Author: FX
Chile's copper output, manufacturing production fall in October Source link
US FDA memo links 10 child deaths to COVID vaccines, New York Times reports Source link
American Airlines cuts number of jets needing Airbus software fix to 209 Source link
EUR/USD steadies during Friday’s North American session set to finish the week and November’s in positive territory with gains o 0.81% and 0.59%, respectively as traders seem certain that the Federal Reserve will cut rates in December. The pair trades at 1.1601 after bouncing off daily lows of 1.1555.Euro ends week and month higher as dovish Fed signals outweigh mixed US dataThe US Dollar treads water amid growing speculation for a rate cut. Data from the CME FedWatch Tool shows that the odds for a 25-basis points reduction to the fed funds rate at 87% for the December meeting. The…
Forex traders navigated holiday volatility as Fed officials hinted at rate cuts, RBNZ surprised markets, & the USD weakened during a short trading week. Source link
Trump, Maduro spoke last week, New York Times reports Source link
Aptos (APTUSD), the Layer 1 blockchain platform designed for scalability and speed, finds itself in technically troubled waters. After months of respecting a well-defined descending channel, APT/USD has finally given up its midline support—and what happens next could be a textbook lesson in channel mechanics.Let’s break down what we’re seeing. Since February, Aptos has been grinding lower within a clean parallel channel, bounded by solid blue trendlines that have contained every rally and decline throughout 2024. The upper boundary repeatedly rejected bullish attempts, while the lower boundary provided reliable support when selling pressure exhausted itself. Between these two extremes, the…
Gold (XAU/USD) rises over 1% on Friday amid a scarce economic docket, but traders are pricing further easing by the Federal Reserve (Fed) at the next meeting, pushing the non-yielding metal past the $4,200 mark for the first time in the last ten days.Bullion surges over 1% in thin holiday trade as easing expectations climb toward 87% despite mixed US dataExpectations that the Federal Reserve would continue its easing cycle increased as the CME FedWatch Tool shows odds for a 0.25% reduction at the December 9-10 meeting at 87%,. Meanwhile, Fed officials remained muted since Wednesday, heading for Thanksgiving, as…
The USD was mostly lower with the exception being the GBP (USD up a modest 0.05%). A snapshot of the changes of the USD vs the major currencies as US traders head home early for the weekend shows:EUR -0.04%GBP +0.05%JPY -0.10%CHF -0.19%CAD -0.36%AUD -0.21%NZD -0.10%The big mover was the USDCAD after the GDP came in stronger at 2.6% vs 0.5% estimate. GDP Q3 Q/Q +0.6% vs -0.4% prior (revised to -0.5%)GDP YoY 2.6% vs 0.5% estimateThe BoC projected +0.5%, so this blows it out of the water However, it was mainly driven by a big fall in imports. Nevertheless, it…
Silver (XAG/USD) climbs to a fresh all-time high on Friday, buoyed by dovish Federal Reserve (Fed) expectations alongside strong industrial and investment demand. At the time of writing, XAG/USD is trading around $56.40, with prices up over 12% this week and on track to log a seventh straight monthly gain.A tightening supply backdrop is adding further support to the rally, with reports indicating that inventories at Shanghai Futures Exchange warehouses have dropped to their lowest level since 2015. Market data also show that physical Silver turnover on the Shanghai Gold Exchange has slipped to a nine-year low.According to the Silver…