Author: FX
Global growth has generally proven more resilient than expected even as central banks have been working overtime, hiking rates at a record clip to try to slow the demand side of the equation and rein in inflation. And while there has been some success in slowing price pressures on a y/y basis, rates still remain well above the 2% target. Those dynamics have kept monetary policy on a tightening path and will continue to do so into Q2. However, the pace of hikes, between 25 bps and 50 bps, is up for debate as policymakers weigh the cumulative effects of…
European Indices: FTSE, DAX Analysis Recommended by Richard Snow Get Your Free Equities Forecast DAX (Germany 40) Stalls at Recent HighThe DAX appeared rather unperturbed after positive PMI data yesterday in the run up to the 1 year anniversary of the Russia-Ukraine conflict. A definite rise in geopolitical tensions across the globe has also weighed heavily on risk sentiment as China and the US point fingers at each other over the ‘balloon’ saga and Russia sends out a warning as Putin suspends important nuclear treaty. North Korea also plans to carry out intercontinental ballistic missile tests in response to planned…
G0d4ather/iStock via Getty Images After outperforming the major averages in a dismal 2022, hedge funds are off to a “strong start” to 2023, according to UBS, citing the industry’s performance during January. The firm reported that hedge funds in general saw a total return of 2.8% in January, compared to 6.3% for the S&P 500 index. That means that the group seized approximately 44% of the U.S. equity upside and were broadly even with US bonds during the month. To put this in context, hedge funds generally saw a 4.1% drop in 2022, compared to a 23.9% decline for the…
© Reuters. Philip Morris International (PM) reaffirms its 2023 full-year reported diluted EPS forecast Philip Morris International Inc.’s (NYSE:I) (PM) Chief Financial Officer, Emmanuel Babeau, will address investors today at the 2023 Consumer Analyst Group of New York (CAGNY) Conference. The event will be webcast live in listen-only mode, beginning at approximately 11:00 a.m. ET, at www.pmi.com/2023cagny and on the PMI Investor Relations Mobile Application (accessible on iOS or Android devices). Presentation slides will also be available on the same site and the App. An archived copy of the webcast will be available until 5:00 p.m. ET on Thursday, March…
Investors implore a “wait & see” approach as FOMC minutes and Core PCE inflation data loom in the final half of the week. Dollar Midway through the week and the Dollar finds itself hovering just below a 15-day high, while investors eagerly await the FOMC minutes due on Wednesday afternoon. Factors driving the Dollar’s recent performance against its peers can be attributed to upbeat US data in the form of PMI data as well as the benefits of the safe-haven appeal the currency has amid the geopolitical uncertainties that have characterised the last two weeks. Chief among those is the…
Back in 1969 when my buddies and I were still vibing to The Beatles’ Hey Jude, management trainer, Martin Broadwell, talked about the “four levels of teaching” to describe the work that needs to be done to learn a skill. Broadwell discussed teaching but his ideas about competence levels became popular in psychology and self-development circles. What are these “levels of competence” and can they be applied to your forex trading journey? Level 1: Unconscious incompetence It may sound like a fancy insult, but this just means that you don’t know yet how unknowledgeable you are about the subject. You’ve probably heard…
GBP/USD – Prices, Charts, and AnalysisUK data are supportive of the British Pound.FOMC minutes are released later in the session. Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: British Pound (GBP) Latest – GBP/USD Slumps, a Victim of US Dollar StrengthThe British Pound is trading on either side of 1.2100 against the US dollar, buoyed by better-than-expected data this week. While the US dollar is also strong, supported by rising US Treasury yields, Sterling is making gains against its counterpart across the Atlantic and…
China’s Wang is on the wires after his meeting with President Putin: Perhaps most notably (well, it’s certainly the headline the squawks were keenest on).. “We Are Ready To Deepen Strategic Cooperation With Russia”Headlines – OUR RELATIONS WILL NOT SUCCUMB TO PRESSURE FROM THIRD COUNTRIESWE ARE READY TO DEEPEN STRATEGIC COOPERATION WITH RUSSIAOUR RELATIONS ARE NOT DIRECTED AT ANY THIRD COUNTRYOTHER COUNTRIES CANNOT PUT PRESSURE ON OUR RELATIONSWE ARE READY TO DEEPEN OUR STRATEGIC PARTNERSHIP Source link
Share: NZD/USD struggles near monthly low despite a hawkish RBNZ rate hike on Wednesday. The prospects for further policy tightening by the Fed underpins the USD and caps gains. Recession fears also benefit the buck and act as a headwind for the risk-sensitive Kiwi. Traders now await the release of the FOMC meeting minutes before placing fresh bets. The NZD/USD pair struggles to capitalize on its modest intraday uptick and attracts fresh sellers in the vicinity of mid-0.6200s on Wednesday. The pair is currently placed just a few pips above the 0.6200 mark, or its lowest level since…
EUR/USD PRICE, CHARTS AND ANALYSIS:READ MORE: Euro Steadied the Ship Ahead of CPI as Treasury Yields Leap. Lower EUR/USD? Recommended by Zain Vawda Get Your Free EUR Forecast EUR/USD FUNDAMENTAL OUTLOOKEURUSD posted modest gains in the Asian session testing a key level of support turned resistance around the 1.06650 handle. The Euro has since struggled to hold onto gains against the greenback with rising geopolitical tensions seemingly keeping the Euro bulls at bay.Yesterday’s data out of the Eurozone showed further improvement with flash PMIs beating estimates in the service sector while manufacturing was marginally down. The Zew sentiment survey reflected…