Author: FX
Could GBP/USD drop towards the 1.2050 level? Looking at GBPUSD’s chart, we can see that the FX pair is dropped to the current rate of around $1.2188, reaching a new low for the week. At $1.2180 we expect a technical reaction as that level is the support level of the forex pair, but if it fails to hold above that level, then it could drop towards its next support level which is located at around $1.2050. Read more… GBP/USD rebounds from 50 DMA support, climbs back above mid-1.2200s ahead of US NFP The GBP/USD pair finds decent support near the 50-day…
EUR/USD Price and AnalysisEUR/USD ticks up on better growth dataThe European Central Bank’s Thursday rate rise was as expected and didn’t offer much supportUS Data will be in focus as the session goes on Recommended by David Cottle How to Trade EUR/USD The Euro managed modest gains against the US Dollar on Friday, helped in part by news that the Eurozone economy managed some growth last month.The S&P Global’s Composite Purchasing Managers Index for the currency bloc climbed to a seven-month high of 50.3 in January. That was above both December’s 49.3 and a preliminary reading of 50.2. The figure…
Avantor Non-GAAP EPS of $0.32 beats by $0.02, revenue of $1.8B beats by $10M Source link
WTI PRICE, CHARTS and ANALYSIS: Recommended by Zain Vawda Get Your Free Oil Forecast WTI FUNDAMENTAL OUTLOOKCrude Oil has had a difficult week despite broad-based US Dollar weakness for the majority of the week. WTI hit a fresh three-week low yesterday and remains on course for a second week of losses as sanctions on Russian oil products loom.There have been a host of factors that could be attributed to the decline in oil prices this week. Oil inventories in the US rose to their highest level since June 2021 with the Energy Information Administration also showing an increase in inventories…
<ul><li>We will decide subsequently how many more will be needed</li><li>March rate hike won't bring us to peak of interest rates yet</li><li>The battle against inflation is far from won</li></ul><p style="" class="text-align-justify">The pushback continues following Šimkus' earlier remarks <a href="https://www.forexlive.com/centralbank/ecbs-imkus-march-rate-hike-may-not-be-the-last-050-move-20230203/" target="_blank" rel="follow">here</a>.</p> This article was written by Justin Low at www.forexlive.com. Source link
GOLD ANALYSIS & OUTLOOKMarkets respectful of Fed’s hawkish language, USD bid.NFP and ISM Non-Manufacturing data in focus later today.XAU/USD daily close key for near term directional bias. Recommended by Warren Venketas Get Your Free Gold Forecast XAU/USD FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Gold prices fell yesterday after the U.S. dollar rebounded post-ECB and stronger than expected initial jobless claims data. The jobs market is becoming increasingly more important to the overall Federal Reserve picture as inflation continues to soften. The robust…
“Assumed” CB Dovish Tone VS Big Tech Disappointment The ECB hiked rates and signaled another 50 bps in March, and more after that. The BoE also increased rates 50 bps but in a split 7-2 vote. A positive productivity report was good news for the Fed outlook, though jobless claims continued to show a tight labor market. Expectations that central banks are nearing the end of rate hikes supported massive rallies in bonds and stocks. Signs that inflation pressures are softening added to the gains. Stocks & Bonds surged, Yields dove sharply – Investors were…
The Bank of England (BoE) hiked its key rate by 50 bps to 4%, but it softened its communication notably. Sterling came under strong selling pressure following the event. Economists at Commerzbank expect further GBP weakness. BoE signals rate hikes will end soon “It became clear that the BoE is quite close to the end of its rate hike cycle.” “The impression suggests itself that the BoE might have hit the communication break a little too soon, as inflation is in double digits, and it will yet have to be seen whether it eases that quickly after all. The labour…
Parex Resources raises dividend by 50% to $0.375 Source link
I’ve got another bunch of pullback opportunities on today’s canvas! Check out these trend correction levels on AUD/JPY and USD/CHF. USD/CHF 1-hour Forex Chart by TradingView First up is this simple downtrend pullback on the hourly chart of USD/CHF. Any chance to catch this selloff? The pair has been cruising inside a descending channel with its lower highs and lower lows since the start of the year, and it looks like another test of resistance is due. Using the handy-dandy Fib tool shows that the 50% level is near the mid-channel area of interest at .9175 while the 61.8% retracement…