Author: FX
The daily upside in EUR/USD falters around 1.0900. The greenback looks side-lined ahead of key data releases. US PCE, Core PCE, Consumer Sentiment next of note in the docket. After a brief test of the 1.0900 region earlier in the session, EUR/USD now comes under some mild downside pressure and revisits the 1.0880 zone at the end of the week. EUR/USD: Near-term top at 1.0930? EUR/USD seems to have met some resistance zone in the area of multi-month peaks near 1.0930 (January 26) amidst the broad-based consolidative mood in the global markets and some lacklustre recovery in the greenback. On…
USD/JPY meets with a fresh supply on Friday and is pressured by a combination of factors. Strong Tokyo inflation fuels speculations about a hawkish shift by the BoJ and lifts the JPY. The emergence of fresh USD selling contributes to the intraday slide ahead of the US PCE. The USD/JPY pair comes under some renewed selling pressure on Friday and reverses a major part of the overnight modest bounce from the 129.00 mark, or the weekly low. The pair remains depressed through the first half of the European session and is currently placed around the 129.80-129.75 region, down over 0.30%…
USD/JPY Price, Chart, and AnalysisTokyo’s price pressures remain hot.USD/JPY trapped ahead of important US economic data. Recommended by Nick Cawley Download our brand new Japanese Yen forecast Annual inflation in Japan’s largest city, Tokyo, continues to push higher, with the core rate touching 4.3% in January, the highest level in over four decades. The Bank of Japan will have noted this sharp move higher, and commentary yesterday from the IMF, as it looks to push inflation back to its 2% target. The IMF yesterday said that inflation in Japan was accelerating and that further upside risks remain. The IMF suggested…
Hasbro COO Eric Nyman steps down; to eliminate 1,000 full-time positions in 2023 Source link
The major US economic data yesterday (Q4 GDP lower; 3.9% from 4.2% but better than expected 3.6%, strong consumer spending, Durable goods, New Home Sales, Lower Inventories and Weekly Claims at new 22-mth lows) all added to the soft landing, disinflation, scenario for the US economy. A FOMC 25bp hike next week now has a 98% probability, up from 94% yesterday (2% for 50bp!). Stocks rallied, USD recovered and yields picked up from recent lows. Overnight – Asian stocks hit 8-mth highs and Core Inflation in Tokyo hit a 42yr high at 4.3%. European & UK…
This precious metal has been pacing back and forth inside a range visible on its short-term charts. Can silver break out soon or is another bounce in the cards? Silver (XAG/USD) 1-hour Chart by TradingView It’s the range that keeps on giving! Silver bounced off the ceiling once more, setting its sights back on the floor around the $23.235 mark. Technical indicators are pointing to more bearish vibes, as the 100 SMA is below the 200 SMA while Stochastic is heading south. Stronger downside momentum might even lead to a break below support and a corresponding drop that’s the same…
Major currencies are keeping relatively messy and mixed this week with only the aussie really showing any firm conviction in my view. And even so, AUD/USD is running into resistance from its August highs at 0.7125-36 at the moment. The dollar remains choppy for the most part, as we start to turn the attention to the Fed meeting next week.For now though, equities look to be the biggest winner on the week with another strong rebound yesterday. The S&P 500 jumped up to its highest in over six weeks as the bulls look to keep a technical break above the…
Investors have turned risk-averse ahead of the US PCE Price Index data. The formation of an Ascending Triangle indicates sheer volatility contraction. The RSI (14) has shifted into the 40.00-60.. range, which indicates an exhaustion in the upside momentum. The AUD/USD pair has corrected sharply to near 0.7100 in the early European session. The Aussie asset has sensed selling pressure as investors have turned risk averse ahead of the release of the United States Personal Consumption Expenditure (PCE) Price Index data. Meanwhile, an improvement in the safe-haven’s appeal has strengthened the US Dollar Index (DXY). S&P500 futures has demonstrated a…
Looking for setups to trade before the trading week ends? I gotchu! Bitcoin (BTC/USD) is consolidating after an upside breakout while CHF/JPY looks set to extend a weeks-long trend. Check them out! Bitcoin (BTC/USD) 1-hour Crypto Chart by TradingView The OG crypto has come a long way from its sub-17,000 lows! BTC/USD is now trading around the 23,000 zone after breaking above an ascending channel pattern last week. Can BTC bulls keep the party going in the next few days? BTC/USD is stuck inside a range between 22,450 and 23,200 and the 100 SMA is tightening its gap against the…
© Reuters. FILE PHOTO: People visit the LG display at the international consumer technology fair IFA in Berlin, Germany September 2, 2022. REUTERS/Lisi Niesner By Joyce Lee and Heekyong Yang SEOUL (Reuters) – South Korean display panel maker LG Display (NYSE:) said it planned to cut costs in the first half of this year after posting a record quarterly loss, as global demand for smartphones, computers and televisions remains depressed. The Apple Inc (NASDAQ:) supplier flagged a turnaround in the second half, pledging cost-cutting and inventory management until demand for its screens recovers later in the year. With the economic…