Author: FX
GBP/USD reached its daily low after the release of US S&P Global PMIs. Business activity in the UK reignited recession fears and weakened the GBP. The market expects the Bank of England to hike rates by 50 bps on February 2 – RTRS Poll. GBP/USD surrenders 1.2400 and drops towards the 1.2310 regions amid a mixed mood trading session, as US equities fluctuate between gainers/losers. Nevertheless, the American Dollar (USD) is losing traction and edging lower, capping the GBP/USD’s fall. At the time of writing, the GBP/USD is trading at 1.2320 after hitting a high of 1.2413. GBP/USD fell as…
Introduction to the Double Stochastic RSI Indicator Oscillators which are bound within a fixed range are often effective for identifying potential mean reversals. One example of this indicator is the Stochastic Oscillator, which is very effective for identifying mean reversals based on shorter price swings and pulses. Just like the classic Stochastic Oscillator, the Double Stochastic RSI Indicator is also an effective tool for identifying mean reversals. However, it is geared towards longer trends rather than shorter price swings. What is the Double Stochastic RSI Indicator? The Double Stochastic RSI Indicator is a momentum indicator which is based on the…
MGIC Investment declares $0.10 dividend Source link
USD/JPY back into negative territory after a spike following US data. US PMI S&P Global recovers in January, still below 50. US Dollar weakens during the American session amid risk appetite. The USD/JPY spiked to 131.21, following the release of US economic data but then pulled back toward 130.00 as stocks turned positive on Wall Street. The improvement in risk sentiment weighed on the US dollar. Data released on Tuesday showed the PMI S&P Global Manufacturing rose in January according to preliminary numbers from 46.2 to 46.8, above the 46.1 of market consensus. The Service index climbed from 44.7 to…
2/2 © Reuters. FILE PHOTO: German Chancellor Olaf Scholz delivers a speech in front of a Leopard 2 tank during a visit to a military base of the German army Bundeswehr in Bergen, Germany, October 17, 2022. REUTERS/Fabian Bimmer 2/2 By Sarah Marsh and Andreas Rinke BERLIN (Reuters) – “Scholzology” – the art of understanding German Chancellor Olaf Scholz’s decisions – is in vogue as critics at home and abroad question his reluctance to supply the German-made battle tanks Ukraine wants to repulse Russian forces. His hesitation reflects a caution driven in part by Germany’s military aggression in the last…
GBPUSD below the 50% of range since 2021 highThe GBPUSD has dipped back below the 50% midpoint of the range since 2021 high. That level comes in at 1.2300. The low reached 1.22652, but has bounced back toward the 1.2300 level. The price just traded back to 1.22977. Watch the 1.23000 for short term bias clues today. Taking a look at the hourly chart below, near the 1.2300 level is the 200 hour MA at 1.22957. That increases the areas importance. The price of the pair fell sharply today and traded above and below the 200 hour MA at the…
U.S. DOLLAR ANALYSIS & TALKING POINTSPMI data surpasses estimates across the board.Will we see a complete descending triangle break? Recommended by Warren Venketas Get Your Free USD Forecast Get My Guide USD FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter The Dollar Index (DXY) reacted favorably to the latest bout of S&P Global PMI data for January. Although markets tend to prefer ISM data, the S&P report has managed to quell some of the recessionary talk that has been plaguing recent headlines. The services…
Economists at CIBC Capital Markets see the Canadian Dollar stuck in neutral in Q1 as markets are almost fully priced for BoC and Fed action, before gaining ground over the rest of 2023 as the USD falls out of favour. USD/CAD to reach 1.28 in 2024 “With markets almost fully priced for both the Bank of Canada and Federal Reserve over the rest of Q1, expect the Loonie to be stuck in neutral in the near term, with USD/CAD likely ending the quarter at 1.34.” “We expect USD/CAD to end the year at 1.31.” “With global growth likely to receive…
AMSC bags $26M new energy power system orders Source link
Australian Consumer Price Index (CPI) figures are due on Wednesday, January 25 at 00:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers of seven major banks regarding the upcoming inflation data. Headline inflation is expected at 7.5% year-on-year in Q4 vs. 7.3% in Q3, while trimmed mean is expected at 6.5% YoY vs. 6.1% in Q3. For December alone, headline is expected at 7.7% YoY vs. 7.3% in November. ANZ “We have lifted our Q4 trimmed mean CPI inflation forecast to 1.7% QoQ. This would see the annual rate reach 6.7%,…