Author: FX

Headlines:Markets:NZD leads, JPY lags on the dayEuropean equities mixed; S&P 500 futures up 0.3%US 10-yeaar yields down 3 bps to 3.518%Gold down 0.1% to $1,986.53WTI crude up 0.5% to $71.23Bitcoin down 1.1% to $26,675It was a quiet session in terms of headlines but there were some decent and light moves during the session at least.The handover from Asia saw major currencies stuck in very narrow ranges but that extended in European morning trade, as the dollar gathered a bit of poise – particularly against the euro, pound and yen.EUR/USD fell from 1.0860 to 1.0820 while GBP/USD declined from 1.2480 to…

Share: Debt dispute continues to simmer. The US Dollar could come under pressure, economists at Commerzbank report. No solution in the US debt dispute “As expected, the summit about raising the US debt ceiling did not result in an agreement. The FX market does not show any signs of nervousness in view of the approaching debt deadline.” “The longer it takes to find a resolution for the debt dispute, the more the sentiment in the US is likely to be affected by the suspense. As that would point more towards a further cooling of the economic momentum this…

USD/JPY ANALYSIS & TALKING POINTSJapan’s GDP report gives hawks hope.US debt ceiling dominates headlines and price action as markets yearn for more clarity.200-day MA under threat while ascending triangle breakout not far away. Recommended by Warren Venketas Get Your Free JPY Forecast JAPANESE YEN FUNDAMENTAL BACKDROPThe Japanese Yen looks to be heading for its 5th consecutive loss against the USD after last nights US debt ceiling negotiations showed some positivity but not enough to ease market concerns just yet. Investors remain in favor of the greenback as a safe haven currency as opposed to the yen. This preference was even…

CISO Global down 10%, prices $4M direct offering Source link

One of the reasons why many traders lack the accuracy needed to become consistently profitable is because many traders try to trade against the flow of the market. In other words, they are trading against the trend. Smart trend following traders on the other hand know that trading in the direction of the trend significantly increases the chances that the direction of the trade would be right. This is why the statement, “Trade with the trend…,” carry a lot of wisdom in it. Trend continuation strategies is a type of trend following strategy wherein traders trade in the direction of…

3/3 © Reuters. Firefighters work at a site of a vehicle parking area damaged by remains of Russian missiles, amid Russia’s attack on Ukraine, in Kyiv, Ukraine May 16, 2023. Pavlo Petrov/Press service of the State Emergency Service of Ukraine in Kyiv/Handout via REUTER 2/3 (Reuters) – Ukraine said on Tuesday that it downed six Russian hypersonic Kinzhal missiles in a single night, in what would be a major setback for Moscow’s efforts to develop an unstoppable next-generation weapon. It was not clear which air defense system Kyiv used to shoot down the missiles, but last week the U.S. military…

Reversal alert! If this correction level holds for EUR/AUD, the pair might complete a longer-term reversal chart pattern. Here’s what I’m seeing on the 4-hour time frame. EUR/AUD 4-hour Forex Chart by TV EUR/AUD is in the middle of a correction to an area of interest that’s been holding since last month. This is right around the 50% to 61.8% Fibonacci retracement levels, 1.6400 major psychological mark, and dynamic inflection points at the moving averages. Talk about confluence! If the former resistance-turned-support acts as a ceiling once more, price could resume its slide to this month’s lows and form a…

Bank of America on the US debt ceiling outlook:Should any X-date breach last a month or more and involve prioritization of debt payments it would mean immediately cutting spending by about 5% of GDPWhat this means is that:this would turn an otherwise mild recession into a severe recessionAnd the implication for the Federal Open Market Committee (FOMC):rate cuts could come as quickly as 3Q 23 Source link

Share: Natural Gas price remains sidelined after reversing from the highest levels in two months. Market sentiment improves as US policymakers raise hopes of avoiding default. Upbeat US data, hawkish Fed speak and fears of more XNG/USD output weigh on the commodity price. Risk catalysts are the key ahead of weekly EIA Natural Gas Storage Change. Natural Gas Price (XNG/USD) treads water around $2.50 amid Wednesday’s sluggish Asian session, after reversing from the highest levels since mid-March, as well as snapping a three-day uptrend, the previous day. The energy instrument previously dropped amid the broad US Dollar rebound…

peterspiro/iStock Editorial via Getty Images Update 7:20pm: Adds Clear Channel comment. Clear Channel Outdoor (NYSE:CCO) rose 3% in after hours trading as activist Legion Partners is pushing the billboard company to evaluate a sale of the entire company. Legion Partners, which has been an investor in the company since 2021, disclosed it has a 5.1% stake in Clear Channel Outdoor (CCO) and wants the company to speed up its strategic review, according to a 13D filing on Tuesday. Legion Partners wants Clear Channel Outdoor (CCO) to accelerate the sale process for Europe-North, begin the sales process for Latin America, consider…