Author: FX
USD/CAD picks up bids to refresh intraday high, extends bounce off 1.5-month low. Firmer RSI, looming bull cross on MACD keep buyers hopeful. 100-DMA appears crucial hurdle for the bulls to cross. Pullback remains elusive unless the quote stays beyond 1.3300. USD/CAD holds onto the week-start recovery from a six-week low as it crosses the monthly resistance line during early Tuesday, refreshing intraday high around 1.3415 by the press time. In doing so, the Loonie pair justifies the rebound from the 1.3300 round figure, as well as the recovery in the RSI (14) line. With this, the MACD also teases…
ICYMI, a Reuters report with further detail on the news from yesterday:Under strong political pressure to beat deflation, the BOJ signed a policy accord with the government in 2013 and committed to achieving 2% inflation “at the earliest date possible.”The Reuters report is here:Bank of Japan Governor Kuroda will be leaving the Bank in Aporil, policy change is thought to be afoot from then. Source link
Euro, EUR/USD, US Dollar, Fed, ECB, China PMI, AUD/USD. Crude Oil – Talking PointsEuro support eased as markets look toward rate changes this week.A strong Chinese PMI wasn’t enough to overcome weak local data for the AussieThe Fed, ECB and BoE are in the box seat this week. Where will EUR/USD end up? Recommended by Daniel McCarthy Get Your Free EUR Forecast The Euro is steady going into the European session today and is looking to notch up a fourth straight monthly gain after making a 20-year low last September.The US Dollar losing ground across the board has aided the…
Royal Dutch Shell PLC (SHEL.s), the UK/Dutch petrochemical-energy company founded in 1907 with a market capitalization of $210.48B, is expected to release its latest earnings report on Thursday 02 February. According to Zacks, Shell has risen 3.26% in the past month, underperforming its Oil-Energy sector and the US500 by 4.55% and 5.73% respectively. BPA Shell Fuente: Nasdaq Zacks positions Shell Rank #3 (Hold) in the Top 26% positioned #65/249 of the Oil and Gas industry Sector. An EPS of $2.10 is expected for this quarterly report marking a 27.27% year- over-year increase from $1.65 last year, with an ESP of 0.00%. EPS…
The Fed is up in a few trading sessions! Will the central bank’s policy decision extend spot gold’s short-term uptrend? In case you missed reading this week’s top economic events to watch out for, the FOMC is expected to raise its interest rates by another 25 basis points to 4.75%. But everyone and their momma already knew that. Spot Gold (XAU/USD) 1-Hour Chart by TradingView All the drama will come from Jerome Powell’s presser where the Fed Chairman will do his best to communicate that a slowdown in rate hikes DOES. NOT. MEAN. PIVOTING. If Powell succeeds in communicating the…
© Reuters. A view of the city skyline in Singapore December 31, 2020. REUTERS/Edgar Su/Files SINGAPORE (Reuters) – International Monetary Fund’s chief economist said on Tuesday that Singapore and other Southeast Asian economies are seeing downgrades to their 2023 growth outlooks because slowing global growth will outweigh the positive impact from China’s economic reopening. Pierre-Olivier Gourinchas told a news briefing on the IMF’s latest global growth forecasts these forces prompted the IMF to reduce Singapore’s GDP growth outlook for 2023 to 1.5% from a 2.3% forecast issued last October. (Reporting Xinghui Kok; Writing by David Lawder; Editing by Tom Hogue)…
The Wall Street Journal (gated) with the report.In brief, the Journal citing ‘people familiar’:The Biden administration is considering entirely cutting off Chinese telecommunications giant Huawei Technologies Co. from U.S. suppliers over national-security concerns by tightening export controls targeting the firmThe background to this is that Huawei was placed on the US Department of Commerce’s “Entity List” during the previous administration. The list is of foreign companies said to be national security threats. Huawei was later supplied technology by US firms under licences issued by the Commerce Department. Supply was permitted as long as it wouldn’t put national security at risk.…
USD/JPY bulls eye a 50% mean reversion towards 130.30 that meets the prior support. The outlook is bearish for the day ahead with a test of 130.00 eyed ahead of the Federal Reserve on Wednesday. USD/JPY is under pressure in Tokyo but the bulls are moving in from a support area as the following charts will illustrate. Meanwhile, the US Dollar rose on Monday, ahead of the Federal Reserve’s two-day policy meeting which is likely to keep traders at bay and USD/JPY range bound until the outcome of the meeting. Nevertheless, the market structure is as follows: USD/JPY H1 charts The…
Australian Dollar, AUD/USD, China PMI, Retail Sales, Credit, CPI, RBA – Talking PointsThe Australian Dollar inched north on improving Chinese PMIAUD/USD had been under pressure post soft retail sales and credit dataTuesday next week will see the RBA decide on rates. Will it impact AUD/USD? Recommended by Daniel McCarthy Get Your Free AUD Forecast The Australian Dollar recalibrated after Chinese PMI showed signs of an economic recovery which followed domestic data that revealed an easing of conditions.Chinese manufacturing PMI for December printed in line with expectations at 50.1 and the non-manufacturing read came in at 54.4, way above the 52.0…
S&P 500, Nasdaq 100, US Dollar, Event Risk and FOMC Rate Decision Talking Points:The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 132.00Risk trends shuddered to start this trading week, but the turn from the S&P 500 and the edging higher from a Dollar in a very tight range is likely misleadingAnticipation for the FOMC rate decision Wednesday is likely forcing the market to ease excess exposure, but intent for trend likely awaits clarity from this key event Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast We are in a vortex of anticipation with…