Author: FX
Share: XAG/USD drops from around $25.40s to $24.10s as US inflation cools and the labor market eases. The RSI indicator and 3-day RoC portray a bearish outlook for Silver, with the 200-DMA on sight. Silver price plummets across the board, as data from the United States (US) showed that inflation is cooling down, while the labor market commences easing amidst US Federal Reserve (Fed) officials complaining about its tightness. US Treasury bond yields drop, but the US Dollar (USD) rises to new weekly highs, a headwind for XAG/USD prices. At the time of writing, the XAG/USD is trading…
Drew Angerer Apple (NASDAQ:AAPL) has marched higher in 2023, helped recently by the release of well-received quarterly results. The upswing has taken the stock to levels not seen since August of 2022. Even as shares of the iPhone maker have climbed, the overall market has faced ongoing concerns about the broader economy and the future of interest rates. Given the macro uncertainty, does Apple remain a buy, even after the recent gains? Earnings and Market Leadership Apple (AAPL) received a boost from its latest earnings figures. The tech giant announced Q2 GAAP EPS of $1.52, beating estimates by $0.09. Meanwhile,…
EUR/USD AND S&P 500 FORECAST:EUR/USD slides on risk-off sentiment, testing a key technical support near the psychological 1.0900 levelThe S&P 500 also loses ground, but Alphabet’s solid rally cushions market weaknessThis article looks at key technical levels to watch on EUR/USD and the S&P 500 over the coming days Recommended by Diego Colman Get Your Free EUR Forecast Most Read: USD Breaking News – Favorable PPI Print Accompanied by Softening Jobs DataThe U.S. dollar strengthened across the board on Thursday, despite falling U.S. bond yields, indicating that the move was driven by increased demand for defensive assets in response to…
RAND ANALYSIS & TALKING POINTSRand eyes April 2020 highs!ZAR inundated by headwinds both local and global.Sharp rally on USD/ZAR to fade? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter USD/ZAR FUNDAMENTAL BACKDROPThe South African rand has been at the mercy of several local and external factors causing the Emerging Market (EM) currency to fall over 4.75% just this week! Let’s breakdown some of the challenges facing the rand and what could be the ramifications moving forward:LOADSHEDDINGBeginning with the long standing affliction by way of rolling blackouts,…
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National Vision Holdings beats Q1 top and bottom line estimates; reaffirms FY23 outlook Source link
GOLD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free Gold Forecast Gold (XAU/USD) AND DOLLAR INDEX FUNDAMENTAL BACKDROPGold prices have somewhat stabilized following yesterday’s whipsaw price action. Gold came within a whisker of the psychological $2050 handle before a brisk selloff saw the precious metal end the day in the red.Gold prices have continued to retreat this morning as the Dollar Index (DXY) hit a fresh one-week high. Gold is precariously poised at the minute with growing uncertainty around a global recession keeping the precious metal supported. Gold seems unable to push convincingly above the $2050 level…
© Reuters. FILE PHOTO: U.S. and Chinese flags are seen in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration By Xie Yu HONG KONG (Reuters) – China’s securities watchdog on Thursday said that it was willing to work with its counterparts in the United States to promote audit regulatory cooperation and safeguard the rights and interests of global investors. The comment from the China Securities Regulatory Commission (CSRC) came a day after a U.S. accounting watchdog said that it found unacceptable deficiencies in audits of U.S.-listed Chinese companies. The deficiencies found by the U.S. watchdog during their first-time inspection of…
The BOE is up today! Will the central bank’s event extend EUR/GBP’s days-long downtrend? Or is it ready for a trip to higher areas of interest? EUR/GBP 15-min Forex Chart by TV In case you missed it, EUR/GBP has been in a downtrend since earlier this month when the pair got rejected at the .8830 levels. One possible reason is that traders don’t see the European Central Bank (ECB) having much more room for further interest rate hikes despite the members’ conviction to fight high inflation. Meanwhile, stubbornly high inflation in the U.K. combined with still okay-ish employment numbers are…
Meeting-by-meeting approach is the right path for the ECBNothing is off the table in the September meetingWe’re moving closer to restrictive territory but not there yetNeed at least a year-and-a-half to see core inflation closer to 2%This just rebuffs the narrative after the ECB meeting last week but for now, markets are expecting at least one more rate hike in June and possibly one more in July. We’ll see how that changes in the months ahead, keeping in view inflation and economic developments. Source link