Author: FX

GOLD AND S&P 500 OUTLOOK:Gold prices bounce back after a small drop in the previous trading sessionS&P 500 notches a small loss, but finishes the session off its worst levelsThis article looks at key S&P 500 levels to watch in the coming days Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Euro Forecast – EUR/USD Rebounds as Trendline Support Holds Bears at Bay. What Now?Gold prices (XAU/USD) recovered on Thursday following a small pullback in the previous day, up 0.5% to $2,015 in late afternoon trading, underpinned by falling U.S. government bond rates, with the 10-year yield…

Th major US stock indices are rotating lower. The S&P index is traded to a new session low. The NASDAQ is also now breaking below the low from the 1st hour of trading today.Looking at the hourly chart of the S&P index the price is testing a upward sloping trend line. A move below that trend line and traders would look toward the 100 hour moving average at 4115.14.For the NASDAQ index, is currently trading down -114.64 points are -0.94% at 12043.47. Looking at its hourly chart, the price has moved back below its rising 100 hour moving average 12087.90.…

Share: Disappointing macroeconomic data releases from the US weigh on US Dollar. Fed’s Mester: Rates must peak above 5% and hold there for a while. Mexican Retail Sales missed estimates, according to INEGI, though The Mexican Peso (MXN) gains ground vs. the US Dollar (USD) and hovers around the 18.0000 figure for the first time in two days. A deceleration in the US, namely the labor market, housing, and manufacturing activity, in Philadelphia, spurred concerns about the status of the economy. At the time of writing, the USD/MXN is trading at 17.9910. USD/MXN drops as US data discouraged…

EUR/USD OUTLOOK:Euro strengthens against the dollar as disappointing U.S. economic data exerts downward pressure on Treasury yieldsHawkish commentary from ECB officials also supports the common currencyFrom a technical standpoint, EUR/USD has encountered support at a key trendline, paving the way for prices to resume their journey higher Recommended by Diego Colman Get Your Free EUR Forecast Most Read: EUR/USD Unchanged After ECB Minutes, Heavy Data Calendar Next WeekEUR/USD rebounded on Thursday after a subdued performance in the previous session, but gains were limited amid broadly cautious market sentiment. In afternoon trading in New York, the euro was moderately outpacing the…

2/2 © Reuters. Smoke rises from burning aircraft inside Khartoum Airport during clashes between the paramilitary Rapid Support Forces and the army in Khartoum, Sudan April 17, 2023. REUTERS/Stringer 2/2 By Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) -Thousands of Sudanese have crossed into Chad to flee fighting in the western region of Darfur and thousands more streamed out of the capital Khartoum, where renewed heavy gunfire erupted on Thursday as the latest of several ceasefires broke down. Forces commanded by two previously allied leaders of Sudan’s ruling council began a violent power struggle last weekend that has so far…

RAND ANALYSIS & TALKING POINTSWill the SARB be forced into another rate hike?Federal Reserve path forward will be crucial for SARB and ZAR.Local economic woes endure.Uncertainty indicative of rangebound ZAR short-term. 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 built on its momentum from the Asian trading session and following on from yesterday’s local inflation beat. South African building permit data for February added to the ZAR positivity increasing by 8.6% YoY (see economic calendar below). The South African Reserve…

Tesla… Smeshla. It’s all about Starship It was Tesla earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation’s operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the…

Share: EUR/USD struggles to advance further north of 1.0980 on Thursday. The next resistance level of note comes at the YTD peak near 1.1070 . EUR/USD’s initial bullish attempt runs out of steam near 1.0980 on Thursday. Further consolidation should not be ruled out for the time being. The breakout of this theme exposes a probable move to 1.1000 ahead of the 2023 high at 1.1075 (April 14). On the downside, the 1.0900 zone emerges as quite a decent contention so far. Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today…

EUR/USD Price, Chart, and AnalysisECB Minutes show a majority of members voted for a 50 basis point hike.EUR/USD unchanged but next week’s heavy data calendar will now be key. Recommended by Nick Cawley Get Your Free EUR Forecast Most Read: Euro Week Ahead Forecast: EUR/USD Looking to Build a New BaseAccording to the latest European Central Bank minutes, a large majority of voting members agreed to hike rates by 50 basis points, although it was acknowledged that ‘in the current situation of heightened uncertainty a decision had to be taken with imperfect information’. The report also showed that ‘some members…

Oil (WTI) News and AnalysisWTI on track for fourth straight day of declines on demand concerns, stronger USDWTI attempts to fill in the OPEC-inspired gap with the 50 SMA in sightThe 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 our analysts foresee for oil in Q2 WTI on Track for Forth Straight Day of Declines on Demand Concerns, Stronger USDOil continues to selloff after posting the monthly high last week of around $83.53 when looking at the continuous…