Author: FX
Share: Oil price has weakened as investors start to fear the deal to extend the debt ceiling may be derailed by Congress. Mixed messages from OPEC+ members further confuse the market – next meeting is June 4. Odds still favor a rate hike from the Fed at their next meeting, putting downward pressure on Oil. Oil price slides lower on Tuesday as investors question whether the debt-ceiling deal will get voted into law. At least two rebel Republicans and one Democrat have voiced their disapproval and may vote against the deal. If the US defaults on its obligations,…
USD/CAD PRICE, CHARTS AND ANALYSIS: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter MOST READ: Gold Price Forecast: 100-Day MA Provides Support as Gold Eyes RecoveryThe Loonie has put in some gains against the Greenback this morning helped by US dollar weakness. The loonie looks like it could be vulnerable to further losses as hawkish re-pricing of the Fed rate hike probabilities for June threaten to keep the US dollar supported.WTIs STRUGGLE, OPEC MEETING AND LOOK AHEADWTI continues to struggle holding onto gains which has also…
Michael Vi/iStock Editorial via Getty Images Cloud software provider MongoDB (NASDAQ:MDB) is slated to report first-quarter results on Thursday after the close of trading and the quarterly figures could put Wall Street’s estimates to “shame,” according to investment firm Monness, Crespi, Hardt. Analyst Brian White, who rates MongoDB (MDB) shares neutral, is expecting the company to earn 47 cents per share on $372M in revenue, well above the consensus estimate of 19 cents and $347.04M. “We believe Street estimates defy logic, presenting the opportunity for MongoDB to handily trounce analyst projections,” White wrote in an investor note. White added that…
© Reuters. Florida Governor Ron DeSantis pauses as he speaks during the Florida Family Policy Council Annual Dinner Gala, in Orlando, Florida, U.S., May 20, 2023. REUTERS/Marco Bello By James Oliphant DES MOINES, Iowa (Reuters) – Florida Governor Ron DeSantis, following his presidential campaign debut online, will dive into old-school retail politicking in key early voting states this week, his first chance to connect with voters since announcing his bid for the 2024 Republican nomination. DeSantis will campaign in Iowa for two days and then move on to New Hampshire and South Carolina on a tour that will be closely…
Novak endured a bit of a fiasco last week as seen here, but the latest headline above shouldn’t be anything too noteworthy. In any case, this does tee up a reminder to the upcoming OPEC+ meeting on 4 June. That will be a weekend risk for oil traders, so just a bit of a heads up. Source link
AUD/JPY has been stuck inside this consolidation pattern for a while, but it looks like a breakout is due. On the hourly chart below, you can see that the pair has formed higher lows since the beginning of the month and has found resistance around the 92.00 mark to create an ascending triangle. Which way could it go during Australia’s monthly CPI release? AUD/JPY 1-hour Forex Chart by TV Price just recently retreated from the triangle top and is now diving back below the pivot point (91.57) to set its sights on the bottom near the 91.00 handle. Stronger selling…
Share: USD/TRY keeps rising post-Erdogan win on Sunday. The lira has already depreciated nearly 8% this year. President Erdogan vowed to keep low-rates policy. The Turkish lira remains in free-fall vs. the greenback and lifts USD/TRY to a new all-time high near 20.25 on turnaround Tuesday. USD/TRY: Further gains appear in store USD/TRY advances for the third session in a row and flirts with the 20.25 region, as investors continue to assess Sunday’s win by President R. T. Erdogan in the second round of the general elections. Extra weakness hitting the lira comes after President Erdogan promised to…
Trend warriors gather ’round! Bitcoin (BTC/USD) has seen enough demand to push it to a potential resistance area. Will the OG crypto extend its losses this week? Bitcoin (BTC/USD) 4-hour Chart Chart by TV Over the past few days, bitcoin (BTC/USD) has seen enough demand to push the pair back to the $28,400 zone. But the bearish force was too strong around the area and now BTC/USD is trading just under the $28,000 mark. Will the rejection at $28,400 lead to further losses for BTC? Trend traders who are confident that BTC/USD will remain inside a descending channel can short…
Crude Oil, WTI, Brent, US Dollar, Debt Deal, T-Bills, AUD/USD, USD/JPY – Talking PointsThe crude oil price retreated inside the range today after trying higherThe debt ceiling deal appears to be heading in the right direction for a resolutionUS Dollar movements might determine crude direction. Will a debt deal undermine USD? Recommended by Daniel McCarthy How to Trade Oil The crude oil price slipped on Tuesday but remains within a range despite the prospect of the debt ceiling issue being resolved this week.It is being reported that US President Joe Biden and House Speaker Kevin McCarthy are actively encouraging lawmakers…
Who else is looking at major AUD pairs ahead of Australia’s CPI release? I don’t know if you’ve noticed but AUD/USD has been forming higher highs and higher lows since last week when the pair found support from the .6500 psychological area. I’m taking a closer look at the pair today because AUD/USD just turned lower from the .6560 area near the R1 (.6550) of today’s Standard Pivot Points and the top of an ascending channel. How low can AUD/USD go before the buyers step in again? AUD/USD 15-Minute Forex Chart by TV The pair is trading near the 38.2%…