Author: FX

The strong USD weakness seen after the miss in the US CPI report was completely erased as the US data kept on printing on the hot side with the US Retail Sales Control Group beating expectations by a big margin and the US Initial Claims returning to record low levels. Yesterday, the US PMIs painted a mixed picture with the Services PMI missing expectations, although remaining in expansion, and the Manufacturing PMI jumping from 46.2 to 49.0, almost rising back into expansion. The RBNZ, on the other hand, kept its official cash rate unchanged while stating that it will remain…

Share: S&P 500 is correcting lower. Economists at Credit Suisse analyze the index outlook. Move above 4,555/60 needed to ease thoughts of a correction lower We see scope for a test of support from the rising 13-day exponential average, currently placed at 4,500, but we look for an attempt to hold here on a closing basis and for the risk to then turn higher again. A close below 4,500 though would suggest a more concerted correction lower is underway, for support next at 4,448/39, potentially back into the 4,400/4,385 zone. Above 4,555/60 is now seen needed to ease…

AUD/USD is starting to trend lower ahead of Australia’s quarterly CPI report and the FOMC decision. Can these resistance levels hold? On the hourly time frame, I can see a fresh downtrend forming, as the pair made lower highs connected by a descending trend line. AUD/USD 1-hour Forex Chart by TV This pair is already testing the 38.2% Fibonacci retracement on its latest swing high and low, but it might still be in for a larger pullback ahead of the CPI release. If so, AUD/USD could test the 50% Fib or the 61.8% level closer to the falling trend line…

Australian Dollar Vs US Dollar, Euro, British Pound – Price Setups:AUD jumped on reports that Chinese authorities have pledged to shore up the economy.Key focus is now on Australia CPI data due Wednesday.What is the outlook for AUD/USD, GBP/AUD, and EUR/AUD? Recommended by Manish Jaradi Get Your Free Equities Forecast The Australian dollar surged against some of its peers after Chinese authorities pledged to stimulate the economy.Markets took comfort after media reports quoted state news agency Xinhua saying China will shore up economic policy adjustments, focusing on expanding domestic demand, boosting confidence, and preventing risks. The agency also quoted President…

Five Star Bancorp GAAP EPS of $0.74 beats by $0.08, revenue of $30.4M beats by $0.72M Source link

The U.S. dollar index (DXY) is approaching a key resistance zone! Will the Greenback soon give up its upswing? Let’s take a look at the 4-hour chart: U.S. Dollar Index (DXY) 4-hour Forex Chart by TV As you can see, DXY had fallen from the 104.00 area of interest and was making lower highs and lower lows until it found buyers in mid-July. The index is now trading above 101.00, which is pretty close to the 100 SMA on the 4-hour time frame. Not only that, but the dollar’s current levels are also not far from the 50% Fibonacci retracement…

Major state-owned banks have been spotted selling USD to buy yuan in both onshore and offshore spotUSD/CNY and USD/CNHUSD/CNH update: This article was written by Eamonn Sheridan at www.forexlive.com. Source link

Share: Gold price attracts some buying on Tuesday and snaps a four-day losing streak to a one-week low. Looming recession risks lend support to the safe-haven metal amid a modest US Dollar downtick. The upside seems limited ahead of this week’s key central bank event risks and important US data. Gold price gains some positive traction during the Asian session on Tuesday and for now, seems to have snapped a four-day losing streak to over a one-week low touched the previous day. The XAU/USD currently trades around the $1,960 level, up 0.25% for the day, as traders keenly…

kodda/iStock via Getty Images West Virginia’s Attorney General filed a brief Monday asking the U.S. Supreme Court to set aside last week’s court ruling that blocked construction of the Mountain Valley Pipeline in spite of a Congressional order clearing the way for the project. AG Patrick Morrisey argued the U.S. Fourth Circuit Court of Appeals lacked jurisdiction to block the pipeline after Congress passed legislation ordering all necessary permits be issued for the project. Environmentalists have said Congress overstepped its authority by enacting the law, saying it violates the separation of powers outlined in the Constitution. The pipeline’s operators said…

Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as “other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops.” Two major crypto lobbying groups slammed the legislation: Coin Center and the Blockchain Association. The former released separate statements describing the legislation as a “messy,” “unworkable” and “unconstitutional” way of regulating DeFi. Kristin…