Author: FX
Share: Buoyant US Dollar was the main reason for the AUD/USD’s fall. US inflation continues to cool down, while consumer sentiment deteriorated in March. TDS Analyst expects the RBA would keep rates on hold, on April’s meeting. AUD/USD Price Analysis: Subdued in the near term, awaiting for the RBA’s decision. The Australian Dollar (AUD) retraces after hitting a weekly high of 0.6738, spurred on the American Dollar (USD) recovery as it got bolstered by weekly, monthly, and quarter-end flows. Wall Street is set to finish the week with gains, while US inflation data could cement the case for…
CD Projekt S.A. GAAP EPS of €0.73, revenue of €213.18M Source link
Comments from the New York Fed President John Williams in a moderated discussion on the economic outlook.Economic outlook is uncertain, data will drive monetary policyExpects inflation to cool to 3.25% this yearUnemployment rate to tick up to around 4.5%Current banking problems aren’t an echo of 2008 eventsBanks are resilient and well capitalizedHave to put We’ve heard these comments before, he loves to tout economic data dependence. Source link
The lack of major data releases and central bank announcements steered the markets’ focus back to easing fears of global banking concerns and rising expectations of a less hawkish Fed. Risk-taking became the name of the game and volatile assets like Bitcoin, equities, and crude oil traded higher while safe-havens like USD and JPY lost ground. Notable News & Economic Updates: The U.S. Commodities Futures Trading Commission (CFTC) filed a lawsuit against Binance Holdings Ltd., the biggest cryptocurrency exchange in the world, and its CEO Changpeng Zhao for allegedly breaching derivatives laws. Crude oil jumped after the Iraqi federal government…
© Reuters. Stricter EV tax credit rules to take effect on April 18 By Michael Elkins The U.S. Treasury unveiled Friday stricter electric vehicle tax rules that will reduce or cut tax credits on some zero-emission models but grants buyers another two weeks before the new requirements take effect. The EV battery sourcing guidance issued Friday triggers new requirements for critical minerals and battery components and takes effect for vehicle purchases starting April 18. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and part of President Joe Biden’s effort to…
Share: XAG/USD surpasses monthly highs amid positive market sentiment, despite the rising US Dollar. US Core PCE was below estimates, opening the door for a less aggressive Fed. XAG/USD Price Analysis: Expected to continue its rally and test the YTD high of $24.63 Silver price trades at new monthly highs above $24.00 a troy ounce, sponsored by falling US Treasury bond yields. Sentiment continues to be the main driver in the session, with US equities set to finish the month with gains. At the time of writing, the XAG/USD is trading at $24.10, gaining 0.89%. Fed’s Collins welcomed…
Share: USD/CHF drops as US core PCE rose by 4.6% YoY, below the previous month. The University of Michigan’s Consumer Sentiment was below expected. USD/CHF Price Analysis: Presses toward 0.9100, but sellers struggle to break that support below. USD/CHF falls to a new weekly low below 0.9126, sponsored by economic data from the United States (US) showing that inflation is cooling down. Hence, bets that the US Federal Reserve (Fed) might pause its tightening cycle, increasing, meaning the greenback would be under pressure. At the time of writing, the USD/CHF is trading at 0.9127, below its opening price.…
Share: Gold price pulls back after spiking higher following lower-than-forecast US Personal Consumption Expenditure price data. Three Federal Reserve officials say more work needs to be done to bring down inflation. Never mind deposits, what about bank’s assets? Questions economist who sees crisis reviving and Gold exceeding $2,000. Gold may be forming a triangle in an uptrend. If ‘the trend is your friend’, bulls may be right. Gold price (XAU/USD) pulls back from its highs on Friday, exchanging hands in the $1,970s at time of writing, as the dust settles after the release of lower-than-expected Core Personal Consumption Expenditure – Price…
USDCAD retests the 100 day MAThe USDCAD has recently experienced a downward trend, nearing the crucial 100-day moving average (MA) at 1.35161. This level serves as an important indicator for both buyers and sellers, with the short-term bias leaning slightly positive if the price remains above this point. However, a drop below the 100-day MA would indicate a shift towards a more bearish outlook.Earlier today, the price briefly dipped below the 100-day MA, but failed to maintain downward momentum and subsequently rebounded. This upward movement surpassed a higher swing area between 1.3553 and 1.35597, but again, momentum waned, and sellers…
US Dollar (DXY) Price, Chart, and AnalysisUS core PCE nudge 0.1% lower to 4.6% in February.The US dollar slips but price action is muted for now. Recommended by Nick Cawley Traits of Successful Traders Inflation in the US is falling, according to the latest data from the Bureau of Economic Analysis(BEA). Core PCE (ex-energy and food) fell to 4.6% in February, compared to 4.7% in January, while the PCE price index fell to 5.0% compared to a revised 5.3% in January. The BEA PCE data is the Federal Reserve’s favored measure of inflation.For all market-moving data releases and economic events…