Author: FX
bombermoon/iStock via Getty Images JinkoSolar (NYSE:JKS) -8.1% in Friday’s trading to a two-month low after estimating FY 2024 net income will total between 80M yuan and 120M yuan ($10.92M-$16.37M), equating to a 98.4%-98.9% decline. The company also expects to report full-year preliminary unaudited net loss attributable Source link
By David Shepardson WASHINGTON (Reuters) -A group representing major automakers said on Friday it filed a lawsuit to block a landmark rule from the administration of President Joe Biden requiring nearly all new cars and trucks by 2029 to have advanced automatic emergency braking systems. The Alliance for Automotive Innovation, representing General Motors (NYSE:), Toyota Motor (NYSE:), Volkswagen (ETR:) and other automakers, said the rule finalized in April by the National Highway Traffic Safety Administration is “practically impossible with available technology.” The group asked the U.S. Court of Appeals for the District of Columbia to overturn the rule. NHTSA declined…
Pound Sterling tumbles as decline in UK Retail Sales sets stage for BoE rate cuts The Pound Sterling (GBP) falls sharply against its major peers on Friday as the United Kingdom (UK) Office for National Statistics (ONS) reported that Retail Sales surprisingly contracted in December, another data that adds to the weak economic outlook. The Retail Sales data, a key measure of consumer spending, declined by 0.3% month-on-month. Economists expected the consumer spending measure to have risen at a faster pace of 0.4% than 0.2% growth in November. Read More… GBP/USD Price Forecast: Remains below 1.2250 barrier near nine-day EMA…
EUR/USD dips and lands around 1.0285 amid fading upside impetus. RSI edges up, still confined in negative territory and signaling lukewarm buying interest. MACD histogram remains flat with green bars, highlighting a lack of compelling bullish follow-through. The EUR/USD pair struggled to maintain upward momentum on Friday, slipping by 0.20% to settle around the 1.0285 mark. Efforts to break decisively above the 20-day Simple Moving Average (SMA) once again fell short, underscoring persistent headwinds facing any near-term recovery. While the pair has managed to avoid a more pronounced sell-off, the market’s appetite for stronger gains appears muted. On the technical…
EUR/JPY finds support at Ichimoku cloud bottom, trading capped at upper edge at 161.45. Bearish momentum noted; faces resistance at 161.00 and 50-day SMA at 161.75. Decline below Ichimoku cloud could test deeper supports at 156.16 and 154.39. The EUR/JPY bottomed near 159.69 and rose past 160.50 on Friday after registering two consecutive days of losses as risk appetite deteriorated. At the time of writing, the cross-pair trades at 160.82, up 0.69%. EUR/JPY Price Forecast: Technical outlook The EUR/JPY trades sideways, capped on the downside by the Ichimoku cloud (Kumo) near the daily low and peaked at the top of…
The Euro (EUR) is little changed against the US Dollar (USD) on Friday, holding around the mid-point of Wednesday’s wide range, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Charts show tentatively positive signals”ECB Governor Nagel commented a little earlier that the central bank should not rush rate cuts, echoing Holzmann’s remark earlier this week. Nagel said that inflation was still elevated and uncertainty was high. Eurozone CPI was finalized at 2.4% in the December year earlier, in line with the preliminary data.” “Spot has swung in a 50/60 tick range around 1.03 for much of the week. Short-term patterns suggest…
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Euro strengthens, trades above 200-day SMA at 0.8425, signaling bullish momentum against Pound. Bulls target January 15 high at 0.8463; breaking this could extend to 0.8500 and higher. If EUR/GBP falls below 200-day SMA, may drop to 0.8400, with support at January 14 low of 0.8383. The Euro extended its gains versus the Pound Sterling on Friday, posting back-to-back bullish bars and climbing above the crucial 200-day Simple Moving Average (SMA) at 0.8425. This indicates bullish momentum is building as the EUR/GBP trades at 0.8443. EUR/GBP Price Forecast: Technical outlook Bulls are in charge but must clear the January 15…
Fundamental OverviewThe USD has been unusually resilient this week despite lots of negative catalysts. The US PPI and Core CPI came in on the softer side which saw the market increasing the easing expectations from 24 bps before the data to 37 bps after. Moreover, yesterday Fed’s Waller delivered some surprisingly dovish comments saying that a rate cut could come in the first half of this year if the inflation data continues to show improvement and that a March cut cannot be completely ruled out.The market pricing increased to 42 bps by year end as a result which is now…
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $30.54 per troy ounce, down 0.87% from the $30.80 it cost on Thursday. Silver prices have increased by 5.68% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 30.54 1 Gram 0.98 The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 88.74 on Friday, up from 88.17 on Thursday. Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a…