Author: FX
USD/JPY Analysis Recommended by Richard Snow Get Your Free JPY Forecast Final BoJ Meeting for Outgoing Kuroda, NFP and Average Hourly EarningsHaruhiko Kuroda will preside over his final Bank of Japan policy meeting tomorrow after the Japan’s lower house approved the nomination of Kazuo Ueda. Ueda is expected to be approved by the upper house tomorrow and will chair his first policy meeting at the end of April.After initially hawkish comments, Ueda has been seen to backtrack on indications that the status quo will be changed soon after his appointment. He has however mentioned that a change in policy will…
Bitcoin prices are heading for another solid weekly loss, as markets adjust to the prospect of more aggressive monetary tightening, which is expected to dampen world growth and demand this year. Concern over aggressive central bank action after Powell’s 2-day testimony is weighing on the growth outlook and supporting haven flows, but dealt a blow to Gold and Bitcoin, as the US Dollar was back in demand. According to CoinShares, investments in crypto funds fell by $17 million last week, the fourth consecutive week of outflows— investments in Bitcoin funds fell $20 million, while Ethereum rose by $0.7 million. Investments…
Nina Shatirishvili/iStock via Getty Images KeyBanc Capital Markets upgraded VICI Properties (NYSE:VICI) to an Overweight rating from Sector Weight, while pushing Gaming and Leisure Properties (NASDAQ:GLPI) down to a Sector Weight rating from Overweight. Analyst Todd Thomas and team see potential for an improving internal growth outlook for VICI materializing amid the higher inflationary backdrop and pointed to the potential for a higher level of accretive investment activity. Those factors are seen helping push 2023 and 2024 estimates higher on VICI and create a performance gap with GLPI and other real estate REITS. A key point to watch in the…
Supports and Resistances are key levels in which traders should look out for. These are levels in which price tends to find it difficult to break through. There are several scenarios which couple of scenarios which often take place on valid support and resistance areas. At times, price would break through such areas. This scenario is called a momentum breakout condition which can occur as a breakout from a resistance level or a breakdown from a support level. Often times, price would bounce off these levels. Price would often reverse back down as it hits a valid resistance level or…
Trending markets can provide excellent trading opportunities because it is easy to identify the direction where the market is moving. Traders simply need to identify the direction of the trend and trade in that direction. After doing so, traders should then identify the entry level where they would want to open a trade. Pullbacks are great options as it allows traders to enter a trending market at a near optimum price level. This trading strategy shows us how we can trade pullbacks on a trending market using the RSI of MACD Double indicator. RSI of MACD Double Indicator The RSI…
© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks as he attends a Democratic National Committee rally at Richard Montgomery High School in Rockville, Maryland, U.S., August 25, 2022. REUTERS/Jonathan Ernst By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden will travel to the swing-state of Pennsylvania on Thursday to unveil a federal budget plan laden with spending proposals and higher taxes on the wealthy that will form a blueprint for his expected 2024 re-election bid. Biden’s proposal, which resurrects many items stripped from last year’s budget plan, faces even stiffer opposition in Congress this year, after Republicans…
The damage from the Fed has been done and fears of an upshift to a faster pace of rate hikes this month, along with an even higher terminal rate and for a longer period of time, saw yields cheapen further. ADP and JOLTS showed a still hot labor market. USD steady at 105.60, Treasury yields nudged higher overnight, as did JGB rates ahead of the current BoJ meeting.The curve inverted further to -108 bps from -104.8 bps Tuesday, the most inverted since 1981. BOC left the policy rate unchanged at 4.50%, a tie for the…
Bitcoin is now trading below the $22K mark! Will there be enough buyers in the next support zone to stem BTC/USD’s downtrend? Earlier this week, risk assets like Bitcoin (BTC/USD) took hits after Fed Chairman Powell hinted of even higher interest rates and longer periods of higher interest rates. It also didn’t help that Silvergate Capital, a major lender to the crypto industry, has announced that it will wind down its operations and undergo “voluntary liquidation” that includes “full repayment of all deposits.” This comes after the company saw a “recent turmoil” and the “digital asset industry underwent a transformational…
Dollar pairs keep making big moves lately, so I’m looking to catch these pullbacks on USD/JPY and GBP/USD. Cable looks ready to retest a broken support zone while USD/JPY might be in for a channel correction. GBP/USD 1-hour Forex Chart by TradingView Missed the bearish break on Cable lately? You might still have a chance to catch a quick pullback if this pair retraces to the former support zone around the 1.1950 minor psychological mark. This happens to be in line with the 50% Fib and 100 SMA dynamic inflection point, which could attract more sellers. If so, GBP/USD could…
<p>Coming up later today at 1500 GMT:</p><ul><li>1000 US Eastern time</li><li> Federal Reserve Vice Chair for Supervision Michael Barr speaks on "Crypto" before the Peterson Institute for International Economics</li></ul><p>"Crypto"? That's what it says folks:</p> This article was written by Eamonn Sheridan at www.forexlive.com. Source link