Author: FX
AUD/JPY rose to the top of our longer-term watchlist this week after significant monetary policy events from both the Bank of Japan and the Reserve Bank of Australia. What did they say and will it lead to a momentum move in AUD/JPY in early 2023? Let’s take a look! Monetary Policy Divergence Ahead?! In case you missed it on Tuesday, the Bank of Japan rocked the markets by raising its cap on the 10-year Japanese government bond interest rate from 0.25% to 0.50%. No one saw this coming, and while BOJ Governor Kuroda said this decision was to improve bond…
S&P 500, Liquidity and Volatility Talking Points:The Market Perspective: S&P 500 Choppy Range Between 3,910 and 3,650A charge in the VIX volatility index shadowed the S&P 500’s nearly -3.0 percent drop to Thursday’s lowWhile there were some fundamental sparks, the slide and ultimate pressure on the SPX’s midpoint of its October to December range is being distorted by holiday liquidity Recommended by John Kicklighter Building Confidence in Trading The S&P 500 seems to be leading risk-leaning assets to defy the typical Santa Claus rally and comfortable fade in volatility that are usually ascribed to this time of year. In fact,…
EUR/USD is testing a critical support structure that guards a breakout. EUR/USD has otherwise supported within the bullish cycle with prospects of a bullish extension. EUR/USD is moving in towards a price imbalance between 1.0580 and 1.0560 having already made a low of 1.0582. The price is coiled below the top of the bullish cycle up at 1.0763 and is breaking down the trend which leaves the bias to the downside. The following illustrates the prospects of an explosive move below trendline support and given the holidays, a narrow range could be the fuel for the same in the full trading days…
Invesco Dynamic Energy Exploration & Production ETF declares quarterly distribution of $0.3119 Source link
© Reuters. FILE PHOTO: The sign of a CarMax dealership is pictured in Duarte, California March 28, 2014. CarMax, the largest U.S. used car retailer, is expected to report strong fourth-quarter results on April 4. REUTERS/Mario Anzuoni By Kannaki Deka (Reuters) -Used-car retailer CarMax Inc (NYSE:) said on Thursday it was pausing some hiring, halting share buybacks and cutting expenses after reporting an 86% drop in third-quarter profit as the industry struggles to offload inventory amid waning demand. The company’s shares fell as much as 12% to $52.10 and were at more than a two-and-a-half year low, dragging other auto…
GBPUSD falls below 200 day MAThe GBPUSD has traded lower today and to the lowest level since November 30. In the process, the price extended back below the 200 day moving average of 1.20791 (see green step down line on the chart above). On December 1, the price first moved above that moving average level, and although the price made small dips below the level including during yesterday’s trading since then, momentum could not be sustained. Going forward now that the MA has been broken with more momentum, stay below the 200 day moving average keeps the sellers more in…
US Dollar Talking Points:The US Dollar is holding support at a key spot on the chart and there’s a couple of headline items on the calendar for tomorrow that can keep the currency in-focus ahead of the holiday weekend.EUR/USD has been in a quiet range so far this week but GBP/USD is pushing lower after this morning’s disappointing UK GDP report. USD/CAD is putting in a support bounce from a key spot and USD/JPY appears to be trying to start a recovery move after the early-week drubbing.The analysis contained in article relies on price action and chart formations. To learn…
GBP/USD Forecast: Pound Sterling holds above key support despite weak UK data GBP/USD has managed to stage a rebound early Thursday before going into a consolidation phase slightly above 1.2100. The pair’s technical outlook shows that buyers remain uninterested and the US Dollar’s market valuation is likely to drive the action in the second half of the day. Read more… GBP/USD surrenders modest intraday gains, seems vulnerable near multi-week low The GBP/USD pair attracts fresh selling in the vicinity of mid-1.2100s on Thursday and retreats to the lower end of its daily range during the mid-European session. The pair is…
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© Reuters. David Tepper urges market to trust the Fed, says he is ‘leaning short’ on stocks By Senad Karaahmetovic David Tepper, the founder and president of hedge fund Appaloosa Management, is bearish on the U.S. stock market amid the ongoing central bank tightening. In an interview with CNBC, the legendary billionaire said he is “leaning short on the equity markets.” He also said he’ll sell bonds. “The upside/downside just doesn’t make sense to me when I have so many … central banks telling me what they are going to do,” Tepper said. He added that he has a small…