Author: FX
Euro Area and German GDP Sends EU Assets LowerGerman GDP stagnates, EU confirms growth slowdownEUR/USD pulls back on hotter US inflation data amid a weaker growth outlook, but the uptrend remains in tactDAX index gapped higher but has declined significantly on the pessimistic fundamental dataThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free EUR Forecast German GDP Stagnates, EU GDP Reveals Growth Slow DownQ1 GDP data for Germany narrowly avoided a contraction as the first three months of…
Asian stock markets managed broad gains, with Japanese markets outperforming and the Nikkei rallying 1.4%, after a dovish leaning BoJ announcement that left policy settings unchanged, but signalled a longer term review of the overall framework, while stressing that the easing bias remains in place. The BoJ called for a “broad perspective review” of policy, with a time frame of around 1- to 1.5-years. There was speculation of this, especially after the Nikkei News story hinting as such. But it was not clear it would be announced today at Governor Ueda’s first meeting. The Bank left policy unchanged with a…
The USD boosted to 101.50. More strong earnings reports from big tech boosted Wall Street with US100 advancing 2.43%. Treasury yields also climbed on a more hawkish view on the FOMC’s trajectory after an acceleration in core PCE inflation. Good news from Amazon added to that from Meta, Alphabet and Microsoft and more than countered ongoing concerns over regional banks. In Japan, Kazuo Ueda announced a comprehensive policy review in his first policy board meeting as Bank of Japan governor but held off from changing its ultra-loose monetary stance. BoJ’s Ueda ready to add to easing…
Economic indicators will provide a good judgment on thatCan even be before next year’s labour talks i.e. shunto negotationsNext year’s labour talks will be very important factor for inflationBut does not mean we have to wait for it to make any decisionI would argue that these are decently hawkish remarks as he is opening the door for the potential for policy tweaks and/or changes down the road. However, one can also make a counter-argument that with the already positive wage developments last month, it should’ve been enough for Ueda to lay out his plans; and not kick the can to…
Cable is struggling to find a new direction after breaking a key resistance level. Which way will GBP/USD go? Check out this 4-hour chart! GBP/USD 4-hour Forex Chart by TradingView Cable has had a good couple of weeks, rising from its 1.1820 March lows to trade at its current 1.2490 levels. In fact, GBP/USD’s uptrend has taken the pair past the 1.2450 resistance that led to 600-pip downswings back in December and in early 2023. Now that GBP/USD has passed the resistance, is it ready to make new 2023 highs? April’s range is giving “not so fast” vibes. Watch the…
Share: GBP/USD is hovering near 1.2500, gathering strength for a decisive breakout. The USD Index has regained strength as investors are shifting their focus toward the Fed policy. GBP/USD is consolidating in a range of 1.2436-1.2500 amid the absence of a critical trigger. The GBP/USD pair is consolidating near the psychological resistance of 1.2500 in the Asian session. The Cable is gathering strength for a sustained breakout above 1.2500 after a few failed attempts. Rising expectations of more interest rate hikes from the Bank of England (BoE) to arrest double-digit stubborn inflation are fueling fresh blood into the…
NiseriN/iStock via Getty Images Exxon Mobil (NYSE:XOM) and its partners said Thursday they made a final investment decision to develop their fifth and most expensive project on Guyana’s offshore Stabroek block. The $12.7B Uaru project will produce ~250K bbl/day and cost 27% more than the previous project of equivalent size, reflecting rising costs. The companies said the project, targeted for a 2026 startup, will include up to 10 drill centers and 44 production and injection wells aimed at developing an estimated resource of more than 800M barrels of oil. Two FPSOs, the Liza Destiny and Liza Unity, are currently operating…
© Reuters. A view of private residential apartments and public housing estates in Singapore June 13, 2016. REUTERS/Edgar Su/File Photo (Corrects to restore dropped word in first paragraph) SINGAPORE (Reuters) – Singapore’s private property prices rose in the first quarter, official data showed on Friday, slightly higher than the flash estimate, reinforcing a months-long robust demand that has forced authorities to introduce tough new cooling measures. Singapore’s private residential property price index rose 3.3%% in the first quarter, compared with 3.2% in the flash estimates, and much higher than the 0.4% increase in the previous quarter. Rentals of private residential…
Lloyds Bank survey for its Business Barometer gauge of confidence hit 33% in March (prior 32%)11 month high and above its long-run average of 28measures the difference between respondents who felt more confident or less confident about their trading and economic prospectsThe survey also showed:wage growth hit a seven-month highhiring intentions up for the fifth month in a row, net balance up three points to 27%, the highest level since June of 2022 Source link
Share: EUR/JPY is set to finish the week with minimal gains of 0.18%. EUR/JPY Price Analysis: Trades sideways, with buyers unable to crack 148.00, which, once broken, could pave the way for further upside. The EUR/JPY prints back-to-back positive sessions but stays at around 147.62, almost unchanged, as Thursday’s price action formed a doji. Once the EUR/JPY reached a multi-year high at around 148.63, it was followed by a mean reversion move, ahead of the BoJ’s monetary policy decision, later in the day. At the time of writing, the EUR/JPY is trading at 147.64, gains 0.03%, as the…