Author: FX

Investing.com — Shares of Palo Alto Networks (NASDAQ:) fell more than 2% in premarket trading Wednesday after analysts at BTIG and Deutsche Bank (ETR:) downgraded the stock. BTIG cut its Palo Alto rating from Buy to Neutral, citing concerns over the company’s growth prospects in its core network security market and its Next-Generation Security (NGS) business. Specifically, the firm expressed skepticism about the company’s ability to sustain a growth rate above 15%, coupled with limited upside to Street estimates for NGS Annual Recurring Revenue (ARR) this year. “We think the segment could decelerate at a faster-than-expected pace in FY26 and…

Fundamental OverviewGold remains confined in a range as the market continues to wait for the US NFP and CPI reports. Yesterday it seemed like we could get a break above the 2660 resistance but eventually the price got smacked back down following the hot US Job Openings and ISM Services PMI. The market’s pricing didn’t change much although traders no longer fully price in the next rate cut before July. The main event though remains the US CPI release next week. Soft data should trigger a dovish market reaction which should support gold. Conversely, another hot report will likely send…

NZD/USD struggles to gain any meaningful traction as traders now await FOMC meeting Minutes.  The Fed’s hawkish shift remains supportive of elevated US bond yields and favors the USD bulls. Geopolitical risks and trade war fears also contribute to capping the upside for risk-sensitive Kiwi.  The NZD/USD pair stalls the previous day’s retracement slide from a nearly three-week high, albeit it struggles to attract any meaningful buyers and trades around the 0.5630-0.5625 area during the early European session on Wednesday. Traders seem reluctant and opt to await the release of FOMC meeting Minutes before placing fresh directional bets.  Traders on Wednesday…

By Jack Kim SEOUL (Reuters) -South Korea’s President Yoon Suk Yeol faces a new and potentially more robust attempt to arrest him for insurrection after a top investigator vowed to do whatever it takes to break a security blockade and take in the impeached leader. Protesters supporting and opposing the embattled Yoon braved freezing temperatures to stage rallies on the streets around the presidential compound on Wednesday after a court re-issued a warrant on Tuesday to arrest him. The Presidential Security Service (PSS) has been fortifying the compound this week with barbed wire and barricades using buses to block access…

The Australian Bureau of Statistics (ABS) showed Australia’s headline inflation rising by 2.3% in the 12 months to November, up from October’s 2.1% reading, with underlying inflation measures signaling persistent price pressures. Excluding volatile items and holiday travel, consumer prices rose by 2.8% in November, accelerating from 2.4% in October. Meanwhile, Reserve Bank of Australia’s (RBA) trimmed mean inflation – an alternative measure of core inflation – came in at 3.2% in November, down from 3.5% in October but still above the central bank’s 2% – 3% target band. Link to ABS November CPI Report Details also revealed that: Food…

The major assets took cues from individual catalysts, with U.S. equities taking hits from a pullback in tech stocks, while commodities like gold and oil found support from supply and demand-related headlines. In the FX scene, the U.S. dollar saw a U-turn, losing pips to its counterparts early in the day but recovering after the release of strong U.S. labor market-related data during the U.S. session. Wanna see how the major assets traded on Tuesday? Read on! Headlines: Switzerland monthly CPI remained at -0.1% as expected in December; Average annual inflation hit 1.1% in 2024 France preliminary CPI improved from…

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AUD/NZD has been cruising higher inside an ascending channel for more than a month already, and it looks like another test of support is due. Take a look at these inflection points on the 4-hour time frame! AUD/NZD 4-hour Forex Chart by TradingView Earlier today, the Australian economy printed a stronger than expected December CPI reading of 2.3% versus the consensus of a 2.2% year-on-year increase and the earlier 2.1% figure. Some say that this upbeat inflation print could be enough for the Reserve Bank of Australia (RBA) to push back any easing plans until May, possibly keeping their currency…

The Institute for Supply Management’s services sector gauge expanded at a faster pace in December, with the headline index rising to 54.1 from November’s 52.1 reading versus the 53.5 market consensus. More notably, the prices component saw its sharpest monthly increase in nearly a year, setting implications for the Fed’s monetary policy easing path for 2025. Key points from the ISM report: Business Activity Index rose to 58.2%, up 4.5 points from November New Orders Index edged higher to 54.2% from 53.7% Employment Index remained in expansion at 51.4% Prices Paid Index jumped 6.2 points to 64.4%, its highest since…

WTI price gains traction to near $74.15 in Wednesday’s Asian session. US crude oil inventories fell by 4.022 million barrels last week, according to the API.  Oil traders brace for the FOMC Minutes on Wednesday ahead of the US December NFP report.  West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $74.15 on Wednesday. The WTI price edges higher amid expected higher Chinese demand and a larger drop in US crude stocks. A large drop in US crude inventories last week provides some support to the WTI. The API weekly report showed crude oil stockpiles in the United States for the…