Author: FX
The Greenback grabbed some much-needed oxygen on Maundy Thursday despite alternating risk appetite trends. In addition, investors shifted their attention to another round of the Trump-Powell effervescence after Trump urged the Fed to slash interest rates and said Chair Powell should be removed as soon as possible, repeating past threats to fire him. The comments came a day after Powell emphasised the Fed’s independence in a speech.Here is what you need to know on Friday, April 18: The US Dollar Index (DXY) posted decent gains on Thursday, although it maintained its business in the lower end of the recent range…
Treasury Secretary Bessent is reportedly to meet Italy’s economic minister on Tuesday at the G20 summit. Trump is expected to meet with Italy’s prime minister today.Italy’s Economic minister says:Tax policy including domestic digital levies is matter to be negotiated with US at bilateral not EU level.Italian Prime Minister Giorgia Meloni is scheduled to meet with President Trump today in Washington. Meloni seeks to balance national interests with EU solidarity, potentially advocating for increased purchases of American liquefied natural gas and military equipment to ease tensions. An EU spokesman said yesterday that they expect tariffs to be enacted eventually as trade…
EUR/USD slides to near 1.1340 as the ECB reduces its key borrowing rates by 25 bps, as expected.The ECB omits to comment that interest rates are still restrictive.Big progress in US-Japan trade talks has provided some relief to the US Dollar.EUR/USD faces selling pressure and declines to near 1.1340 during North American trading hours on Thursday. The major currency pair slides as the European Central Bank (ECB) has cut its key borrowing rates by 25 basis points (bps), as expected, pushing the Deposit Facility Rate and the Main Refinancing Operations Rate lower to 2.25% and 2.4%, respectively.This is the sixth…
UnitedHealth pulls the heaviest weight in the Dow and so them slashing earnings outlook for the year while reporting an earnings miss in Q1 is weighing on the index. Dow futures have erased earlier gains to be down 0.8% now with UNH shares indicated down by over 16% in pre-market trading.This is also weighing slightly on the broader market mood with S&P 500 futures seeing gains chipped away to 0.6%. Tech shares remain buoyed with Nasdaq futures up 1.0% at the moment. The drag on UnitedHealth is also weighing on other health insurers such as Elevance and CVS Health. The…
NEE Elliott Wave technical analysis Function: Counter trend. Mode: Corrective. Structure: Flat. Position: Wave (C) of 2. Direction: Bottoming in Wave (C). Details: Intermediate wave (C) appears to be near completion within a broader Primary wave 2 structure. This setup shows a three-wave corrective pattern, indicating the potential for a reversal. NEE Elliott Wave technical analysis Function: Counter trend. Mode: Corrective. Structure: Flat. Position: Wave 4 of (C). Direction: Downward continuation into Wave 5. Details: The current chart suggests wave 4 of (C) is concluding. One more leg down is expected to complete wave 5 of (C). The upward movement from the April 9th low reflects a three-wave correction, reinforcing the wave 4…
Taiwan Semiconductor in charts: 3nm, 5nm, 7nm, 16nm and 28nm chips power Q1 revenue growth Source link
EUR/AUD looks ready to bounce from a technical support zone and extend a long-term trend! Will the pair head for key resistance levels in the next few days? We’re zooming in on EUR/AUD’s 4-hour chart for clues: EUR/AUD 4-hour Forex Chart by TradingView The euro has been seeing mixed price action lately as traders weigh the ECB’s rate cut outlook against upbeat Eurozone data and some cautious optimism on the trade war front. Meanwhile, the Australian dollar is struggling to find support, pressured by rising U.S.-China trade tensions and mounting global growth worries. Remember that directional biases and volatility conditions…
There aren’t any major expiries to take note of on the day. And as a reminder, the Easter break coming tomorrow also dampens any interest on this towards the end of the week. Trading sentiment will continue to rely on the same drivers as it has been since last week i.e. broader market mood and headline risks. For today, there is a slight bounce in risk and that’s helping the dollar out a little ahead of European trading.For more information on how to use this data, you may refer to this post here. This article was written by Justin Low…
Gold price enters a bullish consolidation phase after hitting a fresh all-time peak on Thursday.A modest USD bounce and a positive risk tone cap the commodity amid overbought conditions.US-China trade war concerns, recession fears, and Fed rate cut bets support the XAU/USD pair. Gold price (XAU/USD) consolidates the previous day’s blowout rally and oscillates in a range near the all-time high touched during the Asian session on Thursday amid mixed fundamental cues. The upbeat US Retail Sales data and Federal Reserve (Fed) Chair Jerome Powell’s hawkish comments on Wednesday assist the US Dollar (USD) to gain some positive traction. This,…
The Bank of Canada (BOC) held its policy rate at 2.75% in April, its first pause after seven consecutive rate cuts since June 2024. This decision came amid extreme uncertainty about U.S. trade policies, with Governor Tiff Macklem stating, “We still do not know what tariffs will be imposed, whether they’ll be reduced or escalated, or how long all of this will last.” Key Points from BOC’s Event BOC held the overnight rate at 2.75% Trade uncertainty made it “impossible to issue regular economic forecasts” Presented two scenarios instead of a central forecast Economy entered 2025 with solid Q4/2024 growth…