Author: FX
Share: USD/JPY bulls are waiting in the flanks as price corrects. USD/JPY remains on the front side of the bullish trend. As per the prior analysis, USD/JPY Price Analysis: Bulls stay front side of trend and above the 134 figure but correction eyed, the correction is underway. The following illustrates the prospects of a bullish continuation following a move into the in-the-money longs: USD/JPY prior analysis The bulls had picked up a discount and the market has subsequently rallied, reaching very close to a -272% Fibonacci retracement of the correction´s range: With the bulls still in control, it was stated that there are…
We’re getting a parade of April business surveys from the Eurozone on Friday! What are markets expecting and how can the reports affect EUR? Here’s a short guide for ya: Event in Focus: Euro Area Flash Manufacturing & Services PMIs A purchasing managers index (PMI) comes from a survey conducted among a few hundred purchasing managers in major business sectors, such as the manufacturing and services industries. An index reading of 50.0 and above hints at optimism and industry expansion, while a reading of 49.9 and below denotes pessimism and possible industry contraction. While survey companies like S&P have manufacturing…
GOLD PRICES FORECASTGold prices regain ground on U.S. dollar weakness following a subdued performance on MondayXAU/USD rebounds after encountering technical support at the lower bound of an ascending channelThis article looks at key tech levels to watch in the near term Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Nasdaq 100 Update – US Stocks Gear up for Tech Earnings: Netflix, TeslaAfter a subdued performance at the start of the week, gold prices (XAU/USD) rebounded on Tuesday, supported by cautious sentiment and, more importantly, a weaker U.S. dollar, a situation that increases demand for the precious metal…
Fed’s Bullard in a Reuters interview says:US recession predictions ignore strength of labor marketPandemic savings still to be usedNot much clear progress on inflation means interest rate needed to continue to riseStill sees adequately restrictive policy rate at 5.5% – 5.75% range, bias to hold for longer until inflation containedRisk of bank stress causing broad problems seems to have diminishedFed should avoid extensive forward guidance and next meeting, keep options openFed Bullard and Feds Waller are both lobbying for multiple rate hikes still to come. Source link
Share: Johnson & Johnson beat Q1 consensus on earnings, revenue. JNJ pops 2% on news, moving above $166 resistance point. Sales revenue rises 5.6% YoY. Johnson & Johnson raises full-year guidance. Johnson & Johnson (JNJ) stock rose 2% in Tuesday’s premarket after the healthcare and consumer goods conglomerate reported first quarter adjusted earnings per share (EPS) of $2.68, 18 cents above Wall Street analysts’ projections. Revenue of $24.7 billion was also $1.1 billion above consensus. JNJ stock broke above its $166 resistance barrier. Johnson & Johnson stock news: 2023 guidance raised Despite poor US retail spending data from…
Swing highs and swing lows are key areas where market reactions may occur. It could either be a reversal or a strong momentum breakout. This is because swing highs and swing lows can also be considered as support and resistance zones. The strategy discussed below shows a method in which traders can trade the second assumption around a swing high or swing low level, which is a momentum breakout. Swing Highs and Swing Lows as Breakout Zones Although price may seem to move in an unstructured manner, technical traders who observe price action closely would notice that the market oscillates…
POUND STERLING ANALYSIS & TALKING POINTSUK jobs report reiterates tight labor market conditions.Bank of England under pressure to hike once more in May.All eyes shift to UK inflation data tomorrow.GBP/USD hesitancy is evident around the 1.24 level. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPThe British pound has managed to creep higher this morning after jobs data beat estimates on multiple metrics. While employment change caught the headlines, average earnings both including and excluding bonuses could heighten inflationary pressures and prompt the Bank of England (BoE) to continue with it’s hiking cycle in their next meeting.…
The USD cooled from a 2-day rally despite strong Empire State Manufacturing Index, Stocks closed flat and Yields (10yr 3.591%) held onto gains. Overnight strong Chinese data (GDP hit 4.5% in Q1 vs 4.0% & 2.9%), Retail Sales were 10.6% from 3.5% and Unemployment fell to 5.3% from 5.6%. UK Jobs beat (28.2k new jobs vs -11.2k last time, Earnings continue to be very hot at 5.9% vs 5.7%, Unemployment was 1 tick higher at 3.8% too adding to the bid on Sterling and increasing chatter of stagflation in the UK and pressure on the BOE to act again. Asian markets are also…
This Loonie pair is testing the very top of its range just as Canada is gearing up to print its latest CPI report. Now this inflation figure could be crucial to determining whether or not the BOC could keep rates on hold for longer. So will we see a bounce or break for CAD/JPY? CAD/JPY 4-hour Forex Chart by TradingView Thanks mostly to rising crude oil prices and improved risk sentiment, CAD/JPY has been on a tear for the past few weeks. In fact, the Loonie’s rally was enough to take the pair up to the top of its range…
Prior 98k; revised to 39kFebruary ILO unemployment rate 3.8% vs 3.7% expectedPrior 3.7%February employment change 169k vs 50k expectedPrior 65kFebruary average weekly earnings +5.9% vs +5.1% 3m/y expectedPrior +5.7%; revised to +5.9%February average weekly earnings (ex bonus) +6.6% vs +6.2% 3m/y expectedPrior +6.5%; revised to +6.6%The slight tick higher in the jobless rate sees it move to its highest since June last year but still keeping very much lower from a historical perspective. Payrolls are still continuing to print positively, although the pace is slowing down. However, the standout in this report is arguably the wage numbers, which continue to…