Author: FX

The RBNZ is widely expected to hike interest rates again this week, so I’m looking at this potential bullish play on NZD/USD. Can the pair sustain its climb after breaking above this reversal pattern’s neckline? Before you check out the setup, make sure you know all of last week’s major market movers as well as this week’s potential market catalysts! NZD/USD 1-hour Forex Chart by TV Kiwi bulls seem excited to price in their expectations for an RBNZ hike, as NZD/USD already busted through its double bottom neckline before the actual event. This chart pattern spans a little over 50…

Media reports are of an unusual spate of sudden cancellations or shutdowns in the past week. The events cancelled range across across arts, business and equality:a convention for female tech entrepreneurs in Shanghaia concert by a Japanese band in Guangzhoua “Folkstival” outdoor concert Beijing LGBT Center announced it was shutting downAdd Bloomberg:Organizers of the scrapped events issued apologies that are thin on detail, citing a variation of “unforeseen circumstances,” when writing in English, or “force majeure,” a legal term to waive liability in the event of circumstances outside a supplier’s control. In the Chinese context, it’s considered a euphemism for…

It’s gonna be another busy week in the forex market, as the economic calendar is filled to the brim with top-tier events. Not only do we have PMI readings from major economies, but we’ve also got the RBNZ statement, FOMC minutes, and U.S. core PCE price index. Phew! 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: Global PMI readings The market action is bound to pick up starting on Tuesday, May 23 7:15…

Share: EUR/USD grinds higher around intraday top, extends the previous day’s rebound from two-month low. Clear upside break of 100-DMA, RSI rebound from nearly oversold territory underpin bullish bias for Euro. 12-day-old bearish channel prods Euro bulls before giving them control; 1.0720-15 is the key challenge for bears. EUR/USD bulls keep the reins around the intraday high surrounding 1.0825-30 as buyers cheer the upside break of the 100-DMA during Monday’s Asian session. In doing so, the Euro pair stretches the previous day’s recovery moves from the lowest levels in eight weeks while approaching the top line of a…

vzphotos/iStock Editorial via Getty Images Update 7:50pm: Adds Micron comment. China said it found that Micron Technology’s (NASDAQ:MU) products have “relatively serious” potential network securities issues and warned that operators of critical information infrastructure should stop purchasing the goods. China’s Cyberspace Administration, which announced a review of memor chip maker Micron(MU) in late March, announced its findings on in a statement on Sunday. “The review found that Micron’s products have relatively serious potential network security issues, which pose a major security risk to my country’s critical information infrastructure supply chain and affect my country’s national security,” the Chinese regulator said…

© Reuters. U.S. President Joe Biden participates in a Quad Leaders’ meeting with Prime Minister Fumio Kishida of Japan, Prime Minister Narendra Modi of India, and Prime Minister Anthony Albanese of Australia, May 20, 2023, in Hiroshima, Japan. Kenny Holston/Pool via By David Morgan, Jeff Mason and Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday, after a “productive” phone call as the president headed back to Washington, the two sides said on Sunday. McCarthy, speaking to reporters at the U.S. Capitol following the call, said…

People’s Bank of China’s Loan Prime Rate setting.Last week the MLF rate was left unchanged which is usually a good indication that the LPRs will be left untouched.Current LPRs, which have unchanged for 8 consecutive months:3.65% for the one yearmost new and outstanding loans in China are based on the one-year LPR4.30% for the five yearmost home mortgage rates are based on the five-year This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result.…

3/3 © Reuters. Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah Al-Saud stands along with other officials as representatives of the Sudanese army and rival paramilitary Rapid Support Forces sign an agreement for a seven-day ceasefire in Jeddah, Saudi Arabia, 2/3 By Khalid Abdelaziz and Mohamed Nureldin KHARTOUM (Reuters) -Air strikes and clashes between Sudan’s warring factions could be heard in the capital Khartoum on Sunday, residents said, after a Saudi and U.S.-brokered deal for a week-long ceasefire raised hopes of a pause in the five-week conflict. The deal, signed on Saturday by the army and the rival paramilitary…

Recommended by Manish Jaradi Get Your Free Top Trading Opportunities Forecast Global equity markets jumped while gold dropped in the past week on growing hopes of a deal in Washington to raise the debt ceiling to avoid a catastrophic default. However, some of the optimism scaled back after reports on Friday that debt ceiling talks have hit a roadblock after a White House spokesperson said serious differences remain with Republicans.The S&P 500 rose 1.6%, while the Nasdaq 100 index surged 3.5%. The German DAX 40 advanced by 2.3% while the UK FTSE 100 was flat. In Asia, the Hang Seng…

Bet_Noire Developers have increasingly relied on an FDA shortcut to win accelerated drug approvals while their confirmatory trials got delayed at the expense of billions of dollars to the government-backed healthcare system, a recent analysis from Bloomberg News indicates. The FDA’s accelerated approval program, which became law in 2012, allowing the FDA to greenlight medicines on early trial results, is intended to help drugmakers to develop treatments for unmet medical needs. Over the past three decades, about 300 marketing applications, mainly for cancer drugs, have been cleared under the accelerated program after regulators first introduced it in 1992, partly to…