Author: FX

© Reuters. A makeshift memorial for Tyre Nichols, a young Black man who was killed during a traffic stop by Memphis police officers, is displayed at Tobey Park Skate Park in Memphis, Tennessee, U.S., January 27, 2023. REUTERS/Alyssa Pointer (Reuters) – At least some of the officers involved in the traffic stop that authorities say resulted in the beating and death of Tyre Nichols were part of a specialized Memphis policing unit called SCORPION. Under pressure over rising violent crime, Memphis in October 2021 created SCORPION, which stands for Street Crimes Operation to Restore Peace in our Neighborhoods. Its mandate…

The US core PCE, the Fed’s preferred gauge for inflation, edges down, sparking speculations for a Fed pivot. Consumer Sentiment improved, while inflation expectations ticked lower. EUR/USD Price Analysis: Upward biased, but short-term neutral, ahead of Fed and ECB’s decisions. The EUR/USD got rejected from the 1.0900 psychological barrier for two consecutive days and on Friday slipped to the 1.0860 region after data from the United States (US) cemented the case for a 25 bps rate hike by the Fed. At the time of writing, the EUR/USD is trading at 1.0866. Soft US core PCE increased the likelihood of the…

Markets:Gold down $1 to $1928US 10-year yields up 2.5 bps to 3.51%WTI crude oil down $1.63 to $79.37S&P 500 up 0.25% to 4070JPY leads, EUR lagsThe week is winding down and FX is largely flat on the day. There was some USD buying into the London fix but it reversed in the hour following and then the market coasted sideways to the finish with the market turning its gaze towards next week’s big central bank decisions (Fed, ECB and BOE).EUR/USD touched a low of 1.0836 into the fix but bounced 30 pips from there to finish the week largely flat.…

US Dollar Talking Points:The US Dollar printed a doji on the weekly bar, holding right around the 102 level that’s the 50% mark of the 2021-2022 major move.Fundamentals are driving the market next week as we get the FOMC on Wednesday followed by the Bank of England and the European Central Bank on Thursday, and NFP on Friday.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section. Recommended by James Stanley Get Your Free USD Forecast The US Dollar was flat for this…

It was a relatively quiet week in the financial markets with major financial hubs out for the Lunar New Year holiday, and no major surprises from a much lighter economic calendar this week. On Monday, ECB President Lagarde said that rates will “have to rise significantly at a steady pace” and “stay at those levels for as long as necessary” Lunar New Year holidays in closed major financial hubs across Asia, including China, Hong Kong, Singapore through Thursday Bank of Japan Core CPI in December: 3.1% y/y vs. 2.9% y/y While Flash PMI survey data released on Tuesday showed likely…

Nasdaq dailyClosing changes in North American equities:S&P 500 +0.5%Nasdaq +1.3%Russell 2000 +0.8%Toronto TSX Comp +0.1%On the week:S&P 500 +2.7%Nasdaq +4.6%Russell 2000 +2.7%Toronto TSX Comp +1.1%The story of the week is the revival of the high flyers of 2021 with Tesla leading the way in a back-to-back 11% rally. With today’s rally, the Nasdaq blasted above the Nov/Dec highs. Source link

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

We saw the Bank of Canada signal a shift to the sidelines this week but that’s not likely to be the case with the trio of major central banks due to weigh in next week.First up is the FOMC decision on Wednesday and the market isn’t pricing in any drama around Powell and the Fed. They’ve strongly signaled a slowdown in the pace of rate hikes and that has the market pricing in a 97% chance of 25 bps and only the slightest tail risk of 50 bps. Given the enthusiasm in markets, I’d put the odds of 50 bps…

The lesson of the year so far is that markets will do what people least expect. The strong consensus coming into the year was that rate and recession fears would keep stocks cheap before an H2 rally. Well, the market didn’t wait and now the S&P 500 is poised to close above some key levels, including the long-term downtrend. Source link

Catalyst watch: Eyes on tech earnings, Chinese EV stocks, Peloton and Church & Dwight Source link