Author: FX

Share: USD/CAD climbs to its highest level since January and draws support from a combination of factors. Sliding Crude Oil prices undermines the Loonie and provides a goodish lift amid sustained USD buying. The overbought RSI on hourly charts fails to assist bulls to find acceptance above the 100-day SMA. The USD/CAD pair builds on this week’s goodish rebound from the vicinity of the monthly low and gains strong follow-through traction on Friday. The momentum lifts spot prices to the 1.3535-1.3540 region, or the highest level since January 6, and is sponsored by a combination of factors. Crude…

U.S. DOLLAR ANALYSIS & TALKING POINTSFed speakers add to hawkish rhetoric.Will there be more follow through from the bull flag? Recommended by Warren Venketas Get Your Free USD Forecast Get My Guide USD FUNDAMENTAL BACKDROPThe Dollar Index (DXY) has been rallying on the back of Fed officials lately which is slightly surprising as markets seemed unphased post-Non-Farm Payroll (NFP), CPI and retail sales data. In addition, Fed guidance has also been largely dismissed of recent but as the push for maintaining a tight monetary policy environment in the US grows, so does its influence on market participants. Revisions to the…

Share: MULN stock lost 15.1% on Thursday. NASDAQ dropped 1.8% Thursday. Mullen Automotive reported Q1 results on Wednesday. MoM PPI inflation figure arrived nearly double the expectation. Mullen Automotive (MULN) collapsed 15.1% on Thursday as a prominent reading of inflation came in hot and put in motion a risk-off reversal of sorts. The US Producer Price Index (PPI) arrived at a reading of 0.7% MoM, which was well above the 0.4% estimate from analysts. Possibly more importantly, investors reacted to Mullen’s business updated, which announced that it has received approval to expand MULN common shares by nearly 3x. The…

koto_feja DoorDash (NYSE:DASH) jumped in early trading on Friday after a strong earnings report and buyback announcement delivered some new buyers to the stock. Analysts are buzzing over the report and the implications for 2023. Needham reiterated a Buy rating on DoorDash (DASH) and increased its price target to $84 after digesting the numbers Analyst Bernie McTernan and team set higher adjusted EBITDA estimates following better than expected results and guidance. “Over the next two years we look for mid-teens GOV growth plus 70bps of annual margin expansion to drive adj. EBITDA to $1.3B, and we now value the stock…

Share: Strategists at TD Securities analyze Gold, Platinum and Silver technical outlook. Extreme uptrend in Silver is showing signs of turning over  “From a technical lens, Gold now screens most overbought in the precious metals complex with 51% of mean-reversion signals pointing to further downside, but the combined breadth of trend and mean-reversion signals is sending mixed signals for Gold after a boom in physical buying activity supported trend signals higher.” “Today, the breadth of uptrend signals in Platinum continues to deteriorate, and overbought signals still suggest the consolidation lower has some room to run before prices find…

We here are Babypips.com are big fans of demo trading before risking real money on the line. Problem is, lots of traders slack off after a while. They question why they should even waste their time on demo trading when they can “speed up” the learning curve by going live already. But demo trading is IMPORTANT to trading skill development. It not only familiarizes you with a trading platform and the mechanics of placing and exiting trades, but it also protects your hard-earned moolah when you’re just starting to develop your trading skills. This is why I’m sharing three exercises that might…

2/2 © Reuters. FILE PHOTO: The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo 2/2 By Andrea Shalal and Jorgelina do Rosario WASHINGTON/LONDON (Reuters) -U.S.-based investment firm BlackRock (NYSE:) said on Friday it would join a new sovereign debt roundtable set up to accelerate progress on stalled relief efforts for distressed countries with Britain’s Standard Chartered (OTC:) also joining according to sources. The Global Sovereign Debt Roundtable, chaired by the International Monetary Fund, the World Bank and India – this year’s leader of the Group of 20 major economies -…

EUR/USD News and AnalysisEUR/USD decline gathers pace on stickier PPI print and hawkish Fed commentsTechnical update: EURUSD bearish break gains tractionEuro sentiment data, FOMC minutes and US consumer sentiment next weekThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free EUR Forecast In yesterday’s update, I highlighted the potential for a bearish breakdown of trendline support amid dovish comments by ECB governing Council member Fabio Panetta. Panetta walked back the incredibly unified message portrayed at the February ECB meeting,…

We are going back to a familiar theme in markets today, that being buy the dollar, sell everything else. This comes as we see traders digest the happenings this week and lean towards the possibility of a more hawkish/aggressive Fed. USD/JPY is now inching just above 135.00 as 10-year Treasury yields are threatening to move above the December highs of 3.90%:Despite the dip buying in equities this week, which finally relented yesterday, it looks to be a case where the bond market gets it right once again. Treasury yields have been trending higher through the week and have continued to…

Share: The last month has been characterised by a stall in the EUR rally. Economists at Danske Bank lower their downward sloping profile slightly but maintain a bottom above parity. Tide is turning “We have long argued the strategic case for a lower EUR/USD based on relative terms of trade, real rates (growth prospects) and relative unit labour costs. Meanwhile, we increasingly think there is a potential for the cross to also head lower on a short-term horizon driven by the market realisation that financial conditions need to tighten, relative rates as well as relative asset demand.”  “As…