Author: FX
U.S. federal budget shortfall widens further in November Source link
Investing.com — Tesla Inc (NASDAQ:), hit a record high Wednesday as the EV maker continues its post-election surge on bets that CEO Elon Musk’s close relationship with president-elect Donald Trump will benefit Tesla. Tesla jumped more than 3% to $415.57, following a 64% jump since Donald Trump’s election victory last month that has seen the company’s market cap jump by more than $500B to $1.3T. Musk, who threw his weight behind Trump’s during the election campaign, has “significant influence” in the Trump White House, Wedbush said in a note earlier this month. The “golden path for Tesla around Cybercabs and autonomous is…
TOP PANEL: SPX & Volatility Stops BOTTOM PANEL: % of SPX stocks > 20 MA , NYSE A/D line Section 1: The market has bad brea(d)th When it comes to the market’s foundation, things aren’t looking as strong as they seem. The middle panel of the chart highlights the cumulative NYSE A/D line, which tracks the net number of advancing vs. declining stocks on the NYSE. Right now, it’s flashing a warning: despite the index hitting new highs, the A/D line isn’t confirming this move (highlighted in red). In the third panel, the percentage of SPX stocks trading above their 20-day EMA…
The USDJPY continues to keep both buyers and sellers engaged in a tug-of-war. Following the CPI data release, the price dropped from just above the 200-bar moving average (MA) on the 4-hour chart at 153.79 to briefly break below the converged 100-bar MA on the 4-hour chart and the 200-day MA. However, neither of these technical levels could generate significant momentum during the small breaks.Currently, the price has settled near the midpoint of these levels at 152.43. This back-and-forth action keeps both sides in play, though the overall tilt remains to the upside. Sellers had an opportunity to drive the…
The US Dollar falls back to flat after inflation gauge for November falls in line of expectations. Traders are boosting bets for a rate cut next week from the Fed The US Dollar Index (DXY) is trading near106.50 and falls back from 106.77 earlier. The US Dollar (USD) is falling back to flat on Wednesday after the US Consumer Price Index (CPI) came broadly in line of expectations. No real outliers with the Monthly Headline Inflation coming in at 0.3% while the monthly Core Inflation measure ticked up by 0.3% as well. Immediately after the numbers, the Greenback eased and…
Much has been said about the importance of mastering your trading psychology. And though there are many different ways to accomplish this goal, perhaps the most practical and effective way of doing so is by keeping a psychological trade journal. Used properly, a psychological trade journal can help you track your behavioral tendencies and their usual outcomes. This is important because being aware of these patterns can help you pinpoint your sources of distress. As they say, “Knowing is half the battle.” Once you have knowledge of what causes distress, you can make the proper adjustments to keep negative situations…
BEIJING (Reuters) – The foundation for a “basically stable” yuan exchange rate remains “solid,” according to an article published by Financial News, the People’s Bank of China’s publication, on Wednesday. The foreign exchange market is operating steadily, and the yuan is likely to stabilise and strengthen towards the end of this year, the article said. China’s top leaders and policymakers are considering allowing the yuan to weaken in 2025 as they brace for higher U.S. trade tariffs as Donald Trump returns to the White House, Reuters reported earlier on Wednesday. Source link
Fundamental OverviewThe US Dollar continues to consolidate around the highs although it’s stronger against the commodity currencies. In the bigger picture, the market reached the peak in the repricing of interest rates expectations, and it will need stronger reasons to price out the remaining rate cuts for 2025.In fact, despite lots of strong US data, the market’s pricing remaining largely unchanged around three rate cuts by the end of 2025. The focus is now on the US CPI report. It looks like the Fed really wants to cut next week before pausing for some months. So, we might need an…
After the inflation numbers in Hungary and the Czech Republic, this morning we also saw the numbers in Romania. November inflation rose from 4.7% to 5.1%, slightly above market expectations, ING’s FX analyst Chris Turner notes. The complete inflation picture “Although inflation should fall again in the coming months, we see the National Bank of Romania returning to rate cuts in the second quarter of next year at the earliest. However, for now, the main theme remains the fiscal and political situation after the election in Romania. This is probably the NBR’s focus for now as well and inflation is more of a…
Performant Financial announces name change to Performant Healthcare to focus on healthcare sector Source link