Author: FX
Gold Price (XAU/USD) Analysis, Price, and ChartThe Fed is looking set to leave interest rates unchanged next week.Hefty US T-Bill issuance may push short-term rates higher. Recommended by Nick Cawley How to Trade Gold For all market-moving data releases and events, see the DailyFX Economic CalendarGold extends Friday’s post-NFP sell-off and is testing a cluster of recent lows that if broken will leave the precious metal vulnerable to further losses. The US dollar is pushing higher despite a growing feeling in the market that the Federal Reserve will not raise rates at this month’s FOMC meeting, instead deciding to pause…
Fusion Fuel Green reports Q1 results Source link
© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 2, 2023. REUTERS/Staff By Shreyashi Sanyal (Reuters) -European shares were flat on Monday as markets struggled to hold on to the tailwind from a rebound seen last week, while London stocks led regional gains following upbeat performances by energy firms on the back of higher oil prices. The pan-European index held near 462.5 points, trading barely within a three-point range, while London’s , housing Europe’s top oil companies, led gains with a 0.5% climb. The European oil & gas…
UPCOMING EVENTS:Monday: US ISM Services PMI.Tuesday: RBA Policy Announcement.Wednesday: BoC Policy Announcement.Thursday: US Jobless Claims.Monday: The ISM Services PMI is expected to come a tick lower at 51.8 vs. 51.9 prior. The market will focus particularly on the prices paid side as core inflation remains stickier much above the Fed’s 2% target with the manufacturing sector contracting and the services one expanding. The S&P Global PMIs have been leading the ISM reports lately and last month the Services PMI surprised with a big beat, so the expectations for the ISM report should be skewed to the upside.Tuesday: The RBA is…
Share: AUD/USD extends recovery from intraday low within bullish chart formation. China Caixin PMI, Australia TD Securities Inflation came in firmer for May. Sustained trading beyond key moving averages, upbeat RSI hints at confirmation of bullish pattern. Bull flag signals theoretical target of 0.6750, sellers need validation from 200-SMA. AUD/USD picks up bids to pare intraday losses around 0.6700 as it struggles to cheer upbeat catalysts at home amid early Monday in Europe. In doing so, the Aussie pair portrays the traders’ anxiety ahead of the key Reserve Bank of Australia (RBA) data. That said, strong US Nonfarm…
US Dollar, DXY Index, USD, OPEC+, WTI, Brent, Crude Oil, Debt Ceiling – Talking PointsThe US Dollar held onto Friday’s gains to start the week on lofty Treasury yieldsOPEC+ cut production with Saudi Arabia playing a key role to hoist oil pricesWith the debt dilemma out of the way, perceptions of Fed rates could be the USD driver Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The US Dollar added modest gains to Friday’s rally on Monday as markets digest the OPEC+ production cut agenda that…
With the BOC decision and Canadian jobs data coming up, I’m looking at this textbook setup on a Loonie pair this week. While the Canadian dollar is enjoying some bullish action thanks to rising oil prices after the OPEC decision, buyers might retreat as the top-tier events draw near. After all, the BOC is widely expected to sit on its hands again while the employment report could print a slower increase in hiring for May. Do you think USD/CAD is due for a bounce off this support area soon? USD/CAD 4-hour Forex Chart by TV As you can see from…
It’s gonna be another busy week in the markets, but this time the spotlight might be on the commodity currencies. We’ve got the RBA and BOC decisions lined up, followed by China’s inflation figures later on. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the economic calendar this week: RBA interest rate statement First up, we’ve got Australia’s central bank gearing up to announce their monetary policy decision on June 6, 4:30 am GMT. RBA policymakers are widely…
2/2 © Reuters. FILE PHOTO: Delfina Gomez of the National Regeneration Movement (MORENA), candidate for the governor of the State of Mexico, smiles next to Andres Manuel Lopez Obrador, leader of MORENA during a news conference in Mexico City, Mexico June 6, 2017. REUTERS 2/2 By Dave Graham and Alberto Fajardo MEXICO CITY (Reuters) -The party of Mexican President Andres Manuel Lopez Obrador was tipped to seize the last major bastion of the country’s old rulers after a state election on Sunday as the president seeks to pave the way for a successor next year. With polling stations closing in…
China Caixin / S&P Global PMIs for May:Services a solid beat at 57.1, fifth consecutive month of expansionComposite 55.6In brief from the report:Both services supply and demand expanded furthergauges for business activity and total new orders both stood above 50 for the fifth consecutive month and logged their second-highest readings since November 2020External demand also maintained strong momentum, with the measure for new export orders staying in expansionary territory for five months in a rowEmployment in the services sector saw a marginal expansionIn May, the gauge for input costs remained in expansionary territory for the 35th consecutive month due to…