Author: FX
Weak U.S. data and bank jitters got the dollar bears excited earlier this week! In case you missed it, the U.S. dollar lost most of its intraweek gains after a report showed U.S. layoffs growing to their highest levels since 2000 while the rate of job quitters fell to a two-year low. Meanwhile, U.S. factory orders also missed their estimates. Not good when traders are already worried about the U.S. debt ceiling and the Fed raising its interest rates despite signs of a growth slowdown. The U.S. dollar index (DXY), which hit 102.40 this week, is now trading closer to…
Rise in energy costs smaller than what we forecast six months agoBut tight labour market, services demand to fuel domestic inflation pressuresJust some token remarks in general but these are a bit of a heads up to the next set of economic forecasts, which will be unveiled this coming Friday. Source link
Cable’s short-term uptrend is looking pretty solid right now! Is it time to go with the flow with this bullish divergence forming? As you can see from the chart below, GBP/USD has formed higher lows while Stochastic made lower lows, suggesting a buildup in upside pressure. GBP/USD 1-hour Forex Charts by TV In that case, the pair might be able to sustain its bounce off the ascending channel bottom and set its sights on the next resistance levels. Pound bulls could aim for the top of the channel near the 1.2600 major psychological mark or at least the mid-channel area…
Share: Natural Gas price grinds higher after reversing from two-week low, prints the first daily gains in three. Clear downside break of 100-SMA, bearish MACD signals favor XNG/USD sellers. Two-month-old descending trend line appears crucial hurdle for Natural Gas buyers to tackle. Natural Gas (XNG/USD) price seesaws around the intraday high of $2.32 as bulls await fresh clues to extend the previous day’s rebound from a 12-day low. In doing so, the energy instrument traces the broad market anxiety ahead of the key Federal Open Market Committee (FOMC) monetary policy meeting announcements early Wednesday. It’s worth noting that the…
Gold, XAU/USD, Treasury Yields, KBW Bank Index, US Dollar, FOMC, Fed – Talking PointsThe gold price broke recent range shackles as it launched toward new highsTreasury yields dipped as risk appetite ran for the hills on regional banking woesAll eyes are on the Fed later today. If they hint at a more hawkish tilt, where will gold go? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Gold broke higher in the overnight session, racing above US$ 2,000 an ounce with risk sentiment sinking which saw Treasuries…
alengo/E+ via Getty Images Albemarle (NYSE:ALB) said Tuesday it plans to spend $1.25B-$1.5B to build two additional processing trains at its Kemerton lithium hydroxide plant in Western Australia, which would make the company Australia’s largest lithium producer. The company said the additional trains would increase the plant’s production by 50K metric tons/year and raise annual production capacity across the four trains to 100K tons, enough to produce batteries for more than 2M electric vehicles each year. Kemerton and its first two processing trains were completed in 2022 at a cost of ~$1B and are part of the MARBL lithium joint…
2/2 © Reuters. Florida Governor Ron DeSantis walks outside the Treasury during his visit in London, Britain April 28, 2023. REUTERS/Henry Nicholls/File Photo 2/2 By Isla Binnie and Ross Kerber (Reuters) – Florida governor Ron DeSantis signed into law on Tuesday a bill barring state officials from investing public money to promote environmental, social and governance goals, and prohibiting ESG bond sales. The bill is one of the furthest-reaching efforts yet by U.S. Republicans against sustainable investing efforts, and a clear political message from DeSantis, a likely presidential candidate. Republicans, including some from energy-producing states, say many executives and investors…
China was closed on Monday and Tuesday and remains closed today for holidays. Japan is on holidays today, Wednesday, 3 May 2023, and for the rest of this week. Japanese markets will be closed. Via Japan Public Holidays 2023: This article was written by Eamonn Sheridan at www.forexlive.com. Source link
More big moves may be ahead for EUR/JPY with the European Central Bank (ECB) expected to hike interest rates this week. Let’s take a quick look to see why traders may jump in long on EUR/JPY if the market pulls back. EUR/JPY 1-Hour Forex Chart by TV What’s up forex fiends! Today we’re taking a look at the EUR/JPY currency pair, which made a strong bullish move last week after a bearish reaction in the Japanese yen sparked by the Bank of Japan. Last Friday, the BOJ disappointed yen bulls by setting the expectation that a monetary policy review would likely…
Share: NZD/USD bears are lurking in a key resistance zone. All eyes turn to the NZ jobs data today. NZD/USD is pressured to the upside as we head towards the main events this week, starting today, Wednesday. On Tuesday, the pair rallied to 0.6218, and is now meeting resistance. The pair was up 0.68% into the close in Wall Street and had moved up from a low of 0.6163. ´´The Kiwi was one of the better performers overnight, having extended or held up on most crosses. It even clawed back losses against the AUD in the wake of…