Author: FX
EUR/USD Technical Forecast: Unattractive Price Action for NowThe euro pushed higher against the U.S. dollar during the first quarter of 2023 and briefly reached its best level since April 2022 in early February. When risk-off mood erupted in global markets, sellers returned, preventing EUR/USD from clearing the 1.1035 area, a major technical ceiling defined by the 50% Fibonacci retracement of the 2018/2022 decline.EUR/USD has lacked strong bullish conviction but has retained a modest positive bias since late 2022 after overcoming its 200-day simple and breaking above long-term trendline resistance. Its slow upward trek, however, has not been impressive, with the…
The retail trading market, including day trading Day Trading Day trading is the buying and selling of a financial instrument, (such as currencies, commodities, shares), within a single trading day.This is done with the intention of making a short-term profit from the fluctuation of that particular instrument. Day trading is most popular in the foreign exchange market (forex), and to a lesser extent with stocks and shares. The reason why forex trading lends itself so well to day trading is due to its 24 hours a day, 5 days a week trading time.Additionally, Day trading is the buying and selling…
US regional banks will have a challenging start to the new week after struggling First Republic announced late on Friday that it was suspending dividend payments on preferred shares. The company said it was “as a measure of prudent oversight” but cutting the prefs is a desperation move. It was fear of Citigroup cutting its preferred the kicked off a round of the financial crisis and an eventual government bailout.Shares of FRC closed Thursday at $14.03 from a high of $147.68 in February. The problem with that share price is that it’s still too high to fold the company into…
MON: Easter Monday – US Markets Open, Japanese Trade Balance (Feb), EZ Sentix Index (Apr).TUE: IMF World Economic Outlook, EIA Short-Term Energy Outlook, Chinese Inflation (Mar), Norwegian CPI (Mar), EZ Retail Sales (Mar).WED: FOMC Minutes, BoC Announcement, US CPI (Mar).THU: OPEC Oil Market Report, Australian Jobs Report (Mar), Chinese Trade Balance (Mar), UK GDP Est. (Feb), US PPI (Mar).FRI: EIA Oil Market Report, Swedish CPI (Mar), US Retail Sales (Mar), US University of Michigan Prelim. (Apr).NOTE: Previews are listed in day-orderChinese Inflation (Tue): Chinese CPI is expected to have picked back up in March, with the Y/Y expected to tick…
JAPANESE YEN KEY POINTS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter JAPANESE YEN Q1 RECAPThe Japanese Yen has had an interesting Q1 to say the least with the Yen starting the quarter looking vulnerable against the Greenback. The US Federal Reserve looked set to continue on an aggressive hiking cycle while the Bank of Japan looked set to continue down its easy monetary policy path.February turned out to be a difficult month for the Yen as it posted steep losses against the US Dollar. The…
Neilson Barnard/Getty Images Entertainment New content is proving to still be king in streaming, as Netflix (NASDAQ:NFLX) is showing in the latest numbers. The streaming leader topped ratings with three originals, bolstered by new episodes. Five more episodes in the newest season of Netflix’s You led it to log 1.35B minutes streamed and top Nielsen’s latest weekly ratings (for the week of March 6-12). It was followed on the overall list, though, with two more Netflix originals (Outer Banks, with 1.227B minutes, and MH370: The Plane that Disappeared with 1.165B minutes) ahead of HBO Max (NASDAQ:WBD) entry The Last of…
© Reuters. FILE PHOTO: Migrants stand near the border wall after crossing the Rio Bravo river with the intention of turning themselves in to the U.S. Border Patrol agents, as seen from Ciudad Juarez, Mexico March 30, 2023. REUTERS/Jose Luis Gonzalez By Ted Hesson WASHINGTON (Reuters) – The Biden administration next week will begin testing faster asylum screenings for migrants caught crossing the U.S.-Mexico border illegally, the Department of Homeland Security said on Saturday, part of preparations for the end of COVID-19 border restrictions in May. U.S. asylum officers will conduct initial asylum screenings for a small number of migrants…
SOXL and NUGT among ETF weekly movers Source link
British Pound Q2 2023 Technical Forecast: Recommended by Nick Cawley How to Trade GBP/USD The British Pound’s technical outlook is neutral with the UK currency likely to be relatively stable to marginally firmer over the coming weeks. And that means we need to look at the dynamics of other major currencies to see if there are any potentially attractive set-ups against Sterling. Two currencies spring to mind, the US dollar and the Euro.Both the US Federal Reserve and the Bank of England have hiked rates over the last year, keeping the interest rate differential between the two currencies roughly equal.…
© Reuters. FILE PHOTO: Malaysian Prime Minister Anwar Ibrahim attends a wreath-laying ceremony at Rizal Park, in Manila, Philippines, March 2, 2023. REUTERS/Lisa Marie David KUALA LUMPUR (Reuters) – Malaysia said on Saturday it was firmly committed to protecting its sovereign rights and interests in the South China Sea after China expressed concern about Malaysian energy projects in a part of the sea that China also claims. Malaysian Prime Minister Anwar Ibrahim said on Tuesday China was worried about activity by the state energy firm Petronas in a part of the South China Sea that Malaysia says is its territory.…