Author: FX

BRENT CRUDE OIL (LCOc1) ANALYSIS & TALKING POINTSCrude oil prices dismissive of higher stockpiles.Higher demand projections driving crude oil but USD rebound may limit upside potential.Bear flag remains in focus but a long way to go before we see breakout potential. Recommended by Warren Venketas Get Your Free Oil Forecast BRENT CRUDE OIL FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Brent crude oil is tracking higher this Thursday despite a large stockpile in the U.S. as reflected by the weekly API and EIA…

Missed the upside breakout on Walt Disney shares? This pullback might be your chance to catch the longer-term reversal! Check out the correction levels I’m watching. Walt Disney Co (DIS): Daily Walt Disney Company (DIS) Daily Chart by TradingView This company’s stock price recently busted through a descending trend line on the daily time frame. Does this mean a happily ever after for bulls? Before the reversal gains traction, a retest of the former resistance zone might be in order, and the handy-dandy Fib tool shows where more buyers might be waiting. The 38.2% retracement level seems to be holding…

Eurostoxx +0.6%Germany DAX +0.6%France CAC 40 +0.9%UK FTSE +0.5%Spain IBEX +0.5%There is no stopping the run in European stocks since the turn of the year, as even the period of turbulence in the past two weeks didn’t feel much like. The mood today is helped as US futures are also slightly higher, with S&P 500 futures and Nasdaq futures up 0.1% while Dow futures are flat. Source link

Bitcoin and ETH (D1) Bitcoin it looks like is waking up. After several days of gloom and doom, and after a timid dip below $22,000 yesterday, the price frankly intensified its upward run, until it marked a high of $24,867, its highest level since mid-August 2022. Currently sitting at the $24585K level, BTCUSD is up about 11.4% over 24 hours and 7.3% over a week. As for Ethereum, it is up 9% at $1682. No specific catalyst seems to be able to be defined to justify this rise in the so-called risk assets. However, several analysts have pointed to recent…

A big beat for US Retail Sales, lifted the USD, Treasury Yields and global stock markets, with a raft of “soft landing” scenarios swirling and even talk of a “no landing”, a situation where inflation cools quickly, the economy grows steadily and unemployment remains low without having a knock-on effect for inflation. A real disparity in views now emerging. Goldman Sachs cut the chance of a US recession in the next 12 months to 25%, from 35%; US 2yr/10yr yield curve at -87bp as the 10yr hits a 7-week high.  Overnight: Japan reported it’s largest ever trade deficit at $174 billion…

Share: In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD risks further retracements in the short term. Key Quotes 24-hour view: “The sharp drop in GBP to 1.1990 yesterday came as a surprise (we were expecting GBP to range trade). Not surprisingly, the sharp and rapid drop is oversold. However, as long as 1.2100 (minor resistance is at 1.2065) is not breached, GBP could continue to decline. That said, a break of the major support at 1.1960 is unlikely today.” Next 1-3 weeks: “Our latest narrative was from two…

L'Air Liquide S.A. GAAP EPS of €4.94, revenue of €23.34B Source link

Who’s up for buying fiat currencies today? If you are, then you better not miss EUR/USD’s uptrend and GBP/CAD triangle pattern support retests. Don’t even think of missing these setups! GBP/CAD 4-hour Forex Chart by TradingView First up is GBP/CAD consolidating inside a descending triangle on the 4-hour time frame. See the pair is back to retesting its 1.6100 support after a recent rejection at 1.6300. Bulls who are confident that the consolidation will lead to GBP/CAD extending the uptrend it started in late September can take advantage of the return to 1.6100 and trade a possible move to the…

Gold, XAU/USD, Retail Sales, IGCS, Technical Analysis – Briefing:Gold prices are heading for the worst month since June 2021Retail traders boosted long bets on Wednesday, a bearish signXAU/USD confirmed a breakout under a key moving average Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Gold prices sank about 1 percent on Wednesday, with the precious metal closing at its lowest since the end of last year. Markets digested a better-than-expected US retail sales print, which followed a hotter-than-anticipated CPI report on the previous day. Both events helped drive up the US Dollar, which tends to inversely track XAU/USD.The anti-fiat…

4/4 © Reuters. FILE PHOTO: The 3M Global Headquarters in Maplewood, Minnesota, U.S. is photographed on March 4, 2020. REUTERS/Nicholas Pfosi/File Photo 2/4 By Christoph Steitz and Ludwig Burger FRANKFURT (Reuters) – Activist investors are renewing their years-long efforts to break up some of Germany’s most venerable companies, seeing streamlining as a promising route to reviving share prices as Europe’s top economy emerges from the energy crisis. This week Brenntag, founded in 1874 as an egg trader in Berlin, became the latest target of investors, who called for the chemicals distributor to spin off its specialties unit. Bayer (OTC:), Fresenius…