Author: FX
Crude oil settles higherThe price of WTI crude futures are settling at $79.56 . That’s up $2.07 or 2.671%Frigid temperatures across most of US are contributing to the move to the upside. The high price today extended back over the $80 level to $80.30. The low price was down at 78.01.Looking at the hourly chart, the price moved back above the 38.2% retracement of the move down from the November 7 high. That level comes in at $79.16. The rising 100 hour moving average is down at $77.4, and the rising 200 are moving averages at $76.52. Earlier this week,…
The vote in the House was 225-201 with one Democrat (AOC) voting ‘no’ and 10 Republicans voting ‘yes’.The bill funds the government through next September.Gold has had a nice month so far and steadied after yesterday’s slump. All this spending is one day going to be a big tailwind for gold.ADVERTISEMENT – CONTINUE READING BELOW Source link
First Trust Preferred Securities and Income ETF declares monthly distribution of $0.0925 Source link
EUR/USD bears are eyeing the trendline support for an explosive breakout. The price is being resisted and a break of 1.0575 will likely encourage the bears to target a break of 1.0500. As per the prior analysis, EUR/USD Price Analysis: Bears sink in their teeth to test bulls at a critical support structure, the bears are capping the bull’s attempts to break higher. We have seen the price start to coil on the backside of the prior bullish trend but still, the Euro remains on the front side of the more dominant bullish trend as the following will illustrate. EUR/USD prior…
After recent releases from the US Census Bureau, the US Bureau of Economic Analysis, and the National Association of Realtors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 3.4 percent and -0.2 percent, respectively, to 3.6 percent and 3.8 percent, respectively,” the release from the US Census Bureau said. US Dollar update The US Dollar, as measured by the DXY index vs. a basket of currencies is flat for the day in low-volume holiday markets, trading around 104.34. The index has stuck to a range of between 104.124 and…
The Gold price is back in line with the coil and would be expected to continue higher or at least stay sideways. Failing this, then an even deeper move in Gold price would be on the cards for the days ahead with $1,775 eyed. As per the prior day’s analysis, Gold Price Forecast: XAU/USD bulls need to commit at key trendline support, the Gold price has found demand at the said support area and has moved back into line with the broader bullish trend. Gold price edged up on Friday ahead of the Christmas holidays and long weekend and was supported by cooling…
(Reuters) – The highly-contagious Omicron subvariant XBB has surged to more than 50% of COVID-19 cases in the northeastern United States and risks spreading fast as millions of Americans begin holiday travel on Friday. In the week ended Dec. 24, XBB was estimated to account for 18.3% of the COVID-19 cases in the United States, up from 11.2% in the previous week, according to the U.S. Centers for Disease Control and Prevention on Friday (CDC). The subvariant is currently dominant in the Northeast, but accounts for fewer than 10% of infections in many other parts of the country, the CDC…
Some good economic data points today drove a jump in the Atlanta Fed GDPNow tracker for Q4 to +3.7% from +2.7%.”After recent releases from the US Census Bureau, the US Bureau of Economic Analysis, and the National Association of Realtors, the nowcasts of fourth-quarter real personal consumption expenditures growth and fourth-quarter real gross private domestic investment growth increased from 3.4 percent and -0.2 percent, respectively, to 3.6 percent and 3.8 percent, respectively,” the release said.Next week’s data calendar is quiet but in early January we’ll start to get a better picture of how Q4 shook out.ADVERTISEMENT – CONTINUE READING BELOW…
November core inflation ran at an annualized pace of 3.4% vs 3.9% priorThere’s a lively debate about where US inflation will settle: At the 2% target or a stubbornly high 4%. This metric is already running below 4% after hitting 7.2% in June, so that’s a good sign but it will take awhile to get where it needs to be consistently. The 12 month trimmed mean fell to 4.6% from 4.7%.Looking through the data, I have to imagine that ‘pleasure boats’ won’t be an inflationary impulse for much longer.Meanwhile, when you look at the largest contributors to overall inflation, it’s…
Today’s Canadian GDP data and federal budget stats highlighted an economy that was on a solid footing in Q4 and some of the tailwinds from oil prices. The numbers helped to cap USD/CAD at 1.3700 this week and after several attempts at that level failed, the pair has sagged down to 1.3563, which is the lowest since Dec 14.USDCAD daily chartMy main worry heading into 2023 is housing. The Canadian market is extremely vulnerable to higher rates as more resets kick in and consumers begin to feel the pinch. Many borrowers are holding on and hoping that rates reverse but…