Author: FX
2/2 © Reuters. FILE PHOTO: An aerial view shows people watching near a landslide caused by a heavy rains, in Arequipa, Peru February 6, 2023. REUTERS/Oswaldo Charcas 2/2 (Reuters) – The death toll from a massive landslide that struck southern Peru rose to at least 15 on Tuesday, according to a government tally, after dozens of homes were swallowed up by dirt and mud following heavy rainfall last weekend. Another 20 people were injured after the landslide struck on Sunday near the riverside town of Secocha, about 125 miles (200 km) northwest of the city of Arequipia. Another two people…
Nasdaq 5 minsThe intraday chart of the Nasdaq tells the story. Initially, Powell didn’t change his tone and the market liked that. Later though, he said they could hike rates higher if the data stays strong (and he said so unprompted).”The reality is that we’re going to react to the data,” he said. “We may well have to do more than what markets are expecting.”The reaction shows just how delicate the market is to Fed commentary. It’s a similar story in FX with cable doing a 100 pip round trip. Source link
Share: The US Dollar longs were cleared out on Fed chairman Powell. However, the drop in the greenback could be seen as a discount to the most bullish of the US Dollar bulls. The US Dollar, as measured by the DXY index, fell from a high of 103.49 to a low of 103.001 after comments from Federal Reserve’s Jerome Powell circulated the wires. Powell is peaking at The Economic Club of Washington, D.C. Signature Event and repeated much of the same as he did at the press conference that followed last week’s interest rate decision. Key comments The jobs…
travellinglight/iStock via Getty Images The shares of Anavex Life Sciences (NASDAQ:AVXL) reached the highest level since early December on Tuesday after the Alzheimer’s drug developer announced financials for Q1 fiscal 2023 highlighting its near-term catalysts. Anavex (AVXL), based in New York, reported ~$143.6M in cash and equivalents at the end of the quarter, indicating a ~4% decline from the end of FY22 as net loss climbed ~19% YoY to $13.0M. Reiterating the guidance, the management said that the company’s cash runway is adequate to fund operations and clinical programs beyond the next four years. On the clinical front, Anavex (AVXL)…
U.S. DOLLAR ANALYSIS & TALKING POINTSUSD looks to Jerome Powell for direction – will the rally continue?Key inflection point on daily DXY chart awaiting catalyst. Recommended by Warren Venketas Get Your Free USD Forecast USD FUNDAMENTAL BACKDROPThe Dollar Index (DXY) has shown no signs of letting up its recent gains after the stellar Non-Farm Payroll (NFP) report last week Friday. Since then, minimal U.S. economic data has contributed to the success of the rally but rather market repricing of U.S. interest rates going froward. The implied Fed funds futures shown in the table below now shows terminal rates for 2023…
EURUSD down for the 4th day in a rowThe EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is…
Share: Besides Gold, the prices of other precious metals also came under pressure in the wake of the robust US labour market data. Economists at Commerzbank update their forecasts for Palladium, Silver and Platinum. Forecasts for Silver and Platinum unchanged “We are downwardly revising our Palladium forecast and now envisage a price of $1,700 by mid-year and of $1,900 by year’s end (previously: $2,000 and $2,100 respectively). “We are leaving our price forecasts for Silver and Platinum unchanged.” “Silver is likely to be priced at $23 by mid-year and $25 by year’s end.” “We expect Platinum to be…
US Dollar Rand (USD/ZAR) Price Outlook:Rand shrugs off Eskom woes and rising debt burden after 100 consecutive days of rolling blackouts (load shedding).USD faces uncertainty as geopolitical tensions rise.USD/ZAR price action faces pressure after brief retest of psychological resistance at 17.700. Recommended by Tammy Da Costa Get Your Free Top Trading Opportunities Forecast The South African Rand is trading near the key psychological resistance currently resting around 17.7000. With the January low holding at a level of 16.694, a rebound off 17.00 has supported USD/ZAR, pushing prices towards mid-December levels of 17.700.As USD/ZAR approaches the 2016 high (at 17.8187), both…
Syneos, Haystack team up to use AI to identify patients for clinical trials Source link
GBP/USD PRICE, CHARTS and ANALYSIS: Recommended by Zain Vawda Get Your Free GBP Forecast GBP/USD FUNDAMENTAL BACKDROPCable gained some ground in the Asian session before the London open saw it pierce through the psychological 1.2000 handle. Friday’s US jobs report continues to provide the dollar index with support and in turn capping any attempt at a recovery for GBPUSD. Market participants are pricing in a higher Fed Funds peak rate for 2023, in contrast to the Bank of England (BoE) with Governor Bailey stating that inflation in the UK is expected to continue its descent. This has given markets belief…