Author: FX

The Dow Jones extended a bullish recovery on the back of rate cut hopes. US inflation remains above targets, but pressures may be easing slightly. Treasury yields are getting cheaper and rate cut bets are back on the rise. The Dow Jones Industrial Average (DJIA) added over a full percentage point in value on Friday, climbing around 500 points and vaulting back over 43,500 as market expectations for further rate cuts increased. Tech stocks are back on the rise as traders pile back into their risk appetite ways, and the banking sector is broadly climbing after a wide swath of…

In the video above, I take a look at the technicals driving the NZDUSD as we look toward the new trading week.The sellers are more in control below a cluster of MA with a high at 0.5612. If the price cannot get above those MAs, the sellers are in full control A move above that level, and there is still work to do to take back more control. However, it is gives the buyers some hope. Ultimately, it would take a move above the 38.2% of the move down from the November high at 0.5688 for the buyers to show…

The GBPUSD traded to new lows going back to November 2023 on Monday, but fell short of downside targets on the daily chart at 1.2039 to 1.20686. The low reached just below the 1.2100 level at 1.20989.The price bounced but quite frankly the price action was sloppy and misbehaving to the technicals for the rest of the trading week. Like other pairs, the high was reached on Wednesday on the USD selling after the US CPI. However for the GBPUSD, that high moved briefly above the 38.2% of the January trading range at 1.22808, but was quickly reversed and not…

The EURUSD bottomed this week on Monday after falling below the 61.8% of the move up from the 2022 low to the 2023 high at 1.0200. That break could not be sustained. The seller had their shot. They missed. The subsequent move higher saw the pair peak near the 38.2% of the move down from the December high to the January low. That level came in at 1.03494. The high reached 1.0353 and failed. Like the break at the low, the buyers had their shot. They missed. The last two days had seen the pair move up and down in…

The USDJPY last week, moved up to test a key target on the daily chart near 158.88. Sellers leaned and pushed the price off those levels into the close a week ago today.This week, the price of the USDJPY has stepped lower after peaking on Tuesday near the high of a swing area at 158.10. The pair moved below and away from a cluster of moving averages including the 100 and 200-hour MAs and the 100-bar MA on the 4-hour chart. The selling continued yesterday and into the Asian session today stretching to a key target area outlined in earlier…

bombermoon/iStock via Getty Images JinkoSolar (NYSE:JKS) -8.1% in Friday’s trading to a two-month low after estimating FY 2024 net income will total between 80M yuan and 120M yuan ($10.92M-$16.37M), equating to a 98.4%-98.9% decline. The company also expects to report full-year preliminary unaudited net loss attributable Source link

By David Shepardson WASHINGTON (Reuters) -A group representing major automakers said on Friday it filed a lawsuit to block a landmark rule from the administration of President Joe Biden requiring nearly all new cars and trucks by 2029 to have advanced automatic emergency braking systems. The Alliance for Automotive Innovation, representing General Motors (NYSE:), Toyota Motor (NYSE:), Volkswagen (ETR:) and other automakers, said the rule finalized in April by the National Highway Traffic Safety Administration is “practically impossible with available technology.” The group asked the U.S. Court of Appeals for the District of Columbia to overturn the rule. NHTSA declined…

Pound Sterling tumbles as decline in UK Retail Sales sets stage for BoE rate cuts The Pound Sterling (GBP) falls sharply against its major peers on Friday as the United Kingdom (UK) Office for National Statistics (ONS) reported that Retail Sales surprisingly contracted in December, another data that adds to the weak economic outlook. The Retail Sales data, a key measure of consumer spending, declined by 0.3% month-on-month. Economists expected the consumer spending measure to have risen at a faster pace of 0.4% than 0.2% growth in November. Read More… GBP/USD Price Forecast: Remains below 1.2250 barrier near nine-day EMA…

EUR/USD dips and lands around 1.0285 amid fading upside impetus. RSI edges up, still confined in negative territory and signaling lukewarm buying interest. MACD histogram remains flat with green bars, highlighting a lack of compelling bullish follow-through. The EUR/USD pair struggled to maintain upward momentum on Friday, slipping by 0.20% to settle around the 1.0285 mark. Efforts to break decisively above the 20-day Simple Moving Average (SMA) once again fell short, underscoring persistent headwinds facing any near-term recovery. While the pair has managed to avoid a more pronounced sell-off, the market’s appetite for stronger gains appears muted. On the technical…

EUR/JPY finds support at Ichimoku cloud bottom, trading capped at upper edge at 161.45. Bearish momentum noted; faces resistance at 161.00 and 50-day SMA at 161.75. Decline below Ichimoku cloud could test deeper supports at 156.16 and 154.39. The EUR/JPY bottomed near 159.69 and rose past 160.50 on Friday after registering two consecutive days of losses as risk appetite deteriorated. At the time of writing, the cross-pair trades at 160.82, up 0.69%. EUR/JPY Price Forecast: Technical outlook The EUR/JPY trades sideways, capped on the downside by the Ichimoku cloud (Kumo) near the daily low and peaked at the top of…