Author: FX
Share: Banxico will get January inflation data today – and is likely to continue its rate hikes. Economists at Commerzbank analyze how could these events impact the Peso. Banxico could surprise with a big rate step “A small rise in inflation rates is likely to fuel market expectations that Banxico will deliver a small rate step and sounds hawkish, i.e. will leave the door open for further rate hikes. If, however, Banxico delivers less this is likely to cause disappointment and put pressure on the MXN.” “A significant upside surprise regarding the inflation data might fuel expectations of…
WTI PRICE, CHARTS and ANALYSIS: Recommended by Zain Vawda Get Your Free Oil Forecast WTI FUNDAMENTAL OUTLOOKCrude Oil continued its rise in early European trade today after hitting $78.50 a barrel yesterday, a fresh weekly high. The recovery has been swift following a bounce off support at the January low, printing a double bottom pattern.On Wednesday the US Energy and Information Administration (EIA) announced that weekly crude oil inventory levels have reached their highest since June 2021, while production has reached a high last seen in April 2020. The EIA report indicated 2.42 million barrels in inventories for the week…
ASE Technology December revenue down 19.3% Y/Y Source link
© Reuters. FILE PHOTO: The logos of Nippon Steel Corp. are didplayed at the company headquarters in Tokyo, Japan March 18, 2019. Picture taken March 18, 2019. REUTERS/Yuka Obayashi (Reuters) – Japan’s top steelmaker Nippon Steel Corp on Thursday posted a 2% increase in April-December net profit to 517 billion yen ($4 billion) and said it would pay a record-high full-year dividend of 180 yen per share. Nippon Steel, which kept its full-year net profit forecast unchanged at 670 billion yen, paid an annual dividend of 160 yen per share last year. Japan’s financial year ends on March 31. The…
AUD/USD ANALYSIS & TALKING POINTSTwo hawkish central banks (RBA and Fed) battle it out.U.S. jobless claims in focus later today.AUD/USD sandwiched between 0.69 and 0.70 respectively. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Australian dollar showed its resilience this Thursday morning after a hatful of Fed officials announced rather aggressive and consistent commentary around the Fed’s monetary policy going forward. All speakers cited the possibility of further rate hikes should inflation…
BTC, Daily Yesterday, (February 9) Bitcoin suffered a sharp decline (-4.98%), with the crypto recently registering a low at the $21.600 level. Nevertheless, a major technical signal observed at the beginning of the week on different exchanges could contribute to a radical reversal of the trend in the price of BTC in the coming days or even weeks to come. Indeed a “Golden Cross” has been confirmed on several exchanges (Binance, Kraken, Kucoin); and could also form in the CFD markets. This is one of the best-known bullish technical signals for market players, which consists of a crossing of two…
After risk appetite soured in trading yesterday, we are seeing things run back the other way in European trading today. The dollar is on the softer side as we see equities tilt higher, with European stocks putting up solid gains and US futures also higher. S&P 500 futures are now up 30 points, or 0.7%, on the day.That said, this doesn’t change much for the dollar. I outlined the technical outlook for some dollar pairs here yesterday and they aren’t very much different at the moment as the pushing and pulling continues to play out.As mentioned then, EUR/USD is still…
Share: In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, further downside could drag NZD/USD to the 0.6260 region in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday that NZD ‘is still consolidating’ and we expected it to ‘trade within a range of 0.6285/0.6360’. Our view for consolidation was not wrong even though NZD traded within a narrower range than expected (0.6298/0.6348). The price actions offer no fresh clues and NZD is likely to consolidate further. Expected range for today, 0.6290/0.6360.” Next 1-3 weeks: “On Monday (06 Feb,…
A bout of risk-taking sent the safe-haven gold lower last week. Spot gold (XAU/USD) hit highs near $1,960 when monetary policy decisions by the Fed, BOE, and ECB hit the markets. Basically, while central bank members are still watching inflation, they’re also willing to adjust their policies if needed. The prospect of less hawkish biases encouraged risk-taking and gold-dumping. Spot Gold (XAU/USD) 1-Hour Chart by TradingView XAU/USD plummeted all the way to $1,860 before gold buyers said “aight, that’s enough.” The pair is now consolidating in a lowkey ascending channel while hanging out at a trend line support that’s been…
FEDSpeak – in virtual union about higher rates (along with Dimon “too early to declare victory vs. inflation”) – Fed Funds terminal rate now 5.122%. USDindex holds at 1-mth highs in flat FX markets, US10yr yield 3.653. Google’s AI the “Bard” bombed (got a wrong answer in a promo demo) – #Alphabet shares tanked -9% at one point but closed -7.7% before recovering back to flat after hours. One to Watch at US Open later, along with #DISNEY – Earnings & Revenue beat (+5.4% after hours)- Iger announced 7k job losses (3.6%) as Disney+ subscribers fell for first time since…