Author: FX
GBP/JPY is struggling to sustain above 157.00 as UK wage growth might trigger inflation projections. The Japanese Yen is gaining strength despite rising uncertainty ahead of the Bank of Japan policy. A shortfall of labor in the UK economy is creating troubles for the Bank of England policymakers. GBP/JPY is demonstrating an Inverted Flag formation which might result in further weakness in the cross. GBP/JPY is struggling to shift its business above the immediate resistance of 157.00 in the early European session. The cross is facing barricades in escalating its recovery further amid rising chances that the Bank of England…
Who’s up for reversal setups? If you are, then you better not miss what’s cooking on GBP/USD and CAD/CHF’s 4-hour charts! Check them out! GBP/USD 4-hour Forex Chart by TradingView Has Cable used up its start-of-year mojo? Not only is GBP/USD not getting through the 1.2300 psychological handle, the pair is also forming a potential Head and Shoulders pattern! If the pattern forms its second “shoulder,” then we could see GBP/USD retest the 1.2100 “neckline.” We could even see the pair drop back to its sub-1.2000 levels especially if traders pay more attention to the bearish SMA crossover. If the…
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© Reuters. FILE PHOTO: The logo of Foxconn is seen outside the company’s building in Taipei, Taiwan, Nov. 10, 2022. REUTERS/Ann Wang//File Photo (Reuters) – Taiwan’s Foxconn has appointed Michael Chiang as the new boss for its iPhone assembly business after a tumultuous year in China, Bloomberg News reported on Tuesday, citing people familiar with the matter. Chiang replaces longtime leader Wang Charng-yang as head of the iPhone assembly division, the report added. Foxconn declined to comment. Apple (NASDAQ:) did not immediately respond to a request for comment. Source link
The S&P 500 Index is testing a verrry closely-watched technical resistance! Uncle Sam’s S&P 500 stock index (SPX) started the year on a strong note, rising from a consolidation near 3,800 to trade closer to the 4,000 psychological zone. What makes the chart more interesting this week is that it’s trading juuuuust above the 200 SMA on the daily time frame. That hasn’t happened consistently since April 2022! More importantly, traders around the world consider the 200 SMA to be a bellwether. Stocks (or indices) trading above the 200 SMA are believed to be in a bull cycle, while assets…
Procter & Gamble Co (PG.s) is a leading multinational company that, together with its beauty division, offers consumer packaged goods and various beauty products to consumers worldwide under well-known brands such as Head & Shoulders, Pantene, Rejoice, Olay and Old Spice, among others. The company has a capitalization of $357.5M and is expected to release its Q2 2023 earnings report on Thursday, January 19, 2023 before the market opens. Estimated P&G EPS Source: Nasdaq Zacks positions Procter & Gamble Rank #2 (Buy) in the Top 26% position #64/250 of the Soap and Cleaning Materials industry. EPS of $1.58 is expected…
Reuters with the headline:China’s economy slows sharply in Q4, 2022 growth one of the worst on recordReporting on data released from China:The official 2022 growth number appears overstated:If there is a bright point is that 2023 should improve. Oxford Economics quoted in the Reuters report:”The good news is that there are now signs of stabilisation, as policy support doled out towards the end of 2022 is showing up in the relative resilience of infrastructure investment and credit growth. The better news is that we see continued policy accommodation through off-budget fiscal channels in 2023.”Link to the Reuters recap report on…
USD/JPY picks up bids to extend the week-start rebound from the lowest levels since May 2022. Upbeat RSI backs confirmation of bullish chart pattern to tease buyers. 200-HMA acts as final defense of buyers, 50-HMA guards immediate downside. USD/JPY refreshes intraday high around 129.15 as it pierces the neckline of a two-day-old inverse head-and-shoulders (H&S) bullish chart pattern during early Tuesday, retreating to 129.00 by the press time. Not only the inverse H&S confirmation but the upbeat RSI (14), not overbought, also adds strength to the USD/JPY rebound from the lowest levels since late May 2022. As a result, the…
© Reuters. FILE PHOTO: Travellers wearing face masks following the coronavirus disease (COVID-19) outbreak line up at check-in counters of Shanghai Hongqiao International Airport as the Spring Festival travel season begins ahead of the Chinese Lunar New Year, in Sha By Allison Lampert, Jamie Freed and Doyinsola Oladipo (Reuters) – U.S. and European airlines will benefit from pent-up demand for travel to China after its recent border reopening, but route approvals, fresh COVID-19 testing rules and not enough large aircraft remain barriers to rising sales, analysts and industry officials say. Travel is returning to China, the world’s largest outbound tourism…
BioMed X, AbbVie extend partnership to focus on immunology research Source link