Author: FX
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AUD/USD ANALYSIS & TALKING POINTSBetter than expected capital expenditure indicates positivity in building, plant machinery and private capital sectors.U.S. GDP in focus later today.AUD/USD seeking falling wedge breakout. Recommended by Warren Venketas Get Your Free AUD Forecast AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROPThe Australian dollar has clawed back some lost gains after yesterday’s U.S. dollar surge post-FOMC minutes. An almost expected hawkish slant to the minutes ensued with no mention of disinflation adding to a sustained tight monetary policy environment. Furthermore, some FOMC members opted for a 50bps interest rate hike which has seen an uptick in money market pricing for the…
US Stocks held lower but pause the decline, US Dollar spiked to 104,50 and Yields richened on short covering following the recent rout, but ended off of the day’s lows as FOMC minutes fail to provide fresh clues to alter expectations on the path. The 10-year was down 3.7 bps to 3.916%. FOMC minutes solidified views for further hikes and a higher funds rate through the year. Fed funds futures are suggesting some increased risk for a 50 bp increase at the March 21-22 meeting with the implied rate at 4.878%. May is showing a 5.132%…
Reuters are reporting that the number of Chinese households that decided against buying a home soared in the fourth quarter of 2022, a private survey showed, as COVID infections and lockdowns sapped sentiment, while property foreclosures soared as the economy slowed.Full NoteThe number of families opting to stay on the sidelines for property in the last quarter rose to 27.2% of respondents from 20.1% in July-October, the survey showed.The future is bright(er) though, as…16.6% of Chinese families had plans to buy a home in the coming three months, up from 7.0% in the July-October quarter.This story ties in nicely with…
Remember that range resistance play that we spotted a couple of days back? Well, U.S. crude oil (WTI) prices have indeed traded lower! Recall that WTI crude oil prices dropped from its 80.00 levels as traders priced in higher Fed interest rates and global growth concerns. WTI Crude Oil (USOIL) 4-hour Chart by TradingView Can the bearish momentum send WTI prices to the 73.00 handle? As you can see, 73.00 marks the bottom of a range support that hasn’t been invalidated since mid-December. A retest of the 73.00 zone would make it easier for commodity buyers to push WTI higher…
Both USD/CAD and SHIB/USD are consolidating inside triangle patterns on their longer-term charts. Are we about to see breakouts soon? USD/CAD Daily Forex Chart by TradingView This forex pair has formed lower highs and found support around the 1.3250 minor psychological mark, creating a descending triangle on its daily chart. Price is currently testing the resistance and might be thinking of breaking out soon, but what are technical indicators saying? Moving averages seem to be in favor of more gains, as the 100 SMA is above the 200 SMA to reflect bullish momentum. If an upside breakout happens, USD/CAD could…
Share: The index meets some initial resistance in the 104.50 region. FOMC Minutes noted some members favoured a 50 bps rate hike. Another revision of Q4 GDP, Initial Claims next on tap in the docket. The USD Index (DXY), which gauges the greenback vs. a basket of its main competitors, struggles for direction in the mid-104.00s on Thursday. USD Index looks to data, Fedspeak The upside momentum in the index appears to have met some initial resistance in the 104.50 zone so far this week. In the meantime, the cautious trade appears to prevail on Thursday ahead of…
Japan Markets closed. China -0.28%. Magnitude 7.1 earthquake on China western border. Hong Kong -0.39%. Australia -0.40%. Australian headline Q4 2022 capex +2.2% q/q (vs. expected +1.3%). Australian business investment hit a seven-year high in the fourth quarter of 2022, led by spending in the food and accommodation sector. India +0.15%. Overnight on Wall Street, the major stock indices are closing the day mixed (the Nasdaq closed modestly higher). The Dow fell -83.26 points or -0.25% at 33046.34; S&P index fell -6.08 points or -0.15% at 3991.27; NASDAQ index rose 14.78 points or 0.13% at 11507.08. The minutes showed that…
© Reuters. Head of Kherson regional military administration Oleksandr Prokudin poses for a picture during an interview with Reuters, amid Russia’s attack on Ukraine, in Kherson, Ukraine February 22, 2023. REUTERS/Rod Nickel By Rod Nickel KHERSON, Ukraine (Reuters) – Vladyslav Antoniuk felt euphoric three months ago when he returned to his home city Kherson, the day Ukrainian troops rolled back in and jubilant residents waved blue and yellow flags in the main square to celebrate. The recapture of the only regional capital Russia had seized during its invasion was the biggest triumph of Ukraine’s counter-offensive in the second half of…
US Dollar, DXY Index, USD, FOMC, USD/KRW, AUD/USD, China – Talking PointsUS Dollar weakened in Asia after a stellar run in the New York closeKorea left rates unchanged, while the Aussie Dollar got a boost on solid dataThe Fed reminded markets of their intention. Will it send USD higher? Recommended by Daniel McCarthy Traits of Successful Traders The US Dollar pulled back from overnight gains posted after the Federal Open Market Committee (FOMC) meeting minutes revealed a united board that supported the 25 basis point move at the gathering earlier monthThe minutes reinforced the notion that the Fed is determined…