadian CPI reading for March 2023 Consumer Price Index m/m: 0.5% actual (0.3% forecast) vs. 0.4% in February Core Consumer Price Index m/m: 0.5% actual (0.3% forecast) vs. 0.4% in February Consumer Price Index y/y: 4.3% actual (4.1% forecast) vs. 5.2% in February Core Consumer Price Index y/y: 4.3% actual (4.3% forecast) vs. 4.7% in February Overlay of CAD…
Kimberly-Clark (KMB) Declares $1.18 Quarterly Dividend; 3.4% Yield Kimberly-Clark (NYSE:) declared a quarterly dividend of $1.18 per share, or $4.72 annualized. The dividend will be payable on July 5, 2023, to stockholders of record on June 9, 2023, with an ex-dividend date of June 8, 2023. The annual yield on the dividend is 3.4 percent. For a dividend history and other dividend-related data on Kimberly-Clark (KMB) click here. Source link