Author: FX
Stock market sentiment remains supported ahead of the US inflation report, with markets starting to look past the current wave of tightening moves and buying into hopes that final rates will be reached sooner rather than later this year. Yields have come down and stocks are benefiting. Australia and New Zealand bonds bounced today with yields stabilizing after being pushed up by stronger than expected local inflation data yesterday. The USDIndex is tumbling, between 102.60-103.20 for a 3rd consecutive day. EUR – rallied to 7-month low to 1.0777. JPY – got a boost today on…
Avalanche (AVAX/USD) just broke above a key resistance on the daily time frame! Can the token sustain its upswing? Or are we seeing a fakeout? Avalanche (AVAX/USD) Daily Chart by TradingView Like most cryptocurrencies, Avalanche’s token AVAX received a boost from risk-taking yesterday. AVAX/USD, which had been consolidating under 12.00, jumped 25% higher and is now trading near the 16.00 zone. But can the token sustain its upswing? The fundamentals are on the bulls’ side after Avalanche’s developer Ava Labs announced its partnership with Amazon Web Services (AWS). Word around is that Ava Labs will offer “Subnet deployment” as a…
It’s all about the US CPI data today but this is a market that is wanting a softer number, if the recent dollar and risk mood is anything to go by. EUR/USD is staying more tentative upon its latest breakout attempt above 1.0700 with AUD/USD also cautious in making its way towards the 0.7000 mark. Meanwhile, the S&P 500 has steadily climbed up to be within range of its 200-day moving average and key trendline resistance once again:The question now is, will the inflation numbers help kick those plays into second gear as the new year gets underway?What are your…
In the opinion of UOB Group’s Economist Lee Sue Ann and Market Strategist Quek Ser Leang, extra upside in EUR/USD is expected to clear the 1.0785 level in the next few weeks. Key Quotes 24-hour view: “We expected EUR to ‘trade between 1.0700 and 1.0760’ yesterday. However, EUR edged to a high of 1.0776 before closing at 1.0755 (+0.20%). Upward momentum has improved a tad and EUR is likely to trade with an upward bias. That said, it remains to be seen if EUR can maintain a foothold above the major resistance at 1.0785 (there is another resistance at 1.0820).…
Logitech guides Q3 revenue below consensus, cuts FY23 outlook Source link
© Reuters. FILE PHOTO: A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan August 31, 2018. Picture taken August 31, 2018. REUTERS/Tyrone Siu/File Photo TAIPEI (Reuters) – Taiwanese chipmaker TSMC posted a 78% rise in fourth-quarter net profit on Thursday, posting yet another quarterly record, as strong sales of advanced chips helped it defy a broader industry downturn that battered cheaper commodity chips. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a major Apple Inc (NASDAQ:) supplier, saw net profit for October-December hit a record T$295.9 billion ($9.72 billion)…
It’s all about chart patterns on today’s canvas! Check out these symmetrical triangles on the 4-hour charts of GBP/CHF and WTI crude oil. GBP/CHF 4-hour Forex Chart by TradingView First up is this support bounce off the triangle bottom on GBP/CHF. Is the pair about to test the resistance anytime soon? The short-term double bottom breakout is suggesting that a rally of the same height as the chart pattern, which spans around 150 pips, is in the cards. This might be enough to take the pair to the triangle top around 1.1400-1.1450, which might keep gains in check. After all,…
The US CPI report is at 8.30am US Eastern Time:On the speaking agenda after the data are:08:45am US ET (13456 GMT) Federal Reserve Bank of Philadelphia President Patrick Harker speaks on the economic outlook before the Main Line Chamber of Commerce Economic Forecast 2023 and Annual Meeting, in Malvern, Pa11:30am (1630 GMT) Federal Reserve Bank of St. Louis President James Bullard speaks and participates in moderated conversation on the U.S. Economy and Monetary Policy before virtual Wisconsin Bankers Association Midwest Economic Forecast Forum12:40pm (1740 GMT) Federal Reserve Bank of Richmond President Thomas Barkin speaks on the 2023 economic outlook before…
GBP/USD grinds near intraday high, snaps two-day losing streak. Bullish candlestick formation, sustained bounce off key moving average favor buyers. Sellers remain off the table unless witnessing fresh monthly low. GBP/USD justifies the previous day’s bullish candlestick formation above the 200-day Exponential Moving Average (EMA) as it prints the first daily gains in three. That said, the Cable pair portrays mild gains near 1.2165 heading into Thursday’s London open. That said, the quote bounced off the 200-day EMA on Wednesday and marked a Doji candlestick to signal a reversal of the previous downside. Adding strength to the upside bias was…
Missed the channel breakout on EUR/NZD? You might still have a chance at catching the reversal on this short-term pullback! EUR/NZD 4-hour Forex Chart by TradingView Brace yourselves, euro bulls! An uptrend could be in the works for EUR/NZD, as price just busted through the top of its descending channel on the 4-hour time frame. Before the pair heads any higher, though, a pullback might be needed to gather more bullish energy. The handy-dandy Fib tool shows that the 38.2% level is right around the 1.6850 minor psychological mark and area of interest. This is also near the dynamic support…