Author: FX
Share: GBP/USD is showing signs of volatility contraction despite the risk-on mood. Cable’s upside is restricted as UK’s high inflation has dampened its outlook while the downside is supported due to USD Index’s correction. BoE Bailey is expected to remain hawkish as UK’s core inflation has printed a fresh high of 7.1%. The GBP/USD pair is trading back and forth in a narrow range of 1.2700-1.2750 in the early London session. The upside in the Cable is restricted as higher inflationary pressures in the United Kingdom have dampened its economic outlook while the downside is supported due to…
Trend warriors gather ’round! GBP/USD may have gotten rejected from a psychological level but it looks like it’s heading for a key support zone! Is the pair gearing up for even more gains this week? GBP/USD 4-hour Forex Chart by TV I don’t know if you noticed, but GBP/USD has returned to making higher highs and higher lows since the start of the month when it bounced from the 1.2300 area of interest. The pair is now trading closer to 1.2800, a high that the pair had not seen since May last year. What makes Cable’s setup interesting today is…
RandyAndy101 Blackstone (NYSE:BX) is considering offers for half its stake in the real estate of the Bellagio casino in Las Vegas. The private equity firm is evaluating its options and hasn’t committed to a sale, according to a Bloomberg report, which cited people familiar with the matter. The Bellagio is operated by MGM Resorts (MGM), its original owner, under a long-term lease. Blackstone purchased the Bellagio real estate for $4.25 billion in 2019. The investment firm agreed to acquire the Bellagio real estate and lease it back to a subsidiary of MGM Resorts. The Bellagio report comes after Prologis on…
Market RecapWall Street added to recent losses overnight (DJIA -0.04%; S&P 500 -0.45%; Nasdaq -1.16%), as the moderation from previous overbought technical conditions and extreme bullish sentiments continues. Amid the relatively quiet US economic calendar to start the week, a series of downgrades in the technology space such as Alphabet and Tesla seem to take on much focus, triggering some profit-taking from its recent stellar outperformance. Market participants rotated into value sectors, with strength in real estate (+2.2%) and energy sector (+1.7%). The VIX is also up 6% as a sign of increased hedging activities on renewed caution.The day ahead…
© Reuters. FILE PHOTO: Coal is unloaded onto large piles at the Ulan Coal mines near the central New South Wales rural town of Mudgee in Australia, March 8, 2018. REUTERS/David Gray/File Photo BRISBANE (Reuters) – Australia’s critical minerals strategy does not need the sugar hit of more subsidies as good projects will find investment, but the country needs to hasten mine development timeframes and rework new workplace legislation, BHP’s CEO said on Tuesday. BHP CEO Mike Henry’s comments came a week after Australia, one of the world’s biggest suppliers of raw minerals, outlined a strategy on how it will…
A UBS note from Sunday on the weekend’s events on Russia (links below ICYMI).UBS says the coup attempt “appears over as soon as it began, there will be questions and suppositions about what all of this means for days and weeks to come”.As for crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both…
Share: No key reports are due during the Asian session. Later in the day, the US will report Durable Goods Orders and Canada will release inflation data. The ECB Forum will gather attention with many central bankers due to speak on Tuesday ahead of a panel on Wednesday that will include Powell, Bailey, and Lagarde. Geopolitics is also on the agenda. Here is what you need to know on Tuesday, June 26: Wall Street finished lower on Monday with the Nasdaq falling 1.16%, and Treasury yields declined. The US Dollar Index dropped modestly, closing around 102.75, on a…
NASDAQ 100 OUTLOOK:Nasdaq 100 trades lower on Monday, extending losses from the previous week and sliding more than 1% as bullish sentiment continues to waneDespite the recent pullback, the tech index is up more than 35% this yearThis article looks at key Nasdaq 100’s technical levels worth watching in the coming days Recommended by Diego Colman Get Your Free Equities Forecast Most Read: Japanese Yen Forecast – USD/JPY Pauses after Explosive Breakout. What Now?The Nasdaq 100 retreated on Monday, extending losses from the previous week, dragged down by heavy selling in the mega cap space. By way of context, Alphabet,…
Nordson to acquire ARAG Group for €960M Source link
The Reserve Bank of Australia will give its next monetary policy decision next week! Could this week’s Australian CPI report influence the central bank’s decision? Here are points to know if you’re planning on trading Australia’s annualized CPI data: Event in Focus: Australia Consumer Price Index (CPI) and inflation data for May 2023 When Will it Be Released: June 28, 2023 (Wednesday), 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Headline CPI y/y: +6.2% y/y forecast vs. +6.8% y/y previous Relevant Data Since Last Event/Data Release: Australia’s unemployment rate dipped…