Author: FX
Economists at Danske Bank forecast EUR/GBP at 0.85 in 12 months as global growth slowdowns and relative appeal of UK assets to investors are a positive for the Pound relative to EUR. Modestly lower in 2023 “In the very near-term, we expect fragile risk appetite and too aggressive market pricing on the BoE to keep EUR/GBP around current levels.” “Further out, we remain cautiously optimistic that the cross will head modestly lower as a global growth slowdown and the relative appeal of UK assets to investors are a positive for GBP relative to EUR.” “Forecast: 0.87 (1M), 0.86 (3M), 0.85…
Contango ORE announces $5.6M private placement Source link
© Reuters. FILE PHOTO: Thai baht notes are seen at a Kasikornbank in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha/File Photo BANGKOK (Reuters) – Thailand’s government is planning to keep its budget deficit to no more than 3% of gross domestic product in the 2023 fiscal year, the finance minister said on Tuesday, aiming for a deficit of 593 billion baht ($17.13 billion). Arkhom Termpittayapaisith also said the inflation target range of 1% to 3% was appropriate and monetary policy would ensure continued recovery of the economy. The inflation target will help maintain price stability and keep medium-term inflation expectations…
Well, it’s not like the numbers matter anyway but if anything else, the end of China’s zero-Covid policy is very much a neat bookend to the whole pandemic over the past three years. The disease has been downgraded by China authorities from top-level Category A to Category B i.e. “only requiring necessary treatment and measures to curb the spread”.ADVERTISEMENT – CONTINUE READING BELOW Source link
Gold price extends previous gains above $1,800. Will XAU/USD recapture $1,825 heading into 2023? FXStreet’s Dhwani Mehta analyzes the pair’s technical picture. Bulls to target resistance at $1,825 “The path of least resistance for Gold price appears to the upside amid a bunch of healthy support levels. The immediate support awaits at $1,791. Daily closing below the latter will confirm the downside break from the triangle, negating the ongoing bullish momentum. The next downside cap is seen at the mildly bearish 200 Daily Moving Average (DMA) at $1,782. Further south, the dashed horizontal support at $1,773 will be probed.” “Gold…
Japan +0.21%. Japan’s November unemployment rate was 2.5%, in line with expectations from analysts polled by Reuters. Japan’s retail sales grew 2.6% in November, marking the ninth month of growth, according to data released by the Ministry of Economy, Trade and Industry. China +0.83%. China’s total profits of industrial enterprises for January to November fell further to -3.6% compared with a year ago, according to data from the National Bureau of Statistics. China to hold Covid press briefing at 3 p.m. local time. The measures, released late Monday, also said China would scrap quarantine for inbound travelers as of Jan.…
© Reuters. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo By Rae Wee SINGAPORE (Reuters) – The dollar moved broadly lower on Tuesday, while Australia’s and New Zealand’s currencies climbed with a rise in risk appetite after China said it would scrap its COVID-19 quarantine rule for inbound travellers – a major step in reopening its borders. The New Zealand dollar surged more than 0.5% in early Asia trade and was last 0.28% higher at $0.6288, while the gained 0.27% to $0.6750 in mostly thin trading…
AUD/USD retreats from intraday high but stays positive for the second consecutive day. China Industrial Profits drop 3.6% during January-November period, easing Covid restrictions keep sentiment positive. Mixed US data weighs on hawkish Fed bets, US Dollar during holiday-thinned markets. AUD/USD pares intraday gains around 0.6750 during Tuesday’s sluggish morning in Europe. In doing so, the Aussie pair takes clues from the recently flashed downbeat China data. However, cautious optimism in the market joins the receding hawkish bias from the Federal Reserve (Fed) to keep the pair buyers hopeful. China’s Industrial Profits dropped 3.6% during the January-November period versus -3.0%…
© Reuters. FILE PHOTO: Vietnam’s State Bank building is seen in Hanoi, Vietnam March 16, 2020. REUTERS/Kham HANOI (Reuters) – Vietnam’s central bank said on Tuesday it will manage monetary policy in a flexible way to keep inflation at 4.5% next year. Lending by Vietnamese banks rose 12.87% as of Dec. 21 from the end of last year, the State Bank of Vietnam said in a statement. Source link
WTI picks up bids to refresh three-week high. Bullish MACD signals, clear break of previous resistance line favor buyers. Descending resistance line from June, 100-EMA challenge further upside. WTI crude oil buyers keep the reins as they poke the 50-Exponential Moving Average (EMA) to refresh a three-week high around $80.90 during early Tuesday. In doing so, the energy benchmark justifies the previous week’s upside break of a descending resistance line from November 07, as well as the bullish MACD signals. As a result, the black gold is likely to overcome the immediate EMA hurdle surrounding $80.80, which in turn will…