Author: FX

EURUSD moved down to swing area between 0.8876 to 0.8884The low price did dip to 0.8874, but quickly bounced. The rising 200 hour MA is also in play at 0.8870.Move below 0.88764 and the 200 hour MA at 0.8870 and the sellers take more control. The 50% at 0.8850 would be the next major target. Conversely hold here and traders will look toward 0.8897. Not only was it a low during yesterday’s trade, but has also been near swing highs from February 2 and also going back to January 13. Source link

Share: USD/CAD bulls are moving in despite the prior day’s bearish close.  The US Dollar has firmed on hawkish sentiment brewing around the Fed again and a dovish BoC.  In this scenario, we have a 61.8% Fibonacci retracement level near 1.3350 below the neckline near 1.3380. However, given that the price is attempting to close higher for the day, that will leave an emphasis on the upside where eyes look to 1.3475.  The Canadian Dollar is trapped between 1.3440 and 1.3420s, below a 2-½-month high of 1.326 that was scored at the start of the month. The US Dollar continues…

Interpublic Group of Companies Q4 2022 Earnings Preview Source link

The US treasury will auction off $35B of 10 year bonds at the top of the hour. The 6 month averages of key components shows:Bid to cover 2.39XDirects (a measure of domestic demand) 18.6%Indirects (a measure of international demand) 62.9%Dealers (Dealers take the rest) 18.5%Tail 1.6 bpsThe 3 year auction did not go well yesterday with a tail of 4 basis points and a low bid to cover. Will the buyers come in for this auction? Last month the Bid to cover was 2.53X and the tail was -0.5 basis points. Source link

Silver Technical Analysis Recommended by Richard Snow Read about the top opportunities in Q1 2023 Silver Attempts to Find Support at Well-Known LevelSilver, much like gold, has witnessed an impressive run up which has recently come under threat. An approach of the zone of resistance with a midpoint of 25.00 – which has halted bullish price action in the past – proved too much to handle once again, resulting in a decline of over 10% during the last 4 trading days.The weekly chart below helps reveal the band that has contained the majority of price action since September 2021. The…

Share: Gold price is printing minimal gains of 0.14%, bolstered by lower US real yields. Federal Reserve officials remain committed to tackling high inflation in the US, as said by Fed’s Williams and Cook. Gold Price Forecast: Sideways, after diving from the YTD high to the 50-DMA. Gold price is almost flat during the North American session, meandering around the $1870 area after hitting a daily high of $1886.35, though it failed to gain traction as the US Dollar (USD) pares some of its earlier losses. At the time of writing, XAU/USD is trading at around $1875, above…

FTSE 100 Reaches New High as Resilient Earnings Fuel SentimentFTSE 100 records another fresh all-time high as resilient earnings boost UK equities.BT Group PLC, Persimmon and BP lead gains.The 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 Tammy Da Costa Get Your Free Equities Forecast FTSE 100 Boosted by Upbeat EarningsThe FTSE 100 has reached a fresh all-time high of 7934.3, bolstered by upbeat earnings and renewed optimism of a near-term Fed pivot. Following the release of record Q4 2022 profits for oil…

Notable earnings before Thursday's open Source link

© Reuters. FILE PHOTO: A logo of Google is seen at an office building in Zurich, Switzerland July 1, 2020. REUTERS/Arnd Wiegmann STOCKHOLM (Reuters) -Google said on Wednesday it would soon integrate artificial intelligence (AI) capable of generating text and other content in search results, as it battles to answer the challenge of Microsoft (NASDAQ:)’s popular AI chatbot ChatGPT. Alphabet-owned Google (NASDAQ:) unveiled on Monday its own chatbot service, called Bard. At a launch event in Paris on Wednesday, Google executive Prabhakar Raghavan said so-called generative AI would enable users to interact with information in “entirely new ways”. “They might…

The economic calendar is light today but Fedspeak is likely to be a market mover. The lone data points are wholesale sales at 10 am ET and the weekly EIA petroleum data at 10:30 am ET.The events to watch are Fedspeak with a quartet of speakers coming up:9:20 am ET Williams9:30 am ET Cook10 am ET Bostic and Barr Source link