Author: FX

The US Dollar trades stable in very calm holiday trading on Friday. Monthly Industrial Production in Japan fell by 2.3%, less than the expected 3.5%, while big Chinese manufacturers also reported falling profits. The US Dollar Index (DXY) briefly slipt below 108.00, remains close to a two-year high. The US Dollar (USD) is trading a touch softer this Friday, with the DXY index unable to hold position above 108.00, as markets remain cautious and trading desks are short-staffed due to the Christmas holiday. The Dollar failed to react to more action in Asian markets, with data signaling further contraction in…

Oil prices are up over 1.00% this Friday ahead of last Oil data points for 2024.  Key US Oil data will be released Friday, with expectations for another draw down.  The US Dollar Index trades flat and resides just above 108.00, heading into New Years Eve next week.  Crude Oil prices are speeding higher on Friday in the US trading session, with markets bracing for a batch of data releases in the US trading session, including stockpile data from the Energy Information Administration (EIA), which was moved due to the Christmas Day holiday on Wednesday. While other asset classes are seeing low…

Stock heatmap by FinViz.com Fri, 27 Dec 2024 14:46:03 GMTTech and Consumer Cyclicals Lead Today’s Market DeclinesToday’s market landscape saw notable declines in tech and consumer cyclical sectors, with significant drops across major stocks. Investors appear cautious as uncertainties loom across various sectors.📉 Technology Sector: Under Significant PressureAcross the technology sector, widespread declines were observed. Key players such as Microsoft (MSFT) dropped by 0.79%, while Nvidia (NVDA) experienced a notable decline of 1.02%, indicating bearish sentiment. Oracle (ORCL) also slumped by 0.47%, contributing to sector-wide caution.🚗 Consumer Cyclical SetbacksThe consumer cyclical sector was not spared, with Tesla (TSLA) leading the…

The Pound Sterling rises even though investors expect the BoE to follow a less gradual policy easing cycle in 2025 than previously anticipated. Traders project at least two BoE interest rate cuts of 25 bps next year. US Initial Jobless Claims surprisingly fell to 219K last week. The Pound Sterling (GBP) gains against its major peers on Friday, with investors looking for fresh cues about how the Bank of England (BoE) will follow the interest rate cut path in 2025. The latest BoE policy announcement in mid-December indicated a dovish buildup as the nine Monetary Policy Committee (MPC) voted 6-3 to keep interest…

The major US stock indices are opening lower with the Nasdaq index trading down near 1% on the day. A snapshot of the market 5 minutes into the open :Dow industrial average -200.03 points or 0.45% at 43125.77S&P -43.20 points or -0.72% at 5994.39Nasdaq -200.68 points or -1.00% at 19819.68Russell 2000 -14.32 points or -0.63% at 2265.86Some losers today: Nvidia, -1.73%Microsoft, -1.51%Amazon, -1.38Meta, -1.12% %Alphabet, -1.12%Apple -1.79% Apple, -0.79% Tesla, -2.22%Netflix, -2.25% This article was written by Greg Michalowski at www.forexlive.com. Source link

US equities battled back after a slump at the open yesterday and they will have to do it again today.S&P 500 futures are down 33 points, or 0.6% in the premarket. Today is the third-last trading day of the year but and it’s notable that settlement changes now make Monday as the final day for trades to settle in 2024.So far this month, the S&P 500 is up 0.1% but that will be erased at the open. Source link

(Reuters) – OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent. Under the proposed structure, the public benefit corporation (PBC) will run and control OpenAI’s operations and business, while the non-profit will hire a leadership team and staff for charitable initiatives in sectors such as health care, education and science. OpenAI, among the world’s most valuable startups, started in 2015 as a research-focused non-profit but has since been looking to make structural…

USD/CAD consolidates around 1.4400 on a thin trading volume day. The Fed sees two interest rate cuts next year amid improving economic conditions. The BoC has already reduced its key borrowing rates by 125 bps this year to 3.25%. The USD/CAD pair trades in a tight range around 1.4400 in Friday’s European session. The Loonie pair consolidates as trading activity has muted in a holiday-curtailed week. The US Dollar (USD) trades sideways, but its outlook remains broadly firm on expectations that the Federal Reserve (Fed) will take a slower path of interest rate cuts compared with other central banks. The…

AltimaCRM by Intivion Technologies, one of the most innovative Forex CRM solutions on the market, will be attending the upcoming iFX EXPO Dubai 2025. Held on January 14-16 at the Dubai World Trade Centre, AltimaCRM will be showcasing its cutting-edge management tools to a global audience of brokers, prop firms, trading platform providers, and more. Attendees looking for scalable CRM solutions for Forex brokers can book a meeting to explore AltimaCRM or head over to Booth #30 during the event.Intivion already has over 300 integrations including but not limited MT5, MT4, TradingView and Trading Central, striking several key partnerships and…

By Alex Lawler LONDON (Reuters) -Oil rose slightly on Friday and was on track for a weekly gain, spurred by expectations of a stimulus-driven economic recovery in China, the world’s biggest oil importer, and by forecasts of lower U.S. inventories. Analysts polled by Reuters had expected stocks to have declined by about 1.9 million barrels last week and market sources said the American Petroleum Institute put the decline at 3.2 million barrels. futures were up 4 cents at $73.30 a barrel by 0912 GMT. U.S. West Texas Intermediate crude was at $69.81, up 19 cents from Thursday’s close. For the…