Author: FX
Share: The US Dollar is set to finish the week with solid gains due to Fed’s hawkish comments and US data. US Consumer Sentiment improved, as reported by the University of Michigan. The UK avoided a recession in Q4 2022, though its forward economic outlook suggests a weaker British Pound. GBP/USD Price Analysis: A daily close below 1.2032 would resume a bearish continuation. GBP/USD snaps three straight days of gains and drops as it tested the 50-day Exponential Moving Average (EMA) at 1.2126, as UK economic data showed the economy did not grow, while consumer sentiment in the…
<ul><li>Oil rigs +10 to 609 vs. 599 last week</li><li>Gas rigs -8 to 150 vs. 158 last week</li><li>Total rigs +2 to 761 vs. 759 last week</li></ul><p>Crude oil was trading at $79.25 ahead of the report</p> This article was written by Greg Michalowski at www.forexlive.com. Source link
Philadelphia Fed Pres. Patrick HarkerThe Fed comments are not panicking after the stronger-than-expected jobs report. The game plan to get rates to 5% – 5.25% seems to be the central tendency (although the door remains open for something more). The US CPI data will be released on Tuesday with expectations of 0.5% versus 0.1% last month. The core is expected to increase by 0.4% which is the same as last month.Of note is the prior month’s were revised higher due to seasonal adjustments. The initial CPI was reported at -0.1% but was revised to +0.1% this morning. The core was…
Waller keeps his comments to digital assets:Crypto asset buyers don’t be surprised if a value goes to zero, don’t expect taxpayers to pay for lossesBanks engaging with crypto customers must meet know-your-customer, anti-money laundering requirementsSpillovers minimal so far to financial system from crypto industry stressIt is critical to ensure financial stability risks associated with crypto assets are mitigatedNot much importance in those comments Source link
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AUDUSD trades up and down todayThe AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the…
Share: Gold price extended its losses in the session, down by 0.22%. The University of Michigan’s Consumer Sentiment improved, while inflation expectations jumped for 2023. Gold Price Forecast: Daily close below the 50-EMA could expose Gold to further selling pressure. Gold price remains firm at around $1860 after hitting a week-to-date new low of $1852.45 on Friday due to speculations that the US Federal Reserve would raise rates by 25 bps in the next couple of meetings, as money market futures showed. A bid in the US Dollar and US Treasury bond yields reaching fresh 5-week highs capped…
There were new highs in several European indexes yesterday but for the second day in a row there was also some heavy selling intraday. That was a sign of looming weakness and it manifest today, though not dramatically.On the day:Stoxx 600 +1.3%German DAX -1.4%Francis CAC -0.9%UK’s FTSE 100 -0.5%Spain’s Ibex -1.5%Italy’s FTSE MIB -0.9%On the week:Stoxx 600 -0.7%German DAX -1.1%Francis CAC -1.5%UK’s FTSE 100 -0.3%Spain’s Ibex -1.3%Italy’s FTSE MIB +1.3%I’m not sure how Italy was able to buck the trend, but that’s three weeks in a row of gains for the MIB and four in the past five. For broader…
I don’t like the look of the bitcoin chart… and when you’re trading crypto there isn’t much else to go on. There was a weeks-long period of consolidation around $23,000 in an impressive rally from $17,000 but there was a false breakout to $24,000 and yesterday it broke below the range. The selling has continued today, albeit at a modest pace. It’s down another $180 to $21,650.The bulls will be hoping that the mid-January highs now act as support and that idea has some traction today as it flattens out. Like all markets, bitcoin will be watching Wednesday’s US CPI…
U.S. STOCK MARKET ANALYSIS & OUTLOOKYields hurt growth stocks bringing down U.S. stock prices.Focus will be solely on U.S. CPI next week.Bull flags apparent on both daily SPX and NDX charts. Recommended by Warren Venketas Get Your Free Equities Forecast SPX, NASDAQ 100 FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter U.S. stocks have been under pressure going into next week’s key economic data releases after the carry over effects of the recent Non-Farm Payroll (NFP) report hurt valuations (in particular rate-sensitive growth stocks).…