Author: FX

Oil (WTI) News and AnalysisWTI on track for fourth straight day of declines on demand concerns, stronger USDWTI attempts to fill in the OPEC-inspired gap with the 50 SMA in sightThe 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 Find out what our analysts foresee for oil in Q2 WTI on Track for Forth Straight Day of Declines on Demand Concerns, Stronger USDOil continues to selloff after posting the monthly high last week of around $83.53 when looking at the continuous…

This forex pair is still hovering above its short-term rising trend line, and it looks like the eurozone PMIs might spur a move higher. Analysts are expecting to see slight improvements in the manufacturing sectors of both Germany and France, so these might be enough to keep ECB tightening hopes in play. In contrast, the U.S. economy is slated to report dips in both manufacturing and services activity for April. If that’s the case, just how high can EUR/USD go from here? EUR/USD 1-hour Forex Chart by TradingView The pair has formed higher lows on its latest test of the…

Warning: TMSNY is at high risk of cutting its dividend Source link

GOLD ANALYSIS & TALKING POINTSFed Beige Book report follow through backing gold.Jobless claims data and Fed speakers in focus today.Bearish divergence building momentum, XAU/USD below $2000. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROPGold prices are stronger this Thursday morning on the back of a weaker US dollar. Despite hawkish commentary from the Fed’s Williams who cited the tough task lying ahead to bring down inflation as well as the robust labor market in the US, markets reacted to the Fed Beige Book. The Fed Beige Book is a report produced 8 times per year and…

The USD continued to rotate (USDIndex at 101.65) hotter UK inflation data added to more global concerns that core price pressures remain too elevated & the Beige Book did not provide the evidence that credit conditions are tightening significantly enough to take the Fed off the hook for more action. FOMC, ECB & BOE all set to hike in May, divergence to follow in the summer? Stocks were flat overall again, with some strong Earnings (Abbott Labs +7.82% IBM, TSMC & WAL +24.12%) some mixed (Morgan Stanley) and some missed (#TSLA, -6% after hours). Asian markets are subdued as PBOC…

SAP SE, a leading German multinational software corporation that provides enterprise software to manage business operations and customer relations is set to release its first-quarter 2023 financial results on April 21. As the market anticipates the report, analysts have projected a modest year-over-year increase in earnings per share, primarily driven by strong demand for the company’s products and services, particularly in the cloud business. According to the Zacks Consensus Estimate, SAP is expected to report revenues of $7.97 billion, a 0.4% increase from the year-ago quarter. Meanwhile, earnings are projected to be $1.21 per share, representing an 8% YoY increase.…

German DAX futures flatUK FTSE futures flatThere’s not much change as equities keep more tentative after some back and forth action in Wall Street yesterday. US futures are holding slightly lower though, mostly led by a drop in tech sentiment. S&P 500 futures are down 0.3%, Nasdaq futures down 0.5%, while Dow futures are down just 0.1% for the moment. Source link

Share: In a quarterly report analyzing the regional economies of Japan, the Bank of Japan (BoJ) kept up its assessment of seven of the country’s nine economic regions. Additional takeaways “BoJ revises down assessment for one of Japan’s nine regions.” “BoJ revises up assessment for one of Japan’s nine regions.“ “Four regions said their economies are picking up or picking up moderately.” Market reaction At the time of writing, USD/JPY is keeping its range at around 134.80, having faced rejection at 135.00. The pair is adding 0.09% on the day. Source link

Yooo did Bitcoin (BTC/USD) just drop below the $30,000 mark again? As you can see, BTC is now trading closer to the $29,000 levels after briefly flirting with (and getting rejected at) the $31,000 zone. This comes after the dollar regained some of its losses from the previous week while other non-BTC “risk” assets found buyers. Luckily, it looks like there’s enough demand around BTC/USD’s current prices. Bitcoin (BTC/USD) 4-hour Chart by TradingView And why not? Note that $29,000 lines up with a key resistance zone from late March. This time around, $29,000 is also around a descending channel support…

#Alphabet-A Tech giant earnings season is fast approaching, and some of the largest publicly traded companies are reporting their latest quarterly results. Wall Street anticipates this will be a tough quarter for Big Tech earnings. Microsoft is the only member expected to report EPS growth, after experiencing declines in the last two quarters, while the rest of the group are expected to report another quarter of declines. Alphabet and Microsoft will report earnings on April 25 after the market closes, Meta on April 26, Amazon on April 27 and Apple on May 4. Wall Street anticipates a quarter of modest…