Author: FX
Share: Further decline lies ahead for EUR/USD once 1.0920 is cleared, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB. Key Quotes 24-hour view: “Yesterday, we held the view that ‘there is scope for EUR to drop to 1.0920 before stabilization is likely’. However, EUR traded in a quiet manner until NY time when it swung between 1.0940 and 1.1006 before settling at 1.0980 (+0.18%). The price actions appear to be part of a consolidation phase. In other words, we expect EUR to trade sideways today, likely in a range of 1.0950/1.1005.”…
AUD/USD has been pacing back and forth inside its range since March, but it seems to be considering a breakout soon. As you can see from the 4-hour chart below, the pair has been hovering around the resistance at the .6800 handle for quite some time. Now this marks its fourth attempt to bust through the ceiling in the past couple of months. Will it finally succeed this time? AUD/USD 4-hour Forex Chart by TV If it does sustain a bullish break, price might be in for a rally that’s at least the same height as the range pattern. That’d…
MF3d American Lithium (NASDAQ:AMLI) said Wednesday it received authorization from authorities in Peru to carry out additional explorations near its current lithium project. The company said the new exploration will allow it to expand its existing resources in the southern Puno region bordering Bolivia. The chief executive of American Lithium’s Peruvian subsidiary told an industry event that the company received authorization last Friday to develop exploration activities in the Quelcaya area, located a few kilometers from the current Falchani project. American Lithium (AMLI) shares closed +6.2% in Wednesday’s trading at $2.21, the best close in three weeks. More on American…
5/5 © Reuters. Feihe milk powders are displayed on shelves in a store in Shanghai, China, April 3, 2023. REUTERS/Aly Song 2/5 By Farah Master HONG KONG (Reuters) – For many of China’s manufacturers of baby and children’s products, painful reverberations from last year’s historic decline in the country’s population are already upon them. Domestic sales are shrinking and the scramble is on to develop new streams of revenue, whether that be diversifying into products for adults or boosting offerings in overseas markets with younger populations like Southeast Asia and India. Hong Kong-listed Health and Happiness (H&H), which gains nearly…
Australian Dollar, China CPI, PPI, AUD/USD, US Dollar, Fed, PBOC, CGB – Talking PointsThe Australian Dollar remains near the top end of the range as it bumps resistanceChinese inflation has eased of late and the PBOC might be poised for actionThe US Dollar had been sliding after weak CPI there. Will AUD/USD make new highs? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Australian Dollar briefly bumped up a touch after Chinese CPI came in at 0.1% year-over-year to the end of April against the…
Reuters reporting on new economic forecasts published by the UK’s National Institute of Economic and Social Research (NIESR): estimated annual consumer price inflation will be 5.4% in the final quarter of 2023 – well above forecasts from the Bank of England of 3.9%NIESR projected full-year consumer price inflation would be 7.4% in 2023 and 3.9% in 2024NIESR expects the BoE to raise its key interest rate later on Thursday to 4.5% from 4.25%, in what would be its 12th consecutive rate increaseBoE is unlikely to bring inflation back to its 2% target until late 2025, NIESR predicts—Earlier:— Source link
Share: Gold price rallies on US CPI and soft US dollar, but bears are lurking. Gold price is eating into the support structure on the backside of the counter-trendline. Gold price rallied towards new all-time highs with there not being any surprise in the US Consumer Price Index. XAU/USD traveled from a low of $2,025 and reached a high of $2,048 on the day. The US Dollar ended the day lower amid lower US yields. The US Dollar Index (DXY), which measures the greenback vs. a basket of currencies, including the Aussie, ended around 101.40, as it remains above the key support of…
hapabapa Shares of Y-mAbs Therapeutics (NASDAQ:YMAB) rose ~9% on Wednesday after Wedbush upgraded the cancer drugmaker following its Q1 2023 results, citing the sales of its neuroblastoma therapy Danyelza and the updates from its SADA program. Raising his recommendation to Outperform from Neutral, the analyst David Nierengarten sees Danyelza returning to growth as its sales for Q1 2023 stood at $20.3M, indicating a 93% and 24% rise sequentially and year-over-year, respectively, ahead of the firm’s forecast. Nierengarten also highlights Y-mAbs’ attempts to advance Danyelza towards additional indications, including osteosarcoma, and for newly diagnosed neuroblastoma with induction chemotherapy. Citing the second…
GOLD PRICES FORECAST:Gold prices retreat and gives up early session gains induced by the April U.S. inflation reportU.S. Treasury yields move lower, but fail to boost precious metals on a sustained basisThis article looks at key tech levels to watch on XAU/USD over the coming days Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Nasdaq 100 on Verge of Bullish Breakout, USD/JPY Crushed by Slowing US InflationGold was on a wild ride on Wednesday. In early morning trading, the precious metal managed to rally nearly 0.85% after softer-than-expected U.S. CPI data sparked a steep pullback in U.S.…
© Reuters. People stand near the site where two Palestinian Islamic Jihad gunmen were killed in an Israeli raid in Qabatiya, near Jenin, in the Israeli-occupied West Bank May 10, 2023. REUTERS/ Raneen Sawafta By Nidal al-Mughrabi and Maayan Lubell GAZA/JERUSALEM (Reuters) – Egypt began mediating an end to two days of cross-border fighting in Gaza on Wednesday that saw Israel’s air force hit Islamic Jihad targets and Palestinian militants in the enclave launch salvoes of rockets across the border as far as Tel Aviv. The second round of cross-border fire in a week came after Israel launched strikes on…