Author: FX

POUND STERLING ANALYSIS & TALKING POINTSUK jobs report reiterates tight labor market conditions.Bank of England under pressure to hike once more in May.All eyes shift to UK inflation data tomorrow.GBP/USD hesitancy is evident around the 1.24 level. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPThe British pound has managed to creep higher this morning after jobs data beat estimates on multiple metrics. While employment change caught the headlines, average earnings both including and excluding bonuses could heighten inflationary pressures and prompt the Bank of England (BoE) to continue with it’s hiking cycle in their next meeting.…

The USD cooled from a 2-day rally despite strong Empire State Manufacturing Index, Stocks closed flat and Yields (10yr 3.591%) held onto gains. Overnight strong  Chinese data (GDP hit 4.5% in Q1 vs 4.0% & 2.9%), Retail Sales were 10.6% from 3.5% and Unemployment fell to 5.3% from 5.6%. UK Jobs beat (28.2k new jobs vs -11.2k last time, Earnings continue to be very hot at 5.9% vs 5.7%, Unemployment was 1 tick higher at 3.8% too adding to the bid on Sterling and increasing chatter of stagflation in the UK and pressure on the BOE to act again. Asian markets are also…

This Loonie pair is testing the very top of its range just as Canada is gearing up to print its latest CPI report. Now this inflation figure could be crucial to determining whether or not the BOC could keep rates on hold for longer. So will we see a bounce or break for CAD/JPY? CAD/JPY 4-hour Forex Chart by TradingView Thanks mostly to rising crude oil prices and improved risk sentiment, CAD/JPY has been on a tear for the past few weeks. In fact, the Loonie’s rally was enough to take the pair up to the top of its range…

Prior 98k; revised to 39kFebruary ILO unemployment rate 3.8% vs 3.7% expectedPrior 3.7%February employment change 169k vs 50k expectedPrior 65kFebruary average weekly earnings +5.9% vs +5.1% 3m/y expectedPrior +5.7%; revised to +5.9%February average weekly earnings (ex bonus) +6.6% vs +6.2% 3m/y expectedPrior +6.5%; revised to +6.6%The slight tick higher in the jobless rate sees it move to its highest since June last year but still keeping very much lower from a historical perspective. Payrolls are still continuing to print positively, although the pace is slowing down. However, the standout in this report is arguably the wage numbers, which continue to…

The dollar has gained some ground after hitting notable lows last week. Who else is taking these upswings as “pullbacks?” If you are, then you’re gonna love Bitcoin (BTC/USD) and USD/CHF’s 4-hour charts! USD/CHF 4-hour Forex Chart by TradingView USD/CHF found a bottom at .8875 last week, and it looks like there were enough bulls to push the pair to just under the .9000 mark. Unfortunately for the bulls, the .9000 psychological handle also lines up with the 50% Fibonacci retracement of last week’s downswing. It’s also uncomfortably close to a trend line resistance that’s been around since early March,…

Share: GBP/JPY grinds near intraday high during three-day uptrend ahead of UK employment statistics. Seven-week-old ascending resistance line challenges buyers amid nearly overbought RSI (14). Multiple failures to cross immediate trend line resistance join price-negative RSI conditions to tease sellers. 10-DMA restricts immediate downside, 161.00 appears a tough nut to crack for GBP/JPY bears. GBP/JPY buyers struggle to keep the reins as they prod a short-term key upside hurdle near 166.50 heading into Tuesday’s London open. In doing so, the cross-currency pair portrays the trader’s anxiety ahead of the UK’s March month Claimant Count figures, as well as…

HANG SENG, SHANGHAI COMPOSITE – Outlook:China GDP and retail sales beat expectations, but fixed asset investment slowed.The Shanghai Composite Index has risen above key resistance, while the upward momentum in the Hang Seng Index appears is improving.What is the outlook and what are the key levels to watch? Recommended by Manish Jaradi Get Your Free Top Trading Opportunities Forecast China/Hong Kong equities could be gearing up for another leg higher as the recovery in the world’s second-largest economy picks up steam.Data released on Tuesday Asia morning showed the Chinese economy grew 4.5% on-year in the January-March quarter, well above 4%…

3/3 © Reuters. Smoke rises from the tarmac of Khartoum International Airport as a fire burns, in Khartoum, Sudan April 17, 2023 in this screen grab obtained from a social media video. Abdullah Abdel Moneim/via REUTERS 2/3 By Khalid Abdelaziz and Nafisa Eltahir KHARTOUM (Reuters) -Sudan’s battling factions both claimed to have made gains on Monday as continued violence cut power and water in the capital, and the U.N. envoy to Sudan said the two sides showed no signs of being willing to negotiate. Fighting between the army and the paramilitary Rapid Support Forces (RSF) has killed at least 185…

ANZ summary of oil price influences, on both the demand and supply sides. Strong labour and inflation data last week stifled hopes that the Fed would pause its rate hike cycleInvestor appetite subsequently waned as Treasury yields lifted higher and the USD strengthenedSentiment was further hit by weaker demand in Asia. Refiners in the region are considering cuts to output amid a dramatic drop in profit margins. Crack spreads for diesel and jet fuel have also plunged. The former is now trading near USD16/bbl, the lowest level since January 2022. Similar falls are being experienced in the US, with the…

#PhillipMorris, D1 The holding company engaged in the manufacture and sale of cigarettes, tobacco and nicotine-containing products, Philip Morris (PM), is expected to report its earnings for the quarter ending March 2023 on Thursday (20/04), before the market opens. In the previous quarter’s earnings report, the company reported EPS of $1.39 beating the consensus estimate of $1.29. The company had a negative return on equity of 127.24% and net margins of 11.22%, for revenue of $8.15 billion during the quarter, compared to a consensus estimate of $7.54 billion. During the same period the previous year, the company earned $1.35 EPS. The…