Author: FX
Gold price surges to an all-time high, nearing the $2,750 mark, supported by geopolitical tensions and expectations of further Fed rate cuts. Despite rising US Treasury yields, risk aversion and fears of a Trump presidency drive safe-haven demand for Gold. Traders are pricing in 42 bps of Fed rate cuts by year-end with 89.6% odds of a 25 bps cut at the November meeting. Gold prices extended their gains for the fifth day out of the last six and reached an all-time high (ATH) at $2,748, just shy of the psychological $2,750 mark. Geopolitical tensions and expectations that the Federal…
Oct. 22, 2024 3:58 PM ETBy: Liz Kiesche, SA News Editor krblokhin Andrew Left associate Ryan Choi agreed to pay more than $1.8M to settle charges that he negligently engaged in a scheme that misled readers of Citron Research in connection with two tweets published by the platform, the U.S. Securities and Exchange Commission said Source link
Fiserv, Inc. (FISV), a leading global provider of payments and financial services technology solutions, reported a strong financial performance in its Third Quarter 2024 Earnings Conference Call. CEO Frank Bisignano highlighted significant growth with an adjusted earnings per share (EPS) of $2.30, marking a 17% increase from the previous year. Adjusted revenue grew by 7% to $4.9 billion, and the adjusted operating margin improved to 40.2%. The Merchant Solutions segment saw a remarkable 24% organic revenue growth, and the company raised its full-year guidance for organic revenue growth to 16%-17% and adjusted EPS to $8.73-$8.80. Fiserv also announced a partnership…
Closing changes in Europe:Stoxx 600 -0.2%German DAX -0.1%France CAC flatUK FTSE 100 -0.1%Spain IBEX -0.1%Italy’s FTSE MIB -0.6% This article was written by Adam Button at www.forexlive.com. Source link
Crude oil markets may feel oversold, but trend following models hold a war chest of dry-powder to deploy in either direction, TDS’ Senior Commodity Strategist Daniel Ghali notes. Crude oil markets seem oversold “While our return decomposition framework suggests that markets have continued to erode supply risk premia over the last week, geopolitical tensions remain at a boil and traders are awaiting more information on Israel’s targets for a strike against Iran, keeping a floor on prices.” “With prices failing to keep up with downtrend signals, CTAs are still set to cover their shorts this session. The scope for subsequent algo flows…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the EUR/AUD pair within the H1 timeframe. I’ve shared a trade setup image for your…
The dollar is keeping more mixed with light changes being observed overall. There’s not much appetite or follow through, as traders are keeping a watchful eye on the bond market for anything. USD/JPY is one to pay attention to as such but is running up against a key resistance region as outlined here.Besides that, all the other major currencies are stuck in narrower ranges on the day. The antipodeans are up slightly but it’s not really saying a lot after the fall yesterday. AUD/USD is up 0.3% to 0.6678 but is still keeping below its own 100-day moving average of…
The Indian Rupee struggles near all-time lows due to foreign selling in Indian equities. PM Modi is expected to meet with Chinese President Xi Jinping during the BRICS Summit. The Indian Rupee may hold ground if the RBI intervenes in the market by selling US Dollars. The Indian Rupee (INR) holds steady against the US Dollar (USD) on Tuesday, bolstered by the potential for market interventions from the Reserve Bank of India (RBI) that have helped the INR weather equity outflows and the dollar’s strength. However, ongoing foreign selling continues to exert pressure on the INR, while concerns over the…
By Rahul Paswan (Reuters) – Gold prices rose on Tuesday and hovered near a record high hit in the previous session amid uncertainties around the U.S. election, ongoing Middle East tensions, and expectations of central banks’ interest rate cuts. rose 0.4% to $2,729.91 per ounce by 0303 GMT. U.S. rose 0.2% to $2,744.40. Gold hit its all-time high of $2,740.37 on Monday and has gained about 32% so far this year. “A confluence of tailwinds remains in place (for gold), which includes its status as an attractive hedge against U.S. election uncertainties and geopolitical risks, resilient central banks’ demand and…
Our Event Guide for the upcoming BOC decision suggests that Governor Macklem and his team will cut interest rates further in October. But the central bank’s moves may be priced in, leading to potential rallies for the Canadian dollar after the BOC’s event. Here’s why CAD/CHF and EUR/CAD may present legit opportunities in case the decision turns out to be bullish for the Loonie! 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…