Author: FX
EUR/USD failed to make a decisive move in either direction and closed the day flat. Economists at ING highlight two key technical levels to watch. 200-Day Moving Average is now at 1.0350 “If we were to pick out two levels, we would say the 1.0600/10610 area is key resistance. A close above that on a soft US CPI release would warn of a lot more pain into year-end and EUR/USD drifting up to 1.0800 and even 1.0950/1.1000.” “On the downside, the 200-Day Moving Average is now at 1.0350 and would be a level any investors trapped long Dollars at higher…
Trading Leveraged Products is risky The USD Index holds under 105.00, currently at 104.80 as the USD consolidates ahead of today’s CPI data. US Stocks rallied on Monday (Dow the strongest +1.58%). Yields rallied over 1.23% with the 10yr closing at and holds today at 3.611%. Asian markets mixed & European FUTS are also lower as Chinese Covid infections continue to rise. Former FTX CEO Bankman-Fried has been in the Bahamas at the “behest of U.S. prosecutors” a day before he was due to testify to Congress. Reuters also reported that Binance is under investigation…
© Reuters. FILE PHOTO: A White House press aide looks on as U.S. President Joe Biden, isolating following his COVID-19 diagnosis, appears virtually in a meeting with business and labor leaders about the Chips Act — relating to U.S. domestic chip and semiconductor (Reuters) -The United States has spoken with its partners, including Japan and the Netherlands, to tighten chip-related exports to China, Jake Sullivan, the White House national security adviser, said on Monday. The Biden administration aims to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment, in a bid to slow Beijing’s…
Looking to go with the flow or hoping to catch a reversal? Either way I’ve got you covered with these setups on WTI crude oil and GBP/NZD! Better keep close tabs on these inflection points: GBP/NZD 1-hour Forex Chart Heads up for a reversal on this one! GBP/NZD made a couple of failed attempts to bust through the 1.9100 mark, creating a double bottom on its hourly time frame. The pair seems to be setting its sights back on the neckline resistance at the 1.9350 minor psychological level, and a break higher could spur an uptrend that’s the same height…
New Fortress Energy declares $3.00 dividend, revises dividend policy Source link
BlackRock expect hikes this week from the Fed, ECB and BoE and then more to come:Getting inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money.…
Gold price picks up bids to consolidate the biggest daily loss in a week. Rising wedge confirmation, hawkish Fed bets challenge XAU/USD buyers despite US Dollar’s retreat. US CPI for November bears downbeat forecasts but Core CPI signals firmer outcomes and can challenge Gold buyers. Gold price (XAU/USD) retreats from intraday high as bulls battle with the key support-turned-resistance below $1,800 during early Tuesday morning in Europe. In doing so, the yellow metal cheers the broad pullback in the US Dollar ahead of the key US Consumer Price Index (CPI) for November. Also fueling the quote could be the market’s…
© Reuters. FILE PHOTO: Peru’s President Dina Boluarte attends a ceremony to commemorate the Day of the Peruvian Army and the anniversary of the Battle of Ayacucho, in Lima, Peru December 9, 2022. Peru’s Presidency/Handout via REUTERS By Marco Aquino LIMA (Reuters) – Peru’s new president offered lawmakers a plan to bring elections forward by two years on Monday, after the ouster of her predecessor last week sparked protests that have left at least six dead. President Dina Boluarte, previously the vice president, was sworn in last week after former President Pedro Castillo was removed by Congress and arrested for…
Robert Way/iStock Editorial via Getty Images Chinese EV maker Zeekr, a unit of auto giant Geely, has reportedly filed confidentially for a US initial public offering that could seek to raise over $1B. The IPO filing comes as Zeekr prepares to enter the European EV market. The Geely unit was reportedly valued at around $9B during a funding round last year, according to Reuters, who cited unnamed sources close to the matter. Zeekr would be the latest Chinese EV maker to list on the US market, joining NIO (NIO), Li Auto (LI), BYD (OTCPK:BYDDF) and Xpeng (XPEV). US-based Telsa (TSLA)…
JP Morgan with the bait-type headline:(ps that link has details of the timing and expectations for the CPI data)Goldman Sachs are a little more restrained, they see gains for the S&P of above 3% if the US CPI comes in under 7%.More:a reading 7 to 7.3% would see 2 to 3% added to the S&P500from 7.4 to 7.7 sees the S&P drop 1 to 2%above 7.7% sees losses of more than 3%Goldman Sachs are wary of a big bounce for the S&P citing a lessening of the extreme bearish position that existed during the fall. This has meaningfully unwound in…