Author: FX
WTI PRICE, CHARTS and ANALYSIS: Recommended by Zain Vawda How to Trade Oil Most Read: Breaking News: CPI Miss Confirms Cooling UK Inflation, GBP on OfferWTI FUNDAMENTAL OUTLOOKCrude Oil faced renewed selling pressure yesterday as US inventories showed an increase of 10.507 million barrels per the American Petroleum Institute (API) report. This was coupled with a return of US dollar strength in the US session which added a further obstacle as WTI looks to regain the $80 a barrel mark.OPEC+ meanwhile released their updated projections for 2023 yesterday with the group raising their demand forecast by 100,000bpd. The group expressed…
US CPI DATA provided a real mixed bag. Monthly data higher & annual data lower to 6.4% from 6.5% but missed expectations of 6.2%. A volatile session – USD finishing higher and Stocks (-0.46% to +0.57%) were mixed. The 2yr yield curve rose further and the inversion between that and the 10yr curve widened to -83bp. The Fed Funds Futures is now pushing the terminal rate over the 5.25% level. Overnight RBA’s LOWE issued a gloomy outlook & “unsure how high rates can go” – AUD tanked, Kishida said Ueda was the “best” candidate and unsure on policy change. Asian markets biased lower.…
The latest U.S. inflation numbers are out and more Fed officials have weighed in! In case you missed it, Uncle Sam just showed that consumer prices have eased from 6.5% to an annualized growth of 6.4% in January. Thing is, markets were expecting a dip to 6.2%. Monthly prices also rose by another 0.5% in January and hinted that a high inflation would not be “transitory” as Fed had expected. Higher and stickier inflation numbers only supported the Fed members’ recent remarks about raising interest rates further or keeping their rates high for longer. U.S. Dollar Index (DXY): 4-Hour U.S.…
After the US CPI data, we now move on to the US retail sales data. It’s all about what is on the economic calendar these days as markets are pretty much stuck on this rollercoaster ride. The risk mood is softer today but that can all change depending on what we get from the data later today.Meanwhile, the dollar is sitting firmer but the key technical levels outlined here are all still very much in play. That will keep traders on edge as the debate rages on about whether broader markets have it right or the Fed’s more hawkish outlook…
CME Group’s flash data for gold futures markets noted traders extended the downtrend for yet another session on Tuesday, this time by just 121 contrac Source link
Understanding how currency prices move can be a daunting task. Traders would often attempt to predict what price would do, whether it will go up or down and at what level it would reverse. Often this ends in a failed attempt on predicting the forex market. The market can do whatever it wants to do, and it is often very fickle. However, there are certain conditions that may help traders anticipate which direction price will most likely be going. Momentum is one of the telltale signs that price is more likely to move in a certain direction. It is not…
I’ve got a couple of simple trend correction setups on Tesla Inc (TSLA) shares and EUR/CAD. Will these areas of interest hold as resistance again? Make sure you don’t miss ’em! Tesla Inc (TSLA): 4-hour Tesla Inc (TSLA) 4-hour Chart by TradingView Tesla bulls, watch out! The stock price is closing in on a former support zone that might hold as a ceiling. This happens to be right around a falling trend line and the 50-61.8% Fibonacci retracement levels. Will sellers return right here? Technical indicators are saying that bearish vibes are already present, as the 100 SMA is still…
US Dollar, Federal Reserve, CPI, AUD/USD, USD/JPY, Ueda – Talking PointsThe US Dollar resumed strengthening today in the CPI aftermathUSD/JPY is nudging recent peaks after a new BoJ Governor was anointedThe Fed reminded markets of their intention and yields responded Recommended by Daniel McCarthy How to Trade USD/JPY The US Dollar is firmer today heading into the European session after yesterday’s US CPI data overshot the mark. The headline number came in at 6.4% y/y rather than 6.2% due to an upward revision in the December read.The January increase in prices of 0.5% m/m hit forecasts but the December number…
© Reuters. FILE PHOTO: Former Starbucks CEO Howard Schultz speaks during his book tour in Seattle, Washington, U.S., January 31, 2019. REUTERS/Jason Redmond By David Shepardson WASHINGTON (Reuters) -Starbucks Corp Chief Executive Howard Schultz declined an invitation from 11 senators to testify on March 9 on the coffee company’s compliance with federal labor law, according to a letter seen by Reuters late on Tuesday. Last week, U.S. Senator Bernie Sanders, who chairs a committee on labor issues, and 10 other members of the committee asked Schultz to answer by Feb. 14 whether he would take part. Schultz, who re-joined Starbucks…
<ul><li><a href="https://www.forexlive.com/news/australian-jobs-report-is-due-thursday-16-february-2023-preview-20230215/">Australian jobs report is due Thursday, 16 February 2023 – preview</a></li><li><a href="https://www.forexlive.com/news/canada-bans-all-research-funding-with-chinese-military-and-state-security-institutions-20230215/">Canada bans all research funding with Chinese military and state security institutions</a></li><li><a href="https://www.forexlive.com/centralbank/european-centralbank-president-lagarde-is-speaking-on-wednesday-15-february-2023-20230215/">European Central Bank President Lagarde is speaking on Wednesday, 15 February 2023</a></li><li><a href="https://www.forexlive.com/centralbank/japan-pm-kishida-spoke-on-his-selection-of-uead-as-new-boj-head-the-best-20230215/">Japan PM Kishida spoke on his selection of Uead as new BOJ head – "the best"</a></li><li><a href="https://www.forexlive.com/centralbank/rba-gov-lowe-says-not-at-the-peak-for-rates-yet-unsure-how-high-they-go-20230215/">RBA Gov. Lowe says not at the peak for rates yet, unsure how high they go</a></li><li><a href="https://www.forexlive.com/news/goldman-sachs-says-russian-oil-sold-for-significantly-more-than-quoted-prices-up-to-us25-20230215/">Goldman Sachs says Russian oil sold for significantly more than quoted prices, up to US$25</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-1-year-mlf-unchanged-rate-of-275-20230215/">PBOC 1 year MLF unchanged rate of 2.75%</a></li><li><a href="https://www.forexlive.com/centralbank/pboc-sets-usd-cny-reference-rate-for-today-at-68183-vs-estimate-at-68196-20230215/">PBOC sets USD/ CNY reference rate for today at…