Author: FX
UK money supply and lending data for November came in on the weak side of expectations. Softer demand for mortgages suggests the rebound in UK house prices is starting to crimp demand, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Source link
The Euro (EUR) has recovered a little from new cycle lows near 1.0240 made yesterday against the US Dollar (USD) but the rebound has stalled below 1.03 so far on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.EUR scratches out a minor rebound“The EUR is quite undervalued, from my point of view, but there is little reason to expect a significant pick up at this point. German unemployment rose 10k in December, holding the unemployment rate at 6.1%. The data was better than expectations of a 15k gain.”“Short-term price signals suggest a minor reversal may have developed around yesterday’s…
The CAD is little changed on the session and continues to hold in the trading range established prior to the holiday break, Scotiabank’s Chief FX Strategist Shaun Osborne notes.USD/CAD is USD-bullish on a clear push above 1.4430“US/Canada terms spreads have stabilized and a dearth of domestic news—economic or political—is helping steady the CAD for now. Scope for any CAD rebound is very limited at present, however, and still elevated implied volatility (3m vol is holding just under 7%) reflects underlying concerns about the risks facing the CAD in the short run.”“There is no obvious change in the CAD’s technical condition.…
These 9 stocks are poised for momentum and are within the buy zones and my top 3 preferred stock setups. The exact setups, stop loss, detailed analysis in Klaviyo (KVYO), Eton Pharmaceuticals (ETON), TSSI, Nvidia (NVDA), Taiwan Semiconductor Manufacturing (TSM), Amer Sports (AS), Rocket Lab USA (RKLB), OKLO, Fiverr International (FVRR) were discussed in this video below. Source link
After a solid start to the year yesterday, broad dollar gains have been checked back somewhat, leaving the Dollar Index (DXY) in consolidation mode into the weekend, Scotiabank’s Chief FX Strategist Shaun Osborne notes.Strong USD advance leaves valuation looking stretched“Some restraint in the dollar’s overall advance would not be too surprising, despite its robust performance in the past couple of weeks. Fundamentals are favourable and seasonal trends suggest that strength is likely to persist through Q1. But the gains in the DXY are looking stretched relative to our fair value estimate based on rate differentials alone.”“There is a Trump premium…
NZD/USD holds key support of 0.5600 as the NZD rebounds after PBoC’s dovish guidance on interest rates. The US Dollar declines as the Fed is expected to follow a more gradual policy-easing approach this year. Investors await the US ISM Manufacturing PMI data for December. The NZD/USD pair gains firm-footing near the round-level support of 0.5600 in Friday’s North American session. The Kiwi pair rebounds as the New Zealand Dollar (NZD) bounces back after reports that the People’s Bank of China (PBoC) will reduce its reserve ratio requirements (RRR) and interest rates further this year “at an appropriate time”. The…
(Reuters) -U.S. President Joe Biden said on Friday he would block Japanese company Nippon Steel’s $14.9 billion buyout of U.S. Steel, citing reasons related to national security and keeping the storied American firm domestically owned and run. Here’s a timeline of events between the two steelmakers: DATE DEVELOPMENT Aug. 13, U.S. Steel announces aim to explore options 2023 after receiving unsolicited bids, ranging from the acquisition of certain production assets to consideration for the company Aug. 13, U.S. Steel rejects a $7.3-billion offer from 2023 Cleveland-Cliffs (NYSE:), leading to the start of a formal review of its strategic options Aug.…
The Pound Sterling seems vulnerable near 1.2400 against the US Dollar as the Fed has signaled fewer interest rate cuts this year. Lower US Initial Jobless Claims have signaled an improvement in labor market conditions. The BoE is expected to cut interest rates by 60 bps this year. The Pound Sterling (GBP) trades near a more-than-eight-month low around 1.2400 against the US Dollar (USD) in Friday’s North A session. The GBP/USD pair is under pressure while the US Dollar has extended its bull run as market participants expect fewer interest rate cuts from the Federal Reserve this year. The latest dot…
The People’s Bank of China’s (PBoC) Monetary Policy Committee said on Friday that they will cut the reserve ratio requirements (RRR) and interest rates at proper time, per Reuters. Key takeaways “Recommending strengthening intensity of monetary policy adjustments.” Will strengthen implementation of interest rate policies to promote steady decline in corporate financing and household credit costs.” “Will maintain Yuan exchange rate basically stable.” “Will enhance resilience of FX market, stabilise market expectations, strengthen market management.” “Will enrich and improve monetary policy toolkit, conduct buying and selling of treasury bond, and monitor changes in long-term yields.” “Will promote stabilisation and recovery of…
Canadian Dollar Futures (6C Mar 2025): Day Trading Analysis and Key Levels [Jan 03, 2025]The Canadian Dollar Futures (6C March 2025) are currently trading at 0.69610, testing yesterday’s Value Area High (VAH) at 0.69605, which may act as a temporary support level. Below is an analysis of key levels for today and possible scenarios for both bulls and bears.Key Levels for Canadian Dollar Futures TodayBullish Levels to Watch0.69659: Today’s developing VWAP, acting as an initial resistance level. Sustained trading above this level indicates potential bullish momentum.0.69665–0.69670: The Value Area High (VAH) of two and four days ago. Bulls must break…