Author: FX
Iran has restored operational access to 30 of its 33 Hormuz missile sites and retains 70% of its prewar missile stockpile, posing a continued threat to warships and oil tankers, US assessments show.Summary:US assessments reviewed by people with knowledge of the findings show Iran has restored operational access to 30 of the 33 missile sites it maintains along the Strait of Hormuz, according to the New York TimesThe restored sites give Iran the ability to deploy mobile launchers to alternative locations and, in some cases, to launch missiles directly from fixed launchpads within the facilitiesOnly three of the 33 missile…
The core logic isn’t magic. The indicator calculates support and resistance zones using a combination of recent swing highs and lows, price action clustering, and in most versions, a smoothing mechanism similar to a moving average applied to pivot structures. What separates it from a basic pivot point indicator is that the zones recalculate based on a rolling lookback period. As new candles form, old levels that price has moved away from get removed, and new ones appear where price is spending time. Think of it as the indicator constantly asking: “Where is price finding friction right now?” Some versions…
US President Donald Trump said that he would prioritize trade discussions during his summit with Chinese President Xi Jinping and downplayed the amount of attention they would devote to the Iran war, Bloomberg reported on Tuesday.Key quotes We’re going to be talking to President Xi about a lot of things. I would say, more than anything, trade. We have a lot of things to discuss. I wouldn’t say Iran is one of them, to be honest with you, because we have Iran very much under control.We’re either going to make a deal or they’re going to be decimated one way or…
Brazil’s Lula scraps tax on imports under $50 before election Source link
XAG/USD is flashing a potential bullish technical signal after its 10-day SMA moved above the 50-day SMA. Will price follow through or fade near resistance? Source link
Citi maintains a buy rating and $300 price target on Nvidia ahead of May 20 earnings, projecting Q1 revenue of $80bn, above the $78.6bn Street consensus, on strong Blackwell chip demand. Summary:Citi has reiterated a buy rating and $300 price target on Nvidia ahead of its first-quarter fiscal 2027 earnings due after market close on May 20, according to a Tuesday investor note from analyst Atif MalikThe bank projects quarterly revenue of approximately $80bn, around $1.4bn above the Wall Street consensus of $78.6bn, per Citi’s researchStronger-than-expected demand for Blackwell B300 chips is cited as the primary driver of the anticipated…
Commerzbank’s Norman Liebke highlights that EU ETS reform, including new benchmark calculations, could significantly raise costs for European Aluminium recyclers and refineries. With fallback benchmarks set to drop sharply, companies may need to buy more allowances, pressuring profitability in a globally priced market. Industry group European Aluminium warns this could undermine Aluminium recycling competitiveness in Europe.EU ETS threatens recyclers’ margins”The upcoming reform of the EU Emissions Trading System (EU ETS I) is intended to ease the burden on companies and give them more time to decarbonize. To this end, in addition to the reform of the market stability reserve and…
The major US stock indices are trading lower today, with the Nasdaq down -1.45%, the S&P 500 lower by -0.80%, and the Dow falling -0.42%. Despite today’s broad-based selling pressure, the larger trend remains sharply higher over the last month, with the Nasdaq still up 11.67% and the S&P 500 higher by 6.75% over that same period as the AI-driven rally and risk appetite fueled strong gains into recent record highs. Today’s decline looks more like a sharp bout of profit-taking in many of the market’s biggest momentum names rather than a wholesale reversal of the broader uptrend. Among the…
USD/CAD trades with a positive tone on Tuesday as a stronger US Dollar (USD) offsets support from elevated Oil prices for the Canadian Dollar (CAD). At the time of writing, the pair is trading around 1.3715, hovering near its highest level since April 16.The Greenback extends its intraday advance after US inflation data came in hotter than expected. Data released by the Bureau of Labor Statistics showed the headline Consumer Price Index (CPI) rose 0.6% MoM in April after increasing 0.9% in March, in line with market expectations. On an annual basis, inflation accelerated to 3.8% from 3.3% previously, exceeding…
Most traders rely on technical analysis alone and are left confused when the market moves against them. Learn what they’re missing, and how adding a broader market lens can give you a fuller, more informed view of the currency markets. Source link