Author: FX
EUR/USD OUTLOOK:EUR/USD rallied to its best levels since May 11 after the Federal Reserve and ECB decision this past weekThe Fed held borrowing costs steady, but signaled a higher terminal rate. However, traders were skeptical of the U.S. central bank’s plans to resume hiking againThe ECB, meanwhile, raised rates and revised upwards its inflation forecasts, leading markets to price in additional tightening for the coming months Recommended by Diego Colman Get Your Free EUR Forecast Most Read: Japanese Yen Outlook – USD/JPY Extends Upside after Dovish BoJ DecisionEUR/USD took a nosedive in May, dropping below the 1.0700 handle towards the…
© Reuters. FILE PHOTO: A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Corrects headline to remove extraneous word) (Reuters) – Binance, Binance.US and the Securities and Exchange Commission (SEC) announced a deal to ensure that only Binance.US employees could access customer funds, CoinDesk said on Saturday. Source link
RelaxFoto.de/E+ via Getty Images Southern Co.’s (NYSE:SO) Georgia Power is delaying the commercial operation of the newly constructed Unit 3 reactor at its Vogtle nuclear power plant for at least another month, it said Friday in an 8-K filing. Southern (SO) said a degraded hydrogen seal in the main generator was found during the start-up and pre-operational testing of Plant Vogtle Unit 3, and it now estimates the in-service date for the reactor will occur in July, instead of June as had been expected. The utility said Unit 3, whose power-ascension testing is ~95% complete, operated as designed during the…
SlavkoSereda/iStock via Getty Images Crude oil exports out of Iran have surged to five-year highs despite U.S. sanctions, signaling something of a resurgence for the country on the world stage but also sapping confidence in an oil market already weakened by lackluster global economic growth and cheap Russian cargoes. Iranian crude shipments doubled since last fall to reach 1.6M bbl/day in May, analysts at Kpler reported Friday, the highest level since sanctions were re-imposed in 2018. Iran has said it has raised its total crude production to above 3M bbl/day, which would equal ~3% of global supply and the highest…
© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 3, 2023. REUTERS/Brendan McDermid By Noel Randewich and Sruthi Shankar (Reuters) – The ended lower on Friday, weighed down by Microsoft and other market heavyweights as comments from two Federal Reserve officials curtailed optimism that the central bank is nearing the end of its aggressive interest rate hikes. The Nasdaq also ended the week lower, although the index and the S&P 500 remained near 14-month highs after economic data this week pointed to cooling inflation, eclipsing concerns about further rate…
Share: USD/JPY surges to a YTD high of 141.91, though failure to surpass 142.00 could trigger a sell-off. The rising wedge pattern sparks uncertainty as USD/JPY nears key resistance. Japanese FX intervention may influence future USD/JPY direction. USD/JPY soared more than 1% on Friday due to safe-haven flows and a jump in US Treasury bond yields. On its way north, the USD/JPY reached a new year-to-date (YTD) high of 141.91 after bouncing off daily lows of 139.85. At the time of writing, the USD/JPY is exchanging hands at 141.85. USD/JPY Price Analysis: Technical outlook USD/JPY finished the week…
Share: NZD/USD traded neutral at the 0.6230 area on Friday but set a 1.70% weekly gain. Hawkish Fed speakers and upbeat UoM data gave the USD momentum. Rising US bond yields limited the Greenback’s traction. The NZD/USD traded stable at the 0.6210 – 0.6245 range at the end of the week, holding to a 170 pip weekly gain. In that sense, hawkish Federal Reserve (Fed) speakers lifted the US bond yields while upbeat consumer confidence data from the University of Michigan gave the Greenback an additional boost. On the NZD’s side, now relevant economic data was released, and…
A view technically for the EURUSD into the week starting June 19 The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency,…
It was a slow start to the trading week before market players started placing their bets ahead of the major catalysts, particularly the U.S. CPI report and three central bank decisions. Top-tier U.S. events turned out to be a bit of a surprise, including U.S. CPI falling short of estimates while the FOMC stayed very hawkish despite hitting the pause button with their rate hikes. Although the Greenback managed to rake in some gains when policymakers dropped tightening hints, the U.S. currency is trailing behind most of its peers, along with the lower-yielding yen. USD Pairs Overlay of USD vs.…
The strongest to the weakest of the major currenciesThe day and week is ending with the GBP as the strongest and the JPY as the weakest. The JPY sharp fall was triggered by the Bank of Japan rate decision. The Bank of Japan (BOJ) decided to keep its short-term interest rate target at -0.1% and its 10-year Japanese Government Bond (JGB) yield target around 0%, with a band up and down 0.5% each. This decision, part of the BOJ’s yield curve control (YCC) strategy, was made unanimously. In the statement, the BOJ observed that Japan’s economy is improving, and it…