Author: FX
EUR/USD sticks to its mildly positive tone and reacts little to the mixed US macro data. Hawkish Fed expectations continue to act as a tailwind for the USD and cap the upside. The recent range-bound price action warrants caution before placing directional bets. The EUR/USD pair holds ccomfortably above the 1.0600 round-figure mark through the early North American session and moves little in reaction to the mixed US macro data. The US Bureau of Economic Analysis reported that the Personal Consumption Expenditure (PCE) Price Index rose a modest 0.1% in November, missing expectations for a reading of 0.3%. The slight…
Durable Goods Orders in the US fell more than expected in November. US Dollar Index stays in daily range below 104.50 after the data. Durable Goods Orders in the US declined by 2.1%, or $5.8 billion, in November to $270.6 billion, the US Census Bureau announced on Friday. This reading followed October’s increase of 0.7% and came in worse than the market expectation for a decrease of 0.6%. “Excluding transportation, new orders increased 0.2%,” the publication further read. “Excluding defense, new orders decreased 2.6%. Transportation equipment, down following three consecutive monthly increases, drove the decrease, $6.1 billion or 6.3% to…
Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, declined to 5.5% on a yearly basis in November from 6.1% Source link
AUD/USD ANALYSIS & TALKING POINTSTug of war between Chinese and U.S. factors dictate AUD price action.Thinning liquidity reflective in AUD/USD as markets await fundamental catalyst. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe pro-growth Australian dollar is in a consolidatory phase of recent being pushed and pulled by external global factors. Primary drivers have been Chinese optimism around stimulating economic growth in 2023 (boosting commodity prices) as well a fluctuating USD based on U.S. economic data. Markets may be slightly overreacting to global ‘risk on’ sentiment considering the worsening COVID situation in China potential exposing…
The US dollar is softer after yesterday’s drama but the week isn’t over yet. We get some top tier data to wind it down as stats agencies rush out the numbers so they can enjoy the Christmas-New Years’ period.That’s left the calendar flush today starting at the bottom of the hour with:US Nov PCEUS durable goods ordersCanadian GDPThen at 10 am ET:UMich final consumer sentimentNew home salesThe main headlines will be PCE inflation but personal spending will also be notable.ADVERTISEMENT – CONTINUE READING BELOW Source link
One reason why you might have trouble making changes in trading habits is that you’re simply not ready for them. You might THINK that you’re ready for change, but you’re more likely just pressured into making them by the fancy planners and journals you see on your social feed. Successfully making changes requires discipline and repetition and you won’t get either if you’re only half-hearted about changing your habits. This is why the first thing you should do is to check how ready you are for changes. A couple of decades ago, two well-known alcohol researchers, Carlo C. DiClemente and J.…
USD/ZAR Key Points: Recommended by Zain Vawda Get Your Free USD Forecast MOST READ: USD/ZAR Rallies as SA President Ramaphosa Faces Potential ImpeachmentUSD/ZAR FUNDAMENTAL OUTLOOKIf we are to learn anything from USD/ZAR price action over the past month it would undoubtedly be that the South African Rand remains driven by the political situation prevalent in the country. We have been subject to some interesting price swings of late following the release of the ‘Phala Phala report’ as well as in the build-up to the ANC elective conference. This week the ZAR is well on its way to posting 5 consecutive…
NZD/USD stages a goodish rebound from over a three-week low amid renewed USD selling bias. A modest recovery in the risk sentiment weighs on the buck and benefits the risk-sensitive Kiwi. Hawkish Fed expectations, rising US bond yields might help limit the USD losses and cap the pair. Investors might also refrain from placing aggressive bets and prefer to wait for the US PCE data. The NZD/USD pair gains some positive traction on Friday and snaps a four-day losing streak to over a three-week low, around the 0.6230 area touched the previous day. The pair sticks to its intraday gains…
KEY POINTS: Recommended by Zain Vawda Get Your Free Oil Forecast Most Read: Crude Oil Forecast: WTI Breakout Extends on Chinese Optimism & Weaker USDWTI FUNDAMENTAL OUTLOOKCrude Oil rallied higher this morning on the back of a pause yesterday following a rise in the US dollar and renewed concerns around China. The US dollar benefitted following another batch of positive US data further strengthened the case for further monetary tightening.Overnight concerns around China began to resurface with the Asian nation being the largest consumer and importer of crude oil. The announcement surrounding the relaxation of China’s Covid protocol has been…
Valneva stock rises as it seeks FDA approval of single-shot chikungunya vaccine Source link