Author: FX

USD/INR reverses from one-week high, snaps two-day uptrend. RBI Minutes defy hopes of pause in rate hikes amid inflation woes. Mixed US data, BOJ’s second unscheduled bond operation weighs on US Dollar. US Q3 GDP, PCE details will be important for immediate directions. USD/INR retreats from the weekly top, taking offers to refresh the intraday low near 82.77 during early Thursday, as the US Dollar reverses the previous day’s recovery amid mixed catalysts. Also adding strength to the Indian Rupee (INR) are the recently firmer Indian Treasury bond yields after the Reserve Bank of India’s (RBI) hawkish comments in the…

5/5 © Reuters. Ukraine’s President Volodymyr Zelenskiy visits Ukrainian service members at their position in the frontline town of Bakhmut, amid Russia’s attack on Ukraine, in Donetsk region, Ukraine December 20, 2022. Ukrainian Presidential Press Service/Handout via RE 2/5 By Steve Holland and Pavel Polityuk WASHINGTON/KYIV (Reuters) -President Volodymyr Zelenskiy, on his first wartime foreign visit, used an address to the U.S. Congress on Wednesday to warn that the Ukraine war will shape the world for generations and no country can hope to be safe if it stands aside. Seeking more U.S. support for Kyiv’s war effort, Zelenskiy, wearing his…

The Japanese government has rasied its Fiscal Year 2023 GDP growth forecast to 1.5%, citing higher wages, higher business investment from the 1.1% forecast last time around in JulyFor FY 2022 it’s a cut to 1.7%As for inflation, the overall CPI forecast for FY 2023 is 1.7% —Japan’s 2023 fiscal year begins on April 1. ADVERTISEMENT – CONTINUE READING BELOW Source link

EUR/USD dribbles inside a tight trading range surrounding 1.0600, picks up bids of late. Mixed comments from ECB officials, firmer US data teased bears the previous day. Optimism surrounding Germany recently helped buyers amid sluggish session. Final readings of US Q3 GDP, PCE details eyed for clear directions. EUR/USD makes rounds to 1.0600 during early Thursday, defending the weekly trading range of 90 pips, as traders await the US data for fresh impulse. In addition to the pre-data anxiety, the major currency pair’s latest inaction could be linked to the mixed catalysts from Eurozone and the US, not to forget…

Australian Dollar, AUD/USD, S&P 500, Early US Earnings, Sentiment – Asia Pacific Market Open Recommended by Daniel Dubrovsky How to Trade AUD/USD Asia-Pacific Market Briefing – Nike, FedEx Earnings, Consumer ConfidenceThe sentiment-linked Australian Dollar outperformed its major counterparts on Wednesday, benefiting from the cautious improvement in risk appetite. On Wall Street, the S&P 500, Dow Jones and Nasdaq 100 gained 1.49%, 1.6% and 1.54%, respectively. Meanwhile, the VIX market ‘fear gauge’ plunged to its lowest since late November. This is in line with fading volatility that tends to occur into the Christmas holiday.There were a couple of fundamental factors in…

Bolstered well-received quarterly updates from a couple of high-profile companies, stocks ended solidly in the green on Wednesday, with the S&P 500 rising 1.5%. The advance followed factional gains the day before, as Wall Street looks to regain its footing after the recent Federal Reserve-inspired decline. Earnings from Nike (NYSE:NKE) helped drive the rally. The stock posted a double-digit percentage gain following the release of Street-beating results. Caterpillar (CAT) was another big name that participated in Wednesday’s upswing. Shares built on the upward momentum it has experienced over the past two months, allowing the stock to set a new 52-week…

Akanda CEO Virk goes on paid leave Source link

Indices Talking Points:All of the S&P 500, Nasdaq 100 and Dow Jones ran into key supports to start this week and after indecision yesterday, a strong bounce developed today.While we’re late in the month of December and it’s been a hard road thus far, there does remain the possibility of a Santa Rally, particularly considering the prospect of window-dressing going into the end of 2022. The S&P 500 current all-time-high was set in the first week of 2022 trade, might a related dynamic be in play for 2023?The analysis contained in article relies on price action and chart formations. To…

The price of WTI crude oil futures for February delivery is closing up $2.06 or 2.68% at $78.29.The high price reached $78.46. The low price was at $75.82. Helping to push the price higher was the weekly oil inventory data which showed a drawdown of crude stocks of -5.894M barrels which was much higher than the -1.657M estimate. Gasoline stocks did rise however by 2.53M which was higher than the 2.140M estimate.There is a cold front sweeping across the US as well which has prices moving higher as well. Crude oil moved higher today help by inventory dataThe move to…

Looking for potential risk-off plays on the longer-term time frames? We’ve got you covered with these setups on GBP/CHF and META! Better keep close tabs on these potential inflection points: GBP/CHF: Daily Forex Chart Heads up for a potential turn back to the longer-term trend on GBP/CHF! After bouncing hard back in September from the 1.02 handle, GBP/CHF has been steadily consolidating through  October and November around 1.13. On the daily chart above, we can see that this area aligns with several technical signals that could be drawing in tactical sellers, including falling 100 and 200 simple moving averages, as…