Author: FX
Newfoundland Discovery plans C$1M private offering Source link
© Reuters. Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration By Alex Lawler LONDON (Reuters) -Oil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of COVID-19 restrictions in China is set to increase global demand to a record high this year, the International Energy Agency (IEA) said on Wednesday, a day after OPEC also forecast a Chinese demand rebound in…
GBP/USD News and AnalysisDisappointing retail sales during a strike affected December poses concerns for shoppersGBP/USD eases after the report, heading into the weekend looking for support at 1.2300Attention turns to next week with the first look at US GDP and PCE inflation data, UK PMIs tooThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow See what our analysts foresee in sterling for Q1 Disappointing December Retail Sales DataRetail sales volumes have fallen 1% from November, indicating a challenging environment for consumers…
CME Group’s flash data for gold futures markets noted traders increased their open interest positions by around 8.7K contracts on Thursday, reversing Source link
Just when we thought the $1,900 mark would hold as resistance, events from the past couple of days only reinforced spot gold’s uptrend. See, economic releases from major economies like the U.S., U.K., and Japan pointed to their inflation peaking and their respective central banks being less hawkish in their next policy meetings. A slower pace of interest rate hike – especially for the Fed – reduces the opportunity cost of owning safe-haven gold against the safe-haven U.S. dollar. At the same time, this week’s economic themes and data releases are keeping recession fears alive in the markets. Gold (XAU/USD)…
Better US data (Unemployment Claims & Philly Fed Manu Index) could not lift the USD (USDIndex under 102.00) & Wall St. (-0.76% to -0.96%). US hit its latest debt ceiling ($31.4 trillion) as Republicans try to rein in Biden’s spending. Potential default postponed until June 5. More Hawkish comments from FED speakers (even key Dove Vice Chair Brainard) talking 5.00%+ terminal rates failed to rally USD. Bonds picked up, the US 10-yr yield dropped to 3.41%. Asia markets are higher ahead of Lunar New Year holidays with the huge Chinese population on the move and…
UK retail December sales drop 1% vs. consensus of 0.5%; compares to November retail sales drop of 0.4%. The figure measures change in the total value of inflation-adjusted sales at the retail level, where actual greater than projected is good for the currency. Second monthly drop is a sign that the UK consumer is suffering as retail sales miss on estimates by quite some margin. Sales volumes were 1.7% below their pre-coronavirus (COVID-19) February levels. Non-food stores sales volumes fell by 2.1% and food store sales volumes fell by 0.3% on the month. The proportion of online sales fell to…
Three men reportedly drove their car into the metal barricade outside Sam Bankman-Fried’s parent’s home where he is currently under house arrest, SBF’s lawyers claim. In a filing to the federal court, the lawyers for the former FTX CEO said the three men got out of the car after hitting the barricade and told a security guard guarding the home: “You won’t be able to stop us.”Continue Reading on Coin Telegraph Source link
Just when you thought equities might turn things around to start the new year, we’re now dealing with a bit of a not so fast moment. As highlighted here, the failed breakout for the S&P 500 is the key thing to watch and we saw the index fall another 0.7% in trading yesterday.The 200-day moving average (blue line) and key trendline resistance (white line) from the downtrend last year remain the major levels limiting any material upside momentum in US equities at the moment. It does play a factor into overall risk mood as well but note how I am…
Is the trend still our friend on these charts? Check out these nearby correction levels on USD/CHF and Netflix (NFLX) shares! USD/CHF 4-hour Forex Chart by TradingView This pair has been edging lower inside a descending channel that’s been holding since December. Another trend correction seems to be shaping up, as price is bouncing off support again. Are sellers about to return soon? Technical indicators are looking mixed, as the 100 SMA is below the 200 SMA to reflect bearish vibes while Stochastic is pulling higher. This means that the pullback could keep going until the oscillator reaches the overbought…