Author: FX

The audit was performed by the European Court of Auditors (ECA) and highlighted quite a number of shortcomings with the ECB’s supervision and management. Here’s a list of that:ECB supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performersECB is inconsistent in applying rules and exercises leniency towards the highest-risk lenders while not always having adequate supervisory staffECB also takes too long in issuing final capital requirement decisions, leading to related risks being not managed in a timely mannerAlthough the recommendations and audit findings are non-binding, these are potential…

Looking for commodity setups to trade? I gotchu! Take a look at gold prices hanging out near a key trend support zone: Gold (XAU/USD) 4-hour Chart by TV If you’ve been watching gold prices for a while, then you’ll know that spot gold has been killing the U.S. dollar since mid-March when XAU/USD took off from the $1,810 levels. In fact, XAU/USD has been trading inside an observable ascending channel since late March. Can gold bugs keep the party going in the next few days? XAU/USD is approaching the $2,000 psychological handle that lines up with the 4-hour chart’s 100…

Wondering why this month’s FOMC statement was a huge deal? Here’s a quick rundown of what policymakers announced and what it means for the U.S. dollar, as well as the rest of the financial markets. As you’ve probably heard, Fed head Jerome Powell and his fellow FOMC members agreed to hike interest rates by 0.25% as expected. Their official statement and presser, however, had some hints about a shift in monetary policy bias. Event in Focus: Federal Open Market Committee (FOMC) Monetary Policy Statement on May 3, 2023 Expectations: Our Expectations Fed to raise its interest rates by 25 basis…

Share: GBP/USD Price Analysis: Cable bears need validation from 1.2500 and UK GDP to keep the reins GBP/USD seesaws around 1.2515 during early Friday morning in Asia, after posting the biggest daily fall since March 07. In doing so, the Cable pair justifies the downside break of a two-month-old ascending trend line, as well as bearish MACD signals. However, an upward-sloping trend line from late March, around 1.2500 round figure by the press time, joins the oversold RSI (14) line suggesting a corrective bounce in the GBP/USD price. Read more… GBP/USD licks BoE-inflicted wounds below 1.2540 hurdle ahead…

GBP/NZD is hitting the top of a key short-term resistance zone! Will today’s U.K. GDP release extend the pair’s downtrend? Before moving on, ICYMI, yesterday’s watchlist looked at GBP/USD testing a range support ahead of the BOE statement. Be sure to check out if it’s still a good play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: Bank of England raised the Bank Rate to 4.5% from 4.25% on Thursday as expected; Governor Andrew Bailey promised that the BOE “stay the course” as inflation falls more slowly than…

Crude Oil, WTI, US Dollar, US Jobs, US PPI, Fed, FOMC, EIA, SPR – Talking PointsCrude oil found some respite on Friday after falling over 2% overnightUS Jobs and PPI data led to market hopes of an easing in monetary policyIf the Fed does decide to tilt to be accommodative, will WTI rally? Recommended by Daniel McCarthy How to Trade Oil Crude oil is steady at the start of trade on Friday after retreating overnight with the US Dollar finding firmer footing with the market taking some positives from US data.Jobless claims were above estimates at 264k for last week…

kodda The Biden administration officially proposed new regulations Thursday that aim to drastically reduce greenhouse gases from existing and newly-built power plants, marking the first time the federal government has restricted carbon dioxide emissions from existing power plants, which generate ~25% of U.S. greenhouse gas pollution. The Environmental Protection Agency said its plan would cut carbon emissions from coal plants and new gas plants by 617M metric tons during 2028-42, the equivalent of reducing the annual emissions of 137M passenger vehicles. The plan would force the energy and power industries to quickly bring up to scale carbon- and methane-capturing technology…

US Dollar, DXY, Jobless Claims, Risk Aversion – Briefing: Recommended by Daniel Dubrovsky Get Your Free USD Forecast US Jobless Claims Creeped Higher as Sentiment SouredThe anti-risk US Dollar and Japanese Yen outperformed their major counterparts on Thursday as haven demand boosted their appeal. Meanwhile, the sentiment-linked Australian and New Zealand Dollars underperformed. The DXY Dollar Index gained 0.64% over the past 24 hours, clocking in the best day since March 15th.Last week, it was revealed that 264k jobless claims were filed in the United States. That was the highest outcome since October 2021, representing a 9% increase compared to…

© Reuters. FILE PHOTO: The QBE Insurance logo is seen on an office building in Melbourne February 28, 2011. REUTERS/Mick Tsikas (Reuters) – Australia’s QBE Insurance Group Ltd on Friday marginally hiked its gross written premium (GWP) growth forecast for fiscal 2023 after a strong start to the year for premium growth and on expected increases in premium rates. QBE, the country’s biggest insurer by market capitalisation, now expects growth of around 10% in its constant currency GWP in fiscal 2023, up from its prior forecast of mid-to-high single digit growth. Last year, QBE recorded GWP of $20.00 billion. QBE…

Was scheduled for Friday 12 May 2023, has been shuffled off to next week instead.Via White House statement. -Chatter is that staff-level negotiations that had been continuing were not at a point where it was right to bring progress to the leaders. The White House adds that staff-level discussions ongoing are a positive. LOL. Source link