Author: FX
Crude Oil, WTI, Brent, US Dollar, Treasury Yields, Fed, AUD, NZD – Talking PointsCrude oil has paused in its run higher after US data disappointedThe US Dollar and Treasuries rallied as perceived haven assets were boughtIf more data is delivered to the downside, where will WTI go? Recommended by Daniel McCarthy Get Your Free Oil Forecast Crude oil dipped today after US data revealed a potentially softening economy, raising the spectre of a possible looming recession in the world’s largest economy. The data can be viewed here.The US Dollar strengthened into the New York close yesterday and continued to gain…
China services PMI climbs to 28-month high in March amid post-covid optimism Source link
Missed the bearish triangle break on USD/CHF? You might still have a chance to catch the retest of the former support if you’re thinking of shorting! Here are the pullback levels I’m watching. USD/CHF 1-hour Forex Chart by TradingView Retracement alert! After breaking below its descending triangle bottom, USD/CHF looks prime for a pullback to the broken support zone. This happens to be right around the 61.8% Fibonacci retracement level and 100 SMA dynamic inflection point, adding to its strength as a potential ceiling. A shallow pullback might already find sellers at the 38.2% Fib around the .9080 level or…
People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 6.8770PBOC injects 8bn yuan in open market operations (OMOs) via 7 day reverse repos (RRs) at an unchanged rate of 2%439bn yuan of RRs mature todaythus a net drain of 431bn yuan-eur This article was written…
Share: USD/CAD has locked in a tight range ahead of the US/Canada labor market data. The tight US labor market is cooling down as firms have eased their recruitment process. Canada’s Employment Change is seen at 12K and the Unemployment Rate might escalate to 5.1%. The USD/CAD pair corrected below 1.3450 in the early Asian session as the US Dollar Index (DXY) showed a loss in the upside momentum after reaching to the critical resistance of 102.00. The Loonie asset is expected to deliver a power-pack action as investors are awaiting the release of the United States/Canada Employment…
Braemar Hotels & Resorts declares $0.05 dividend Source link
GOLD FORECAST:Gold prices struggle for direction as traders look for fresh market catalystsDespite Wednesday’s price action, the precious metal retains a bullish outlookThe March U.S. jobs report will help set the trading tone for XAU/USD in the near term Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Canadian Dollar Outlook: USD/CAD Bounces Off Trendline Support as Haven Flows Pick UpGold prices (XAU/USD) wavered and lacked directional conviction on Wednesday, fluctuating between small gains and losses around the $2,035 level, as traders paused to wait for new drivers that could set the near-term trading bias for precious metals.…
© Reuters. FILE PHOTO: ChatGPT logo is seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Byron Kaye SYDNEY (Reuters) – A regional Australian mayor said he may sue OpenAI if it does not correct ChatGPT’s false claims that he had served time in prison for bribery, in what would be the first defamation lawsuit against the automated text service. Brian Hood, who was elected mayor of Hepburn Shire, 120km (75 miles) northwest of Melbourne, last November, became concerned about his reputation when members of the public told him ChatGPT had falsely named him as a guilty…
Two-year down -14.7 basis points Yields have moved sharply lower after the weaker than expected ISM services data. Prices paid lowest since May 2020.The 10 yield has moved to a new low for the year and trading at the lowest level since September 2022US stocks are marginally lower from pre-release data so far:The markets are pricing in 100 basis point of cuts between now and January 2024. Meanwhile Fed’s Mester said last night that the Fed is looking at inflation, demand decline but she still expects to move at rates above 5% and keep them there for a long while.…
Trend reversal strategies are a very lucrative type of trading strategy. This is because trading trend reversals implies that traders are entering the market at the beginning of a trend, with the hope of exiting the market near the end of a trend. Seasoned trend reversal traders earn huge profits trading trend reversals because they could trade with very high risk-reward ratios due to the nature of trend reversal strategies. Although trend reversal strategies could produce high yielding trades, anticipating such trend reversals could prove to be tricky. What traders need is a systematic trading strategy which should allow them…