Author: FX

Look out, crude oil traders! The commodity price is testing a pretty strong support zone. Will the trend resume or reverse from here? WTI Crude Oil (USOIL) 4-hour Chart by TradingView Crude oil has been cruising higher in a newly-formed rising channel, with its higher lows and higher highs since mid-December. Another test of support is taking place, and it looks like a bounce is possible. After all, technical indicators are hinting at the presence of bullish vibes. For one, the 100 SMA is still above the 200 SMA to indicate that the path of least resistance is to the…

Deutsche Bank reports Q4 results; reaffirms 2025 targets Source link

© Reuters. FILE PHOTO: The headquarters of Germany’s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) -Deutsche Bank’s fourth-quarter profit surged, exceeding expectations and contributing to a third consecutive year of profit that was helped by higher interest rates and buoyant trading but damped by a slump in dealmaking that has shaken the industry. Net profit attributable to shareholders was 1.803 billion euros ($1.99 billion) in the three months ending Dec. 31, figures published on Thursday showed. That compares with a profit of 145 million euros a year earlier, and it is better…

Gold, XAU/USD, Federal Reserve, Technical Analysis – Briefing:Gold prices rallied the most in almost 2 weeks after the FedMarkets continue to bet against Powell’s rate outlook visionXAU/USD now turns to non-farm payrolls data on Friday Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Gold prices gained 1.14 percent on Wednesday, the most in almost 2 weeks. The yellow metal is on course for a 7th consecutive week of gains. That would be the longest winning streak since the summer of 2020. All eyes were on the Federal Reserve over the past 24 hours, which delivered a 25 basis point…

Who’s up for trading trends? If you’re working on making trends your friends, then you shouldn’t miss what EUR/JPY and AUD/CHF are throwing at us! Check out their 4-hour charts: AUD/CHF 4-hour Forex Chart by TradingView First up is a nice and simple trend retracement. AUD/CHF is consolidating just above .6450, a level that had served as resistance in January. This time around, .6450 lines up with a trend line support, the 38.2% Fibonacci retracement of late January’s upswing, and the 100 SMA support on the 4-hour time frame. A long trade at current levels would mark a good trend…

In case you missed out on the Fed’s policy decision yesterday:Risk rallied in the aftermath, even more so after Powell opened the door on potential policy changes should inflation developments continue to act more favourably down the road. There are of course some caveats with Powell still saying that the Fed doesn’t share the same view as broader markets but with every meeting, he seems to be caving in more and more. And we will take that every day of the week.The decision also saw the dollar stumble across the board with key levels being threatened as stocks are also…

Euro, EUR/USD, US Dollar, GBP/USD, ECB, BoE, AUD/USD, Crude Oil – Talking PointsEuro support continues as US Dollar IS undermined by dovish perceptionsThe Fed hiked rates but Fed Chair Powell’s comments juiced up marketsIf the ECB hike as anticipated, will EUR/USD turn around? Recommended by Daniel McCarthy Get Your Free EUR Forecast The Euro and the British Pound extended gains seen immediately after Fed Chair Jerome Powell’s press conference. EUR/USD hit a 10-month high at 1.1033 today.The US Dollar sunk across the board as the market interpreted his remarks as a dovish tilt, despite the Federal Open Market Committee (FOMC)…

USD/INR has shown a rebound move as the USD Index has gauged an intermediate cushion around 100.50. Fresh signals of a decline in inflation projections indicate that the Fed might pause the rate hike cycle. The Indian government has trimmed its fiscal deficit target to 5.9% of GDP below the prior target of 6.4%. The USD/INR pair has rebounded after dropping to near 81.65 in the Asian session. The asset has found demand as the US Dollar Index (DXY) has shown signs of a pullback move after refreshing its nine-month low at 100.50.  The USD Index is still in an…

Bitcoin (BTC/USD) just broke above a consolidation near 23,000! In case you missed it, the Fed recently raised its interest rates by another 25 basis points to 4.75%. Members also warned that “ongoing rate rises” will still be appropriate especially since they expect inflation in the services sector to be stickier than inflation in goods prices. But rate increases are no fun for risk takers. They want to talk about Powell mentioning the start of the “disinflationary process.” Not to be confused with deflation, DISINFLATION is a slowdown in price increases. While it means that prices are still rising, disinflation…

LIMA (Reuters) -Peru’s Congress on Wednesday rejected a proposal to move elections forward to December 2023 despite nearly two months of protests that have left dozens dead following the ousting of former President Pedro Castillo. Lawmakers will continue debating a different proposal to hold early elections, a key demand of the protesters. But Peru’s Congress is deeply fragmented and reaching an agreement is tricky. The first proposal, which came from the right-wing Popular Force party, was rejected by 68 lawmakers, and voted in favor of by 54, with two abstentions. “I regret that Congress has not reached the necessary consensus…