Author: FX

The Dow Jones Industrial Average (DJIA) took another leg lower on Friday, testing below the 46,800 level for the first time in almost three weeks as an AI stock pullback and withering consumer survey results drag down both sides of the investment-consumption equation. Friday would have seen the release of the latest US Nonfarm Payrolls (NFP) jobs report, but the ongoing US government shutdown, which is officially the longest shutdown in US history, is crimping the flow of official data, leaving investors to grapple with volatile private data, and putting deep question marks where key inflation and employment numbers should…

Shares of ASPI are jumping today after a report that the sons of Donald Trump — Eric and Don Jr — invested in the convertible notes of its subsidiary. Quantum Leap Energy is wholly owned by ASPI and raised about $64.3 billion, according to Bloomberg. Among those investors were Trump’s sons and naturally, shares of the parent company are up 20%.The notes value the company at $400 million, which is about half of ASPI’s market cap, so it certainly moves the needle for the company. Quantum Leap Energy sounds like it might be related to quantum computing — which is…

Boeing says it has begun work on Charleston expansion to boost 787 production Source link

On Tuesday, the AUDUSD fell sharply with the US stocks tumbling lower. On Wednesday, the pair moved higher as stocks corrected some of the declines. Yesterday, it was back down as stocks slid again. Today with the stocks falling again, the AUDUSD has not moved lower, but is trading up and down within a technical range. The price action is diverging from the recent norm.In the video above, I take a look at the AUDUSD pair from a technical perspective and outline the key levels in play as traders take a breather from the risk-off/risk-on price action. Source link

Silver (XAG/USD) trades little changed on Friday, hovering near $48.30 at the time of writing after easing from intraday highs, as the market remains directionless heading into the weekend. The metal has struggled to find fresh catalysts this week, consolidating within a narrow band despite lingering uncertainty in global markets.XAG/USD Daily ChartThe metal has been consolidating within a well-defined horizontal range between $46.00 and $49.50 for nearly two weeks, reflecting an accumulation phase following its sharp retreat from the record high of $54.86 reached on October 16.The 21-day Simple Moving Average (SMA) near $49.46, and the 50-day SMA around $46.32…

AUD/USD trades sideways on Friday, around 0.6480 at the time of writing, following the release of a key indicator that showed a significant deterioration in US consumer confidence. The University of Michigan’s Consumer Sentiment Index dropped to 50.3 in November from 53.6 in October, missing expectations of 53.2, reflecting growing concerns about inflation and the broader economic outlook.Breaking down the data, the Current Conditions Index fell to 52.3 from 58.6, while the Expectations Index declined to 49. Inflation expectations were mixed, with the 1-year outlook edging up to 4.7%, while the 5-year measure eased to 3.6%. This combination of persistent…

Unless you were too busy checking out your AI investments, you should know that the Bank of England (BOE) held its interest rates at 4%, but just barely. The vote split 5 to 4, with four members wanting to cut immediately, much tighter than the 6 to 3 economists expected. Governor Andrew Bailey cast the deciding vote to wait, but his comments made it clear: a December rate cut is coming. Here’s what happened, why markets reacted the way they did, and what to watch next. What Happened: A Knife-Edge Decision On Thursday, the BOE held interest rates at 4%…

The EURUSD started the US session with the price higher and just above the broken 200 hour MA near 1.15525. Buyers on the dip in the early trading, defended that level and that has led to increased upside momentum with new highs for the week. The price has also moved to the next key target area defined by the 61.8% and the high of a swing area at 1.1591 where sellers leaned. In the video, I take a look at the technicals in play and look to answer “What next?” This article was written by Greg Michalowski at investinglive.com. Source…

GBP/USD hovers around 1.3150 as US shutdown dampens households’ sentimentGBP/USD clings to minimal gains on Friday amid the lack of economic data releases in the UK and as markets digest scarce economic data as the US government shutdown continues. The pair trades at 1.3148, up 0.10% after hitting a daily low of 1.3094. Read More…Pound Sterling declines as BoE expects weak near-term demandThe Pound Sterling (GBP) trades lower against its major currency peers, except the New Zealand Dollar (NZD), on Friday. The British currency has come under pressure after the Bank of England (BoE) decided to hold interest rates steady…

The Euro (EUR) extends its rebound against the US Dollar (USD) on Friday, building on renewed weakness in the Greenback. At the time of writing, EUR/USD is trading near 1.1575, its highest level since October 30.The pair is showing strong upside momentum after briefly sliding to a three-month low on Wednesday and is on track to post a weekly gain following two consecutive weeks of declines.On the daily chart, the pair remains confined within a descending parallel channel that has guided price action since September 17, when EUR/USD peaked at 1.1918, its highest level since June 2021. The latest rebound…