Author: FX
Share: USD/CAD takes the bids to renew one-week high on crossing short-term key hurdles, now immediate supports. 100-SMA, one-month-old descending trend line restrict immediate downside amid bullish MACD signals. Overbought RSI conditions suggest pullback from the 1.3500 round figure. 200-SMA acts as additional upside filters, bears need validation from 1.3320. USD/CAD marches towards the 1.3500 threshold after crossing the short-term key resistances, around 1.3470 during Thursday’s Asian session. In doing so, the Loonie pair cheers upside break of the one-month-old descending trend line, as well as the 100-SMA, respectively near 1.3465 and 1.3390. It should be noted that…
CNH Industrial N.V. (CNHI) to Exit Russia London, April 19, 2023CNH Industrial (NYSE:) announces today the divestiture of its business activities in Russia for a total consideration of approximately $60 million. This follows the Company’s announcement in March 2022 that it was suspending supplies to this market. Up until today, the payment of employee salaries and other administrative expenses in Russia have been duly guaranteed.Until March of 2022, the Company operated a corporate office in the Moscow region through which it managed the import and distribution of its products in Russia, regional business activities and commercial financing. Its industrial footprint…
American Express Co (AXP.s) is a leading New York-based financial institution in the US that offers credit and charge payment card products and travel-related services through various segments. The company has a capitalization of $122.32B and is expected to report earnings for the fiscal quarter ending in March 2023 on Thursday 20/04 before the market opens. During this first quarter, the S&P500 and AMEX have benefited, the first with an increase of 8.9% and the second even higher with 10.6%. Source: Nasdaq Zacks positions AXP in the Rank #3 (Maintain) in the Fund 20% position #200/250 of the Financial-Miscellaneous Services…
GBP/USD AND USD/JPY TECHNICAL OUTLOOKGBP/USD rises, but bullish momentum appears to be waning as prices probe key cluster resistance regionUSD/JPY extends its advance after breaking above its 50-day moving averageThis article looks at key technical levels to watch in the coming days and weeksMost Read: USD/CAD Rises on Oil’s Slump, Nasdaq 100 Carves Double Top Pattern as Bears Lurk of clients are net long. of clients are net short. Change in Longs Shorts OI Daily -8% 5% -1% Weekly 6% -4% 0% GBP/USD TECHNICAL ANALYSISGBP/USD advanced on Wednesday, but gains were modest despite a rally in U.K. government bond yields,…
With the Fed hiking cycle now almost complete, everyone in the FX market is trying to figure out when the Fed will switch to an easing bias and how the dollar will react. The widely-used “dollar smile” framework has been the go-to for understanding the dollar’s response to a dovish turn but is it correct? In a report from Deutsche Bank today, a simpler framework is proposed, focusing on front-end rates and ‘bad news’ to explain the dollar smile. The key finding is that US rates tend to bounce back faster from negative shocks than global rates, which contributes to…
Share: Gold price sits in the consolidative territory after two-way price action. Federal Reserve sentiment is the driving force with eyes on key support. The Gold price is down some 0.5% on the day, sliding below the $2,000 mark as the US Dollar perks up again. US Treasury yields are moving higher towards a one-month peak, with markets now pricing in an 85% chance of a 25-basis-points rate hike at the Federal Reserve’s May 2-3 meeting. Hawkish tones have crept their way back in this week following, initially, Friday´s comments from Federal Reserve Governor Christopher Waller said that despite a…
Silver (XAG/USD) AnalysisSilver bulls have not capitulated, upside potential remains above crucial zone of supportUpside risks remain in play as US interest rate expectations decline alongside the dollarThe 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 Silver is one of the top trading opportunities for Q2 Silver Bulls Have Not Capitulated, Upside Potential RemainsSilver has been on a massive bull run since the SVB saga which has been characterized by very shallow pullbacks – further reinforcing the strength of the trend.…
CANADIAN DOLLAR, NASDAQ 100 OUTLOOK:Canadian dollar weakens, pressured by lower oil prices and the broader U.S. dollar reboundUSD/CAD breaks above its 200-day simple moving average, a positive sign for bullsNasdaq 100 slides, with prices rejected at resistance and forging a double topMost Read: Gold (XAU/USD) Price Under Yield Pressure, Support Level Nears of clients are net long. of clients are net short. Change in Longs Shorts OI Daily -18% 17% -5% Weekly 2% 25% 12% USD/CAD ANALYSISThe U.S. dollar, as measured by the DXY index, regained lost ground on Wednesday after moderate losses in the previous session, boosted by rising…
It is often said that success comes to those who embrace change. Successful businessmen, for example, create new products and services that cater to the ever-changing demands of customers. The age-old saying, “The only thing constant in life is change,” isn’t any less true in trading. Of course, adapting to change isn’t easy, but as a forex trader, your job is to be flexible. Think of market themes as theories that traders create to make sense of what’s going on in the markets. Of course a theory can only be good if it truly captures trends in the market. If it…
One of the best tools that rich people have in order to grow their wealth is money. While many people work to earn money, rich people make their money work for them. That is by investing their money. By investing, they mean investing in the stock market. Now, investing in the stock market means that you are in it for the long haul and that it is a slow and steady process of earning money. While it is possible for simple folks to invest in the stock market, it can also be a very slow process. There are many people…