Author: FX

WTI crude oil weeklyWhen you zoom out and look at the weekly oil chart, all the volatility seems to spill away. There have been plenty of whippy moves in the past few months but it’s all taken place in a range of $70-85.This week, oil bounced around again but closed almost perfectly flat on the week after a 99-cent gain today.The bears are worried about inventories building in the US and muddling signs from China’s reopening. The bulls are encouraged by better global growth and Russian supplies stumbling.Ultimately though, we’re right in the middle of the range and waiting for…

USDCHF tests the swing high from JanuaryThe USDCHF is stretching to the January and 2023 high at 0.94069. The price just reached 0.94058. There is some symmetry in the daily chart for the year. The move to the downside from the high took 19 days. The move back to the upside in February is on day 16.Looking at the chart, the low price reached on February 2nd took the price below the low floor area between 0.9081 and 0.91014. The low price extended to 0.90586 on the break of the floor, but momentum could be sustained and the price quickly…

<ul><li>Fed needs to keep at rate hikes until inflation trend brakes lower</li><li>Says here view on the economy and inflation hasn't been changed by the latest data</li><li>Data shows inflation not yet on trend to get back sustainably to 2% target</li><li>New <a href="https://www.forexlive.com/terms/i/inflation/" class="terms__main-term" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa" target="_blank">inflation</a> data affirms case for rate hikes</li><li>Asked about 25 bps vs 50 bps at March meeting, declines to say</li><li>Says 25 vs 50 bps discussion misses bigger picture</li><li>Says there's more data and info to take on before debating rate rise sizes at March 21-22 meeting</li></ul><p>Again, she's passing up an opportunity to be more hawkish than previously. She has…

The calendar turns to March on Wednesday and the rule of thumb is that non-farm payrolls comes on the first Friday of the month. So why is the jobs report scheduled for March 10 instead of March 3?The short answer is that the rule of thumb is wrong. The slightly-longer answer is that it’s because February is the shortest month, so there’s not enough time to prepare.The full answer is that Bureau of Labor Statistics releases non-farm payrolls on the fourth Friday following the week containing the 12th of a given month, which in March’s case will be the 10th…

<p>The Dallas measure of core inflation accelerated to a one-month annualized pace of 6.3% compared to 4.0% in December.</p><p>There are many fans of this report on the FOMC and it highlights the stubborn path of inflation going forward.</p> This article was written by Adam Button at www.forexlive.com. Source link

More rate hikes needed to deal with ‘too high’ inflationUS central bank will need to get rates up and potentially hold them there for a long periodShe is optimistic that the Fed can get inflation down and achieve a soft landingShe is aware there are many risks, including negative economic outcomesThese comments are annoying because they don’t answer the main question: How much higher dose the Fed need to hike? Collins is still new at the Fed so it’s not fair to push too hard on the point but the question is where does the Fed stop hiking and start…

Sundry Photography/iStock Editorial via Getty Images Zoom Video Communications (NASDAQ:ZM) is scheduled to announce Q4 earnings results on Monday, February 27th, after market close. Earlier this month the cloud-based communications platform company said it would lay off 1,300 employees, or about 15% of its workforce, as its deals with a post-COVID-19 business slowdown. In late January, in response to a slowdown in user growth, Zoom (ZM) said it would enact a 7% price increase for its popular Zoom One Pro plan. However, MKM Partners cautioned of few signs of growth picking up soon, cuting its rating on the communications platform…

EURUSD dailyLast week, we published MUFG’s trade of the week, calling for EUR/USD shorts and they’ve had a good start. The euro is down to 1.0543 from 1.0684 when it was published.This week, they’re sticking with it, keeping a target of 1.0335 and a stop at 1.0855.”We are maintaining our short EUR/USD trade idea. The pair has broken back below the 1.0600-level over the past week and we expect it to fall back towards support from the 200-day moving average that comes in at around 1.0330,” MUFG notes.For bank trade ideas, check out eFX Plus. For a limited time, get…

USDJPY retests the highs for the dayThe USDJPY is testing the earlier high for the day at 136.46. Looking at the hourly chart, the pair spiked higher after the Core PCE, but then quickly rotated to the downside. That move tested the swing highs from last Friday and Tuesday before restarting the run higher. The move took the price through a topside trend line and to a high of 136.46. A modest consolidation/correction has now led to a push back higher. The 136.46 level is being retested.On a break higher, traders will be looking toward teh 38.2% at 136.658. Above…

3/3 © Reuters. U.S. Secretary of State Antony Blinken speaks, while sitting next to British Secretary of State for Foreign, Commonwealth and Development Affairs James Cleverly, during a meeting at the United Nations Security Council, to mark one year since Russia invade 2/3 By Michelle Nichols and Simon Lewis UNITED NATIONS (Reuters) – U.S. Secretary of State Antony Blinken warned the United Nations Security Council on Friday that it should not be fooled by calls for a temporary or unconditional ceasefire in Ukraine, saying a “just and durable” peace cannot allow Russia to rest and rearm. The council met to…