Author: FX

What you need to take care of on Thursday, January 5: The US Dollar changed course on Wednesday and edged sharply lower across the FX board. However, Source link

Sean Hannon/iStock via Getty Images SM Energy (NYSE:SM) -6.2% in Wednesday’s trading after J.P. Morgan downgraded shares to Neutral from Overweight with a $46 price target, cut from $55, citing higher oilfield services costs and initial signs of a deterioration in well production that likely will lower the company’s capital efficiency. JPM analyst Zach Parham estimates SM’s (SM) 2023 oil production will come in at 64.4K bbl/day, 5% below Wall Street consensus, and recent messaging indicates the company is experiencing 20% Y/Y cost inflation, which pushes his expected 2023 capex budget to $1.11B, 8% above the Street. While SM Energy…

© Reuters By Yasin Ebrahim Investing.com – Federal Reserve policymakers agreed that a sustained period of restrictive policy would be needed to cool “unacceptably high” inflation, according to the minutes of the Fed’s December meeting released on Wednesday.  “Participants generally observed that maintaining a restrictive policy stance for a sustained period until inflation is clearly on a path toward 2 percent is appropriate from a risk-management perspective,” the Fed’s minutes showed.  At the conclusion of its previous meeting on Dec. 14, the Federal Open Market Committee raised its benchmark by 0.5% to a range of 4.25% to 4.5%. Members viewed that a higher…

Candidate for House majority speaker Kevin McCarthy is seeing his hopes for the job dwindle. A fourth vote is ongoing for House speaker and he’s already lost more than the 5 votes he can afford to sacrifice. What’s worse is that one of the people who previously voted for him — Victoria Spartz — has changed her vote to ‘present’. Republicans tried for a recess today but Democrats wouldn’t allow it.Momentum is crucial in these votes and if the dissidents feel they can win, they might choose to send a message rather than negotiate.speaker odds on PredictItBefore yesterday’s vote, McCarthy…

USD/CHF failed to crack above 0.9400, exacerbating a fall beneath 0.9300. US Dollar weakness and the confluence of technical levels around 0.9370s stalled the USD/CHF rally. A daily close above 0.9250 could lift the USD/CHF back again, towards 0.9300. The USD/CHF struggles to clear the 0.9370 barrier, dives below the 20-day Exponential Moving Average (EMA), and the 0.9300 figure as the US Dollar (USD) weakens. The USD/CHF is trading at 0.9279, below its opening price by 0.80%. USD/CHF Price Analysis: Technical outlook After reaching a weekly high at around 0.9398 on Wednesday, the USD/CHF shifted gears and snapped three days…

photobyphm/iStock Editorial via Getty Images Verizon (NYSE:VZ) shares added more than 2% in early trading on Wednesday as the company’s chief executive said the telecom giant added subscribers in its fourth-quarter and would cut its spending plans for 2023 amid the weak global economy. Speaking at an investment conference held by Citi, Verizon (VZ) CEO Hans Vestberg said the firm added subscribers on a net basis in the fourth-quarter. He added the health of the consumer was still “good” and that store traffic had improved. In October, Verizon (VZ) said it added just 8,000 postpaid phone subscribers during the third-quarter,…

5/5 © Reuters. Ski centre on mountain Jahorina is seen in Sarajevo, Bosnia and Herzegovina January 4, 2023. REUTERS/Kirsten Donovan 2/5 By Matthias Williams and Kate Abnett LONDON/BRUSSELS (Reuters) – Record-high winter temperatures swept across parts of Europe over the new year, bringing calls from activists for faster action against climate change while offering short-term respite to governments struggling with high gas prices. Hundreds of sites have seen temperature records smashed in the past days, from Switzerland to Poland to Hungary, which registered its warmest Christmas Eve in Budapest and saw temperatures climb to 18.9 degrees Celsius (66.02°F) on Jan…

The USDIndex is up from session lows under 104, but at 104.07 still down on the day as EGBs and Treasuries rally and gold is back in favor. Bunds outperformed during the European AM, after weaker than expected inflation numbers out of Germany and France, but despite this EURUSD managed to climb above the 1.06 mark. Cable is trading at 1.2053. Click here to access our Economic Calendar Stuart Cowell Head Market Analyst Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing…

The major indices are opening higher but off their premarket futures implied levels:Dow Industrial Average is up 61 points or 0.19% at 33202S&P index is up 12.5 points or 0.33% at 3836.55NASDAQ index is up 25 points or 0.24% at 10412Russell 2000 is up 10.59 points or 0.6% at 1761.32Shares of Apple which fell sharply yesterday or up $1.33 or 1.05% at $126.40. Tesla shares are also higher but only by about $0.30 at $108.40.ADVERTISEMENT – CONTINUE READING BELOW Source link

In all my years of trading and talking to fellow currency traders, I’ve noticed that newbie traders are susceptible to four main psychological pitfalls. Hopefully, after reading this, you will be able to see them coming and stop them before they destroy your account. Let’s take a look at each one and examine them carefully. 1. The desire to be rich The desire to be rich manifests itself in many ways. The main ways are fear and greed and they inevitably lead to other problems. If you think about it the majority of the issues newbies have stem from the…