Author: FX

Justin Sullivan/Getty Images News Ford Motor Company (NYSE:F) will reorganize operations for its factory in Oakville, Ontario, Canada to produce EVs, according to a statement on Tuesday. The Dearborn-based automaker announced a C$1.8B ($1.33B) investment in order to transform its Ontario plant into a “hub of electric vehicle manufacturing” and battery pack assembly. The company plans to produce 2M EVs per annum by the end of 2026, aided significantly by the transformed factory. “Canada and the Oakville complex will play a vital role in our Ford+ transformation. It will be a modern, super-efficient, vertically integrated site for battery and vehicle…

USD/JPY PRICES, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free JPY Forecast USD/JPY FUNDAMENTAL BACKDROPThe Yen looks set to face some immediate selling pressure following the inauguration of Kazuo Ueda as the new Bank of Japan Governor. Murmurs have continued to persist regarding a potential policy shift by the incoming Governor, however his remarks at his opening press conference have put such hopes on the back burner for the immediate future.The BoJ’s new Governor reiterated his commitment to stick to easing monetary policy for now as inflation has not reached the BoJ target of 2% or shown any…

© Reuters. FILE PHOTO: A woman walks past a branch of Mitsubishi UFJ Financial Group’s bank of Tokyo-Mitsubishi UFJ (MUFG) in Tokyo, Japan, May 16, 2016. REUTERS/Thomas Peter By David Dolan and Simon Jessop TOKYO (Reuters) – Japan’s Mitsubishi UFJ (NYSE:) Financial Group on Tuesday laid out emissions-cutting targets for lending to the real estate, steel and shipping sectors, and said emissions from its oil and gas business had fallen as loans were repaid. As Japan’s top lender and a significant funder of carbon-intensive industries, MUFG is increasingly in activists’ crosshairs and is set to face a shareholder vote on…

Market pictureThe total capitalisation of the crypto market rose 4.5% to $1.24 trillion, the highest since June last year and a colourful end to several days of consolidation. Bitcoin was the main driver, although BNB, Cardano, Solana and Litecoin also outperformed the market, rising between 5.5% and 11%.Bitcoin continued its storm of highs early on Tuesday, peaking at $30.4K and holding above $30K after a minor correction. This jump in a thin market marked the end of a consolidation triangle and a corrective pullback after a March rally. The target for the first pattern is the $40K area, while the…

Trading Leveraged Products is risky US #stockmarkets closed mixed – Industrials higher – Tech lower (#Samsung said they will cut chip production – lifting Western Digital & Micron +8%). USD continued to recover, (USDIndex topped at 102.50), Treasuries slipped again (10 yr 3.41%) and #BTC breached $30k for the first time in 10mths. In the Asian session stocks are higher (ASX +1.3% after Easter break & Nikkei +1.4% after a Dovish outlook from new BOJ Governor Ueda & Buffet said he was planning to add to his Japanese investments. AUD is outperforming. Overnight Data Chinese…

Heads up, gold bulls! If you think the precious metal’s uptrend is about to resume soon, better keep your eyes locked on this resistance-turned-support area. Do you think this ascending channel will stay intact? Gold (XAU/USD) 1-hour Chart by TradingView Don’t look now, but gold is inching closer to the bottom of its channel! This happens to coincide with a former resistance zone that might hold as support around the $1,980 level. But what are technical indicators saying? So far, it’s looking mixed, as the moving averages are pointing to a continuation of the uptrend while Stochastic is reflecting exhaustion…

Share: Silver remains confined in a narrow trading band for the fourth straight day on Tuesday. The technical setup favours bullish traders and supports prospects for additional gains. Any meaningful slide is likely to find decent support near the $24.40-30 horizontal zone. Silver extends its sideways consolidative price move for the fourth straight day on Tuesday and holds steady around the $25.00 psychological mark through the early European session. The Relative Strength Index (RIS) on the daily chart is still flashing overbought conditions and holding back bullish traders from placing fresh bets around the XAG/USD. That said, last…

Wells Fargo & Co. (WFC.s) is a financial services company with operations around the world and the third best bank in the US by asset quality and capitalization of $148.2B. The bank is expected to report earnings for the fiscal first quarter ending March 2023 on Friday, April 14 before the market opens.   Reported and expected EPS for WFC Source: Nasdaq Zacks positions Wells Fargo Rank #3 (Hold) in the Fund 22% position #197/250 of the Banking industry – Regional Majors. EPS of $1.15 is expected for this report (as for Nasdaq) with an  ESP of 6.32% although the most…

JHVEPhoto/iStock Editorial via Getty Images Rogers Communications (NYSE:RCI) has entered a deal to buy the Canadian operations of BAI Communications, a move to bring its full 5G wireless services to Toronto’s subway system. BAI Canada has held exclusive rights to build the wireless network for the Toronto Transit Commission since 2012. Now Rogers plans to acquire the operations with the transaction expected to close in the next two weeks. That will kick off a plan to do extensive fiber network and radio equipment upgrades to modernize the TTC network, Rogers said. The plans include access to 911 service for all…

Trend reversal entry strategies can be excellent tools that may help traders open trades more precisely on the lower timeframes. In fact, most multi timeframe traders use trend reversal strategies on a drilled down timeframe in order to find their optimal trade entries. The strategy discussed below is a trend reversal strategy that uses the Higher Highs and Lower Lows Stochastic Indicator and moving average crossovers, which can be used as a trade entry setup. Higher Highs and Lower Lows Stochastic Indicator The Higher Highs and Lower Lows Stochastic (HHLLS) Indicator is a trend following technical indicator which is based…