Author: FX
The S&P 500 (SP500) on Friday retreated 0.66% for the holiday-shortened week to settle at 3,972.61 points, while its accompanying SPDR S&P 500 Trust ETF (NYSEARCA:SPY) also shed 0.66%. The benchmark index’s weekly decline is the first of the new year, after having climbed more than 4% over the beginning two weeks of January. Sentiment was weighed down by the release of economic data that showed signs of cooling in the U.S. economy and sparked off concerns over a growth slowdown. Though inflation data showed a moderation, the effects of the Federal Reserve’s monetary policy tightening are only showing up…
The major US stock indices are ending Friday with solid gains. For the week the Nasdaq is closing marginally higher for the 3rd week in a row but the S&P and Dow closed the week lower. The final numbers are showing:Dow Industrial Average rose 330.93 points or 1.00% at 33375.50S&P index rose 73.74 points or 1.89% at 3972.60NASDAQ index rose 288.18 points or 2.66% at 11140.44Russell 2000 rose 30.99 points or 1.69% at 1867.33For the trading week:Dow Industrial Average fell -2.7%S&P index fell -0.66%NASDAQ index gained 0.55%Russell 2000 fell -1.0439% Source link
XAG/USD stays firm and climbs as the US Dollar remains offered across the board. Silver Price Analysis: Range-bound but could turn bullish above $24.50; otherwise, it could re-test the 50-DMA. Silver price extended its gains for the second consecutive day, cleared Thursday’s daily high of $23.93, and held its ground above the 20-day Exponential Moving Average (EMA), reaching a new two-day high at $24.07. Nevertheless, as the North American session progressed, the XAG/USD retraced below $24.00 and is trading at $23.93. Silver Price Analysis: XAG/USD Technical Outlook XAG/USD daily chart suggests the white metal is peaking at around the $24.50 area,…
There was little in the way of economic data today, but there was some final Fedspeak to end the week. It also would the last opportunity for Fed officials to speak ahead of their blackout period before the Fed meeting and decision on February. Fed’s George and Waller were both speaking. George is not a voting member and is retiring in 2023. Her comments saw limited reaction. However, Fed’s Waller was the main event as He is a member of the Board of Governors so he has a permanent vote,He hasn’t spoken since November. So what he said would be…
In a mixed week of FX trade, the British pound took the top spot as U.K. employment and inflation data likely supported speculation that more rate hikes may be needed. While on the other end of the spectrum, the Japanese yen was the biggest loser after the Bank of Japan disappointed traders who were betting on a rate hike this week. Notable News & Economic Updates: On Monday, the World Economic Forum (WEF) told business and government leaders at its annual gathering that two-thirds of private and public sector chief economists forecast a worldwide recession in 2023. Chinese GDP rose…
EUR/JPY bounced off the day’s lows at 139.03 and hit a daily high of 141.19 before losing steam. The EUR/JPY reclaiming and achieving a daily close above the 200-day EMA keeps bulls hopeful of higher prices. The Euro (EUR) rallies sharply on Friday, ahead of the weekend, as the Japanese Yen (JPY) weakened following the Bank of Japan’s (BoJ) monetary policy meeting, with the BoJ resolute in keeping its dovish stance, and the Yield Curve Control (YCC). Therefore, the EUR/JPY gains traction and exchanges hands at 140.63, above its opening price by more than 1%. EUR/JPY Price Analysis: Technical outlook…
S&P retesting at 200 day moving averageAs the trading day works toward the close, the S&P ticked briefly above its 200 day moving average at 3968.82. The high price reach 3970.15. Recall from earlier this week, the price closed above the 200 day moving average on Monday and Tuesday, but stalled on Wednesday and fell sharply. The price reached down into 3885.54 yesterday, before starting to rebound in trading today. The low price today stalled against the 50% midpoint of the range since the mid August high. That level comes in at 3897.68. The low price today reached 3897.86 just…
Bitcoin to the moonThe price of bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009…
The Brink's declares $0.20 dividend Source link
Another volatile up and down day for the EURUSDThe EURUSD is back testing the high from earlier today and in doing is completing another up and down (or down and up) session for the pair. Each day this week, the price moved higher or lower and reverserd lower or higher. Today, the price moved higher initially, fell down, and returned back to the high. Technically, the low price today was able to get below the 100 hour MA (blue line), but stalled at the rising 200 hour moving average (green line in the chart above). The subsequent rally returned all…