Author: FX
Share: USD/CAD holds lower ground during two-day retreat from monthly high. Bearish MACD signals add strength to pullback moves targeting previous resistance line. Loonie pair’s recovery needs validation from April’s peak. USD/CAD remains mildly offered near 1.3600 as it defends the previous day’s U-turn from a one-month high during Monday’s sluggish Asian session, especially amid the holidays in the US. That said, the Loonie pair’s latest weakness justifies its inability to cross a two-month-old descending resistance line, around 1.3650 by the press time. Adding strength to the downside bias are the bearish MACD signals. With this, the USD/CAD…
Another week, another chance to trade the major currencies! U.S. dollar trading may get spicier in the next few days as we get another round of NFP reports on Friday. 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: China’s PMI readings China’s recent headlines and data misses have the markets wondering if the second-largest economy in the world is losing steam so soon after reopening its market. Another sneak peek into China’s economic…
Gold, XAU/USD, Treasury Yields, Real Yield, US Dollar, Fed, Debt Ceiling – Talking PointsThe gold price has succumbed to US Dollar strength of late with the Fed in focusTreasury yields and real yields continue to elevate and might add to dollar demandIf Washington resolves the debt ceiling issue, where will XAU/USD end up? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The gold price slid to a 2-month low to start the week as concerns around the US debt ceiling appear to be subsiding at the…
© Reuters. FILE PHOTO: The Internal Revenue Service (IRS) building is seen in Washington, U.S. September 28, 2020. REUTERS/Erin Scott//File Photo WASHINGTON (Reuters) – The budget deal struck by President Joe Biden and House Speaker Kevin McCarthy to end a debt-limit crisis should not change the short-term abilities of tax collectors, according to White House officials. The deal would shift $10 billion each in fiscal years 2024 and 2025 in funding away the Internal Revenue Service, but officials believe the IRS can make due in the near term since they were funded over a 10-year period. They may need to…
Chip Somodevilla The debt ceiling agreement that was reached late Saturday “prevents the worst possible crisis, a default,” President Joe Biden said. The deal is a compromise, he said during a short press briefing on Sunday evening. “Nobody got everything that they want.” The agreement protects key priorities that “Democrats and I have worked long and hard for,” Biden said. “I strongly urge both chambers to pass that agreement,” he added. Earlier on Sunday U.S. House Speaker Kevin McCarthy said he believed that a majority of Republicans would support the agreement. And even before today’s press briefing, President Biden said…
Adam had the earlier breaking events:US President Biden is speaking from the White House now. There is very little of substance so far.Says he spoke with Speaker McCarthy and that they reached a bipartisan agreementGood news for the American peoplethe agreement protects key prioritiesurges COngress, both chambers, to pass the agreementpeople will find he didn’t make too many concessionsdid not make a compromise on debt ceiling, made a compromise on budgetexpects McCarthy has the votes to get it passed in the House of RepresentativesBiden on McCarthy:”He kept his word. He said what he would do. He did what he said…
STAG Industrial goes ex dividend on Tuesday Source link
5/5 © Reuters. Turkish President Tayyip Erdogan attends a rally, ahead of the May 28 presidential runoff vote, in Istanbul, Turkey May 27, 2023. REUTERS/Umit Bektas 2/5 By Can Sezer ISTANBUL (Reuters) -President Tayyip Erdogan claimed victory in Turkey’s presidential election on Sunday, a win that would steer his increasingly authoritarian rule into a third decade. Addressing supporters, Erdogan said voters had given him the responsibility to rule for the next five years. “The only winner is Turkey,” he said, addressing cheering supporters from atop a bus in Istanbul. Final official results have yet to be released. There was no…
Recommended by Daniel Dubrovsky Get Your Free Equities Forecast Global stock market sentiment mostly deteriorated this past week with a few exceptions. On Wall Street the tech-heavy Nasdaq Composite crushed its competition, soaring 2.51% while the blue-chip-oriented Dow Jones sank -1%. Across the Atlantic Ocean, the DAX 40 and FTSE 100 fell -1.79% and -1.67%, respectively. Meanwhile, the Hang Seng Index dropped almost 5%.The vast majority of gains this past week were driven by tech, amplified by a blowout earnings report from Nvidia Corp. The company underscored AI-fueled demand and projected earnings that were far above expectations, causing the stock…
Kristian1108/iStock Unreleased via Getty Images Surf Air Mobility, a Los Angeles-based electric aviation and air travel company, is working with Morgan Stanley and is expected to go ahead with plans to go public through a direct listing. The aviation company plans to file publicly as soon as next week for the listing and to start trading this summer, according to a Bloomberg report late Friday, which cited people familiar. Surf Air said in November that it had confidentially submitted a draft registration with the U.S. Securities and Exchange Commission for a direct listing. The filing came after a deal to…