Author: FX
(Reuters) – Forces from Russia’s Wagner Group on Wednesday found the body of one of two British voluntary aid workers reported missing in eastern Ukraine, the private military firm said in a statement. It did not mention the name of the dead man but said documents belonging to both Britons had been found on his body. A photo posted alongside the statement appeared to show passports bearing the names of Andrew Bagshaw and Christopher Parry, the two missing workers. Ukrainian police said on Monday they were looking for the pair who went missing in east Ukraine, the scene of heavy…
The New Zealand Dollar failed to gain traction despite a risk-on impulse. US Dollar remains soft amidst growing speculations for a soft US CPI print. China’s reopening could bolster the NZD outlook in the near term. The NZD/USD prints successive series of doji’s, suggesting that neither buyers nor sellers are in charge, ahead of Thursday’s US Consumer Price Index (CPI) release. Hence, the NZD/USD is trading at 0.6374 above its opening price after hitting a daily high of 0.6388. Wall Street is set to finish the session with solid gains between 0.56% and 1.24%. The NZD/USD remains in choppy trading as…
Bank of America Global Research provides a recap of FX in 2022 through the lens of time zone analysis. For this exercise, BofA split a 24-hour day into 3 different time zones: Asian hours from midnight GMT to 8am GMT, European hours from 8am GMT to 1pm GMT, and American (US) hours from 1pm GMT to midnight GMT. BofA then calculated the cumulative return of the year for each time zone.”Through 2022, Europe-based investors built a large inventory of long USD positions, which have likely not yet been fully capitulated. With the Fed inching close to terminal federal funds rate,…
While below 0.6950, the bias for AUD/USD is to the downside for the near term. A break of 0.6870 will open the risk of a move into the 0.6800 figure and the targetted area between 0.6791 and 0.6748. US Dollar is also poised for a move higher as per the daily M-formation. Despite hot domestic economic data that reinforced the case for further increases in interest rates from the Reserve Bank of Australia, AUD/USD has failed to hold onto the knee-jerk gains. At the time of writing, AUD/USD is treading water at 0.69 the figure. The pair has moved between a range…
CPI Talking Points: Recommended by James Stanley Get Your Free USD Forecast While Friday’s NFP report was a mixed bag, the PMI report that followed was not. Services PMI printed at its lowest level since March of 2020 and in contractionary territory. This is sign of continued impact from the Fed’s rate hikes last year and with that data point coming in so far below expectations, (49.6 v/s 55 expected), and the response that followed, market participants are building hope that stacking signs of slowdown may compel the Fed into a less-hawkish position.Markets seemed to shrug off Powell’s re-commitment to…
Nuveen Global High Income Fund decreases monthly dividend by -8.4% to $0.1035 /share Source link
© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant//File Photo By Arathy Somasekhar HOUSTON (Reuters) – stocks built unexpectedly last week, the Energy Information Administration said, as refiners were slow to restore production after a cold freeze that shut operations. Crude inventories rose by 19 million barrels in the week ended Jan. 6 to 439.6 million barrels. Analysts polled by Reuters had expected a 2.2 million-barrel drop. It was the largest weekly build since February 2021, and the third-largest…
<p>The market is pricing a 76% chance of a 50 bps hike from the ECB on Feb 2. That's dipped from earlier this week.</p><p>In any case, the euro is having itself a nice day, rising 30 pips to 1.0765 and near a session high.</p> This article was written by Adam Button at www.forexlive.com. Source link
US Stock Market and US500 – 2023 Outlook The Fed’s monetary tightening in an effort to curb soaring inflation and the resultant recession risk have not been friendly to the stock market in 2022. The US500 has undergone its worst year in more than a decade, with the first double-digit percentage annual loss (-38.4%) since the Great Recession in 2008. According to the Conference Board, the US real GDP growth for the coming 2023 is predicted to be 0% (vs 1.5% in 2022). This is seen as a pessimistic outlook as the figure is much lower than the predicted figure…
AUD/USD remains well within the striking distance of its highest level since late August. Economists at Société Générale believe that the pair could reach the mid-0.70s. Scope for bearish rate surprises is limited for now “The RBA is still dragging its feet and the monetary/fiscal policy mix isn’t helpful, but the rates market is only pricing another 75 bps of hikes from here, so scope for bearish rate surprises is limited for now.” “We dream of AUD/USD trading in the 0.80s but while that may be too much, the mid-0.70s are within reach.” Source link