Author: FX

The clock ticks toward the end of day, the major US indices are also ticking lower.The Dow Industrial Average is down 73 points or -0.21% at 33856S&P index is down -30.0 points or 0.72% at 4106.38. The 4100 level is a key level or short-term bias in the S&PNASDAQ index is down -136.90 points or -1.14% at 11869.82Russell 2000 is down -31.6 points or -1.59% at 1953.77US yields remain elevated and near highs for the day:2 year 4.447%, +14.6 basis points5 year 3.812% +14.7 basis points10 year 3.632% +10.0 basis points30 year 3.669% +4.2 basis points Source link

Share: Western Texas Intermediate recovers some ground even though the US Dollar remains buoyant. IEA’s Director commented that China’s reopening would drive oil prices. WTI Technical Analysis: Triple bottom looms around $72.50. US crude oil benchmark known as Western Texas Intermediate (WTI) records minimal gains after diving toward an eight-week low at $72.30 per barrel on Monday, exchanging hands at around $73.96 per barrel, capped by a strong US Dollar (USD) across the board. Wall Street’s extended its losses on Monday due to market participants repricing a less dovish Federal Reserve (Fed) as expected. Money market futures estimates…

Spirit AeroSystems Q4 2022 Earnings Preview Source link

Illuvium Goes Above and Beyond with Illuvitars NFT Collection Decentralized gaming studio Illuvium has announced its latest ecosystem expansion, Illuvium: Beyond. Illuvium: Beyond will feature a customizable NFT collection called Illuvitars, scheduled for launch in early March with help from Binance, ImmutableX, and Chainlink. Illuvium, popular for its flagship open-world MMORPG Overworld, is expanding its ecosystem by introducing Illuvitars, a customizable collection of profile picture NFTs, in Illuvium Beyond. Illuvium’s newest expansion will leverage Binance’s platform, Chainlink’s VRF technology, and ImmutableX’s scaling solutions for the experience. Moreover, Binance and Illuvium offer various rewards to collectors until the official mint on…

Goldman Sachs Goldman Sachs Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment banking and its role in many high-profile financial deals. On the other hand, it has faced criticism and controversy over the years, including accusations of unethical business practices and con Goldman Sachs is a multinational investment bank and financial services company headquartered in New York…

Share: The Market Participants Survey for the fourth quarter of 2022 published by the Bank of Canada (BOC) showed on Monday that the median of responses for the policy rate by end-2023 stood at 4%, forecasting a 50 bps cut. The median forecast for the real Gross Domestic Product (GDP) points to a fall of 0.4% in 2023 and an expansion of 2% in 2024. Market reaction USD/CAD retreated from the weekly high it set at 1.3475 earlier in the session after this report and was last seen trading at 1.3445, where it was up 0.35% on the…

SinanAyhan While the broader market indices (COMP.IND), (SP500), and (DJI) have rallied to kick off the 2023 trading year, UBS says that market conditions are not yet in place for a sustained rally. Still, the financial institution believes that Wall Street will hit an inflection point during 2023. UBS noted that previous rallies in this cycle have been brief and argued that a turn to a longer-term upswing will require a shift in Federal Reserve policy. “Central banks do appear to be nearing the end of tightening cycles. But policymakers have yet to signal a dovish pivot,” UBS said in…

There isn’t anything market moving on the economic calendar today and no speeches from Fed policymakers. Later, we’ll get the RBA decision but the North American schedule is light.It’s a good thing too because Wed-Fri was a wild run of central bank decisions followed by a non-farm payrolls report and ISM services data that rewrote the script and then flipped it. Is a less-hawkish FOMC still in play? The terminal rate is now priced at 5.08%, up from 4.93% early last week.But does another hike really matter if a hard landing is off the table? At this point, even a…

Share: US Dollar clings to last week’s recovery gains on the back of the impressive January jobs report on Friday. Economists at Commerzbank expect the greenback to remain on a solid foot. Gleanings from the US labour market report “Instead of the 200K jobs created expected by analysts it turned out to be approx. 500K, instead of a rise in the unemployment rate to 3.6% we saw a fall to 3.4%. Combined with the recent rise in the number of job vacancies this provides an image of a US labor market that is heavily overheating.” “So far –…

The end of the first trading month is as good a time as any to pay close attention to your forex trading resolutions. Were you able to stick to them? If you weren’t, don’t fret. It’s all part of the process of change after all. What most people tend to overlook in goal setting is that there is a process to making changes; most goals aren’t achieved overnight. It is a period when you try to replace patterns of behavior that are already embedded in your daily habits with positive new ones. Making a change is never smooth, so there will…