Author: FX
NZD/USD and Bitcoin (BTC/USD) sellers are stepping up their game! Will their technical resistance levels hold? Or will we see breakouts this week? NZD/USD Daily Forex Chart by TradingView NZD/USD has been having a good run after bouncing from its .5550 October lows. The uptrend is hitting a snag at the .6500 psychological level, however. Specifically, NZD/USD is forming a Double Top pattern around the area that had served as support and resistance in 2022. The oscillator is also pointing to more selling as it signals a potential turn from the “overbought” zone. The cherry on top of the sweet…
Crude Oil, WTI, IEA Report, US Retail Sales, EIA Inventories – Talking Points:Crude oil sinks the most in 2 weeks as soft US data scares tradersMeanwhile, an IEA report underscored 2023 global supply glut betsFocus shifts to EIA weekly stockpiles as WTI faces triangle pattern Recommended by Daniel Dubrovsky Get Your Free Oil Forecast WTI crude oil prices fell 2.36 percent on Wednesday, marking the worst single-day drop in two weeks. The deterioration in energy prices was not an isolated event. A closer look at an intraday chart shows that oil prices fell alongside the S&P 500, which dropped the…
Yen bulls are certainly not shying away even after the BOJ policy decision yesterday. In part, I think the constant barrage of commentary (from government officials and those with ties to the central bank) still suggesting a policy shift is enough to fuel the market’s appetite.Meanwhile, the dollar also made a strong comeback after the disappointing retail sales and softer PPI figures from yesterday. It certainly begs the question as to whether is bad news really bad news again now?The failed breakout in US equities is one to watch as it could weigh further on the risk mood and that…
NZD/USD trades with modest losses on Thursday, though the downside remains cushioned. Looming recession risks weigh on investors’ sentiment and undermine the risk-sensitive Kiwi. Subdued USD price action lends some support to the major and helps limit any deeper losses. The NZD/USD pair edges lower during the Asian session on Thursday and moves away from its highest level since June 2022, around the 0.6530 area touched the previous day. Spot prices, however, manage to hold above the 0.6400 mark, making it prudent to wait for strong follow-through selling before positioning for any further intraday downfall. The weaker US macro data…
USD/CAD made lowkey higher highs and higher lows in 2022 after bouncing from its 1.2050 lows in 2021. But have the bulls run out of steam? USD/CAD is still making higher lows, but its lower highs have locked the pair inside a symmetrical triangle pattern on the daily time frame. More importantly, USD/CAD made the consolidation pattern just as it hit the middle of its years-long range. Will the consolidation’s breakout also hint at USD/CAD’s next direction? USD/CAD Daily Forex Chart by TradingView The odds currently favor the U.S. dollar thanks to the 100 and 200 SMAs supporting an uptrend.…
The CEO of crypto exchange FTX has rejected calls for its law firm Sullivan & Cromwell to be replaced as lead counsel in its bankruptcy case. John J. Ray III, who was appointed as the new FTX CEO on Nov. 11, filed a court motion on Jan. 17, arguing that Sullivan & Cromwell has been integral in taking control over the “dumpster fire” that was handed to him. Continue Reading on Coin Telegraph Source link
A snippet from JPMorgan’s Marko Kolanovic. He had garnered a bit of a reputation as a perma-bull but has managed to shake that off. Remarks:We remain cautious on risk assetsare reluctant to chase the past weeks’ rally as recession and overtightening risks remain higha lot of good news is already in the price in terms of inflation moderation or the potential for a soft landing“The market is behaving as if we were in an early cycle recovery phase, but the Fed has not even concluded hiking yet,”While signs of declining inflation pressures are in principle positive, ongoing tightness in labor…
GBP/USD oscillates below 1.2350, downside looks favored on hawkish Fed commentary The GBP/USD pair is displaying back-and-forth moves after a south-side drive below the critical resistance of 1.2350 in the early Tokyo session. The Cable witnessed sheer selling pressure on Wednesday after failing to sustain above 1.2435 as hawkish commentaries from Federal Reserve (Fed) policymakers trimmed the risk appetite of the market participants heavily. Read More … Pound jumps as inflation eases The British pound is in full flight on Wednesday. In the North American session, GBP/USD is trading at 1.2393, up 0.86%. UK inflation eased for a second straight…
Andranik Hakobyan Hypertension drug developer Mineralys Therapeutics (MLYS) has filed for a $100M initial public offering. The biotech company didn’t specify in its filing the price or number of shares to be offered, but indicated in its filing fee schedule that it was seeking $100M, a figure that is likely a placeholder and subject to change. Mineralys hopes to list its shares on Nasdaq under the symbol MLYS. Bookrunners include BofA Securities, Evercore ISI, Stifel, Guggenheim Securities, Credit Suisse and Wells Fargo Securities. Based in Radnor, Penn., Mineralys is working on medications to treat diseases driven by abnormal levels of…
DariaRen Oil and gas company MorningStar Partners, also known as TXO Energy Partners (TXO), has set terms for a proposed $100M initial public offering. TXO said in its latest filing that it is now looking to offer 5M units, representing limited partners interests, priced between $19 and $21, which would raise $100M if priced at the midpoint. Proceeds from the deal would go in part to pay down debt. The oil company hopes to list its shares on Nasdaq under the symbol TXO. Bookrunners include Raymond James, Stifel, Janney Montgomery Scott and Capital One Securities. TXO first filed for an…