Author: FX

Share: USD/CHF remains sidelined within the key DMA envelope amid pre-Fed inaction. Clear downside break of previous support line, U-turn from multi-day-old resistance underpin bearish bias. Looming bear cross on MACD adds strength to the downside hopes. Swiss Franc bears need acceptance beyond 0.9130 to keep the reins. USD/CHF aptly portrays the pre-Fed anxiety as it makes rounds to 0.9050 heading into Wednesday’s European session. In doing so, the Swiss Franc (CHF) pair dribbles between the 50-DMA and the 100-DMA while paring the weekly gains of late. It should be noted that the impending bear cross on the…

Here’s one for the gold bugs out there! The precious metal is back in consolidation mode, and it looks like a breakout is due soon. On the hourly time frame below, you can see that XAU/USD formed lower highs and found support around $1,940 to create a descending triangle pattern. Gold (XAU/USD) 1-hour Chart by TV Price is currently testing the triangle support once more, still deciding whether to make another bounce to the resistance or go for a break lower. Note that this floor has been holding for more than a couple of weeks already, so gold bulls might…

Market RecapMajor US indices continue to add to recent gains overnight (DJIA +0.43%; S&P 500 +0.69%; Nasdaq +0.83%), as further cooling in US inflation reflects some degree of success in policy moves thus far and provides room for the Federal Reserve (Fed) to put on some wait-and-see at the upcoming Federal Open Market Committee (FOMC) meeting. An almost-certain 90% probability that rates will be put on hold this week is being priced by the Fed Funds futures, although expectations still largely lean towards a 25 basis-point (bp) upward adjustment in rates in July.A 0.4% increase in core inflation from the…

© Reuters. FILE PHOTO: Gasoline pumps with Shell’s logo are seen at a petrol station in South East London, Britain, February 2, 2023, REUTERS/May James (Corrects paragraph 1 to say prices inched lower not higher) By Arathy Somasekhar (Reuters) -Oil prices inched lower on Wednesday after industry data showed an unexpected rise in stocks, signalling weak demand to markets already worried about recession and disappointing Chinese economic data. futures eased 27 cents, or 0.4%, to $74.01 a barrel by 0019 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.13 a barrel, down 29 cents, or 0.4%. Both benchmarks climbed…

David Becker/Getty Images Entertainment Microsoft’s (NASDAQ:MSFT) planned $69 billion acquisition of Activision was temporarily blocked by a federal judge after a Federal Trade Commission request on Monday. A federal judge in San Francisco granted the FTC’s request for a temporary restraining order to block Microsoft (MSFT) from completing its purchase of videogame giant Activision, according to a court filing late Tuesday. An evidentiary hearing on on the preliminary injunction is scheduled for June 22 and June 23. The FTC made the request for the temporary block and a preliminary injunction on Monday out of concern that Microsoft (MSFT) planned to…

This is based on the probabilities of changes to the Fed Funds rate and U.S. monetary policy, as implied by 30-Day Fed Funds futures pricing data.For the June meeting, later today on Wednesday, 14 June 2023 its showing 100% for no change, for Fed Funds to stay in the 5 – 5.25% range. The July meeting, however, is still very much live at this stage:By the time the July meeting comes around we’ll have had another CPI reading for the US. This is likely to show inflation falling further, so I expect that pricing will move towards another ‘no change’…

Share: GBP/USD retreats from the highest levels in five weeks as UK monthly data dump, Fed decision loom. Overbought RSI, failure to cross fortnight-old resistance line and Doji candlestick challenge the Cable buyers. Golden Fibonacci ratio, 200-SMA and bullish MACD signals put a floor under the Pound Sterling prices. GBP/USD fades upside momentum at a multi-day high on the key day comprising the US Federal Reserve (Fed) verdict and the monthly UK data dump. That said, the Cable pair remains dicey near 1.2600 after rising the most in a week to prod the highest level since May 11…

U.S. Bancorp declares $0.48 dividend Source link

US DOLLAR FORECAST:U.S. dollar, as measured by the DXY index, slides as traders await critical FOMC decisionMay U.S. inflation data has increased the probability of a Fed pause in the June meeting, but the tightening cycle may not yet be overPolicymakers’ guidance and macroeconomic projections will help set the US dollar’s trading bias in the coming days and weeks Recommended by Diego Colman Get Your Free USD Forecast Most Read: S&P 500 Forecast – Bulls Energized after US CPI. Will the Fed Play Spoiler?The U.S. dollar, as measured by the DXY index, weakened on Tuesday amid market caution ahead of…

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:              Enrich the conversation, don’t trash it.           Stay focused and on track. Only post material that’s relevant to the topic being discussed.            Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user.…