Author: FX
US President Donald Trump said that he would prioritize trade discussions during his summit with Chinese President Xi Jinping and downplayed the amount of attention they would devote to the Iran war, Bloomberg reported on Tuesday.Key quotes We’re going to be talking to President Xi about a lot of things. I would say, more than anything, trade. We have a lot of things to discuss. I wouldn’t say Iran is one of them, to be honest with you, because we have Iran very much under control.We’re either going to make a deal or they’re going to be decimated one way or…
Brazil’s Lula scraps tax on imports under $50 before election Source link
XAG/USD is flashing a potential bullish technical signal after its 10-day SMA moved above the 50-day SMA. Will price follow through or fade near resistance? Source link
Citi maintains a buy rating and $300 price target on Nvidia ahead of May 20 earnings, projecting Q1 revenue of $80bn, above the $78.6bn Street consensus, on strong Blackwell chip demand. Summary:Citi has reiterated a buy rating and $300 price target on Nvidia ahead of its first-quarter fiscal 2027 earnings due after market close on May 20, according to a Tuesday investor note from analyst Atif MalikThe bank projects quarterly revenue of approximately $80bn, around $1.4bn above the Wall Street consensus of $78.6bn, per Citi’s researchStronger-than-expected demand for Blackwell B300 chips is cited as the primary driver of the anticipated…
Commerzbank’s Norman Liebke highlights that EU ETS reform, including new benchmark calculations, could significantly raise costs for European Aluminium recyclers and refineries. With fallback benchmarks set to drop sharply, companies may need to buy more allowances, pressuring profitability in a globally priced market. Industry group European Aluminium warns this could undermine Aluminium recycling competitiveness in Europe.EU ETS threatens recyclers’ margins”The upcoming reform of the EU Emissions Trading System (EU ETS I) is intended to ease the burden on companies and give them more time to decarbonize. To this end, in addition to the reform of the market stability reserve and…
The major US stock indices are trading lower today, with the Nasdaq down -1.45%, the S&P 500 lower by -0.80%, and the Dow falling -0.42%. Despite today’s broad-based selling pressure, the larger trend remains sharply higher over the last month, with the Nasdaq still up 11.67% and the S&P 500 higher by 6.75% over that same period as the AI-driven rally and risk appetite fueled strong gains into recent record highs. Today’s decline looks more like a sharp bout of profit-taking in many of the market’s biggest momentum names rather than a wholesale reversal of the broader uptrend. Among the…
USD/CAD trades with a positive tone on Tuesday as a stronger US Dollar (USD) offsets support from elevated Oil prices for the Canadian Dollar (CAD). At the time of writing, the pair is trading around 1.3715, hovering near its highest level since April 16.The Greenback extends its intraday advance after US inflation data came in hotter than expected. Data released by the Bureau of Labor Statistics showed the headline Consumer Price Index (CPI) rose 0.6% MoM in April after increasing 0.9% in March, in line with market expectations. On an annual basis, inflation accelerated to 3.8% from 3.3% previously, exceeding…
Most traders rely on technical analysis alone and are left confused when the market moves against them. Learn what they’re missing, and how adding a broader market lens can give you a fuller, more informed view of the currency markets. Source link
CPI Y/Y 3.48% vs 3.80% expectedPrior 3.40%Full report hereIndia’s annual inflation rate climbed to 3.48% in April, a slight uptick from the 3.40% recorded in March. The headline figure remains within the Reserve Bank of India’s comfort zone of 2% to 6%, and below the medium-term target of 4%.The rise was primarily driven by firming food prices, with food inflation climbing to 4.20% as costs for essential items began to edge higher. The RBI recently took a cautious approach in light of the situation in the Middle East. The central bank maintained the repo rate at 5.25% and held its…
The Euro (EUR) is heading lower against the Dollar (USD) on Tuesday, trading below 1.1750 at the time of writing, after another rejection at the 1.1790 area on Monday. Market concerns about the growing fragility of the US-Iran ceasefire are buoying the safe-haven US Dollar on Tuesday, while the mixed German ZEW Economic Sentiment data has failed to lift the Euro.Institutional investors’ sentiment about the German economy has improved to -10.2 in May from -17.2 in April, against expectations of further deterioration, to -19.8, according to data released by the ZEW Institute. The sentiment about the current economic situation, however,…