Author: FX

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 losses were compounded by the rising odds for a higher peak rate from the US Federal Reserve as US data came in better than expected for…

4/4 © Reuters. A sketch drawn by Kris Kashtanova (L) that the artist fed into AI program Stable Diffusion and transformed into the resulting image (R) using text prompts. Courtesy of Kris Kashtanova/Handout via REUTERS 2/4 By Tom Hals and Blake Brittain (Reuters) – Last year, Kris Kashtanova typed instructions for a graphic novel into a new artificial-intelligence program and touched off a high-stakes debate over who created the artwork: a human or an algorithm. “Zendaya leaving gates of Central Park,” Kashtanova entered into Midjourney, an AI program similar to ChatGPT that produces dazzling illustrations from written prompts. “Sci-fi scene…

XPeng announces vehicle delivery of 7,002 in March Source link

Vitalij Sova Bitcoin (BTC-USD) is on track for weekly gains of more than 3.5%, with the world’s largest cryptocurrency by market capitalization briefly crossing the $29K mark earlier in the week to hits its highest level since June last year. The advance has been due to a combination of factors, chief among them a renewed interest among investors in risky assets and growth areas such as technology stocks in the wake of shaken confidence in the traditional banking sector. Hopes of the Federal Reserve possibly ending its rate-hiking cycle have also helped sentiment. However, bitcoin (BTC-USD) began the week on…

Today is quarter end. The USD is ending the quarter mixed with declines vs the EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR)…

Share: A triple bottom in the EUR/USD daily chart remains in play but at a brisk of being negated. EUR/USD’s price action during the last couple of weeks created a double top, which could shift the pair’s bias. The Euro (EUR) drops from around weekly highs of 1.0925 on a buoyant US Dollar (USD) and on buyers’ failure to crack the YTD high at 1.0929. Nevertheless, a triple bottom in the daily chart is intact, at the brisk of being negated. At the time of writing, the EUR/USD is trading at 1.0842. EUR/USD Price action Failure to hold…

Share: US Department of Commerce reported that PCE was below estimates, spurring speculations for a Fed shift. Oil prices rise after output reduction at several oilfields in northern Iraq’s Kurdistan region. Western Texas Intermediate (WT), the US crude oil benchmark, is set to finish the week with more than 9% gains after touching a YTD low of $64.41. On Friday, WTI is trading at $75.60 PB, above its opening price by 1.74%. Wall Street finished the week with substantial gains. Inflation data in the United States (US) reported by the Department of Commerce showed that Personal Consumption Expenditure…

Share: After the release of the March Core Persona Consumption Expenditure Price Index, analysts at Wells Fargo still expect the Federal Reserve (Fed) to hike interest rates by 25 bps at its May monetary policy meeting. Inflation moderates, but Fed’s job not yet done “Inflation is slowing, but only gradually. The core PCE deflator rose slightly less than expected, up just 0.3% in February, and inflation data for January were revised lower as well. This is a positive development, but a win can’t yet be declared.” “The Fed has further work to do to get inflation back to…

Markets:Gold down $10 to $1970WTI crude oil up $1.14 to $75.51US 10-year yields down 1 bps to 3.48%S&P 500 up 58 points to 4110CAD leads, EUR lagsWhen I think about this market, we came into January and everyone was worried about recession. By January, it was fears of inflation and in March there was a bank panic. Add it all up and it’s +7% in the S&P 500 and 16% in the Nasdaq. They say that bull markets climb a wall of worry and that’s a powerful example.On Friday, the flows were a big factor but the bias towards risk…

For the first quarter, the NASDAQ index led the way with an oversized gain of 16.77%. That was the largest percentage increase since the 2Q of 2020 when the index rose 30.63%. You have to go back to the 1Q of 2012 to have the next largest percentage gain for quarter.Looking at the NASDAQ daily chart, the price is within 49 points of the most recent highs going back to September 12, 2022 and February 2, 2023 near 12670. A move above that double top would have traders targeting the 38.2% retracement of the move down from the November 22…