Author: FX
The Pound Sterling (GBP) is retreating after hitting a seven-month high at 1.2447, though it lacked the strength to hold to the 1.2400 figure and is meandering in the 1.2380s area. At the time of writing, the GBP/USD exchanges hands at 1.2375, below its opening price by a minimal margin. Read More… GBP/USD struggles to defend the 1.2400 threshold during a five-day uptrend to Monday’s European session, after rising to the highest levels since June 2022 earlier in the day. Read More… GBP/USD news intraday top near 1.2435 as Cable buyers cheer the broadly down US Dollar and hopes of…
The price of WTI WTI WTI is the short-hand for West Texas Intermediate crude oil. WTI is a type of petroleum crude oil that serves as a benchmark in oil pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a high-quality oil due to its low sulfur content and high yields of gasoline and diesel fuel when refined. It is used as a benchmark for pricing other types of crude oil, and the price of WTI crude o WTI…
Bim Wall Street’s major indices extended their rally to a second straight session on Monday, helped by gains in technology stocks. Investors also geared up for an earnings-heavy week that will see many major names report their quarterly results. By late afternoon, the tech-heavy Nasdaq Composite (COMP.IND) was up 2.09% to 11,373.06 points. The benchmark S&P 500 (SP500) was 1.41% higher to 4,028.50 points, while the blue-chip Dow (DJI) added 0.98% to 33,702.07 points. All 11 S&P sectors were trading in the green, with heavyweight sectors Technology and Communication Services leading the gains. All three indices extended their gains from…
2/2 © Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo 2/2 By Howard Schneider WASHINGTON (Reuters) – Kansas City Federal Reserve President Esther George has urged her colleagues to come to terms “earlier than later” on a plan for the U.S. central bank to exit the mortgage-backed securities (MBS) market and be more explicit on how bond purchases will figure into future monetary policy. “You can’t just wake up one day and say, ‘hey, we’re going to get out of this business,'” George, who is retiring from her…
Nasdaq, S&P 500 Talking Points:The Nasdaq and S&P 500 have both broken out to fresh monthly highs as earnings season heats up this week.Stocks broke out a couple of weeks ago after an abysmal PMI report and that bullish theme has largely continued since then. Markets are hopeful that slowing inflation and disappointing data may compel a softer Fed. The big question for this week is how impacted earnings have been from the tighter macro environment and how companies are expecting this to impact forward-looking projections.The analysis contained in article relies on price action and chart formations. To learn more…
NZDUSD trades in an up and down technical rangeThe NZDUSD NZD/USD The NZD/USD is a commonly offered currency pair representing the New Zealand dollar or Kiwi and US dollar. The pair is popular for exposure into a commodity currency, i.e. the NZD, which helps capture risk appetite for forex traders. Like its Antipodean counterpart, the Australian Dollar, the NZD/USD is seen as a carry trade, due in part to interest rate differentials which favor the NZD. The NZD is the world’s seventh most liquid pair at the time of writing with the USD being the world’s most The NZD/USD is…
XAG/USD suffers the worst daily decline in months. Price hits the lowest level in five weeks, under pressure after losing key support levels. Gold remains steady, US stocks rise. Silver price is falling sharply on Monday, even as the US Dollar holds relatively steady and despite rising equity prices. XAG/USD recently hit a fresh one-month low at $22.73 before rebounding toward $23.00. During the Asian session, silver hit a five-day high at $24.15 but It failed to hold above $24.00. After moving sideways during most of the European session, XAG/USD broke the $23.60 support area, and tumbled, also losing the…
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FTSE 100, DAX 40 Technical Outlook Recommended by Tammy Da Costa Get Your Free Top Trading Opportunities Forecast Dax futures have recently struggled to maintain the bullish momentum responsible driving the major European index above 15,000. While the FTSE 100 experienced a pullback from its highest level since 2018, Dow futures have continued to threaten resistance.As a weaker US Dollar and rate expectations drive the global equities, rising volatility, sentiment and technical levels could provide an additional catalyst for price action.With fundamentals largely priced in, the below charts illustrate the manner in which historical moves could continue to assist in…
Prior was -0.2%2022 prices over all rose 7.7% overall compared to 10.3% in 2021The flat reading follows three months of declines but it may only be a temporary reprieve, especially if the Bank of Canada Bank of Canada The Bank of Canada (BOC) is the central bank of Canada. It was created in 1934 and is responsible for implementing monetary policy in the country, issuing currency, and promoting a safe and stable financial system.The Bank’s main role is to “promote the economic and financial welfare of Canada,” as defined in the Bank of Canada Act. This includes maintaining the stability…