Author: FX
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CRUDE OIL PRICES OUTLOOK:Crude oil prices have lacked directional conviction after failing to break through confluence resistance last weekWTI futures have been swinging back and forth between ~$77.50 and ~$74.00 in recent days, awaiting the next market catalystsThis article looks at oil key technical levels to watch in the coming trading sessions Recommended by Diego Colman Get Your Free Oil Forecast Most Read: Gold Suffers Setback as USD and Yields Blast Off. Will XAU/USD Break Down?Crude oil as measured by WTI futures has rallied strongly since late June through the first two weeks of this month, but upward momentum has…
© Reuters. FILE PHOTO: Smartphone with Netflix logo is placed on a keyboard in this illustration taken April 19, 2022. REUTERS/Dado Ruvic/ By Samrhitha A (Reuters) -Shares of Netflix (NASDAQ:) tumbled more than 8% on Thursday after the video-streaming pioneer’s lackluster revenue rise sparked concerns of a longer road to growth from its new initiatives. The company added nearly 6 million subscribers in the second quarter – almost three times above Wall Street’s expectations – thanks to a crackdown on password sharing and the introduction of a cheaper subscription tier that is bundled with advertising. However, quarterly revenue growth and…
GOLD PRICE FORECAST:Gold prices slide as U.S. yields resume rebound following better-than-expected dataU.S. dollar strength also weigh on precious metalsThis article looks at key XAU/USD’s tech levels to watch in the coming days Recommended by Diego Colman Get Your Free Gold Forecast Most Read: How to Trade Gold – Top Gold Trading Strategies and TipsAfter a strong performance earlier in the week, gold prices (XAU/USD) were subdued on Thursday, falling roughly 0.5% to $1,967, undercut by soaring U.S. bond yields and U.S. dollar strength following better-than-expected economic figures in the United States.In the morning, a Department of Labor report showed…
The US dollar is strong across the board today and that’s weighing on the euro, which ended an 8-day rally this week. Yesterday, I talked about the opportunity to sell the euro in a video but didn’t mention targets.An initial one is 1.1095, which was the old series of highs in April.EURUSD dailyThat would make for a decent short term trade but I’m bearish in eurozone economic prospects and increasingly worried that the Federal Reserve will need to hike to 6% or hold rates high throughout 2024. The market is pricing some of that in today with US yields up…
SARB RATE DECISION, USD/ZAR PRICE FORECAST: Recommended by Zain Vawda Get Your Free Top Trading Opportunities Forecast MOST READ: Dollar Index (DXY) Eyes Deeper Recovery with USD/CHF at 12-Year Lows DThe South African Reserve Bank (SARB) opted for a pause on its hiking cycle with Governor Lesetja Kganyago responding to a question of whether rates have peaked with “a resounding NO”. Despite this Deputy Governor Kuben Naidoo did mention that the Reserve Bank sees itself on a “glide path’” if you will to the Reserve Banks targeted band of inflation.Food prices was once more cited as a concern despite the…
Share: Interest rate differentials have played a huge part in driving the EUR/USD exchange rate this year. Economists at Rabobank analyze the pair’s outlook. ECB is close to reaching its peak in policy rates The release of weaker-than-expected US CPI inflation data last week cemented market expectations that the Fed will reach its peak policy rates after an anticipated 25 bps hike in rates next week. As a result, the USD lurched lower across the board. In the coming months, it is very likely that the ECB will also reach its peak policy rate, and this is likely…
GBP/USD Prices, Charts, and AnalysisTumbling Gilt yields pull Sterling-pairs lower.GBP/JPY testing short-term support again. Recommended by Nick Cawley Download our Brand New Q3 GBP Forecast UK inflation fell to its lowest level in over a year Wednesday and came in below market expectations. Headline CPI rose by 7.9% in the 12 months to June 2023, down from 8.7% in the previous month, and down from a peak of 11.1% in October 2022. Transport, furniture and household goods, restaurants and hotels, and food prices all fell, according to the Office for National Statistics (ONS).UK (GBP) Breaking News: UK CPI Miss Troubles…
Wachiwit After it was reported that Apple (NASDAQ:AAPL) had built an internal ChatGPT-style bot for its employees, investment firm Citi said the tech giant is likely playing “catch up” with trends in artificial intelligence. “Based on Apple’s AI hiring efforts related to areas including Siri, Creativity Apps, Search, and secretive Special Project Group, we believe Apple is aiming to catch up with the AI trends across both infrastructure and applications,” analyst Atif Malik wrote in an investor note. “We foresee Apple’s upcoming devices to further build on their predecessors’ AI computing processing capabilities with advanced Siri and Gen AI based…
FTSE News and Analysis Recommended by Richard Snow See where the opportunities lie in Q3 Homebuilders respond to better-than-expected UK inflation dataYesterday’s encouraging move lower in core inflation ushered in a welcomed sigh of relief for UK citizens after battling to get wider price pressures under control. The core CPI print of 6.9% compared to the expected 7.1% figure represents a small victory in the grander scheme of things but does reveal that inflation is headed in the right direction.Homebuilders were one of the major beneficiaries of the softer inflation print with Persimmon and Barrett Development experiencing a notable recovery…