Author: FX

EUR/USD bulls take on fresh bull cycle highs but bears are lurking.  US CPI weakened the outlook for the US Dollar but a cohort of Fed speakers remain hawkish. Breakout traders could be feeling the heat of a sizeable correction in the coming sessions.  EUR/USD has popped to a fresh bull high following the day’s Consumer Price Index data that inspired a breakout in the US Dollar to the downside. At the time of writing, EUR/USD is up by some 0.8% at the time of writing. The Single Currency has rallied from a low of 1.0726 to a high of 1.0867…

AUD/USD breakout traders target 0.70 the figure and above. Failures to hold in 0.7000 could lead to the capitulation of the bulls.  As per the prior analysis, AUD/USD Price Analysis: Distribution could be playing out into US CPI critical event, a thesis for the downside was illustrated leading up to the US Consumer Price Index event for a three-day set-up that had the downside-eyed should the bears crack the critical 0.68070 support structure and DXY move through key 103.00 and on to test the 103.50 equal highs.  AUD/USD prior analysis It was stated that a move higher in the greenback would cement…

loops7/iStock Unreleased via Getty Images Mercedes-Benz (OTCPK:MBGAF) plans on doing way with the EQ product brand following the next wave of electric vehicles from the company, according to German media reports. The EQ brand is currently the battery electric versions of various models and minicars offered by the German automaker. The increased focus by Chief Executive Ola Kaellenius and the board on making all electric cars in the futures is said to now make the EQ brand somewhat redundant. “With the goal of our parent brand Mercedes-Benz becoming fully electric by the end of the decade, we will adapt the…

US Dollar Talking Points: Recommended by James Stanley Get Your Free USD Forecast Inflation continues to fall in the United States and this morning’s print brought the sixth consecutive month of headline CPI moving-lower, following the peak of 9.1% that showed in June of last year.The US Dollar dropped after the release, setting a fresh seven-month-low and trading below the 103 handle that had tried to hold the lows coming into this morning’s data. Support showed at a trendline projection, which originated in June of 2021 and connects to the February 2022 swing low. That projection came into the picture…

© Reuters. FILE PHOTO: Dutch Prime Minister Mark Rutte arrives to attend an informal summit of EU leaders at the Chateau de Versailles (Versailles Palace) in Versailles, near Paris, France March 11, 2022. REUTERS/Sarah Meyssonnier AMSTERDAM (Reuters) – Dutch Prime Minister Mark Rutte and Foreign Minister Wopke Hoekstra will travel to Washington D.C. next week to meet with U.S. President Joe Biden, Dutch national broadcaster NOS reported on Thursday. The leaders are to discuss the war in Ukraine and economic ties on Tuesday, the broadcaster reported. It will be Rutte’s first visit to the United States since he met with…

<p>Bullard is speaking on a virtual panel. I'll update the comments as he makes them.</p><ul><li>US households still remain flush, should support consumption</li><li>Looks like we have above-trend growth in Q4</li><li>Better global prospects than just a few weeks ago</li><li>It's hard to see how unemployment is going to go up, the labor market is strong</li><li>We need to avoid a repeat of the 1970s, must maintain rates at high enough levels to make sure <a href="https://www.forexlive.com/terms/i/inflation/" target="_blank" id="ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa_1" class="terms__main-term">inflation</a> moves down</li><li>Something north of 5% is the lowest level the Fed could use to credibly restrict inflation</li></ul><p>Sounds like he's upbeat on the chances of a…

MULN stock drops on lack of bullish surprise from CPI. December inflation on Thursday hit 6.5% YoY, good but what was already expected. Tesla stock has also dropped over 3% on the news. Mullen Automotive stock bounced off the 9-day moving average at $0.36. Mullen Automotive (MULN) stock is trading down on Thursday as inflation data in the form of the Consumer Price Index for December proved in line with estimates rather than providing a bullish surprise. If headline inflation came in well below the 6.5% headline rate, then riskier stocks like Mullen would have outperformed. Instead, the headline rate of…

UK and the Pound – 2023 Outlook This year is expected to be exceptionally challenging for the UK and its economy, with the recovery from the pandemic being overshadowed by a cost of living crisis with low consumer and business confidence, extensive strikes and continuing uncertainty over the war in Ukraine.  UK Inflation soared to 11.1% in 2022. The country had a GDP of -0.3% in Q3 2022 and is expected to have a GDP of -1.0% in Q4 2022 which would be the start of a recession that will likely last through 2023 making the country’s long term growth…

IvelinRadkov In the wake of the latest consumer price index report, Treasury yields have come down a bit on Thursday, placing upward support on exchange traded funds that are tied to the moves in the bond market. On Thursday, Wall Street watched the U.S. 10-year Treasury yield (US10Y) decline by 2 basis points to 3.54%. At the same time, the shorter end U.S. 2-year Treasury yield (US2Y) has slipped by 6 basis points to 4.17%, which has a technical significance as the Treasury yield pierced below its 100-day moving average for the first time since August of 2021. As a…

5/5 © Reuters. Yoyo Liang, from mainland China, received a dose of BioNTech bivalent coronavirus disease (COVID-19) vaccine at a private clinic in Hong Kong, China January 12, 2023. REUTERS/Tyrone Siu 2/5 By Joyce Zhou HONG KONG (Reuters) – Scores of mainland Chinese travellers are rushing to Hong Kong to receive mRNA COVID-19 vaccines, which are not available on the Chinese mainland, as the country grapples with a torrent of infections which have overwhelmed its health system. A private hospital in the special Chinese administrative region of Hong Kong welcomed the first batch of mainland customers on Thursday, just five…