Author: FX
USDCAD, Interest Rates and FOMC Rate Decision Talking Points:The Market Perspective: USDCAD Bullish Above 1.3200The top event risk for Wednesday, and arguably the entire week, is the FOMC rate decision. Though, as much volatility as it can generate, trend development will be troubledThere is plenty of additional US event risk after the Fed and a number of currency crosses (eg EURUSD) have event risk from peers; but USDCAD is far less encumbered Recommended by John Kicklighter Trading Forex News: The Strategy We are moving head-long into a critical fundamental event that can generate serious volatility across the financial system and…
Inflation in the United States continues to fall, as the ECI showed, sparking talks about a Fed pivot. Canada’s economy stalled and grew at a 0.1% pace in December. USD/CAD Price Analysis: It would likely extend its downtrend and test the 200-day EMA. The USD/CAD retreated on Tuesday, as the US Dollar (USD), extended its losses following a report by the US Department of Labor (DoL), which showed that employment costs cooled down. At the same time, Canada’s economy grew as expected. Therefore, the USD/CAD is trading at 1.3319 after hitting a daily high of 1.3471. US data weighed on…
YinYang/iStock via Getty Images The Health and Human Services Department (HHS) has announced a special Marketplace enrollment period for millions of Americans at risk of losing Medicaid this year when pandemic-era coverage protections end in April. During the temporary enrollment period set for March 31, 2023 – July 31, 2024, people who lose Medicaid coverage can apply for Obamacare outside the standard enrollment period at healthcare.gov. At the start of the pandemic, Congress enacted measures requiring Medicaid programs to keep people continuously enrolled during the COVID-19 public health emergency (PHE) in exchange for enhanced federal funding. The lawmakers enacted a…
© Reuters. FILE PHOTO: The GM logo in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook By Paul Lienert and Joseph White DETROIT (Reuters) -General Motors Co shares jumped early on Tuesday after it reported higher net income for the fourth quarter, forecast stronger-than-expected earnings for 2023 and said it would cut $2 billion in costs. The automaker, the top in the United States by sales, forecast that it could hold its pre-tax margins steady between 8% and 10% through 2025, despite a price war that Tesla (NASDAQ:) Inc has triggered in the electric vehicle segment. GM shares opened up…
The market is going to be doing some soul searching this week about how likely it is the Fed will have to raise rates above 5% and how long they will stay there. Jerome Powell will have a lot to say about that but it all comes back to the data.Today’s US wages numbers were more-benign than feared with wage growth slowing to 1.0% q/q from 1.3% previously. The expectations component of the consumer confidence report The result has been a 0.5% rally in the S&P 500 and a turnaround in risk FX like AUD/USD. Source link
CB Consumer Confidence Key Points:CB Consumer Confidence decreases to 107.1 (vs est 109) – higher interest rates weigh on the business confidence and the short-term employment outlook.FOMC rate decision remains key for the near-term economic outlook – can the Fed avoid panic and ease recession fears? Recommended by Tammy Da Costa Get Your Free USD Forecast CB Consumer Confidence Decreases – Higher Interest Rates Reduce Short-Term Growth ProspectsThe Conference Board Consumer Confidence Index® has decreased for the month of January to 107.1, down from the December reading of 108.3.DailyFX Economic CalendarOn the last Tuesday of every month, the CB confidence…
Siemens SE is a German multinational conglomerate company and by revenue the largest industrial manufacturing enterprise in Europe. Company’s principal business divisions are Industry, Energy, Healthcare, Infrastructure & Cities. Founded in 1847 and headquartered in Munich, Germany, the company employs approx. 385’ooo people worldwide. Siemens is a part of both DAX40 and of SX5E indices. One can note that the economic success of the company is truly accompanied by a strong performance of the Siemens stock. In the initial article from February 2021, we have forecasted a rally to the new highs. We were right. The price has printed the new…
It is a very busy week of central bank actions, data, and earnings. Commanding most of the attention, however, will be monetary policy decisions from the FOMC, ECB, and BoE. Rate hikes are universally expected, but that is where the similarities end. Differences in growth and inflation will lead to differing outcomes and guidance. The Fed is widely expected to hike by 25 bps and the ECB by 50 bps. The BoE is seen tightening 50 bps, but there is increased risk for 25 bps. Find out more for BoE here. Concurrently, there is a heavy data slate that will…
Cadiz prices $40.32M registered direct offering Source link
EUR/USD ANALYSIS & TALKING POINTSEZ economic data unable to deter USD backing.All eyes on the Fed tomorrow with emphasis in post-announcement conference.Can current USD strength last against the EUR? Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro received several key economic data prints (see economic calendar below) from various parts of the eurozone today but did not necessarily reflect the data via the EUR/USD currency pair. Although French inflation missed estimates, the actual figure of 6% still improves on the December figure while the German labor market maintained its robust state. It would be expected…