Author: FX
Share: The Yuan experienced a few choppy weeks in July. Economists at Commerzbank analyze CNY outlook. Policymakers need to act fast The Yuan experienced a few choppy weeks in July as the PBoC set the daily fixings stronger than market expectations in most days to counter depreciation pressure. This will likely continue to be the case in the near term. While the recent stimulus announcements have bought some time for policymakers, they need to act fast before investors disappoint over the absence of tangible policy response. Source link
Looking for setups to trade to start your trading week? I gotchu with EUR/AUD’s possible turn from a technical resistance area! Let’s take a look at the 1-hour time frame: EUR/AUD 1-hour Forex Chart by TV As you can see, the pair is knocking at a range resistance that hasn’t been broken since late June. Add an overbought Stochastic signal and you can see how at least some euro bears or Aussie bulls will notice. The Reserve Bank of Australia’s (RBA) policy decision in the next Asian session could make or break EUR/AUD’s recent upswing. Word around is that the…
Between July 6th and July 17th, the EUR/USD showed a remarkable upward trend, soaring from 1.08536 to 1.12484. Yet, the tides have shifted since then, as the pair embarked on a correction phase, experiencing a decline of around 1%. As forex traders gear up for what promises to be a busy week ahead, the EUR/USD is currently trading at 1.11221, leaving market participants eagerly awaiting new developments from the Fed and the ECB. Daily EUR/USD Chart – Source: ActivTrader’s data on TradingView A crucial week for the EUR/USD The week ahead promises to be a significant one for economic and…
© Reuters. Investing.com– Oil prices fell slightly on Monday after weak business activity data from China pointed to worsening economic conditions in the world’s largest oil importer, although the prospect of more stimulus measures in the country kept losses limited. Prices were sitting on five straight weeks of gains, and were also set for stellar gains in July as signs of tightening global supplies this year invited more long positioning in crude markets. But this rally now appeared to be on hold, amid continued signs of weak economic conditions in China. Markets were also awaiting more cues on the U.S.…
Joe Raedle/Getty Images News Trucker Yellow Corp. (NASDAQ:YELL) has sent out notices to customers and employees saying it has ceased all operations, and the Teamsters union said the company notified the union it intends to file for bankruptcy, The Wall Street Journal reported Sunday. A failure would imperil nearly 30K jobs, including ~22K Teamsters members, after hundreds of Yellow’s (YELL) non-union employees were laid off Friday as the company stopped taking in new shipments from customers. Customers say disruptions should be limited, according to the report, after many shifted their cargoes to rivals in recent weeks, hastening Yellow’s (YELL) demise.…
A couple of AUD-relevant data points:The headline to this post could well be a bit of a stretch, yes the manufacturing PMI improved a touch. But its still in contraction and the non-manufacturing PMI dropped on the month. The manufacturing PMI has been under 50 now for 4 straight months. Perhaps there will be a boost for China alter:This has been AUD supportive for the session so far. Source link
Share: EUR/USD defends Friday’s corrective bounce off three-week low with mild intraday gains. Weekend statements from ECB’s Lagarde, Fed’s Kashkari allow Euro to extend previous corrective bounce. Softer US inflation pressure, fears about September rate hike prod EUR/USD bears. Euro buyers need validation from preliminary readings of Eurozone inflation data for July, Q2 GDP and US employment numbers. EUR/USD picks up bids to consolidate the two-week losses amid Monday’s early Asian session, mildly positive near 1.1025 by the press time. In doing so, the Euro pair justifies the latest comments from European Central Bank (ECB) officials, as well…
Kobus Louw Stocks can finish higher from here, but trading will likely be volatile and investors can benefit from a risk-plus-defense approach, according to BMO Capital Markets. “Despite the S&P 500 (SP500) (NYSEARCA:SPY) (IVV) (VOO) sitting slightly above our base case year-end target of 4,550, we believe US stocks can finish the year at higher levels since many of our bull case (5,050) assumptions have become more credible lately,” strategist Brian Belski wrote in a note. “Nonetheless, a lot of uncertainty remains so we expect price choppiness to be a mainstay for the remainder of the year,” Belski said. “In…
© Reuters Galaxy Digital’s founder Mike Novogratz shared what an ideal investment portfolio would look like for a young and high-risk tolerance investor during an interview with Bloomberg Wealth, saying that he’d invest in the Chinese giant Alibaba (NYSE:), silver, gold, (BTC), and (ETH). “If they were young and had a high-risk tolerance, I’d be buying Alibaba stock. I’d be buying silver, gold, Bitcoin and Ethereum. That’d be my portfolio,” he said in allusion to someone investing $100,000. For those with lower risk tolerance, he recommended allocating only 30% of a portfolio in the example, with the remaining 70% in…
Recommended by Daniel Dubrovsky Get Your Free USD Forecast The US Dollar mostly outperformed its major counterparts this past week, especially against the Euro, Australian Dollar, and New Zealand Dollar. This is despite a Federal Reserve that raised rates and did little to bolster further tightening bets down the road, leaving a data-dependent path.The European Central Bank, which also tightened, left the door open to further tightening too. But, traders punished the Euro considering President Christine Lagarde was not necessarily committed in her language in terms of a September hike. Meanwhile, the Japanese Yen was left disappointed as the Bank…