Author: FX
2/2 © Reuters. FILE PHOTO: A view of the European Central Bank (ECB) headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo 2/2 By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank is all but certain to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open to more hikes, extending its fight against high inflation even as the euro zone economy flags. Growth across the 20 countries that share the euro is at best stagnating and inflation has been moderating for months, courtesy of lower energy prices and…
Missed that inverted head and shoulders neckline breakout on bitcoin? Price might still be in for a quick retest before resuming the reversal, so better keep your eyes on these support levels. BTC/USD Daily Chart by TV Bitcoin bulls have been on the retreat lately, but it looks like more buying energy could kick in at these Fibonacci retracement levels. The 50% to 61.8% Fibs span an area of interest lining up with the broken neckline of the reversal chart pattern, so this might hold as a strong support zone. To top it off, the 61.8% retracement at $24,100 coincides…
At 1535 GMT, which is 1135 US Eastern time:Bank of England Deputy Governor Jon Cunliffe takes part in a discussion on central banks and the future of payments at the Politico Global Tech SummitThat doesn’t sound like he’ll have much to say on his economic or policy outlook, but perhaps there will be a Q&A with him. The Bank of England meet next week: Source link
Share: USD/MXN prints the first daily gains in three, bounces off the lowest levels since 2016. Immediate resistance break joins upbeat oscillators to favor short-term pair buyers. Mexican Peso sellers need to conquer 200-HMA to topple bulls. USD/MXN grinds near intraday high of around 17.20 as it prod the 50-Hour Moving Average (HMA) during the first positive day in three on early Thursday. In doing so, the Mexican Peso (MXN) pair defends the late Wednesday’s rebound from the lowest levels since 2016. That said, a clear break of the previous resistance line stretched from Tuesday joins bullish MACD…
Market RecapThe conclusion of the June meeting has seen the Federal Reserve (Fed) keeping rates on hold at 5.00%-5.25% in a widely-anticipated move, but there is less conviction for markets that today’s move will mark the end of its tightening campaign.A hawkish takeaway came from the Federal Open Market Committee (FOMC) dot plot, with peak rate for 2023 revised to 5.6% from previous 5.1%, which suggests another 50 basis-point (bp) of tightening by the end of this year. Rate forecasts for 2024 and 2025 were revised upwards as well, which seems to put a high-for-longer rate outlook on the horizon.…
LaylaBird/E+ via Getty Images BTIG has initiated coverage of eye drug developer Viridian Therapeutics (NASDAQ:VRDN) with a buy rating, citing its drug candidate for the treatment of thyroid eye disease, or TED. The investment bank said in a note that it sees the product, VRDN-001, as a strong potential competitor to Horizon Therapeutics’ (NASDAQ:HZNP) Tepezza, the current market leader. It noted that Tepezza generated $1.97B in net revenue for fiscal 2022, with peak sales estimated at more than $4B. BTIG added that it sees the the stock’s current “underperformance” as an “attractive entry point” ahead of the expected release of…
The nonprofit Human Rights Foundation (HRF) has launched a central bank digital currency (CBDC) tracker, the organization announced at the same Oslo Freedom Forum event it hosts. The online tracker has published educational materials and a tip line. It is expected to become fully functional by year-end. The tracker came out of an eight-month fellowship at the HRF that was announced in January. The fellowship was awarded to Cato Institute policy analyst Nick Anthony, researcher Janine Romer and podcaster Matthew Mezinskis. The Cato Institute is an ardent opponent of CBDCs. Continue Reading on Coin Telegraph Source link
The International Energy Agency issued its monthly report on Wednesday. IEA executive director Fatih Birol comments in the report said he expects oil demand will “slow almost to a halt” in the years ahead, citing the pivot away from fossil fuels accelerating. “The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance”I wonder if his view is just following the oil price lower? Where were such comments when it was surging? Source link
Share: Natural Gas rises as analysts fear supply shortages and hotter weather over the summer. US Dollar reverses after June FOMC meeting despite Fed not hiking, as Fed officials signal more hikes may be on the horizon. The technical picture is still long-term bearish, although price action throughout most of 2023 has been broadly sideways. Natural Gas price is trading almost 1% higher on Wednesday as traders fret about possible supply constraints pushing prices up over the summer. Forecasts of hotter weather and supply outages at key fields in Norway – despite robust storage figures – are having the effect…
On Friday, it’ll be the Bank of Japan’s turn to announce their monetary policy decision. Will they shift their tone this time? And if so, how can this affect JPY pairs? Here are the important points you need to know if you’re planning on trading the news: Event in Focus: Bank of Japan (BOJ) Monetary Policy Statement When Will it Be Released: June 16, Friday: tentatively 3:00 am GMT BOJ Governor Kazuo Ueda will hold a press conference after the announcement. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: BOJ to keep policy rate…