Author: FX
GOLD PRICES OUTLOOK:Gold prices may trade defensively in the near term, dragged down by rising U.S. Treasury yields and a strengthening U.S. dollarTreasury bond rates have been climbing rapidly this month amid a hawkish repricing of the Fed’s policy outlookThis article looks at the key technical levels to keep an eye on in XAU/USD in the coming sessions Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Gold Prices Charge Toward Fibonacci Support as Markets Bet on Higher Fed Peak RatesGold prices (XAU/USD) have fallen by more than 5% in February, dragged down by the powerful rebound in…
On Friday I’m hosting a webinar on how to trade the news. It’s totally free and you can sign up here. It’s at 9 am ET on Friday (1400 GMT).I don’t do these often so it’s a chance for me to talk in more depth about what moves the market. There’s so much noise in the news and picking through it all to find the signal is more of an art than science. How do you balance conviction in a theme against a series of headlines that run counter to it? How do market expectations differ from the economist consensus?Most…
Share: USD trades narrowly mixed. Shaun Osborne, Chief FX Strategist at Scotiabank, believes that a hawkish tone in FOMC Minutes could propel the Dollar. USD set to gain a little ground in the near-term “I’m still leaning towards the idea of the USD gaining a little ground in the near-term.” “There are no major data releases scheduled for North America today. However, the Fed releases the Feb 1 FOMC minutes. The chances of the pace of policy tightening picking up again are low but a hawkish undertone to the minutes (more support for bigger hikes or a developing…
Global growth has generally proven more resilient than expected even as central banks have been working overtime, hiking rates at a record clip to try to slow the demand side of the equation and rein in inflation. And while there has been some success in slowing price pressures on a y/y basis, rates still remain well above the 2% target. Those dynamics have kept monetary policy on a tightening path and will continue to do so into Q2. However, the pace of hikes, between 25 bps and 50 bps, is up for debate as policymakers weigh the cumulative effects of…
European Indices: FTSE, DAX Analysis Recommended by Richard Snow Get Your Free Equities Forecast DAX (Germany 40) Stalls at Recent HighThe DAX appeared rather unperturbed after positive PMI data yesterday in the run up to the 1 year anniversary of the Russia-Ukraine conflict. A definite rise in geopolitical tensions across the globe has also weighed heavily on risk sentiment as China and the US point fingers at each other over the ‘balloon’ saga and Russia sends out a warning as Putin suspends important nuclear treaty. North Korea also plans to carry out intercontinental ballistic missile tests in response to planned…
G0d4ather/iStock via Getty Images After outperforming the major averages in a dismal 2022, hedge funds are off to a “strong start” to 2023, according to UBS, citing the industry’s performance during January. The firm reported that hedge funds in general saw a total return of 2.8% in January, compared to 6.3% for the S&P 500 index. That means that the group seized approximately 44% of the U.S. equity upside and were broadly even with US bonds during the month. To put this in context, hedge funds generally saw a 4.1% drop in 2022, compared to a 23.9% decline for the…
© Reuters. Philip Morris International (PM) reaffirms its 2023 full-year reported diluted EPS forecast Philip Morris International Inc.’s (NYSE:I) (PM) Chief Financial Officer, Emmanuel Babeau, will address investors today at the 2023 Consumer Analyst Group of New York (CAGNY) Conference. The event will be webcast live in listen-only mode, beginning at approximately 11:00 a.m. ET, at www.pmi.com/2023cagny and on the PMI Investor Relations Mobile Application (accessible on iOS or Android devices). Presentation slides will also be available on the same site and the App. An archived copy of the webcast will be available until 5:00 p.m. ET on Thursday, March…
Investors implore a “wait & see” approach as FOMC minutes and Core PCE inflation data loom in the final half of the week. Dollar Midway through the week and the Dollar finds itself hovering just below a 15-day high, while investors eagerly await the FOMC minutes due on Wednesday afternoon. Factors driving the Dollar’s recent performance against its peers can be attributed to upbeat US data in the form of PMI data as well as the benefits of the safe-haven appeal the currency has amid the geopolitical uncertainties that have characterised the last two weeks. Chief among those is the…
Back in 1969 when my buddies and I were still vibing to The Beatles’ Hey Jude, management trainer, Martin Broadwell, talked about the “four levels of teaching” to describe the work that needs to be done to learn a skill. Broadwell discussed teaching but his ideas about competence levels became popular in psychology and self-development circles. What are these “levels of competence” and can they be applied to your forex trading journey? Level 1: Unconscious incompetence It may sound like a fancy insult, but this just means that you don’t know yet how unknowledgeable you are about the subject. You’ve probably heard…
GBP/USD – Prices, Charts, and AnalysisUK data are supportive of the British Pound.FOMC minutes are released later in the session. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: British Pound (GBP) Latest – GBP/USD Slumps, a Victim of US Dollar StrengthThe British Pound is trading on either side of 1.2100 against the US dollar, buoyed by better-than-expected data this week. While the US dollar is also strong, supported by rising US Treasury yields, Sterling is making gains against its counterpart across the Atlantic and…