Author: FX
© Reuters. Shopify (SHOP) Announces Google Cloud AI Integration Brings Advanced Ecommerce Capabilities to Retailers and Merchants Worldwide Ahead of Shoptalk 2023, one of the retail industry’s most important events, Shopify Inc . (NYSE:)(SHOP) and Google Cloud today announced a new integration that enables retailers using Commerce Components—Shopify’s enterprise retail solution—to leverage Google-quality search capabilities and AI innovations. Enterprise brands on Shopify can today access Google Cloud’s Discovery Al solutions directly through Commerce Components, Shopify’s modern, composable stack for enterprise retail. This integration, which can now be used by Shopify merchants globally and is available in most languages, increases access…
BoE RATE DECISION KEY POINTS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Bank of England have hiked rates by 25 bps as expected with BoE policymakers Tenreyro and Dhingra voting to keep rates on hold. The BoE stated that Q2 CPI is likely to be lower than forecast in February due to longer energy price caps and lower wholesale prices while expressing their belief that the recent increase in inflation data may not be long-lasting. The strong core goods prices in February were attributed…
Mean reversal trading strategies using a band or channel type of technical indicator is one of the most basic ways many traders trade the market. It is a simple trading method which assumes that price is either too high or too low as it reaches certain price levels using a band type of technical indicator. GRF Leading Edge Indicator The GRF Leading Edge Indicator is a band or channel type of technical indicator which indicates the distance between the current price and the average price of a tradeable instrument. This indicator is somewhat similar to other band type of indicators…
USDJPY Analysis and ChartsUSD/JPY fell sharply after the Fed on WednesdayThe prospect of fewer rate hikes ahead clearly weighed on the GreenbackMajor Japanese businesses remain gloomy, data showed Recommended by David Cottle How to Trade USD/JPY The United States Dollar remained close to seven-week lows against the Japanese Yen as European trade got underway on Thursday. A bout of broad Dollar weakness has followed the Federal Reserve’s decision to raise interest rates again,While this may seem a little counterintuitive, as higher interest rates might be generally expected to support a currency, the Fed weighed in with some more cautious commentary…
US Dollar (DXY) Price and Chart AnalysisIs the US rate hiking sequence coming to an end?Fed chair Powell highlights tighter credit conditions. Recommended by Nick Cawley Trading Forex News: The Strategy A look at the latest Fed Fund rate probabilities currently suggests that the Federal Reserve has raised interest rates for the last time in its battle against above-target inflation. While these probabilities constantly change, and inflation remains uncomfortably high and sticky, chair Powell said that the FOMC had discussed leaving interest rates unchanged yesterday due to the recent banking crisis. In his statement, chair Powell said,‘In assessing the appropriate…
Share: The Central Bank of Brazil (BCB) remained on hold and disappointed dovish longings. Economists at TD Securities expect the rates curve (OD futures curve) and BRL to react to a hawkish BCB by delaying prospects for first cuts towards Q3 and strengthen against the USD towards 5.15 levels, respectively. BCB remains hawkish and vigilant “BCB remained on hold and disappointed dovish longings, as we expected. The central bank kept its hawkish profile justified by higher inflation forecasts, unanchored inflation expectations, and financial-market volatility.” “We expect markets to partially fade prospects of rate cuts in Q1 and Q2.…
NZD/CHF pulled back to a key inflection point right after the SNB raised its interest rates! Will the pair see new intraweek highs today? Before moving on, ICYMI, yesterday’s watchlist looked at NZD/JPY approaching a falling wedge resistance ahead of the FOMC event. Be sure to check out if it’s still a valid play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: EIA: crude oil inventories rose by 1.117M barrels from the previous week vs. 1.565M-barrel drawdown expected. Gasoline and distillate stockpiles showed deep drawdowns. ECB President Lagarde…
Stocks continue month’s downward spiral! Wall Street reversed gains to close with declines of -1.6%, but the slump was a function of comments from Treasury Secretary Yellen rather than the Fed. FOMC hiked 25 bps as expected, 2023 median dot left unchanged at 5.125%. “The Committee anticipates that some additional policy firming may be appropriate,” rather than “ongoing increases in the target range will be appropriate.”- suggesting less than a 50-50 risk for another quarter point move! Even though Powell began his press conference reiterating the banking system is “sound and resilient” and assured the…
Remember when the Bank of England (BOE) said that it would look for signs of “persistent inflationary pressures?” Well, the U.K. recently printed its latest consumer prices and hoo boy did it surprise to the upside. Annualized CPI came in at 10.4% y/y in February, higher than the expected 9.9% uptick and the 10.1% reading in January. Not surprisingly, the stickiness of high inflation in the U.K. got the markets backing down from their “peak rate” bets for the BOE. GBP/USD 1-hour Forex Chart by TradingView Meanwhile, the Fed has shifted its rate hike narrative from anticipating “ongoing rate increases”…
Bounce or break? USD/CAD and GBP/NZD are currently testing support zones on their hourly charts. Will buyers return soon? GBP/NZD 1-hour Forex Chart by TradingView Let’s start off with this trend channel play on the 1-hour chart of GBP/NZD. The pair is in the middle of a correction and is down to the mid-channel area of interest. Now this happens to be right smack in line with the 38.2% Fibonacci retracement level at the 1.9650 minor psychological mark. If this is enough to attract strong buying pressure, price could resume the climb to the swing high near the 1.9800 handle…