Author: FX

Can stronger than expected Australian data keep the uptrend going on AUD/CHF? Here are the levels I’m watching. Before moving on, ICYMI, yesterday’s watchlist checked out AUD/CAD’s pullback setup ahead of BOC Governor Macklem’s remarks. Be sure to check out if it’s still a valid play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: New Zealand commodity prices dipped 0.1% m/m in Dec – ANZ Australia’s CPI rose from 6.9% to 7.3% y/y in Nov vs. 7.2% forecast Australian retail sales surged 1.4% m/m in Nov vs. 0.6%…

UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assess the recently published labour market report in Malaysia. Key Takeaways “Malaysia’s labour market posted a more moderate improvement in Nov, with the unemployment rate holding unchanged at 3.6% for the second straight month. The labour force participation rate advanced to an all-time high of 69.8% (from 69.7% in Oct) following a persistent increase in the size of the labour force (Nov: +25.9k or +0.2% m/m to 16.71mn persons vs Oct: +26.3k or +0.2% m/m to 16.68mn).” “Total employment also saw a slower gain of 27.1k or 0.2% m/m…

Introduction to the Predict Indicator One of the most common types of indicator that new traders would want to find is an indicator that produces reliable trade signals. The Predict Indicator is one of the many trade direction signal indicators that traders can use. It can be an effective signal indicator when used in confluence with other technical indications. What is the Predict Indicator? The Predict Indicator is a momentum following signal indicator which provides momentum reversal trade signals, as well as indications of flat market conditions. This indicator is plots diamond symbols to indicate a trade signal. It plots…

Treasuries were more unidirectional while Yields have crept higher led by the long end. The curve has bear steepened to -65.6 bps from -68 bps Monday and -74 bps before Friday’s data. Wall Street was very choppy, trading either side of unchanged, after a positive opening. Chair Powell did not comment on policy matters in his Riksbank remarks. But Governor Bowman echoed hawkish comments from others of late. Gains had been shed as the market is pushed and pulled by crosscurrents of Fed policy dynamics, recession uncertainties, and upcoming earnings reports. Stock markets moved higher…

Think bitcoin and its crypto buddies could make a comeback this year? Here’s a potential breakout setup you might wanna keep tabs on. Bitcoin (BTCUSD) 4-hour Chart by TradingView Cryptocurrencies have been out of the limelight for some time, following a pretty disappointing run last year. But will 2023 be kind to bitcoin? This triangle consolidation pattern visible on the 4-hour time frame might hold some clues, as the direction of the breakout could dictate longer-term price action for BTC/USD. Price is already testing the triangle resistance around $17,500 and a break higher could set off a climb that’s the…

TechnipFMC secures 'significant' contract by Wintershall Dea Source link

AUDUSD, Daily Australia’s Monthly CPI indicator rose to 7.3% in the year to November, surpassing market forecasts of 7.2% y/y thus fuelling forecasts of further rate hikes in 2023. The most significant contributors to the rise came from housing (+9.6% y/y), food & non-alcoholic beverages (+9.4% y/y), transport (+9.0% y/y), furniture, household appliances & services (+8.4% y/y) and recreation & culture (+5.8% y/y). Source: https://www.abs.gov.au/ The inflation rate is a key factor considered by the RBA when deciding how soon and far to raise interest rates. The latest monthly data shows there are still ongoing inflationary pressures in the economy.…

© Reuters. FILE PHOTO: An employee arranges produce inside a Sainsbury?s supermarket in Richmond, west London, Britain, June 27, 2022. Picture taken June 27, 2022. REUTERS/Henry Nicholls/File Photo LONDON (Reuters) – Sainsbury’s, Britain’s second biggest supermarket group, forecast full year profit towards the upper end of its previously guided range as it reported a 5.9% rise in underlying sales for the Christmas quarter. The group, which has a 15.5% share of Britain’s grocery market, has previously forecast 2022-23 underlying pretax profit of between 630 million pounds and 690 million pounds ($767-$840 million). It made 730 million pounds in 2021-22. Source…

Major currencies are showing very little appetite on the day, with the dollar holding marginally weaker on the balance of things so far this week. There was some sense of caution yesterday as markets eyed remarks from Fed chair Powell but he didn’t deliver anything notable in the end.That allowed for stocks to recover some poise with the S&P 500 bouncing off its 100-day moving average to close 0.7% higher. That said, don’t expect broader markets to start running just yet. The US CPI data tomorrow remains the most important risk event to start the new year and that could…

Australian Dollar has picked strength as Chinese firms have resumed Australian coal imports. The USD Index has sensed sheer selling pressure after failing to surpass 103.00. Aussie has resumed its upside journey after sensing support around the demand zone plotted in a 0.6884-0.6896 range. The AUD/USD pair has overstepped its immediate resistance of 0.6917 in the early European session. The Aussie asset has picked strength amid selling pressure in the US Dollar Index (DXY) after the latter failed to surpass the immediate resistance of 103.00. The market mood is still quiet as S&P500 futures are marginally higher. Out of the…