Author: FX
UBS comments on gold, the TL DR version is analysts at the bank forecast:$2100 by the end of 2023$2200 by March of 2024 warn of near-term volatilityUBS cite:Gold tends to rise in periods when the US Dollar is weakeningDownside risks to the USD have risen alongside pricing of FOMC rate cutsin the near term, prices are likely to remain sensitive to shifts in investor risk sentiment and interest rate expectationsrally for gold has further to run in the quarters ahead: 1. further safe-haven flows are likely as uncertainty about the economic growth outlook continues; 2. the US Dollar looks set…
Share: FOMC minutes, US CPI events are weighing on the US Dollar. US Dollar bears are in the market and eye a break of temporary support. Bulls look for commitments for a correction from support. At 101.469 DXY, the US Dollar is being pressured on Wednesday following the Consumer Price Index (CPI) that increased in March at a slower-than-expected pace and minute from the FOMC´s March 21-22 meeting whereby the rate hike was widely viewed as dovish. DXY has dropped from a high of 102.15 to a low of 101.449 on the day so far. The FOMC minutes showed that the staff at…
Funtay/iStock via Getty Images Kaiser Aluminum (NASDAQ:KALU) -5.1% in Wednesday’s trading as Wolfe Research downgraded the stock to Underperform from Peer Perform with a $67 price target, citing “less confidence of end market resilience into a downturn.” Kaiser (KALU) shares trade at a premium multiple despite “stretched debt metrics” and the downside risk to the company’s non-aerospace end markets. Also, Fitch Ratings downgraded Kaiser’s (KALU) long-term issuer default rating to BB- from BB with a stable outlook, citing sustained pressures on the company’s EBITDA margins. Wolfe also downgraded Arconic (NYSE:ARNC) to Peer Perform from Outperform with a $29 price target,…
BANK OF CANADA DECISION KEY POINTS:Bank of Canada holds interest rates unchanged at 4.5%, in line with expectationsPolicy statement reiterates that the central bank is prepared to hike rates again if neededUSD/CAD whiplashes, but heads slightly lower after the announcement crosses the wire Recommended by Diego Colman Get Your Free USD Forecast Most Read: USD Breaking News – US Dollar on Offer After Mixed CPI ReportThe Bank of Canada concluded its April monetary policy meeting this morning, voting to leave its overnight interest rate unchanged at 4.50% for the second consecutive reunion – a decision that was broadly in line…
In the US debt market, yields are lower but off their lowest levels after the US CPI report:The US treasury will auction off 10 year notes at 1 PM ET (actually nine year 10 month notes as a re-open the older issue). Tomorrow the treasury will auction off the equivalent 30 year bonds (29 year and 10 month).In the forex, the AUD is the strongest and the USD is the weakest (at 9:45 AM ET). The strongest to the weakest of the major currencies Source link
In Psychology, being “in the zone” is more commonly referred to as “flow.” The concept was proposed by Mihály Csíkszentmihályi (try saying that out loud 3 times!), and he describes it as the state in which a person feels completely involved and fully focused on a particular task. More often than not, we overlook concentration as the primary factor behind this feeling and instead, associate it with superstition or rituals. This is particularly common among athletes who think that there’s a causal relationship between a particular circumstance and an outcome. For example, some of you may know that Michael Jordan…
Share: USD/CAD is trading little changed ahead of the BoC policy decision. In the meantime, charts turn mildly bearish for the pair, economists at Scotiabank report. BoC expected to leave its policy rate unchanged “No change in policy is expected. Even though the bar to higher rates remains high in Canada, the economy is still running quite hot (hotter than policymakers expected), meaning it is too soon to sound the “all clear” on the inflation fight. The policy statement is likely to reaffirm that the Bank is prepared to raise the policy rate further, if needed.” “US/Canada 2Y…
GOLD (XAU/USD) PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda DOWNLOAD THE RECENTLY RELEASED Q2 FORECAST FOR GOLD Gold (XAU/USD) FUNDAMENTAL BACKDROPThe Gold price has rallied higher in Asian trade with a session high of $2020.87 before surrendering some of those gains following the European open (trading at $2011.00 at the time of writing). The question of the sustainability of such a move however remains on the mind of market participants in what could prove to be a pivotal day for the precious metal.Gold found support at the pennant breakout on Monday before bouncing yesterday on the back of a…
Aftermath Silver announces C$7M private placement Source link
© Reuters. FILE PHOTO: A logo of Mercedes-Benz is seen outside a Mercedes-Benz car dealer in Brussels, Belgium March 13, 2023. REUTERS/Yves Herman/File Photo (Reuters) – Mercedes-Benz Group sales rose moderately in the first quarter of this year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday. Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%. EVs were the main growth driver in the quarter, with sales almost doubling to 51,600 units. The top-end segment – which includes models such as AMG, Maybach and G-class – also demonstrated solid…