Author: FX
kritsapong jieantaratip/iStock via Getty Images The U.S. is weighing new restrictions on AI chip exports to China, the Wall Street Journal reported citing people familiar with the matter, as part of the final rules codifying the export control measures announced in October. The latest restrictions could be implemented as soon as next month, following Treasury Secretary Janet Yellen’s China visit to avoid angering Beijing. Leasing of cloud services to Chinese AI companies may also be restricted, the report said. Restrictions on U.S. investment in China and other geopolitical rivals are also being considered. Last year’s measures prohibited U.S. firms from…
Australia just printed weaker-than-expected inflation data, dampening hopes for an RBA hike next month. Can this spur triangle breakdown for AUD/JPY? On the hourly time frame below, you can see that the pair formed lower highs and found support around the 95.50 minor psychological mark. AUD/JPY 1-hour Forex Chart by TV The pair is now testing the bottom of its descending triangle, possibly considering a break lower. If that happens, AUD/JPY might be in for a selloff that’s the same height as the chart pattern, which spans close to 200 pips. Nearby support levels at S1 (94.89) and S2 (93.86)…
NZD/USD just got rejected from a downtrend resistance! Will this lead to the pair making new lows in the next few days? I’m looking at the daily chart for a bird’s eye view! NZD/USD Daily Forex Chart by TV As you can see, NZD/USD recently ended a weeks-long upswing after getting rejected at the .6250 area. And why not? Aside from being near the daily chart’s 100 SMA and the 61.8% Fib level, .6250 also lines up with a descending channel resistance that’s been around since late 2022. Does this mean that NZD/USD is headed for new yearly lows? Momentum…
AUD/USD is down 0.6% on the day to 0.6645 and it is mostly to do with the monthly inflation numbers here. That might be reason for the RBA to switch the dial on policy setting but it isn’t definitive I would say. Inflation remains well above the target band set out by the central bank and there are growing worries over its persistence, something which we are seeing in the UK especially.AUD/USD daily chartWhat’s troubling for the aussie at the moment is that the technicals are also corroborating with the latest downside momentum. There was a brief reprieve yesterday, after…
Share: Silver Price struggles to defend four-day uptrend, retreats from the highest levels in a week of late. Convergence of 200-EMA, 50% Fibonacci retracement challenges intraday XAG/USD bulls. Below 50.0 RSI suggests bottom-picking around the golden Fibonacci ratio. Multiple hurdles stand tall to challenge Silver buyers. Silver Price (XAG/USD) struggles to defend the four-day-old winning streak as it retreats from the weekly top surrounding $23.10 to $22.90 during early Wednesday. In doing so, the bright metal portrays the failure to cross the $23.00 key upside hurdle amid bearish MACD signals. However, the RSI (14) condition, which is below…
Overnight, market participants seem to take comfort from a series of stronger-than-expected economic data out of the US, with economic resilience being the takeaway and calmed some nerves for an impending recession. A pull-ahead in US durable goods (1.7% versus -1% expected), rebounding consumer confidence (109.7 versus 104 expected) and surging new home sales to its highest in more than a year were all well-received by Wall Street, with traction returning to mega-cap tech stocks (DJIA +0.63%; S&P 500 +1.15%; Nasdaq +1.65%).While economic resilience can build the case for tighter monetary policies, rate expectations thus far remain well-anchored for an…
© Reuters. Brazil’s former President Jair Bolsonaro gestures as he greets supporters at Salgado Filho International Airport, on the day the Electoral Justice begins the trial to determine his political rights, as he arrives in Porto Alegre, Rio Grande do Sul, Brazil RIO DE JANEIRO (Reuters) – Former Brazilian President Jair Bolsonaro, who is clinging to his political future after testing Brazil’s democracy to its limits in last year’s election, is back in electoral court for a second day of hearings on Tuesday. If Bolsonaro is found guilty of abusing his power last year for spreading falsehoods to ambassadors about…
ClaudioVentrella/iStock via Getty Images Chinese medtech Baird Medical (BDMD) plans to go public through a merger with SPAC ExcelFin Acquisition Corp. (NASDAQ:XFIN). The deal pegs the enterprise value of the combined company at $370M, with shares expected to trade on Nasdaq under the symbol BDMD. Headquartered in Guangzhou, Baird is a leading developer and provider of microwave ablation devices in China. The company is expected to report 2023 net income of $18M on revenue of $45M. For 2022, Baird reported revenue of $35M, according to the companies. More on healthcare SPACs: AUM Biosciences terminates merger with SPAC Mountain Crest V…
The European Central Bank conference in Sintra, Portugal broguth plenty of central bank speakers on Tuesday, links to comments can be found here:And the conference continues today with a heavy-hitter panel of Governors to come. The full agenda for Wednesday, 28 June 2023 is below, there are two many highlights to mention but I’ve underlined a few:more to come Source link
Share: GBP has been the market’s darling this week so far as the initial balance extends higher and higher. However, as the following charts illustrate, there could be a turnaround on the cards soon. Read More… The Pound Sterling (GBP) is looking for a break above the immediate resistance as the United Kingdom’s government looking beyond monetary tools to bring down stubborn inflation. The recovery in the GBP/USD pair has faded as the adaptation of new fiscal measures such as cutting wages of public sector employees by the British administration are losing their impact. The British government also asked companies to bring down profit…