Author: FX
EUR/USD ANALYSIS & TALKING POINTSGerman GDP miss weighs negatively on the euro this Friday.All eyes on upcoming US economic data including core PCE.Falling wedge still in play as euro fades. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro began the European trading session on the backfoot after worse than expected German GDP data (see economic calendar below) and GfK consumer confidence for March. The GDP numbers showed that the German economy contracted (-0.4%) in Q4 2022 and has brought back to the table “recessionary” talks. Trade Smarter – Sign up for the DailyFX Newsletter Receive…
In case you missed it, you can check out Ueda’s comments here. And as mentioned at the start of last week, one should not expect Ueda to turn any heads before he officially takes over from Kuroda as BOJ governor this coming April.”The parliament hearings to confirm Ueda on 24 and 27 February are ones that markets will be watching closely but if anything else, I think we are just going to get the same old remarks from Ueda himself as you would with Kuroda. This is a guy coming in to a position that some would say is just…
Share: Coca-Cola is a well-known blue chip US stock that can tend towards gains during recessions. As a consumer staple, the thinking goes that most western consumers can still afford a soft drink even though times are tighter. So how will Coca-Cola do this year? From a seasonal perspective, the company has a great seasonal bias. The company has gained 20 times in the last 25 years between March 13 and June 4. The average return has been 6.16% and the maximum gain has been over 20%. Is this now the time to consider buying into Coca-Cola as…
GOLD (XAU/USD) PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free Gold Forecast READ MORE: US Dollar Price Action Setups: AUD/USD, EUR/USD, USD/JPY, GBP/USDGold (XAU/USD) FUNDAMENTAL BACKDROPGold prices declined yesterday printing a fresh low around the $1817 mark in the US session. Overnight buying pushed the precious metal back toward the $1825 handle with the European open facilitating further declines (trading at $1820 at the time of writing).Gold bulls remain sidelined at present with the dollar keeping any attempted move to the upside in check. The dollar index has surprisingly continued its move higher despite further rate hikes…
Stocks had a limited rebound despite the hotter than expected inflation and jobs data. Yields rise when bond prices fall, so there was a marginal unwinding of some of this month’s hefty selloff. Data showed the labor market remains historically tight. Initial jobless claims, a proxy for layoffs, decreased by 3,000 to a seasonally adjusted 192,000 last week, well below the 2019 pre-pandemic average. It looks as though fears of the Fed hawkishness has peaked, at least for now, and the market is settling in for a long fight against inflation. Traders now see a…
Northland Power GAAP EPS of C$1.12, revenue of C$641M; initiates FY23 guidance Source link
A discussion with a friend over the break made me realise that the source I was grabbing the option expiries from had a bit of a glitch and hasn’t been fixed. So, I’d like to offer my sincerest apologies to everyone if you guys found the expiries to be a bit weird or funky as of late. But these latest ones are good but just a heads up that moving forward, I might not be able to grab the full week overview moving forward.For today, there are a couple of large ones to be mindful about but I’ve highlighted in…
Who’s ready to trade the Australian dollar? I hope you are because AUD/JPY and AUD/NZD are sitting on key support and resistance levels! Check out their 1-hour charts: AUD/JPY 1-hour Forex Chart by TradingView I spy with my eye a trend continuation opportunity! AUD/JPY is consolidating just under the 92.00 psychological that lines up with the top of a descending channel that’s been around all week. In this case, AUD/JPY is also sitting close to the 50% Fibonacci retracement of yesterday’s downswing and a key support zone from last week. Moving averages are pointing to more bearish moves as the…
Share: USD/JPY is showing a volatility squeeze after some wild moves post-speech from BoJ Governor Nominee Kazuo Ueda. Bank of Japan Ueda considered the current monetary policy as appropriate for achieving the persistent 2% inflation target. Federal Reserve to continue policy tightening spell as upbeat US labor market could propel inflation ahead. USD/JPY is auctioning in a Rising Wedge which indicates a loss in the upside momentum and cements a bearish reversal. USD/JPY remained in vigorous action in the Asian session as Bank of Japan (BoJ) Governor Nominee Kazuo Ueda delivered his first speech after his selection. The…
Famed billionaire Thomas H. Lee’s family announced Thursday that the leveraged-buyout pioneer has died at 78, with The New York Post reporting that the financier was found dead of a self-inflicted gunshot wound at his Manhattan office. Lee’s family confirmed the man’s death in a statement, saying that “while the world knew him as one of the pioneers in the private-equity business and a successful businessman, we knew him as a devoted husband, father, grandfather sibling, friend and philanthropist who always put others’ needs before his own.” While the statement said nothing about the circumstances surrounding Lee’s death, the Post…