Author: FX
POUND STERLING ANALYSIS & TALKING POINTSUK inflation beats forecasts but continues to trend lower.Bank of England 25bps hike in May an almost certainty.GBP/USD yet to show any significant move post-inflation. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPUK’s Chancellor Hunt: “The CPI figures reaffirm exactly why we must continue with our efforts to drive down inflation.”The British pound is marginally weaker against the USD this morning despite UK inflation (see economic calendar below) surprised to the upside. Hawkish commentary from the Fed’s Bostic and Bullard seem to be carrying over from the US trading session but…
© Reuters. A sign is pictured in front of the Canada Revenue Agency (CRA) national headquarters in Ottawa, Ontario, Canada March 13, 2017. REUTERS/Chris Wattie By Ismail Shakil OTTAWA (Reuters) – More than 155,000 public sector workers in Canada began a strike on Wednesday after failing to reach a wage deal with the federal government by a Tuesday deadline, in action that will affect tax filings and passport services during peak demand. The Public Service Alliance of Canada (PSAC) union said contract negotiations would continue even as it called for its members working for the Treasury Board and Canada Revenue…
NZD/JPY is currently in consolidation mode inside an ascending triangle pattern. Will we see another bounce or a breakout soon? Better keep your eyes on these levels if you’re hoping to catch a big move! NZD/JPY 4-hour Forex Chart by TradingView This forex pair is currently testing the bottom of its triangle pattern, still deciding where to go next. Technical indicators seem to be pointing to a bounce, which might take price back up to the resistance just below the 84.00 major psychological mark. The 100 SMA is above the 200 SMA to reflect upside pressure, and this shorter-term moving…
Procter & Gamble is an American company which engages in the provision of branded consumer packaged goods, operating through segments namely Beauty, Grooming, Health Care, Fabric and Home Care, Baby, Feminine and Family Care. The company shall release its earnings result for the fiscal quarter ending March 2023 on 21st April (Friday), before market open. Fig.1: Reported Sales of P&G versus Analyst Forecast. Source： CNN Business Throughout the decade (2012-2022), the company recorded the lowest sales in 2017, which was $65.1B. However, its sales gradually recovered for the next five years, to $80B in 2022, up over 23%. The…
It was a very light session indeed for news and data, and we didn’t hear much from central banks either. An exception was the Hong Kong Monetary Authority (which serves as Hong Kong’s central bank). The HKMA intervened to support the HK dollar, which has fallen to the weak end of its permitted trading band (more on this info and what the band is in the relevant bullet point above). Major FX rates have traded in subdued ranges and there is not a lot of net change on the session to report. EUR/JPY and yen crosses generally are higher, but…
Watch out, silver bulls! Precious metals have been on the rise lately, but it looks like the rallies might be running out of steam. Is XAG/USD in for a selloff soon? Here are the levels to keep tabs on. Silver (XAG/USD) 1-hour Chart by TradingView Silver has been forming higher lows connected by an ascending trend line that’s been holding since late March, and price is currently testing this support zone. A bounce could take XAG/USD back up to the highs around $26.00, but a break lower could signal that a downtrend is underway. Now this lines up with an…
Share: USD/CHF is making efforts for recovery after defending the critical support of 0.8960. S&P500 futures have shown nominal losses in Asia amid anxiety over earnings data. Fed Bostic favored one more rate hike and then holding them above 5% for some time. The USD/CHF pair is eyeing a recovery after building a base around 0.8960 in the Asian session. The Swiss Franc asset has been defending the aforementioned support for the past two trading sessions. An attempt of recovery by the US Dollar Index (DXY) after correcting to near 101.65 has infused some strength in the Swiss Franc…
Gold, XAU/USD, Fed’s Bostic Speaks, IGCS – Briefing:Gold prices aimed higher on Tuesday as the US Dollar fellBearish Engulfing follow-through remains a risk for goldIGCS shows traders decreased upside bets, a bullish sign? Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Gold prices gained slightly over the past 24 hours after the worst 2-day loss since early February. The anti-fiat yellow metal benefited from a cautiously weaker US Dollar as traders continued to fine-tune their expectations of where the Federal Reserve might take interest rates later this year.During Tuesday’s Wall Street trading session, Atlanta Fed President Raphael Bostic spoke…
5/5 © Reuters. Ukrainian servicemen return from heavy fighting amid Russia?s attack on Ukraine, close to Bakhmut, Ukraine, April 15, 2023. REUTERS/Kai Pfaffenbach 2/5 (Reuters) – Russian President Vladimir Putin met his commanders in two regions of Ukraine that Moscow claims to have annexed, while Russian forces stepped up artillery bombardments and air strikes on the devastated eastern Ukrainian city of Bakhmut. POLITICS/DIPLOMACY * The U.S. and its NATO allies must remain alert for signs Putin could use a tactical nuclear weapon in a “managed” escalation of his war in Ukraine, the second-highest U.S. diplomat said.* Brazilian President Luiz Inacio…
The USD is ending the day as the weakest of the major currencies in what was a ho-hum trading day. The GBP and the EUR area the strongest. The strongest to the weakest of the major currenciesLooking at the ranges (see table below) of some of the major currency pairs, the low to high trading ranges were all lower than the averages over the last 22 days (about a month of trading). If you discounted the GBPUSD, the ranges were all less than 79% of normal (the AUDUSD had a range that was 79% of the 22-day range). ON the…