Author: FX
EURUSD tests 200 hour MA ahead of the US CPI dataThe EURUSD has moved higher in the Asian/European session today and in the process moved up to test a key technical level ahead of the key CPI data at the bottom of the hour.The US CPI’s expected rise by 0.5% versus 0.1% last month. The Core CPI is expected to rise by 0.4% versus 0.4% last month. Technically looking at the hourly chart, yesterday the pair closed near its 100 hour moving average after trading most of the US session above and below that moving average level (see blue line…
Share: EUR’s rebound extends through low-1.07s. However, economists at Scotiabank do not expect the EUR/USD pair to extend its race higher. Resistance should be firm at 1.0790/00 “We are not fully convinced the EUR rebound has staying power. Risk reversal pricing suggests markets bets are tilting towards renewed weakness in the near term, with 1m EUR risk reversal pricing slipping to -0.89%, reflecting relative higher demand for EUR puts over calls.” “Trend signals are not aligned in a way that gives me confidence that the rally can extend much more at the moment and spot may simply be…
Most of global indices in green ahead of U.S. inflation data Source link
EUR/USD Price, Chart, and AnalysisEuro Area growth estimates are in line with forecasts.US CPI is the next macro driver of note. Recommended by Nick Cawley Trading Forex News: The Strategy Most Read: US Bond Yields Rally Further Ahead of a Major US Inflation ReportIn the fourth quarter of 2022, seasonally adjusted GDP increased by 0.1% in the Euro Area and remained stable in the EU, compared with the previous quarter. In the third quarter of 2022, GDP grew by 0.3% in both the Euro Area and the EU, according to the official release published by Eurostat, the statistical office of…
© Reuters. NATO Secretary General Jens Stoltenberg holds a news conference ahead of a two day meeting of the alliance’s defence ministers, in Brussels, Belgium February 13, 2023. REUTERS/Johanna Geron By Sabine Siebold and Bart H. Meijer BRUSSELS (Reuters) – Western countries need to boost ammunition supplies to Ukraine as Russia escalates its war effort before the first anniversary of the Feb. 24 invasion, NATO military alliance chief Jens Stoltenberg said on Tuesday. “We see no signs that (Russian) President (Vladimir) Putin is preparing for peace. What we see is the opposite, he is preparing for more war, for new…
Financial statements are summaries of important financial accounting data regarding your company. The three primary forms of financial statements are the balance sheet, cash flow statement and income statement.Together, they paint a clear picture of your company’s financial situation for you and other investors.We’ll discuss the functions of these three fundamental financial statements and how they all fit together to provide you with a comprehensive view of your company’s financial situation.Balance SheetA balance sheet is a statement of finance that lists the liabilities and assets of a corporation at a certain point in time. One of the three primary financial…
Share: According to Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, USD/JPY is expected to keep trading within 130.00 and 133.00for the time being. Key Quotes 24-hour view: “While we expected USD to strengthen yesterday, we were of the view that ‘a sustained rise above 132.20 is unlikely’. The anticipated USD strength exceeded our expectations as USD soared to a high of 132.91 before pulling back to end the day at 132.40 (+0.75%). The pullback amid overbought conditions suggests USD is unlikely to advance much further. Today, USD is more likely to trade sideways,…
Markets have prepped for Tuesday’s CPI report over the last several sessions, while also pricing in a more hawkish FOMC stance going into Q2. Stocks high, Tresauries mixed and US Dollar sagged. Shorter dated Treasuries underperformed and were in the red most of the day as a “higher for longer” Fed stance was more fully priced in. Gains in Microsoft, Apple, and Meta helped boost tech Nasdaq. Microsoft +3.12%, pushing its market cap over $2 trillion, Meta +3.03% after the Financial Times reported that Meta is planning another round of layoffs. Tesla -1.14% FX –…
It looks like the trend is still our friend on this one, fellas! Will buyers keep defending this support zone on the Nasdaq 100 index? Nasdaq 100 (NDX): 1-hour Nasdaq 100 (NDX) 1-hour Chart by TradingView Check out this area of interest holdin’ like a boss on the hourly time frame! Not only does it line up with a short-term rising trend line that’s been holding since the start of the year, but it also coincides neatly with the 100 SMA dynamic inflection point. What are technical indicators saying? The 100 SMA is safely above the 200 SMA, confirming that…
UK EMPLOYMENT DATA KEY POINTS: Recommended by Zain Vawda Get Your Free GBP Forecast READ MORE: UK GDP Data in Line with Estimates, GBP/USD SteadyThe UK unemployment rate remained unchanged for the 3 months to December 2022, in line with expectations. The number of people unemployed for up to six months increased, driven by people aged 16 to 24 years. The number of people in work in the UK rose by 74K in the three months to December, well-above market forecasts of a 40K increase and following a 27K rise in the previous month. Meanwhile, in November 2022 to January…