Author: FX
Well, it’s not like the numbers matter anyway but if anything else, the end of China’s zero-Covid policy is very much a neat bookend to the whole pandemic over the past three years. The disease has been downgraded by China authorities from top-level Category A to Category B i.e. “only requiring necessary treatment and measures to curb the spread”.ADVERTISEMENT – CONTINUE READING BELOW Source link
Gold price extends previous gains above $1,800. Will XAU/USD recapture $1,825 heading into 2023? FXStreet’s Dhwani Mehta analyzes the pair’s technical picture. Bulls to target resistance at $1,825 “The path of least resistance for Gold price appears to the upside amid a bunch of healthy support levels. The immediate support awaits at $1,791. Daily closing below the latter will confirm the downside break from the triangle, negating the ongoing bullish momentum. The next downside cap is seen at the mildly bearish 200 Daily Moving Average (DMA) at $1,782. Further south, the dashed horizontal support at $1,773 will be probed.” “Gold…
Japan +0.21%. Japan’s November unemployment rate was 2.5%, in line with expectations from analysts polled by Reuters. Japan’s retail sales grew 2.6% in November, marking the ninth month of growth, according to data released by the Ministry of Economy, Trade and Industry. China +0.83%. China’s total profits of industrial enterprises for January to November fell further to -3.6% compared with a year ago, according to data from the National Bureau of Statistics. China to hold Covid press briefing at 3 p.m. local time. The measures, released late Monday, also said China would scrap quarantine for inbound travelers as of Jan.…
© Reuters. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won/File Photo By Rae Wee SINGAPORE (Reuters) – The dollar moved broadly lower on Tuesday, while Australia’s and New Zealand’s currencies climbed with a rise in risk appetite after China said it would scrap its COVID-19 quarantine rule for inbound travellers – a major step in reopening its borders. The New Zealand dollar surged more than 0.5% in early Asia trade and was last 0.28% higher at $0.6288, while the gained 0.27% to $0.6750 in mostly thin trading…
AUD/USD retreats from intraday high but stays positive for the second consecutive day. China Industrial Profits drop 3.6% during January-November period, easing Covid restrictions keep sentiment positive. Mixed US data weighs on hawkish Fed bets, US Dollar during holiday-thinned markets. AUD/USD pares intraday gains around 0.6750 during Tuesday’s sluggish morning in Europe. In doing so, the Aussie pair takes clues from the recently flashed downbeat China data. However, cautious optimism in the market joins the receding hawkish bias from the Federal Reserve (Fed) to keep the pair buyers hopeful. China’s Industrial Profits dropped 3.6% during the January-November period versus -3.0%…
© Reuters. FILE PHOTO: Vietnam’s State Bank building is seen in Hanoi, Vietnam March 16, 2020. REUTERS/Kham HANOI (Reuters) – Vietnam’s central bank said on Tuesday it will manage monetary policy in a flexible way to keep inflation at 4.5% next year. Lending by Vietnamese banks rose 12.87% as of Dec. 21 from the end of last year, the State Bank of Vietnam said in a statement. Source link
WTI picks up bids to refresh three-week high. Bullish MACD signals, clear break of previous resistance line favor buyers. Descending resistance line from June, 100-EMA challenge further upside. WTI crude oil buyers keep the reins as they poke the 50-Exponential Moving Average (EMA) to refresh a three-week high around $80.90 during early Tuesday. In doing so, the energy benchmark justifies the previous week’s upside break of a descending resistance line from November 07, as well as the bullish MACD signals. As a result, the black gold is likely to overcome the immediate EMA hurdle surrounding $80.80, which in turn will…
U.S. energy equities weathered the bear market like champs in 2022! So, will we get more of the same in 2023? What’s been driving the rally and what are the risks to it in the upcoming year? Energy Select Setor SPDR ETF (XLE) Energy Select Sector SPDR ETF (XLE) by TradingView With another likely slow week ahead of the new year, we’re taking another look at a potential longer-term setup, this time in Energy Select Sector SPDR ETF (XLE). This is an exchange traded fund with holdings in companies across the U.S. energy sector like Exxon Mobil Corp., Chevron Corp.,…
3/3 © Reuters. Smoke rises from apartment buildings damaged from missile strikes, as Russia’s attack on Ukraine continues, during intense shelling on Christmas Day at the frontline in Bakhmut, Ukraine, December 25, 2022. REUTERS/Clodagh Kilcoyne 2/3 By Pavel Polityuk KYIV (Reuters) -A drone believed to be Ukrainian penetrated hundreds of kilometers through Russian airspace, causing a deadly explosion at the main base for Moscow’s strategic bombers in the latest attack to expose gaps in its air defences. Moscow on Monday said it had shot the drone down causing it to crash at the Engels air base, where three service members…
This is a big policy change from China, a major step toward fully reopening travel with the rest of the world.Currently, arriving passengers must quarantine for five days at a hotelthen followed by three days at homedown from a full 3 week quarantine periodChina’s National Health Commission announced on Monday that there would be no more quarantine requirement. people arriving in China will still need a negative virus test 48 hours before departurepassengers will be required to wear protective masks on boardADVERTISEMENT – CONTINUE READING BELOW Source link