Author: FX
Share: Silver price holds lower ground near intraday bottom, snaps two-day winning streak. U-turn from key moving average, Fibonacci retracement level joins bearish MACD signals to favor XAG/USD bears. 61.8% Fibonacci retracement adds to the upside filters, $21.40 acts as immediate support. Silver price (XAG/USD) remains depressed around $21.70 during the first loss-making day in three heading into Tuesday’s European session. In doing so, the bright metal portrays a clear reversal from the 200-Hour Moving Average (HMA), as well as the 50% Fibonacci retracement level of its moves between February 09 and 17. Not only the U-turn from…
Swedish Krona, EURSEK, Riksbank, NOK, Crude Oil, US Dollar, AUD/USD, RBA – Talking PointsThe Swedish Krona has been supported by potential hikes from RiksbankThe US Dollar had a quiet session, but a busy US data week lies aheadIf EUK/SEK breaks lower, will the downtrend gain momentum? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Swedish Krona eased slightly today after having a blistering rally yesterday with EUR/SEK hitting a 2-month low.The Riksbank monetary policy meeting minutes revealed a very hawkish tone and core CPI data…
HSBC Holdings reports Q4 results, profit nearly doubles and initiates FY23 outlook Source link
The minutes of the RBA meeting showed that the committee believes the cash rate is currently lower than in many economies, while the data showed a higher than expected breadth and persistence of inflation. They supported continued rate hikes in the coming months (25 bps or 50 bps may be considered, with medium-term inflation expectations holding up well.) On peak interest rates, the Committee noted that this would depend on household income and expenditure outflows, employment and price movements. Chart 1: Japanese manufacturing and services PMI. source: Trading Economics On the other hand, the Asia Pacific trading session saw a…
5/5 © Reuters. A general view shows an apartment building damaged by a Russian military strike, amid Russia’s attack on Ukraine, in the frontline city of Bakhmut in Donetsk region, Ukraine February 19, 2023. REUTERS/Yevhen Titov 2/5 (Corrects Wang Yi’s position in paragraph 20) By Pavel Polityuk and Max Hunder KYIV (Reuters) -Russian President Vladimir Putin was due to make a speech on Tuesday setting out aims for the second year of his invasion of Ukraine, a day after U.S. President Joe Biden walked central Kyiv promising to stand with Ukraine as long as it takes. Following his surprise visit…
Coming up from Canada later today, at 1330 GMT, which is 8.30 Eastern time:As is the case in the US eyes are on Services inflation. This has remained sticky in the US.Bank of Canada Governor Macklem:“We will be watching productivity, labour costs and services price inflation closely.”—A potential loose cannon in the numbers today are revisions that the Stats people in Canada will be making to past CPI readings. They’ll revise CPI-trimmed mean and CPI-weighted median measures back 7 years in time. This is normal procedure but it can induce some weird results that make interpretation, and implications, for the…
Missed the chart pattern breakout on Nvidia (NVDA)? Share prices are in the middle of a pullback to the former neckline, so keep your eyes on these levels! Nvidia Corporation (NVDA): Daily Nvida Corporation (NVDA) Daily Chart by TradingView Shares of this advanced semiconductor company recently busted through the neckline of an inverted head and shoulders pattern, indicating that a long-term uptrend is in the cards. Before all that happens, though, NVDA might need to gather more bullish energy by pulling back to the former resistance zone. This area of interest happens to be spanned by the Fibonacci retracement levels…
Share: USD/JPY picks up bids to print three-day winning streak, grinds near intraday top. BoJ’s Kuroda highlights higher wages, Japan’s Jibun Bank PMIs for February came in mixed. Treasury yields reverse Friday’s pullback as full markets return. USD/JPY grinds higher around intraday top surrounding 134.35-40 amid a three-day uptrend during early Tuesday. In doing so, the Yen pair tracks the recent pick up in the US Treasury bond yields while struggling to justify hawkish comments from Bank of Japan (BoJ) Governor Haruhiko Kuroda and the mixed Purchasing Managers Index (PMI) for February. That said, preliminary readings of Japan’s…
Australian Dollar, AUD/USD, US Dollar, PMI, RBA Minutes, Trend – Talking PointsThe Australian Dollar looks to be treading water for nowRBA meeting minutes show inflation forecasts that are under scrutinyIs the trend in play, or will a breakout provide AUD/USD direction? Recommended by Daniel McCarthy How to Trade AUD/USD The Australian Dollar has started this week consolidating with firming PMI data and RBA meeting minutes being released today.The Jibun Bank composite PMI came in at 49.2 for February against 48.2 prior and although it shows an improvement, it remains on the contractionary side of 50.The RBA meeting minutes revealed most…
© Reuters. FILE PHOTO: An employee works at a beer production line at Japanese brewer Kirin Holdings’ factory in Toride, Ibaraki Prefecture, Japan July 14, 2017. REUTERS/Kim Kyung-Hoon/File Photo TOKYO (Reuters) – Japan’s manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world’s third-largest economy, which is facing weakening demand and struggling to tame cost pressures. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) fell to a seasonally adjusted 47.4 in February, from a final 48.9 in the previous month. The index…