Author: FX
The Newsquawk US Market Open: Sentiment soured despite a French inflation induced move higher, US ECI dueKey Points:European bourses are lower across the board, Euro Stoxx 50 -0.6%, as the upside after France’s CPI fizzled out and reverted back to softer APAC performance.Stateside, futures are similarly pressured and have been in-fitting with European peers throughout the session ahead of key Employment Cost data, ES -0.5%.USD is on the front foot amid the downturn in risk sentiment, EUR pressured post-French CPI while Antipodeans lag despite strong Chinese PMIsEGBs are currently mixed/flat, despite pronounced action throughout the session in the wake of…
Economists at Rabobank continue to look for the EUR/GBP pair to edge towards 0.90 around the middle of the year. There may be some near-term downside potential for EUR/GBP “If Lagarde’s guidance this week disappoints the hawks, there may be some near-term downside potential for EUR/GBP.” “We would view any move lower as an opportunity to sell GBP and maintain our forecast of a move to EUR/GBP 0.90 on a six-month view.” See: EUR/GBP may hold below 0.8800 until “super Thursday” – ING Source link
Plug Power and Johnson Matthey enter strategic partnership to accelerate the hydrogen economy Source link
New Zealand is about to release its quarterly jobs report soon! Can this spur a big breakout on NZD/CAD’s triangle pattern? Before moving on, ICYMI, yesterday’s watchlist looked at the correction levels on EUR/AUD ahead of China’s PMI releases. Be sure to check out if it’s still a valid play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: Japanese unemployment rate held steady at 2.5% in December Japan’s Dec preliminary industrial production dipped 0.1% m/m vs. projected 1.1% slump Japanese Dec retail sales accelerated from 2.5% to 3.8% y/y…
2/2 © Reuters. FILE PHOTO: Czech presidential candidate Petr Pavel speaks to the media at his headquarters, during the country’s presidential election, in Prague, Czech Republic January 28, 2023. REUTERS/David W Cerny 2/2 BEIJING (Reuters) -China condemned on Tuesday a phone call between Czech President-elect Petr Pavel and Taiwan President Tsai Ing-Wen, saying he ignored Beijing’s repeated attempts at dissuasion. Monday’s call was a diplomatic breakthrough for the China-claimed island, which has no formal relations with Prague. “Czech President-elect Pavel ignored China’s repeated attempts to dissuade him and our repeated representations,” Chinese foreign ministry spokesperson Mao Ning Mao told reporters.…
GBP/USD Price, Charts and Analysis: Recommended by Zain Vawda Get Your Free GBP Forecast Most Read: US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD, USD/JPYGBP/USD FUNDAMENTAL BACKDROPCable continued its decline in the early hours of the Asian session to drop below the 1.2350 level. GBP/USD had a modest bounce to trade just above the 1.2350 level heading into the European open which saw dollar bulls return pushing GBPUSD toward the 1.23000 handle.The upside rally on GBPUSD appears to have run out of steam, however with key risk events ahead the move could be due to repositioning by market participants ahead…
Reuters ReportNorway’s $1.3 trillion wealth fund, one of the world’s largest investors, on Tuesday reported a record loss of 1.64 trillion crowns ($164.4 billion) for 2022.The previous largest loss was 633 billion crowns in 2008.The fund’s return on investment stood at minus 14.1% for the year, which was 0.88 percentage point better than the return on the fund’s benchmark index.”The market was impacted by war in Europe, high inflation, and rising interest rates. This negatively impacted both the equity market and bond market at the same time, which is very unusual,” Chief Executive Nicolai Tangen said in a statement.Grim, but…
Global Stocks extend lower, USD steady and Yields picked up across the curve with the short end underperforming in a bear flattener given the Fed views. The curve flattened to -72 bps before unwinding to -70 bps. The looming FOMC decision on Wednesday and expectations for a hawkish trimming in the rate path left bonds and stocks heavy with buyers sidelined. Concerns over upcoming earnings from Apple, Amazon, Alphabet, and Meta also weighed. The US100 slumped -1.96%. European bonds and stocks were mostly lower too ahead of ECB and BoE rate decisions. Elsewhere: China: domestic…
Here is what you need to know on Tuesday, January 31: The US Dollar holds steady above 102.00 early Tuesday after having closed the last three trading days in the positive territory. Following the risk-off action on Monday, markets remain cautious with US stock index futures trading modestly lower on the day. Eurostat will release the fourth-quarter Gross Domestic Product (GDP) for the Eurozone. Later in the day, November GDP data from Canada, US CB Consumer Confidence Index and the US November Housing Price Index figures will be featured in the US economic docket. Earlier in the day, the International…
Investors are all eyes and ears on quarterly earnings reports from tech companies this week! Will these offer opportunities to catch the uptrend on the Nasdaq index? Here are the nearby correction levels I’m watching. Nasdaq 100 Index (NAS100) 1-hour Chart by TradingView Heads up, U.S. equity traders! This stock index is already testing the top of its ascending channel on the hourly time frame, which means that bulls might be in profit-taking mode. Besides, it’s the end of the month and we’ve got big-time earnings reports to watch out for. Apple, Meta, and Alphabet are all scheduled to release…