Author: FX
A snippet on oil from Société Générale, looking at Brent:A falling wedge generally denotes receding downward momentum; this is also highlighted by daily MACD which held on to last July’s lows and has entered positive territory. However, reclaiming the upper limit of the wedge at $89/90 is essential to affirm an extended up-move towards $94 and graphical levels of $98/100.If Brent is unable to defend the 50DMA near $84, the down move is likely to resume. Next potential supports could be at low of December at $75.10 and projections of $73/72.The below is my chart, trying to duplicate what SG…
USD/CAD is looking to extend its downside towards a weekly low around 1.3340 amid the risk-on market mood. The BoC is expected to hike interest rates further by 25 bps to 4.50% this week. Oil prices might deliver a recovery amid optimism over China’s economic recovery. The USD/CAD pair has dropped to near 1.3367 gradually in early Asia after failing to shift its auction above the round-level resistance of 1.3400. The Loonie asset is expected to stretch its downside journey to near the weekly low around 1.3340 as the risk-taking capacity of the market participants has improved. The risk appetite…
Entegris chief financial officer Greg Graves to retire Source link
3/3 © Reuters. FILE PHOTO: Mexico City’s Mayor Claudia Sheinbaum speaks near Mexico’s President Andres Manuel Lopez Obrador (not pictured) during a news conference at the Old City Hall (Antiguo Palacio del Ayuntamiento), in Mexico City, Mexico January 20, 2023. REUTER 2/3 By Cassandra Garrison and Dave Graham MEXICO CITY (Reuters) – The second major accident in the Mexico City metro in as many years and a series of recent mishaps in the transport system have piled pressure on Mayor Claudia Sheinbaum, one of the favorites to become the country’s next president. The Jan. 7 train collision that killed one person and…
The Pound Sterling (GBP) is retreating after hitting a seven-month high at 1.2447, though it lacked the strength to hold to the 1.2400 figure and is meandering in the 1.2380s area. At the time of writing, the GBP/USD exchanges hands at 1.2375, below its opening price by a minimal margin. Read More… GBP/USD struggles to defend the 1.2400 threshold during a five-day uptrend to Monday’s European session, after rising to the highest levels since June 2022 earlier in the day. Read More… GBP/USD news intraday top near 1.2435 as Cable buyers cheer the broadly down US Dollar and hopes of…
The price of WTI WTI WTI is the short-hand for West Texas Intermediate crude oil. WTI is a type of petroleum crude oil that serves as a benchmark in oil pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a high-quality oil due to its low sulfur content and high yields of gasoline and diesel fuel when refined. It is used as a benchmark for pricing other types of crude oil, and the price of WTI crude o WTI…
Bim Wall Street’s major indices extended their rally to a second straight session on Monday, helped by gains in technology stocks. Investors also geared up for an earnings-heavy week that will see many major names report their quarterly results. By late afternoon, the tech-heavy Nasdaq Composite (COMP.IND) was up 2.09% to 11,373.06 points. The benchmark S&P 500 (SP500) was 1.41% higher to 4,028.50 points, while the blue-chip Dow (DJI) added 0.98% to 33,702.07 points. All 11 S&P sectors were trading in the green, with heavyweight sectors Technology and Communication Services leading the gains. All three indices extended their gains from…
2/2 © Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo 2/2 By Howard Schneider WASHINGTON (Reuters) – Kansas City Federal Reserve President Esther George has urged her colleagues to come to terms “earlier than later” on a plan for the U.S. central bank to exit the mortgage-backed securities (MBS) market and be more explicit on how bond purchases will figure into future monetary policy. “You can’t just wake up one day and say, ‘hey, we’re going to get out of this business,'” George, who is retiring from her…
Nasdaq, S&P 500 Talking Points:The Nasdaq and S&P 500 have both broken out to fresh monthly highs as earnings season heats up this week.Stocks broke out a couple of weeks ago after an abysmal PMI report and that bullish theme has largely continued since then. Markets are hopeful that slowing inflation and disappointing data may compel a softer Fed. The big question for this week is how impacted earnings have been from the tighter macro environment and how companies are expecting this to impact forward-looking projections.The analysis contained in article relies on price action and chart formations. To learn more…
NZDUSD trades in an up and down technical rangeThe NZDUSD NZD/USD The NZD/USD is a commonly offered currency pair representing the New Zealand dollar or Kiwi and US dollar. The pair is popular for exposure into a commodity currency, i.e. the NZD, which helps capture risk appetite for forex traders. Like its Antipodean counterpart, the Australian Dollar, the NZD/USD is seen as a carry trade, due in part to interest rate differentials which favor the NZD. The NZD is the world’s seventh most liquid pair at the time of writing with the USD being the world’s most The NZD/USD is…