Author: FX
Share: AUD/USD finished the week with losses, on a sentiment shift, and speculations for an aggressive Federal Reserve. During the last week, US inflation data sponsored a recovery for the greenback as US Treasury bond yields aimed north. AUD/USD are eyeing the busy economic calendar in Australia and the US next week. The Australian dollar (AUD) finished the week on a lower note, after hitting a daily high of 0.6884, dropped on a risk-off impulse, as Wall Street ended the session with losses between 0.26% and 0.58%, while the Dow Jones was the outlier, finishing 0.39% above its…
S&P 500, Dollar, EURUSD and Macro Economic Event Risk Talking Points:The Market Perspective: EURUSD Bearish Below 1.08; USDJPY Bullish Above 133; Dow Bearish Below 33,200The global capital markets were showing an unusual amount of volatility before an extended holiday weekend (in the US), but the technical picture was less than convincingTop event risk ahead includes: February PMIs; the RBNZ rate decision and the Fed’s favorite inflation indicator (PCE deflator) Recommended by John Kicklighter Trading Forex News: The Strategy ‘Is this a break or not?’ I ask this question of markets often and there are two answers that you can generally…
U.S. data and headlines dominated this week, particularly the highly anticipated inflation updates that were hawkish for the U.S. Dollar. But it was the euro that took the top spot this week, likely benefiting from continued expectations that the ECB will stay aggressive on tightening interest rates as recession may be avoided in Europe. Notable News & Economic Updates: Expectations of Kazuo Ueda replacing BOJ Gov. Kuroda sank the yen on Monday Crypto firm Paxos to face SEC charges, ordered to stop minting Binance stablecoin Oil headlines: U.S. government announced plans to release 26M oil barrels from Strategic Petroleum Reserve…
NiseriN/iStock via Getty Images Guyana’s government plans to take back 20% of the Stabroek offshore oil block that has been responsible for a series of massive discoveries from an Exxon Mobil-led (NYSE:XOM) group and remarket it by next year, VP Bharrat Jagdeo told Reuters on Friday. The consortium has missed investment deadlines for portions of the block not under exploration or development, Jagdeo reportedly said, and under terms of the license, Exxon (XOM) must relinquish a minimum of 20% of the contract area not retained under a exploration or production license. The company and its Stabroek partners have said they…
The NY session started the session with USD as a solid leader when ranked vs the major currencies. It was up 0.37% vs the GBP and as high as 0.80% vs the NZD. Those gains were eroded in the morning session and is ending the day with declines of -0.44% vs the GBP, -0.27% vs the EUR and although still higher on the day vs the NZD, it is only by 0.13% (vs 0.80% at the start).Below is a ranking of the strongest to the weakest. The cumulative changes of the USD vs the majors is negative on the day…
© Reuters. FILE PHOTO: A company logo is pictured at the headquarters of Germany’s Commerzbank AG in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski/File Photo FRANKFURT (Reuters) – Germany’s Commerzbank (ETR:) will rejoin the on Feb. 27, Deutsche Boerse (ETR:) announced late on Friday, marking a comeback for Germany’s No. 2 lender after it was removed from the club of blue-chip companies in 2018. The return to the index comes after Commerzbank launched a major overhaul two years ago that saw thousands of job cuts and branch closures that restored profitability. “This shows that we are on the right track…
<p>The major US <a href="https://www.forexlive.com/terms/i/indices/" class="terms__secondary-term" id="eb50e0fb-8258-4e43-80e6-8831246f8b37" target="_blank">indices</a> are closing mixed for the day and mixed for the week.</p><p>For the trading day:</p><ul><li>Dow Industrial Average rose 129.84 points or 0.39% at 33826.70</li><li>S&P index fell 11.32 points or -0.28% at 4079.10</li><li>NASDAQ index fell -68.55 points or -0.58% at 11787.28</li><li>Russell 2000 rose 4.144 points or 0.21% at 1946.35</li></ul><p>For the trading week:</p><ul><li>Dow Industrial Average closed down -0.13%</li><li>S&P index closed lower by -0.28%</li><li><a href="https://www.forexlive.com/terms/n/nasdaq/" class="terms__main-term" id="73ea5227-7971-4d75-a878-f20ede81c27e" target="_blank">NASDAQ</a> index was able to eke out a 0.59% gain</li><li>Russell 2000 was the biggest gainer with a 1.435% increase</li></ul><p>Looking at the Dow 30, the five biggest gainers for the…
USDCHF failed on the break higher todayThe USDCHF USD/CHF The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, The USD/CHF is the…
EURUSD tests the 100 hour MAYou can expect some profit taking into the weekend in this area. The 200 hour MA is up at 1.0708 and it would take a move above that level, to increase the bullish bias. Recall from yesterday, the price stalled against the 200 hour moving average increasing the levels importance going forward.Safe it to say, we will be going into the weekend with the price near the MA levels as the market ponders in the new week, whether the dollar moves higher (back down for the EURUSD) or lower (higher for the EURUSD). This area…
Share: The EUR/JPY is registering gains of 2.22% in the week after facing solid resistance around 143.60. EUR/JPY Price Analysis: In consolidation within a 130 pip range circa the 143.00 psychological barriers. The EUR/JPY hit a fresh weekly high at 143.67 but reversed some of those gains, resting comfortably above Thursday’s high ahead of the weekend. Therefore, the EUR/JPY exchanges hands at 143.40 after dropping to a low of 142.91. EUR/JPY began the week at around the 200-day Exponential Moving Average (EMA) at 140.32 before rallying sharply towards the 142.38 Tuesday high. Since that day, the EUR/JPY consolidated…