Author: FX
The major US stock indices are opening the day lower. The NASDAQ index is leading the way to the downside.The indices are looking to close out the worst year since 2008 today.A snapshot of the market currently shows:Dow Industrial Average -163.46 points or 0.49% at 33057.35S&P index -25.86 points or -0.67% at 3823.41NASDAQ index -105.19 points or -1.00% at 10372.89Russell 2000-14.70 points or -0.83% at 1751.54in the US debt market, yields are higher:2 year 4.409%, +4.2 basis points5 year 3.997% +5.4 basis points10 year 3.869% +5.1 basis points30 year 3.955% +5.2 basis pointsADVERTISEMENT – CONTINUE READING BELOW Source link
Is US or Eurozone monetary policy restrictive, or will it become restrictive? Analysts at Natixis look if the two conditions for monetary policy to become restrictive are met. Conditions for monetary policy to become restrictive “For monetary policy to be restrictive: The real interest rate (calculated with core inflation or with the GDP deflator) must be higher than potential growth; Mortgage rates must be higher than the per capita wage growth rate.” “In the US, the real long-term interest rate is still well below potential growth, but the mortgage rate is higher than nominal wage growth. It is normal to…
Strategists at HSBC remain neutral on Gold and Silver as they see muted momentum. Higher rates and real bond yields create a competitive disadvantage for Gold “Despite the recent bounce in commodity prices, we do not expect Gold and Silver to outperform in the coming months.” “USD’s recent strength has weighed on metals, while higher rates and real bond yields create a competitive disadvantage for Gold compared to cash and bonds.” See – Gold Price Forecast: XAU/USD to rebound slightly next year as Fed easing starts – ING Source link
The strongest to weakness of the major currenciesTo start the last trading session in 2022, the JPY is the strongest of the major currencies while the GBP is the weakest. The USD is mixed. The JPY has restarted its upward bias after correcting from the December 19 low. The price peaked near the swing lows from December 13 and 14th at the end of the day on Wednesday and into the early Asian session yesterday (see chart below). The USDJPY moved back below the 200 hour moving average and the 100 hour moving average (green and blue lines). Stay below…
© Reuters. Binance Adds Apple Pay and Google Pay Options for Credit/Debit Card Payments Binance recently added Google (NASDAQ:) Pay and Apple (NASDAQ:) Pay for cryptocurrency purchases. Users must verify their identity before using the new payment option. Binance complies with global stipulations of anti-money laundering and terrorism finance with the new update. Changpeng Zhao reiterated the cryptocurrency exchange’s compliance with international regulations in a letter. Binance recently announced in its Build update that users of the exchange can now purchase cryptocurrency through Google Pay and Apple Pay. .tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweetmin-height:261px.tweet-containerposition:relativeblockquote.twitter-tweetdisplay:flex;max-width:550px;margin-top:10px;margin-bottom:10pxblockquote.twitter-tweet pfont:20px -apple-system,BlinkMacSystemFont,”Segoe UI”,Roboto,Helvetica,Arial,sans-serif.tweet-container div:first-child position:absolute!Important .tweet-container div:last-child position:relative!Important #Binance users can…
The Euro appreciates for the second consecutive day to reach fresh three-month highs at 0.8875. The Pound losses ground weighed by grim UK economic perspectives and hopes of a slower BoE tightening. EUR/GBP appreciates about 5.5% in 2022 with the Sterling hit by the UK’s political drama. The Euro finally managed to pierce the 0.8860 resistance area on Friday, extending its rebound from session lows at 0.8820 to fresh three-month highs at 0.8870 so far. The common currency is taking advantage of a moderately weak Sterling on a sluggish pre-holiday session. The pair has shrugged off the mild risk aversion…
Economists at Deutsche Bank expect mild US and European recessions in the first half of 2023 with growth then picking up. China to register significantly more dynamic growth in the year ahead “We are expecting a mild recession overall in the Eurozone at the turn of the year. With recovery starting in the second quarter, economic growth for the full year 2023 is likely to be 0.3%. The main risk factor remains energy, coupled with a possible shortage of gas in winter 2023/2024.” “If inflation rates continue to decline and there is no need for robust Fed intervention, the US…
– Reviewed by Nick Cawley, October 5, 2022The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. As a result, the ISM manufacturing, construction and services indicators can provide unique opportunities for forex traders, which makes understanding this data (and how to prepare for its monthly release) essential. Talking points:What is ISM?How ISM impacts currenciesHow forex traders use ISM dataWhat is ISM?The Institute for Supply Management (ISM) measures the economic activity from both the manufacturing side as well as the service side. Monthly ISM data releases include key information such as changes…
Sure, keeping score of your stats is awesome. But numbers are just gonna be numbers and they don’t really tell the whole story. If you’ve already caught yourself thinking that you’re doing something wrong over and over again but you don’t know what it is, maybe it’s time you start a psychological journal too! You know how the market has tendencies? Well, in the same way that it tends to react to market events and environments in certain ways, individual traders also have repetitive reactions and behavioral tendencies. However, we often overlook them and how they may be affecting our…
USD/CNY hovers around the 6.95 level. Economists at ANZ Bank expect the pair to edge lower next year towards 6.65. Recovery in China’s growth reduces the need for further PBoC’s easing “Although it will be a bumpy road ahead as China reopens, at least the shift in the narrative from overwhelmingly negative in 2022 towards a more hopeful tone for 2023 will help prompt inflows and encourage exporters’ conversion of accumulated dollar receipts. A recovery in China’s growth reduces the need for further People’s Bank of China easing as well.” “We do not foresee a rapid rebound in outbound Chinese…