Author: FX
Watch out, silver bulls! Precious metals have been on the rise lately, but it looks like the rallies might be running out of steam. Is XAG/USD in for a selloff soon? Here are the levels to keep tabs on. Silver (XAG/USD) 1-hour Chart by TradingView Silver has been forming higher lows connected by an ascending trend line that’s been holding since late March, and price is currently testing this support zone. A bounce could take XAG/USD back up to the highs around $26.00, but a break lower could signal that a downtrend is underway. Now this lines up with an…
Share: USD/CHF is making efforts for recovery after defending the critical support of 0.8960. S&P500 futures have shown nominal losses in Asia amid anxiety over earnings data. Fed Bostic favored one more rate hike and then holding them above 5% for some time. The USD/CHF pair is eyeing a recovery after building a base around 0.8960 in the Asian session. The Swiss Franc asset has been defending the aforementioned support for the past two trading sessions. An attempt of recovery by the US Dollar Index (DXY) after correcting to near 101.65 has infused some strength in the Swiss Franc…
Gold, XAU/USD, Fed’s Bostic Speaks, IGCS – Briefing:Gold prices aimed higher on Tuesday as the US Dollar fellBearish Engulfing follow-through remains a risk for goldIGCS shows traders decreased upside bets, a bullish sign? Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Gold prices gained slightly over the past 24 hours after the worst 2-day loss since early February. The anti-fiat yellow metal benefited from a cautiously weaker US Dollar as traders continued to fine-tune their expectations of where the Federal Reserve might take interest rates later this year.During Tuesday’s Wall Street trading session, Atlanta Fed President Raphael Bostic spoke…
5/5 © Reuters. Ukrainian servicemen return from heavy fighting amid Russia?s attack on Ukraine, close to Bakhmut, Ukraine, April 15, 2023. REUTERS/Kai Pfaffenbach 2/5 (Reuters) – Russian President Vladimir Putin met his commanders in two regions of Ukraine that Moscow claims to have annexed, while Russian forces stepped up artillery bombardments and air strikes on the devastated eastern Ukrainian city of Bakhmut. POLITICS/DIPLOMACY * The U.S. and its NATO allies must remain alert for signs Putin could use a tactical nuclear weapon in a “managed” escalation of his war in Ukraine, the second-highest U.S. diplomat said.* Brazilian President Luiz Inacio…
The USD is ending the day as the weakest of the major currencies in what was a ho-hum trading day. The GBP and the EUR area the strongest. The strongest to the weakest of the major currenciesLooking at the ranges (see table below) of some of the major currency pairs, the low to high trading ranges were all lower than the averages over the last 22 days (about a month of trading). If you discounted the GBPUSD, the ranges were all less than 79% of normal (the AUDUSD had a range that was 79% of the 22-day range). ON the…
Share: USD/JPY bulls are waiting in the flanks as price corrects. USD/JPY remains on the front side of the bullish trend. As per the prior analysis, USD/JPY Price Analysis: Bulls stay front side of trend and above the 134 figure but correction eyed, the correction is underway. The following illustrates the prospects of a bullish continuation following a move into the in-the-money longs: USD/JPY prior analysis The bulls had picked up a discount and the market has subsequently rallied, reaching very close to a -272% Fibonacci retracement of the correction´s range: With the bulls still in control, it was stated that there are…
We’re getting a parade of April business surveys from the Eurozone on Friday! What are markets expecting and how can the reports affect EUR? Here’s a short guide for ya: Event in Focus: Euro Area Flash Manufacturing & Services PMIs A purchasing managers index (PMI) comes from a survey conducted among a few hundred purchasing managers in major business sectors, such as the manufacturing and services industries. An index reading of 50.0 and above hints at optimism and industry expansion, while a reading of 49.9 and below denotes pessimism and possible industry contraction. While survey companies like S&P have manufacturing…
GOLD PRICES FORECASTGold prices regain ground on U.S. dollar weakness following a subdued performance on MondayXAU/USD rebounds after encountering technical support at the lower bound of an ascending channelThis article looks at key tech levels to watch in the near term Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Nasdaq 100 Update – US Stocks Gear up for Tech Earnings: Netflix, TeslaAfter a subdued performance at the start of the week, gold prices (XAU/USD) rebounded on Tuesday, supported by cautious sentiment and, more importantly, a weaker U.S. dollar, a situation that increases demand for the precious metal…
Fed’s Bullard in a Reuters interview says:US recession predictions ignore strength of labor marketPandemic savings still to be usedNot much clear progress on inflation means interest rate needed to continue to riseStill sees adequately restrictive policy rate at 5.5% – 5.75% range, bias to hold for longer until inflation containedRisk of bank stress causing broad problems seems to have diminishedFed should avoid extensive forward guidance and next meeting, keep options openFed Bullard and Feds Waller are both lobbying for multiple rate hikes still to come. Source link
Share: Johnson & Johnson beat Q1 consensus on earnings, revenue. JNJ pops 2% on news, moving above $166 resistance point. Sales revenue rises 5.6% YoY. Johnson & Johnson raises full-year guidance. Johnson & Johnson (JNJ) stock rose 2% in Tuesday’s premarket after the healthcare and consumer goods conglomerate reported first quarter adjusted earnings per share (EPS) of $2.68, 18 cents above Wall Street analysts’ projections. Revenue of $24.7 billion was also $1.1 billion above consensus. JNJ stock broke above its $166 resistance barrier. Johnson & Johnson stock news: 2023 guidance raised Despite poor US retail spending data from…