Author: FX
Data released on Wednesday in Canada showed the annual inflation rate dropped from 6.9% to 6.8%. Analysts at CIBC, point out that inflation is easing but is a slower progress than what probably the Bank of Canada was hoping for. Key Quotes: “The 6.8% headlinethanual rate was only a tick lower than the prior month and slightly above the consensus expectation (6.7%). Of greater concern to policymakers, however, is that the easing in core measures of inflation (including CPI-trim, median and ex food/energy) appears to have stalled at levels still above those that would be consistent with a 2% inflation target.…
Gold Talking Points:Gold prices are fast approaching last week’s high and if bulls can force a break, we will be looking at fresh five-month-highs for Gold prices.There is some considerable resistance sitting overhead, however, and with USD already in a weakened state the question remains for how long might that breakout be able to run should those levels come into play.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section. Recommended by James Stanley Get Your Free Gold Forecast The year started with…
Virtus WMC International Dividend ETF declares quarterly distribution of $0.1577 Source link
© Reuters. Workday (WDAY) announces ‘surprising’ management changes By Sam Boughedda Workday (NASDAQ:) announced after the close on Tuesday that it has appointed Carl Eschenbach as co-CEO, effective immediately. The company said in a statement that Eschenbach would remain on the Workday Board of Directors, which he has been a member of since 2018, and will serve as co-CEO alongside Aneel Bhusri, Workday’s co-CEO, co-founder, and chair, through January 2024, Workday’s fiscal year-end. In addition, Chano Fernandez has stepped down as co-CEO and as a member of the company’s board, effective immediately. Following the announcement, Citi analysts said: “As part of…
The year continues to wind down but there’s some important economic data to set the stage for 2023 coming up today.First up at the bottom of the hour is the Canadian November CPI report and US current account data. The Canadian numbers are expected to show inflation flat in the month in an important sign of progress for the BOC. Current pricing shows a 41% chance of a BOC hike on Jan 25 with the remainder pricing no change.The highlight on the US economic calendar is at 10 am ET with December consumer confidence, which is expected to bump up…
If you look at the line-up of traders in Wall Street trading firms, you’re likely to find more than a handful of former Division I athletes on the floor. Some companies, like SMB Capital (I’m sure you’ve heard of them!) have even been rumored to favor former athletes. What’s the connection between being an athlete and trading? I believe it has everything to do with the qualities and the mindset that these individuals have. Here are five traits that I think successful traders share with elite athletes: 1. They are competitive Top athletes are highly competitive by nature, and with this mindset…
The Canadian Dollar can’t hold sub-1.36 gains against the USD. Economists at Scotiabank look for more range-trading in the short-term at least. Shorter-term price signals are mixed for USD/CAD “A weak (technically bearish) close for the USD yesterday should – on the face of it – lend more weight to pressuring support around 1.36 but intraday price action suggests a firm floor and, possibly, a bullish reversal developing around the overnight failure to extend much below the figure area once again.” “Support is 1.3590/00.” “Resistance is 1.3665/75.” Source link
USD/CAD Key Points: Recommended by Zain Vawda Get Your Free USD Forecast MOST READ: Canadian Dollar Price Action Setups: USD/CAD, CAD/JPY, EUR/CADUSD/CAD FUNDAMENTAL OUTLOOKUSD/CAD attracted buyers below the 1.3600 handle with the support area around 1.3580 holding firm. The Canadian retail sales data were positive for October with growth of 1.4% while the advanced estimate for November hinted at a further economic slowdown ahead of 2023.Retail Sales Breakdown for October MoMSource: Statistics CanadaYesterday’s advanced data out of Canada (November estimate) provided a further sign of an economic slowdown as Canadian retail sales decreased 0.5% in November. Statistics Canada was keen…
TECO 2030 finalizes €5M agreement in HyEkoTank Project Source link
There are two strategies that are at the opposite sides of the spectrum – trend following strategies and mean reversal strategies. The two strategies seem like exact opposites. Trend following pertains to looking for markets that are trending in a certain direction and trading in the direction of the trend. Mean reversal strategies on the other hand is about looking for markets that are either overbought or oversold and trading against the current direction with the belief that price would soon revert back to its mean. Trend following strategies tend to produce high probability trade setups because traders are often…