Author: FX

Next Thursday, the Bank of England will announce its decision on monetary policy. Analysts at Danske Bank expected the central bank to hike the Bank Rate by 50 basis points. They see the cycle ending in March with a 25 bps hike. They argue that next week the dovish communication from the BoE should send the EUR/GBP cross higher during the day. EUR/GBP to move higher on BoE’s day “We expect the Bank of England (BoE) to hike the Bank Rate (Policy Rate) by 50bp on 2 February bringing it to 4.00%. Markets are currently pricing 45bp for the meeting…

Intel stock has lost nearly 11% in the premarket INTC dropped on account of Thursday’s evening’s quarterly release. Intel missed earnings expectations by half and revenue consensus by $500 million. CEO Pat Gelsinger said current quarter’s revenue would be $3 billion below expectations. Well, that did not go as planned. Intel (INTC) launched the semiconductors earnings season with a severe cut to their guidance late Thursday. Now INTC stock has plunged -10.7% in the premarket and is trading below $27. Both Nvidia (NVDA) and Advanced Micro Devices (AMD) have lost about 2% in light of the results. With these big guns…

I expect worries about the Federal Reserve to start to weigh on sentiment in the run up to the FOMC and we might be seeing the start of that now. S&P 500 futures are down 16 points, or 0.4%.Shares of Intel are the big loser, down 9.4% on poor earnings and guidance. On the flip side, shares of American Express are up 6.9% and Visa up 1.7%.The index finished at the highs yesterday. Source link

GBP/USD outlook: Bulls face strong headwinds but remain in play, US inflation data in focus Cable edges lower in early Friday’s trading as bulls continue to face headwinds and repeatedly failing to sustain gains above 1.24 mark, keeping the price action in sideways mode for one week. Strong barrier at 1.2446 (base of falling weekly cloud/Dec 14 top) continues limit recovery leg from 1.1841 (Jan 6 low), though near-term action is expected to keep bullish bias while holding above 1.2263 (Jan 24 higher low). Daily techs are weakening on fading bullish momentum and south-heading RSI, but MA’s remain in bullish…

US Core PCE Key PointsCore PCE Price Index YoY (DEC) Actual 4.4% Vs 4.7% Previous.PCE Price Index YoY (DEC) Actual 5% Vs 5.5% Previous.The Probability of a Fed Funds Peak Rate Above 5% for 2023 Continues to Decline. Recommended by Zain Vawda Get Your Free USD Forecast The CPI and Forex: How CPI Data Affects Currency PricesCore PCE prices in the US, which exclude food and energy, went up by 0.3% month-over-month in December of 2022, picking up from the 0.2% increase in the prior month and in line with market estimates. Prices for goods increased 4.6 percent and prices…

Core PCE data y/yConsumer spending and income for November:Personal income +0.2% vs +0.2% expected. Prior month +0.4%Personal spending -0.2% vs -0.1% expected. Prior month +0.1% Real personal spending -0.3% vs +0.0% priorUnder the covers of this report, the Fed might not like seeing services inflation up 0.7% m/m. That’s counteracted by a 1.0% decline in goods prices, including -2.3% in durable goods. Powell has expressed worry about core services inflation remaining high and said that’s why they plan to hike to 5.00-5.25% and stay there.The US dollar is a tad softer on the data, perhaps as the market focuses on…

Trading can be overwhelming for some. As an active trader, you are constantly bombarded with information from the economic calendar, such as economic data releases, scheduled speeches  from government officials, and media reports. And let’s not forget the unexpected geopolitical events that arise. It’s difficult sometimes to make sense of it all…to see which specific information actually has an impact on your trades. Trading plans you created just a couple hours ago can become irrelevant and useless with a single breaking news alert. When things don’t go as planned, it can be frustrating, but it’s crucial that you remain calm.…

GBP/USD AnalysisMarkets brace for a week of high importance event risk (FOMC, BoE, ECB, NFP and mega-cap tech earnings)GBP/USD technicals highlight major reversal pattern and the potential for increased volatilityFund managers’ sentiment aligns with the contrarian indicatorThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free GBP Forecast Global Markets Brace for a Week of High Importance Event RiskIt is not surprising to have witnessed a drop-off in FX volatility in recent days as markets anticipate a massive week…

York Traditions Bank GAAP EPS of $0.38, revenue of $7.35M Source link

EUR/USD TALKING POINTS & ANALYSISKey U.S. data to set foundation for next week’s rate announcements.Lagarde speech may not move markets as some may expect.Technical analysis suggests possible pullback on EUR/USD. Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro lost some ground after yesterday’s better than expected U.S. Durable Goods Orders and GDP releases respectively. The dollar now looks to be finding its footing once more and could be interesting going into next week’s Federal Reserve interest rate decision. Today has a couple events to look out for including European Central Bank (ECB) President Christine Lagarde…