Author: FX
Remember when the Bank of England (BOE) said that it would look for signs of “persistent inflationary pressures?” Well, the U.K. recently printed its latest consumer prices and hoo boy did it surprise to the upside. Annualized CPI came in at 10.4% y/y in February, higher than the expected 9.9% uptick and the 10.1% reading in January. Not surprisingly, the stickiness of high inflation in the U.K. got the markets backing down from their “peak rate” bets for the BOE. GBP/USD 1-hour Forex Chart by TradingView Meanwhile, the Fed has shifted its rate hike narrative from anticipating “ongoing rate increases”…
Bounce or break? USD/CAD and GBP/NZD are currently testing support zones on their hourly charts. Will buyers return soon? GBP/NZD 1-hour Forex Chart by TradingView Let’s start off with this trend channel play on the 1-hour chart of GBP/NZD. The pair is in the middle of a correction and is down to the mid-channel area of interest. Now this happens to be right smack in line with the 38.2% Fibonacci retracement level at the 1.9650 minor psychological mark. If this is enough to attract strong buying pressure, price could resume the climb to the swing high near the 1.9800 handle…
© Reuters. FILE PHOTO: The Evergrande Center of China Evergrande Group is seen in Shanghai, China September 24, 2021. REUTERS/Aly Song HONG KONG (Reuters) – China Evergrande Group’s long-awaited offshore debt restructuring proposals failed to address investor concerns about the property sector’s prospects, sending shares of rival developers lower on Thursday. Evergrande, which has been at the centre of China’s property sector crisis, on Wednesday announced restructuring proposals for its $22.7 billion worth of offshore debt, seen as a test of investor sentiment toward the embattled sector. An index tracking mainland-based property developers slipped 1.1% by early morning Hong Kong…
Gold, XAU/USD, Federal Reserve, Jobless Claims – Briefing:Gold prices gained on the Fed as USD and Treasury yields fellAll now focus on US initial jobless claims to gauge SVB impactXAU/USD turned back towards key resistance, where to next? Recommended by Daniel Dubrovsky How to Trade Gold Gold prices gained about 1.6% on Wednesday in the aftermath of the Federal Reserve rate decision and Chair Jerome Powell’s press conference. The takeaway from the Fed was that Mr Powell stressed that at this time, policymakers did not see the case for rate cuts this year. The latter is something that markets have…
It looks like the S&P 500 is about to bounce off an area of interest! Will the reversal gain traction from here? If so, the equity index could set its sights on these next downside targets. S&P 500 Index (SPX500) 1-hour Chart by TradingView Remember that break-and-retest setup we were watching on this index last week? Well, it looks like the former support zone is already holding as a ceiling, so I’m looking at where price could go from here. The Fibonacci extension tool shows the levels that sellers might be aiming for. The 38.2% level looks like a potential…
Regal Rexnord, Altra Industrial receive all regulatory approvals, deal to close Monday Source link
Coinbase discloses receipt of Wells Notice “alleging violations of the federal securities laws” related to “aspects of the Company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet.”ie, SEC notice formally declaring the regulator’s plans to bring an enforcement action against the largest US crypto exchange This will tarnish the crypto complex. Bitcoin Read this Term dropped on Wednesday, US time, FOMC related ’twas said. Might have been some insider activity on this also. Related – did anyone hear about the spruiker pumping BTC to $1m this week. I hope for the fools who listened that it didn’t…
Share: The GBP/USD is rallying sharply after the US Federal Reserve raised rates by 25 bps. Federal Reserve officials updated its dot-plot, with 10 out of 18 policymakers expecting another 25 bps rate hike by the end of the year. At the time of typing, the GBP/USD is trading volatile within the 1.2240-1.2300 range as traders brace for Fed’s Powell press conference. Read More… The GBP/USD retreated more than 70 pips from the six-week high it reached earlier of 1.2297 and dropped to 1.2218 as Pound’s momentum following UK CPI faded, ahead of the Federal Reserve’s decision. Read More… The GBP/USD pair…
US DOLLAR OUTLOOK:U.S. dollar lacks directional conviction, moving between small gains and losses, as traders avoid taking large positions ahead of the FOMC decisionThe Fed is expected to hike interest rates by 25 basis points to 4.75%-5.00%, though some market participants anticipate a pause in the central bank’s tightening cycleThe US dollar’s near-term outlook is likely to hinge on FOMC’s guidance Recommended by Diego Colman Get Your Free USD Forecast Most Read: EUR/USD Bounce Facing Strong Resistance at the 1.08 Level Ahead of FOMCThe U.S. dollar, as measured by the DXY index, lacks directional conviction on Wednesday morning, moving between…
Douglas Rissing Major market averages traded slightly higher on Wednesday morning as investors wait for word from the FOMC. Early on and the Nasdaq (COMP.IND) gained 0.2%, S&P 500 (SP500) rose by 0.2%, and the Dow (DJI) picked up 0.1%. The 10-year Treasury yield (US10Y) was flat at 3.60% and the 2-year yield (US2Y) gained 3 basis points to 4.20%. There have “certainly been false dawns before, but yesterday saw several milestones that added to the optimistic mood,” Deutsche Bank’s Jim Reid wrote. “Among others, bank stocks experienced their best performance so far this year, the VIX index of volatility…