Author: FX
Tough week for U.S. dollar bulls as traders correctly anticipated a slowdown in U.S. inflation data and begin to price in the potential for the current aggressive interest rate hiking cycle in the U.S. to peak. Notable News & Economic Updates: China’s central bank will assist private firms and ease tech company crackdowns to boost the economy. State media quoted PBC Communist party leader Guo Shuqing this past weekend. In his speech on Tuesday, Federal Reserve Chairman Jerome Powell stressed the significance of the central bank’s independence from political influence as it deals with stubbornly high inflation. He acknowledged that…
<p>S&P 500 futures fell by as many as 40 points in the premarket but the bulls steadied the ship and have slowly turned it around. The index is now up 15 points to a session high of 4018.</p><p>There's a year-long downtrend in the index that could soon be threatened.</p> This article was written by Adam Button at www.forexlive.com. Source link
Some of the key earnings releases scheduled for next week:Tuesday January 17Morgan StanleyGoldman SachsInteractive BrokersUnites AirlinesWednesday, January 18Charles SchwabPNC FinancialKinder MorganDiscoverJB HuntAlcoaThursday, January 19Proctor and GambleNetflixPPG IndustriesAmerican AirlinesComericaKimberly ClarkFriday, January 20Other key earnings ahead:Tuesday, January 24MicrosoftJ&JVerizonRaytheonLockheed MartinGeneral Electric3MTravelersWednesday, January 25TeslaAT&TIBMBoeingServiceNowGeneral DynamicsHessThursday, January 26McDonald’sComcastIntelIntuitive SurgicalFreeport McMoranDowSouthwest airlinesUS SteelTuesday, January 31AlphabetExxon MobilPfizerCaterpillarAMDStrykerGeneral MotorsWednesday, February 1Meta-PlatformsAlibabaPayPal holdingsBoston ScientificThursday, February 2AppleAmazonVisaMasterCardMerck and CompanyBristol-Myers SquibbConocoPhillipsHoneywellAmgenQualcommStarbucksFord MotorMotorolaADVERTISEMENT – CONTINUE READING BELOW Source link
Massimo Giachetti/iStock Editorial via Getty Images Activist hedge fund Trian Fund Management said on Friday it had received “numerous inquiries and expressions of support” from other Walt Disney (NYSE:DIS) shareholders as the Nelson Peltz-led fund tries to boost Disney’s performance and share price. “As a large shareholder of Disney we are interested in the long-term success of the Company and are excited about the opportunity to represent the interests of all shareholders in the boardroom,” Trian said in the filing. “We are confident that Nelson’s significant experience and long track record of driving sustainable long-term shareholder value would make him…
Bitcoin gets closer to the 200 day MAThe price of Bitcoin has continued its run to the upside today and is getting closer to its 200 day MA at $19510.90. The high price today has reached $19396 so far, just $120 or so from the MA level.The price of bitcoin has not traded above its 200 day MA since December 31, 2021. The price today moved above its 38.2% retracement of the move down from the August 15, 2022 high. That comes in at $19,279. That level is a close risk level for buyers. For the week, the price is…
© Reuters. FILE PHOTO: TikTok app logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration By David Shepardson WASHINGTON (Reuters) – Kentucky is joining more than 20 U.S. states in banning the popular video app TikTok on government devices citing cybersecurity concerns. The state said it had updated its employee handbook to bar state employees from using government-managed devices to access the Chinese-owned app “other than for a law enforcement purpose.” On Thursday, the governors of Wisconsin and North Carolina signed orders banning TikTok on government devices. Ohio, New Jersey and Arkansas also took similar actions earlier…
gold daily chartThe gold bulls are certainly having a moment.At the start of December, as I always do, I highlighted the seasonal trend towards higher gold. Once again, it worked and remains the single-best seasonal trade I know of. It’s been a ticket to start the year off with a solid gain forever.This year has been particularly good with gold surging off a triple bottom in early November. The gains accelerated after softer October CPI and has been supercharged by the retracement in the US dollar and expectations for a less-hawkish Fed.It’s now up 17% since the start of November,…
Crude oil prices testing the downward sloping trendlineThe price of WTI crude oil is settling at $79.86. That is up $1.47 or 1.88%. The high for the day is not far from the sell price at $39.89. The low was down at $77.97.For the trading week, the prices of 8.15% after closing last week at $73.77. That is the largest increase going back to October 3, 2022 trading week. The price has been up for seven consecutive days.Looking at the daily chart above, the will to the upside has the price testing the downslope trendline. Move above that level traders…
The major indices have erased declines, and the major indices are back in black. Technically, the S&P is back above its 200 day MA at 3981.17. The price is at 3988 currently.The Nasdaq is getting closer to its 100 day MA at 11057.39. The high today just reached 11043.59 (within 14 points of the MA level). The price moved above the 100 day MA back on December 13, the day of the CPI, but quickly reversed. Its 200 day MA is still higher at 11633.81 (+5.22% from current levels). ADVERTISEMENT – CONTINUE READING BELOW Source link
USD/CHF retraced earlier gains after printing a daily high of 0.9316. Upbeat US economic data is bad for the greenback as the US Dollar weakens. USD/CHF Price Analysis: A break / daily close below 0.9300 would expose the pair to further selling pressure. The USD/CHF is trading below its opening price, though it failed to crack the 20-day Exponential Moving Average (EMA) and missed to hold to 0.9300, albeit upbeat US data crossed newswires. Therefore, the USD/CHF is exchanging hands at 0.9265 at the time of writing. Wall Street has resumed its uptrend after a brief hiccup that witnessed the S&P…