Author: FX
Mexico’s Q4 GDP contracts for the first time since 2021. Banxico slashes 2025 growth outlook to 0.6%, well below Finance Ministry projections. US data mixed: Manufacturing PMI improves but Services PMI falls into contraction. The Mexican Peso (MXN) lost some ground against the US Dollar (USD) on Friday as the Mexican economy decelerated in the last quarter of 2024. This indicates that the outlook is not as promising as expected amid an environment of uncertainty linked to United States (US) President Donald Trump’s trade policies. USD/MXN trades at 20.41, registering gains of 0.54%. Mexico’s economy contracted in Q4 2024 for…
UnitedHealth Group stock slides hard as DOJ opens investigation. Government probe involves possible fraudulent overcharging of Medicare Advantage plans. UNH stock slides as low as 438.50, a 10-month low. Health insurer calls allegations “false” and “outrageous”. UnitedHealth Group (UNH) stock crashed on Friday morning in light of a new United States (US) Department of Justice (DOJ) probe into possible overcharging of the federal government entity for retiree health services. UNH stock plunged as much as 12.7% at the open, but shares are now down about 9% closer to lunchtime near $457. UnitedHealth Group is one of the largest holdings in the…
GBP/USD slips after hitting record high past 100-day SMA GBP/USD registers losses on Friday during the North American session after testing the 100-day Simple Moving Average (SMA) at 1.2658. Good economic data from the United Kingdom (UK) pushed the pair towards year-to-date (YTD) highs of 1.2678 before stabilizing at current spot prices. The pair exchanges hands near 1.2660. Read More… Pound Sterling weakens against US Dollar as investors see Trump tariffs less fearful The Pound Sterling (GBP) falls back after posting a fresh two-month high near 1.2680 against the US Dollar in North American trading hours on Friday. The GBP/USD pair surrenders intraday gains…
EUR/USD slips 0.22% to 1.0450 on Friday, reversing after testing the 100-day SMA. RSI drops sharply to 55, signaling weakening bullish momentum near the midpoint. MACD histogram prints lower green bars, indicating fading buying pressure and potential for further downside. The EUR/USD pair faced a setback on Friday, declining by 0.44% to settle near 1.0450 after encountering firm resistance at the 100-day Simple Moving Average (SMA) around 1.0540. This rejection marks a critical turning point for the pair, suggesting that bullish momentum is beginning to wane after a recent run higher. Without a decisive break above this key level, bulls…
The US Dollar holds on to small gains after rather disappointing US PMI release. The US economy is no longer outperforming or outpacing the Eurozone. The US Dollar Index (DXY) heads back to the mid-106.00 region. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading around 106.60 at the time of writing after a rather disappointing United States (US) preliminary Purchase Manager’s Index (PMI) release for February. Main element which stood out was the Services sector that fell into contraction by 49.7, missing the 53.0 estimate and below the January…
UMich 5 year inflation expectationsDid people really think Donald Trump was going to lower grocery prices?For all the thinking and analyzing people do about the election, there was one party that oversaw a spike in inflation and Donald Trump who said he was going to lower prices on Day 1.Of course, there’s no magic wand and Trump quickly said “it’s going to be hard” to bring down prices. Could it be as simple as low-information voters thinking he could actually bring down prices?In any case, since then the tariff talk certainly hasn’t cooled the flames of inflation. Now here we…
AUD/USD faces offers near 0.6400 ahead of the preliminary US S&P Global PMI data for February. Investors see Trump’s tariff agenda as less fearful than anticipations. RBA’s Bullock support for maintaining a cautious interest rate cut stance. The AUD/USD pair faces selling pressure around 0.6400 in North American trading hours on Friday. The Aussie pair weakens as the US Dollar (USD) trades firmly ahead of the release of the flash United States (US) S&P Global Purchasing Managers’ Index (PMI) at 14:45 GMT. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, rises to 106.75 after…
DOJ investigates Medicare billing practices at UnitedHealth, WSJ reports Source link
Prio +1.3% HICP +1.7% vs +1.7% y/y prelimPrior +1.4% This article was written by Giuseppe Dellamotta at www.forexlive.com. Source link
The Pound Sterling gains sharply against its major peers after the release of upbeat UK Retail Sales data for January. UK’s upbeat Retail Sales, hot inflation, and strong wage growth are expected to weigh heavily on BoE’s dovish bets. Investors await for the preliminary S&P Global UK/US PMI data for February. The Pound Sterling (GBP) strengthens against its major peers on Friday after the release of robust United Kingdom (UK) Retail Sales data for January. The Office for National Statistics (ONS) reported that Retail Sales, a key measure of consumer spending, rose at a robust pace of 1.7% in the month…