Author: FX

Share: AUD/USD prints mild gains to pare the biggest daily loss in a month, snaps three-day losing streak. Rejection of monthly bullish channel keeps Aussie bears hopeful unless the quote stays below 0.6890. Multiple technical levels, bullish MACD signals and upbeat RSI conditions challenge bears. AUD/USD bulls struggle to regain the 0.6800 round figure while printing mild gains around intraday high of 0.6799 heading into Wednesday’s European session. In doing so, the Aussie pair prints the first daily gains in four while bouncing off the 200-day Exponential Moving Average (EMA). However, the previous day’s clean rejection of the…

We’ve got a couple of top-tier U.K. events lined up this week! I’m counting on big moves from pound pairs, and I’ve got this GBP/CAD break-and-retest play on my radar. You see, the pair already busted through its descending trend line to indicate that a reversal from the selloff is in the works. GBP/CAD 4-hour Forex Chart by TV A quick correction to nearby support areas might be needed before more pound bulls charge, though. The handy-dandy Fib tool shows the potential levels where buyers might be waiting to jump in. The 38.2% retracement level is already close by at…

© Reuters. FILE PHOTO: A Tesla logo on a Model S is photographed inside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson/File Photo By David Shepardson WASHINGTON (Reuters) -Tesla urged the Biden administration to finalize significantly stricter heavy-duty emissions limits than proposed in April, arguing larger vehicles were being electrified much faster than envisioned and would lead to bigger pollution cuts. The electric vehicle (EV) manufacturer said in comments made public on Tuesday that the Environmental Protection Agency’s (EPA) proposal did not go far enough, should be as stringent as California’s truck emissions regulations and…

ABEMOS Generac (NYSE:GNRC) rose the most in seven weeks Tuesday as the operator of Texas’s power grid asked customers to conserve electricity to prevent blackouts. The state is facing greater stress on its electrical system as a summer heat wave has people turning up their air conditioning to keep cool. Generac (GNRC), which makes backup generators and solar equipment, rose 7.9%. The Electric Reliability Council of Texas issued a voluntary conservation notice because of “extreme temperatures and forecasted record demand.” Power prices for Tuesday surpassed $2,500 a megawatt hour in the state’s day-ahead market, Reuters reported. The reliability council operates…

This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Goldman Sachs believes that markets are somewhat underestimating the significance of the inflation differential for the Swiss Franc (CHF), suggesting the selling of 25 Delta 3-month EUR/CHF calls. The recent strength of the Euro (EUR) offers an attractive entry point, and signs of more persistent inflation should mean that the ‘fair value’ of EUR/CHF continues to trend lower, serving as a…

Share: What you need to know on Wednesday, June 21: The US Dollar kept grinding higher on Tuesday as the market mood soured on fears that Chinese economic growth has lost momentum. The focus now shifts to Federal Reserve Chairman Jerome Powell’s testimony before Congress. The People’s Bank of China (PBoC) cut two key lending rates for the first time in almost a year amid concerns about slowing growth. The central bank cut the one-year loan prime rate by 10 basis points from 3.65% to 3.55% and the five-year loan prime rate by 10 basis points from 4.3%…

BITCOIN FORECASTBitcoin prices extend recovery following news that EDX markets has launchedWith sentiment on the mend, BTC/USD has recaptured its 50-day simple moving averageThis article looks at bitcoin’s key technical levels to watch in the coming trading sessions Recommended by Diego Colman Get Your Free Bitcoin Forecast Most Read: Gold Prices Slump on US Data ahead of Powell’s Testimony, Key Support in PerilSoon after reaching multi-month highs above $31,000 in mid-April, bitcoin sold off aggressively, falling briefly below $25,000 late last week. The downward correction, however, appears to show tentative signs of having fully run its course, with sentiment stabilizing…

The BOE decision is coming up this week! Will they hike interest rates again as expected? Here’s what the U.K. central bank might have up its sleeve and how pound pairs might react. Event in Focus: Bank of England Monetary Policy Statement When Will it Be Released: June 22, Thursday: 11:00 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: BOE to hike interest rates by 0.25% from 4.50% to 4.75% No changes to asset purchases expected MPC meeting minutes to show 7-2 vote in favor of tightening Pound traders are counting…

Justin Sullivan Toyota Motor (NYSE:TM) captured a lot of attention last week by announcing plans to launch commercial solid-state batteries as soon as 2027 and unveiling some manufacturing innovations. Notably, Toyota (TM) execs also disclosed the company is targeting battery-powered vehicles with range of about 620 miles arriving in 2026. The Japanese carmaker set a sales target of 1.5M all-electric vehicles per year by 2026 and 3.5M all-electric vehicles annually by 2030. Despite the forward motion with all-electric vehicles, the new commitment from Toyota (TM) did not impress ARK Research. ARK analyst Sam Korus said Toyota’s (TM) appointment of Koji…

© Reuters. FILE PHOTO: The port bow railing of the Titanic lies in 12,600 feet of water about 400 miles east of Nova Scotia as photographed earlier this month as part of a joint scientific and recovery expedition sponsored by the Discovery Channel and RMS Titantic. By Joseph Ax and Kanishka Singh (Reuters) – U.S. and Canadian ships and planes searched on Monday for a submersible vessel that went missing more than a day earlier off the coast of southeastern Canada while taking tourists to explore the wreckage of the Titanic, officials said. The U.S. Coast Guard said there was…