Author: FX
Anyone up for short-term trades today? I’m seeing this simple trend pullback on AUD/NZD, plus a potential triangle breakout on the S&P 500 index. Better keep your eyes on these levels! AUD/NZD 1-hour Forex Chart from TradingView Here’s one for the trend traders out there! AUD/NZD has been cruising with higher lows connected by a rising trend line that’s been holding since mid-December. Another test of support seems to be in the cards, as the pair is stalling just below the 1.0900 major psychological mark. Applying the handy-dandy Fib tool shows that the 38.2% to 50% levels are near the…
Snippet commentary from JP Morgan on the US benchmark S&P500 index.We believe the market is approaching a bifurcation, at which point stocks risk seeing a more accelerated leg of the bear market that is associated with falling earnings expectations and break in correlation from interest ratesWe ultimately expect a H1 2023 bear market bottom. The realised inflation trajectory into early 2023 and the nature in which the forward rate curve reshapes to it will likely dictate the timing and level of the low. At the positive end of the risk spectrum … rapidly falling inflation data leads to further expectations…
European Central Bank (ECB) Governing Council member and French central bank governor Francois Villeroy de Galhau said late Thursday, “it would be desirable to reach the right ‘terminal rate’ by next summer, but it is too early to say at what level.” “We need to be pragmatic and guided by observed data, including underlying inflation, without fetishism for increases that are too mechanical,” Villeroy added. Market reaction EUR/USD was last seen trading at 1.0532, up 0.14% on the day. Source link
© Reuters. FILE PHOTO: Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS SHANGHAI (Reuters) -Tesla cut prices for all versions of its Model 3 and Model Y vehicles in China by up to 13.5%, according to its Chinese website on Friday, after its December deliveries of China-made cars fell to the lowest point in five months. The U.S. automaker reduced the prices for the models by 6% to 13.5%, according to Reuters calculations based on the prices shown on the website.…
<p>Model 3 starting price to 229,900 yuan</p><ul><li>Model Y 259,900</li></ul><p>No further details apart form the headline at this stage. </p> This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Justin Sullivan/Getty Images News PG&E (NYSE:PCG) said late Thursday it has restored power to more than 406K customers in northern and central California following a series powerful winter storms with hurricane-force winds that damaged electric equipment and caused numerous power outages. The company said ~2,300 outages remain, affecting 95K customers, many in the North Coast, Bay Area and Central Coast areas. California is bracing for additional storms over the next week, which the company said likely will affect restoration times and lead to additional widespread outages. More than five inches of rain could fall across a large part of California…
Citing Hans Hendrischke, professor of Chinese Business and Management at the University of Sydney, Bloomberg reported that China could ease its trade restrictions on imports of Australian wine, lobsters and other commodities following earlier reports that Beijing has ended a partial ban on imports of coal from Canberra. more to come … Source link
CACI International (NYSE:CACI) said Thursday it was awarded a five-year contract by the Defense Counterintelligence and Security Agency to provide background investigation fieldwork services, valued at $2.25B.The DCSA is responsible for conducting more than 2M background investigations annually on civilian and military applicants and federal employees or employees of government contractors and consultants.Under this enterprise technology contract, more than 1,000 of CACI’s (CACI) background investigators will conduct initial investigations and periodic reinvestigations nationwide.Morgan Stanley downgraded CACI International (CACI) earlier this week, saying the defense technology company is poised to benefit from increased federal spending on cybersecurity. Source link
US Dollar, DXY, S&P 500, Treasury Yields, ADP Data – Asia Pacific Market OpenUS Dollar and Treasury yields soar, S&P 500 sinks on ADP reportThe rosy data sets a high expectation for Friday’s non-farm payrollsThe DXY Dollar Index is increasingly showing signs of reversing Recommended by Daniel Dubrovsky Get Your Free USD Forecast Asia-Pacific Market Briefing – ADP Employment Report Sets High Expectations for NFPsThe US Dollar outperformed its major counterparts on Thursday, with the DXY Dollar Index gaining 0.85 percent. If the currency maintains its position, the US Dollar will be heading for its best week since the middle…
zimmytws SPAC Fortune Rise Acquisition Corp. (NASDAQ:FRLA) has signed a non-binding letter of intent to merge with water fintech Water On Demand, a subsidiary of OriginClear (OTCPK:OCLN). In late December, Water On Demand announced it had closed on an acquisition of equity interests in the SPAC’s backer, Fortune Rise Sponsor. The SPAC went public in November 2021, raising $85M. FRLA had been slated to merge with digital assets company VCV Digital Technologies through a deal that estimated the enterprise value of the combined company at $294M. The companies mutually terminated the deal in July. Source link