Author: FX
Article by IG Chief Market Analyst Chris BeauchampDow Jones, Nasdaq 100, CAC 40 Analysis, Prices, and ChartsDow heading back towards 34,000Dow heading back towards 34,000After making headway yesterday the index has stalled in the short-term. A further push above 34,000 would help to revive the bullish view and open the way to 34,500.The recovery above the 50-day SMA this week has helped to create a higher low after the bounce from the late May low. It would require a reversal back below the 50-day SMA to negate the current bullish view.Dow Jones Daily Price Chart Recommended by IG Traits of…
Share: The Brazilian Real declined substantially after the minutes of the last meeting of the Brazilian central bank (Banco Central do Brasil, BCB) on Tuesday took a surprisingly more dovish tone than the original statement after the meeting had suggested. Economists at Commerzbank analyze BRL’s outlook. Real could avoid pressure if today’s meeting were to pass off without a hitch For the sake of confidence in the central bank’s independence and thus in credible inflation control, it would certainly be best if today’s meeting were to pass off without a hitch. Then, given the still very attractive real…
Who’s up for a simple pullback play today? I’ve got this GBP/AUD textbook correction setup on my radar! If you think the trend is still our friend on this pair, better keep your eyes on these potential support zones on the short-term time frames. GBP/AUD 15-min Forex Chart by TV GBP/AUD has been cruising higher with its rising lows connected by an ascending trend line that’s been holding since last week. The pair looks prime for another test of support, which happens to coincide with the 61.8% Fib level, former resistance area, and S1 (1.9050) at a minor psychological mark.…
Japan +0.15%. Japan May Retail Sales +5.7% y/y, grow more than expected led by tourism and a consumption boost. Japan consumer sentiment improves to a 17-month high. China -0.20%. The most important time of the session was again the People’s Bank of China’s yuan reference rate setting. Expectations for the mid-rate were around 7.2540. The PBOC shrugged those off with a much stronger CNY, setting USD/CNY at 7.2208. Yuan eases despite PBOC’s firmer-than-expected guidance. Hong Kong -1.46%. Australia -0.03%. Australia May Retail Sales +0.7% m/m (expected +0.1%). India market closed. New Zealand data: June business confidence leapt 13 points in…
© Reuters. FILE PHOTO: Nandalal Weerasinghe, newly appointed Governor of the Central Bank of Sri Lanka, speaks during a news conference, amid the country’s economic crisis in Colombo, Sri Lanka, April 8, 2022. REUTERS/Dinuka Liyanawatte/File Photo COLOMBO (Reuters) -Sri Lanka is asking foreign investors in its international sovereign bonds to take a 30% haircut and is seeking similar concessions from holders of its other dollar-denominated bonds as it seeks to restructure its massive debt, its central bank governor said on Thursday. The government will also exchange treasury bills into long-term bonds as part of a domestic debt restructuring programme, Nandalal…
EUR/CAD just can’t make new highs above 1.5000! Are we seeing a possible reversal in the making? We’re looking at the daily chart for a long-term bet! EUR/CAD Daily Forex Chart by TV EUR/CAD has been consolidating between 1.4400 and 1.5000 all year, which isn’t really surprising since the pair had a good couple of months jumping from 1.2900 to 1.4600 between September and January. But are we looking at a consolidation that will lead to a bearish reversal? The Head and Shoulders pattern forming on the daily time frame is saying it’s possible. Aside from the reversal pattern, the…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Share: AUD/JPY picks up bids to refresh intraday high after strong Aussie data. Australia Retail Sales jumped past market forecast, prior readings to 0.7% MoM in May. Japan’s upbeat Retail Trade for May fail to gain major attention as yields rebound, sentiment improves. Second-tier Japan data, risk catalysts eyed for clear directions. AUD/JPY justifies strong Australia Retail Sales figures while refreshing intraday high near 95.60 during the mid-Asian session on Thursday. In doing so, the cross-currency pair ignores upbeat Japan Retail Trade numbers amid firmer yields and cautious optimism in the markets. That said, Australia’s seasonally adjusted Retail…
zhongguo/E+ via Getty Images While worries about a possible economic downturn have hurt most energy-related commodities, uranium is still glowing, as uranium spot prices have climbed ~18% so far this year, the Sprott Physical Uranium Trust (OTCPK:SRUUF) is up 8% and the Global X Uranium ETF (NYSEARCA:URA) has gained 6%. Some industry analysts think uranium has room to run higher, according to The Wall Street Journal’s Jinjoo Lee at “Heard On The Street”: BofA Global Research expects uranium spot prices will hit $75/lb by year-end 2025, while others see prices rising to ~$60 by then. One clear sign of a…
© Reuters. FILE PHOTO: The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed/File Photo By Michelle Price WASHINGTON (Reuters) – Big U.S. banks’ commercial real estate portfolios put in a surprisingly good performance during the Federal Reserve’s annual health checks, with losses declining slightly on last year, the central bank said on Wednesday. With risks growing in the commercial real estate (CRE) sector globally, analysts and investors were looking to the Fed’s “stress tests” for more insight on how exposed the country’s lenders are to falling real estate prices. Commercial real estate (CRE), especially offices,…