The AUDUSD sets up between levels on the daily chart The AUDUSD moved sharply higher yesterday breaking above a swing era between 0.6628 and 0.68597. The high price reached 0.68928. That was short of the falling 200 day moving average. There moving average currently comes in at 0.69012. Just above that is the 50% midpoint
Month: December 2022
The major US stock indices are trading mixed/little changed at the open. A snapshot of the market is showing: Dow Industrial Average up 65.91 points or 0.19% at 34174.56 S&P index up 4.91 points or 0.12% at 4024.55 NASDAQ index up 3.29 points or 0.03% at 11260.10 Russell 2000 up 0.11 points or 0.01% at
U.S. Federal Reserve Board Chairman Jerome Powell holds a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, September 21, 2022. Kevin Lamarque | Reuters Call it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered
The arrest of the former FTX CEO Sam Bankman-Fried (SBF) by the Bahamian authorities served as a cue for anti-crypto proponents to reignite discussions around the dangers of cryptocurrencies. While some political leaders blame the crypto ecosystem for SBF’s frauds, others find no point in blaming an entire industry for one man’s action. During an FTX hearing in front of
Commodity Participant Association of India (CPAI) has urged capital markets regulator Sebi to facilitate uninterrupted hedging and trading in cotton futures contracts to market participants. This comes after Sebi in August suspended trading in all cotton futures contracts on commodity exchange for one month to align the contract specifications with that of the market. Later,
Dollar is recovering slightly today as focus turns to FOMC rate decision and, more importantly, new economic projections. While the greenback was sold off overnight following consumer inflation data, traders are still holding the larger bets for now. As for the week, Euro and Sterling are the strongest ones so far, followed by Yen. Commodity
Visa says that Ryan McLenerney will become CEO effective from February 1, 2023, and the present CEO Alfred Kelly will become executive chairman. At the end of November, Visa said that US payments rose 9%y/y while it noted November credit grew 10% and debit increased 8%. Will these developments and news help lift Visa’s share
I’ve been keeping an eye on the NZD/JPY chart because it’s been flirting with the best levels since 2015. It was able to break out to a seven-year high today but couldn’t hold onto the upside. After reaching 88.14 the pair is now 24 pips lower to 87.59. The reversal from a new high isn’t
The Financial Times is gated, but here is the link if you can access it: China’s zero-Covid retreat sparks wealth management product sell-off There are reports of withdrawals being frozen amidst a rush for redemptions. — In other China news: China’s National Bureau of Statistics will cancel its November press conference scheduled for 10 am
Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up. The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department
Within the past 24 hours, the Binance cryptocurrency exchange has seen outflows of over $1.14B due to rising fear, uncertainty and doubt (FUD) within the crypto ecosystem. According to Binance CEO Changpeng “CZ” Zhao, the exchange has seen this before and believes “it is a good idea to ‘stress test withdrawals’ on each CEX [Centralized
OPEC on Tuesday stuck to its forecasts for global oil demand growth in 2022 and 2023 after several downgrades, saying that while economic slowdown was “quite evident” there was potential upside such as from a relaxation of China‘s zero-COVID policy. Oil demand in 2023 will rise by 2.25 million barrels per day (bpd), or about
Dollar falls sharply together with treasury yield after US data showed consumer inflation cooled more than expected. Stock futures also jump as reaction. Australian and New Zealand Dollar appear to be leading the way up, followed by Yen and then European majors. The question now is on whether current wave of selloff would sustain pass
The S&P 500, the Nasdaq 100, and the Dow Jones remain positive. Softer than expected, US CPI data augmented speculations that the Fed will be less aggressive. Traders expect the Federal Reserve to hike to 5% and cut rates ahead of Q4 2023. US stocks remained volatile after the release of inflation data in the
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AUDUSD runs higher and above swing area on daily chart Risk on flows on the back of the higher stocks, lower yields, lower dollar. The AUD is just behind the JPY as the strongest of the currencies vs the USD. The AUDUSD is currently up around 1.87%. The JPY is up around 2.0% in volatile
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