GBPUSD trades back above the 100/200 hour MA The GBPUSD is following the dollar lower moves seen as yields in the US tumble. the market is discounting the comments from Fed Chair Powell and thinking more in terms of slower growth/higher unemployment. The regional banking concerns are also helping to send funds into treasuries, weakening
Month: February 2024
The parameters of an Israel-Gaza ceasefire aren’t yet but the oil market isn’t waiting for confirmation. WTI has fallen to $74.28 from $76.74 before the headlines. That’s wiped out the late-January gains. oil 10 mins The drop in oil isn’t so much about Gaza and Israel; it’s more about the violence that has been set
Global oil prices climbed in early trade on Thursday, supported by signals from the U.S. Federal Reserve on a possible start to rate cuts and as China unveiled new support measures for its embattled property market. Brent crude futures rose 46 cents, or 0.6%, to $81.03 a barrel and U.S. West Texas Intermediate crude futures
Sterling is currently trading with indecisiveness following BoE’s rate decision, which has provoked mixed reactions in the markets. The decision, notable for its combination of hawkish and dovish signals, resulted in a rare three-way voting split—the first occurrence since 2008—with two members favoring a rate hike, one a cut, and the rest opting for no
A UPS driver makes a delivery on January 30, 2024 in Miami Beach, Florida. Joe Raedle | Getty Images Companies announced the highest level of job cuts in January since early 2023, a potential trouble spot for a labor market that will be in sharp focus this year, according to a report Thursday from Challenger,
In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Apple CEO Tim Cook holds a new iPhone 15 Pro during the Wonderlust event at the company’s headquarters in Cupertino, California, on Sept. 12, 2023. Loren Elliott | Reuters Apple reports fiscal first-quarter earnings after the bell. The quarter, which ends in December, is Apple’s
Share: Mexican Peso appreciates against the Dollar, driven by the recent Fed decision and softer US employment figures. Banxico’s survey indicates expectations of a rate cut to 9.25% and a year-end exchange rate forecast of 18.50, influencing market sentiment. Mexico’s manufacturing sector shows expansion with a slowdown, contrasting with US data that points to a
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There are plenty of mixed opinions about how the bank rate vote is going to pan out but one thing is for sure. That is the BOE is not going to make any changes to the bank rate today. It will remain at 5.25% as policymakers continue to deliberate their next steps. So, let’s take
Gold prices fell on Thursday after the US Federal Reserve dashed Street’s hope of any rate cut in March, reiterating its priority of a 2% inflation target. The move strengthened the dollar index (DXY) taking sheen off the yellow metal. Taking cues from the price movement in the international markets, April MCX gold futures were
Australian Dollar encountered significant headwinds in today’s Asian session, weighed down by the latest Australian Q4 CPI data. The lower than expected inflation confirmed that RBA would hold interest rate unchanged in the forthcoming meeting next week. The central bank could also be finally ready to indicate completion of the tightening cycle. Market speculation is
Cargo trains stand on the railway tracks at a transshipment station in Frankfurt am Main, western Germany, as in background can be seen the city’s skyline, on January 23, 2024. Kirill Kudryavtsev | Afp | Getty Images The euro zone economy stabilized in the fourth quarter of 2023, flash figures published by the European Union’s
In this article QCOM Follow your favorite stocksCREATE FREE ACCOUNT Qualcomm CEO Cristiano Amon responds to a question during a keynote conversation at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, on Jan. 10, 2024. Steve Marcus | Reuters Qualcomm reported fiscal first-quarter results on Wednesday that topped analysts’ estimates as
Share: USD/CAD trades in positive territory for two straight days, adding 0.03% on the day. The pair is poised to cross above the key EMA; RSI indicator returns to bullish territory above the 50-midline. The first upside barrier is located at 1.3460; 1.3395 acts as an initial support level for USD/CAD. The USD/CAD pair extends