Author: FX
PMIs from China are the focus of the data from the session. The manufacturing PMI is expected to have improved from December to show a slower pace of contraction in January. Worker absences due to illness were still an issue. Some calendars also list Chinese Industrial Profit data due at the same time. This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is…
Nasdaq 100, Liquidity, Volatility and FOMC Rate Decision Talking Points:The Market Perspective: Nasdaq 100 Bullish Above 12,300 and Bearish Below 11,500The Nasdaq 100 closed above the 200-day SMA for the first time in 203 trading days just this past week – ending the longest bear stretch in two decadesWith Monday trade, the NDX slipped right back below its 200-day SMA with little ceremony as markets balance risk before the Fed and other key events Recommended by John Kicklighter Get Your Free Equities Forecast As the saying goes ‘talk is cheap’. When it comes to markets, forging a technical event like…
Boarding1Now/iStock Editorial via Getty Images The Air Line Pilots Association announced on Monday that JetBlue Airways (NASDAQ:JBLU) pilots it represents have approved a two-year contract extension. The new contract entails a 21.5% pay hike over 18 months, as well as “other monetary improvements.” According to a press release, 75% of pilots participating in the vote moved to ratify the new, tentative agreement. “This contract extension provides unprecedented pay increases for JetBlue pilots across the board and recognizes the contributions of JetBlue pilots to the success of this airline, including the planned merger with Spirit Airlines,” said Capt. Chris Kenney, chair…
USD/JPY recovers some ground as traders brace for a busy US economic calendar. Buyers are eyeing a test of the 20-day EMA, as the RSI and RoC suggest the USD/JPY could print a leg-up in the near term. SUD/JPY Price Analysis: Remains downward biased, but it could aim higher. USD/JPY erases last Friday’s losses and reaches a new session high at 130.49, though slightly beneath the 20-day Exponential Moving Average (EMA), used as a barometer for short-term bias, which remains above the exchange rate. Therefore, the USD/JPY remains bearish despite trading at 130.49, above its opening price by 0.56%. USD/JPY…
5/5 © Reuters. FILE PHOTO: Pope Francis attends the Vespers prayer service to celebrate the conversion of St. Paul at St. Paul’s Basilica in Rome, Italy, January 25, 2023. REUTERS/Guglielmo Mangiapane 2/5 By Philip Pullella VATICAN CITY (Reuters) -Pope Francis starts a trip on Tuesday to two fragile African nations often forgotten by the world, where protracted conflicts have left millions of refugees and displaced people grappling with hunger. The Jan. 31-Feb 5 visit to Democratic Republic of Congo (DRC) and South Sudan, takes the 86-year-old pope to places where Catholics make up about half of the populations and where…
<p>The FOMC decision is coming up on Wednesday and <a href="https://www.forexlive.com/terms/g/goldman-sachs/" class="terms__main-term" id="79a0b72d-3ac9-4794-9478-58bd0d107622" target="_blank">Goldman Sachs</a> is sticking to its call:</p><p>"We continue to expect that a hike next week will be followed by two additional 25bp hikes in March and May, which would raise the target range for the funds rate to a peak of 5-5.25%."</p><p>Market pricing is for a peak of 4.93% in June and then coming down to 4.53% at year end.</p><p>I should note that it's usually immediately after rate decisions when we see banks change their calls, so keep an eye out on late Wednesday and Thursday because…
US Dollar up modestly amid higher US yields ahead of Fed and key data. Equity and crude oil prices trim losses during the American session. USD/CAD holds above 1.3300, risks remain tilted to the downside. The USD/CAD peaked during Monday’s American session at 1.3357, the highest level since Thursday. It is hovering around 1.3350, slightly away from the critical support area of 1.3300. The January low around 1.3300 is the key level to the downside: a break lower could open the doors to an extension toward to 1.3220 (November low) and the 200-day Simple Moving Average (SMA) today at 1.3204.…
Amgen lays off 300 employees, mostly on commercial team – Endpoints News Source link
MINA Price Breaks Above $0.80 as it Looks to Extend Recent Rally MINA (MINA) has seen a rather impressive surge in its price over the past few days, with the altcoin breaking through the crucial $0.80 resistance.The current resistance level is present at around $1, where the bulls will need to push past in order for further upside.Major support levels are at around $0.75 and $0.65, should Mina fall back down during the correction. MINA cryptocurrency has recorded an impressive gain of around 26% in the last 24 hours, topping the list of top-performing cryptocurrencies in the market. The altcoin…
USDCHF is testing a Topside trendlineThe USDCHF is participating in the ups and downs seen in a number of pairs this morning (see morning video here).Looking at the hourly chart, the price consolidated in a narrow up and down range in the Asian session. In the European session, there was a move to the downside where the price broke below both its 100 and 200 hour moving averages at 0.92087 and 0.91953 respectively (blue and green lines). However, the low price stalled near the upward sloping trendline connecting the January 18 low, to the low price last Thursday. That trendline…