Author: FX
Prior +5.4%Market index 224.0 vs 225.5 priorPurchase index 157.1 vs 154.9 priorRefinance index 617.5 vs 634.0 prior30-year mortgage rate 6.75% vs 6.67% priorOverall mortgage applications fell in the past week but there is a mixed showing. Purchases activity were higher, recovering from the setback in the week prior but refinancing activity fell after the big surge seen in the first week of December here. This article was written by Justin Low at www.forexlive.com. Source link
Gold finds support at $2,630 but remains capped ahead of the Fed’s decision. The market is bracing for a Fed “hawkish cut” that might boost the US Dollar and weigh on Gold. XAU/USD remains under pressure, with upside attempts capped below $2,665. Gold (XAU/USD) is practically flat on Wednesday after bouncing up from a one-week low the previous day. The precious metal remains on the defensive as the market braces for the outcome of the last Federal Reserve’s (Fed) meeting of the year.The Fed is widely expected to cut interest rates by 25 basis points (bps), but the economic and…
Olena_T Stock futures ticked higher in Wednesday’s premarket session as market participants eagerly awaited the Federal Reserve’s highly anticipated December interest rate decision, which is expected to influence market direction heading into the new year. Here are some of Wednesday’s biggest Source link
LONDON (Reuters) -British inflation rose to its highest in eight months in November but an underlying measure of price growth watched closely by the Bank of England held steady, offering the central bank a little bit of relief. Consumer prices rose by an annual 2.6% in November, up from an increase of 2.3% in October and moving further away from September’s 1.7% rise – the first time in almost three and a half years that inflation fell below the BoE’s 2% target. The inflation rate was the highest since March and in line with economists’ expectations in a Reuters poll.…
WTI crude oil recently busted through its descending triangle top, hinting that a rally of the same height as the formation is due. Price is still retesting the former resistance, which might now hold as support. Check out these inflection points I’m watching on the 4-hour chart! WTI Crude Oil (USOIL) 4-hour Chart by TradingView Crude oil bulls appear to be taking the upper hand, as the energy commodity reacted positively to the OPEC+ decision to delay its production hike, easing fears of a global supply glut. However, concerns about China’s weaker-than-expected economic figures and trade concerns stemming from a…
Market watchers still seem to be divided on whether or not the Bank of Japan (BOJ) is finally ready to hike interest rates. Will BOJ Governor Ueda and his fellow policymakers agree to tighten policy this week? Or are they more likely to sit on their hands for the time being? Here’s what analysts are expecting for the December BOJ decision. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source…
There is just one to take note of on the day, as highlighted in bold. However, watch out for the very, very much larger expiries on Friday!The one for today is for EUR/USD at the 1.0500 level once again. And that is likely to help keep price action more muted closer to the figure level before we get to the Fed decision later in the day.But looking out to the rest of the week, just be wary that we do have some extremely large expiries on the board for Friday. In particular, they will be for EUR/USD and EUR/GBP.This is…
After breaking above the 1.5000 psychological level, EUR/CAD is now eyeing a MAJOR area of interest. Will we see the pair extend its gains? Or will bears step in at the 1.5150 resistance zone? We’re taking a closer look at the 4-hour time frame! EUR/CAD 4-hour Forex Chart by TradingView EUR/CAD has been steadily climbing higher after breaking above the R1 level at 1.5006! See, the euro seems to be finding support from the ECB highlighting better-than-expected Q3 growth figures and expressing optimism about future growth prospects, despite removing some hawkish language from its latest statements. This has helped offset…
GBP/JPY turns lower for the second straight day, though it lacks follow-through selling. Reduced bets for aggressive BoE rate cuts in 2025 underpin the GBP and lend support. Expectations that the BoJ will keep rates steady keep the JPY bulls on the defensive. The technical setup supports prospects for the emergence of dip-buying at lower levels. The GBP/JPY cross attracts some intraday sellers following an Asian session uptick to the 195.50 region and turns lower for the second successive day on Wednesday. Spot prices, however, remain close to a nearly four-week high touched on Tuesday and currently trade just below…
The Fed is widely expected to cut its interest rates by 25bps this week. How might the U.S. dollar react to the news, and how can you trade the event? We have the points you need to know! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link