Author: FX

Bouncing back from recent weakness, the major U.S. equity averages surged on Thursday, led by a gain of more than 2.5% in the Nasdaq. This came ahead of the final trading session of the year, leading into a three-day holiday weekend. Electric vehicle stocks were among the winners during the session. This included rallies in niche players like Hyzon Motors (HYZN), Polestar (PSNY), Mullen Automotive (MULN), Rivian Automotive (RIVN) and Lucid Group (LCID) Chubb (CB) benefited from the general market strength, adding to its recent momentum and setting a fresh 52-week high. At the same time, TG Therapeutics (TGTX) expanded…

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The confluence of the 20 and 100-day EMAs, around 85.00, capped the NZD/JPY rally. A bearish harami candle chart pattern in the NZD/JPY daily chart could exacerbate a fall toward 82.50. NZD/JPY: To face solid support around the 200-day EMA, which, once it gives way, further downside is expected. The NZD/JPY continued its downtrend after plummeting more than 300 pips following the Bank of Japan (BoJ) adjustment of its Yield Curve Control (YCC) on the 10-year JGB to 0.50%, which bolstered appetite for the Japanese Yen (JPY) to the detriment of most G8 currencies. At the time of writing, the…

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Eamonn Sheridan Thursday, 29/12/2022 | 22:24 GMT-0 29/12/2022 | 22:24 GMT-0 I’d put some of these in the ‘shock’ basket rather than surprise basket.#6 caught my eye, its probably not the most shocking but something new from the Bank of Japan in 2023 is pretty much consensus now (isn’t it?).Anyway, surprises are good – nothing like a bit of financial market volatility Volatility In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing…

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Boarding1Now/iStock Editorial via Getty Images Mesa Air Group (NASDAQ:MESA) stock rose sharply after the bell on Thursday after posting stronger than expected Q4 revenue. For the fourth quarter, the Phoenix-based airline notched $125.6M in revenue, exceeding estimates by $1.41M. An adjusted per share loss of $0.37, meanwhile, came in $0.11 wider than expected. The airline had previously delayed its report, from which point a new agreement with United Airlines (UAL) was announced to replace a prior cooperation agreement with American Airlines (AAL). “Building on our relationship with United Airlines that began in 1992, we are delighted to announce our new…

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Eamonn Sheridan Thursday, 29/12/2022 | 21:42 GMT-0 29/12/2022 | 21:42 GMT-0 As China has exited its ‘zero’ policy cases have skyrocketed. While widespread lockdowns are a thing of the past self-imposed isolation and illness have seen impacts on the Chinese economy as workers stay home and others (at the margin) avoid going out and about. A media report (Caixin in China) is encouraging:A China-developed Covid-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020.  The first cases of Covid-19 were reported in Wuhan, China in late 2019.…

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Nasdaq 100, Dow, VIX, Dollar, USDCNH, Inflation and Recession Talking Points:The Market Perspective: Bearish Risk Trends; Bearish Dollar; Recession ProofingWith December and 2022 coming to a close, it is a good time to review very high time frame charts (monthlies) which can give scope to macro themesThis article reviews the Nasdaq-Dow ratio, VIX volatility index, Dollar Index, ‘2-10 spread’, USDCNH and wheat futures Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast When it comes to charts, the higher time frames can offer useful insight on macro themes. Big picture financial trends, growth or recession patterns, turning points…

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Gold price holds to gains above $1,800 amidst thin liquidity conditions. The US labor market appears to ease as Initial Jobless Claims increase. Global central banks increased their holdings of Gold in Q3 by close to 400 metric tons. Gold Price Analysis: Hold above $1,800, eyeing June’s high of $1,879.45. Gold Price advances after hitting a daily low of $1,803.30, gaining 0.83% during the North American session bolstered by falling US bond yields, which weakened the US Dollar (USD). Meanwhile, investors’ sentiment improved even though China relaxing Covid-19 policy keeps the health system pressured. At the time of writing, the…

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