EUR/USD weakens near 1.0835 in Wednesday’s early Asian session. ECB’s Guindos hinted at a possible interest rate cut in September. US S&P Global Manufacturing PMI dropped to 49.5; Services PMI improved to 56 in July. The EUR/USD pair trades in negative territory for the third consecutive day around 1.0835 during the Asian session on Thursday.
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NASDAQ bounces off 38.2% and fills a gap The NASDAQ index move down to a low of 17352.93. In a prior post I outlined the area as a target level. The level corresponds with the 38.2% retracement of the move-up from the May low. That level comes in at 17353.82. It also corresponds roughly with
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Falling U.S. crude inventories caused oil prices to rebound on Wednesday after several days of decline, while expectations for a nearing ceasefire deal in the Middle East kept prices from continuing to climb. Brent crude futures for September rose 46 cents to $81.47 a barrel by 0020 GMT. U.S. West Texas Intermediate crude for September
Yen continues to dominate the forex markets today, with speculation heating up ahead of next week’s BoJ meeting. According to a Reuters report, unnamed sources have confirmed that a rate hike will be debated at the meeting. However, the decision is expected to be a “close call,” described as a “judgment call” on whether to
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, US, on Thursday, May 16, 2024. Alex Kent | Bloomberg | Getty Images Wall Street’s favorite recession signal started flashing red in 2022 and hasn’t stopped — and thus far has been wrong every step of the way. The yield
In this article F Follow your favorite stocksCREATE FREE ACCOUNT The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT – Ford Motor is set to report second-quarter earnings after the markets close Wednesday. The Detroit automaker’s results are expected to be relatively healthy, although down
S&P 500 had visible trouble extending Monday‘s gain far, and no rally into key earnings served as warning. The relief rally following very weak opex Friday, seems to have run its course – and downside risks are reappearning again, meaningfully. GOOG earnings were welcome on the financial side, but then fatigue over AI expenses contribution
Fundamental Overview Crude oil has been under sustained pressure since the beginning of July. Things got even worse as Trump’s odds of winning soared after the failed assassination attempt. He is a great supporter of the “drill, baby, drill” slogan and he will likely put an end to the war in Ukraine if he gets
But alas, the ECB has to keep their focus on inflation pressures first and foremost. If growth expectations were the main argument, there would be a strong reason to push with a rate cut in September after the PMI data earlier. Instead, the situation now presents a bit of a headache for the central bank.
Gold August futures and silver September futures on MCX opened flat today after experiencing sharp declines yesterday post a cut in the custom duty announced in the Union budget. The former opened 0.38% or Rs 262 higher at Rs 68,772 per 10 gram while the latter was up by 0.38% or Rs 321 at Rs
Yen’s rally accelerates again in Asian session today, driven by stronger-than-expected PMI services data, which bolsters the argument for a BoJ rate hike next week. While opinions vary on the exact timing of the rate move, with some economists forecasting a move in September or October, all would agree that an early hike this month
Bank of Santander Headquarters Getty Images Banco Santander posted a 20% year-on-year hike in second-quarter net profit underpinned by growth in its retail, wealth and consumer activity, after firm revenues and margin management in Europe and Brazil. The company’s net profit attributable to the parent group came in at 3.207 billion euros ($3.48 million), in
USD/JPY advances near 155.85 in Wednesday’s early Asian session, up 0.24% on the day. The higher possibility of a BoJ interest rate hike might support the Japanese Yen. Investors will monitor the US preliminary S&P Global PMIs for June, which is due later on Wednesday. The USD/JPY pair trades on a stronger note around 155.85, snapping the
Earlier this month, I did a series of posts, following the trend of the GBPJPY on a trend move higher. The move to the upside was helped by dips finding support against the 100-hour MA. That continued until it didn’t and the technical story changed. Here is the succession of posts. https://www.forexlive.com/technical-analysis/the-gbpjpy-is-trading-at-highest-level-since-2008-and-bounced-off-support-todaywhat-next-20240705/ https://www.forexlive.com/technical-analysis/has-the-song-remained-the-same-for-the-technicals-driving-the-gbpjpy-trend-move-higher-20240708/ https://www.forexlive.com/technical-analysis/gbpjpy-still-remains-above-the-100-hour-ma-20240709/ https://www.forexlive.com/technical-analysis/gbpjpy-continues-its-run-to-the-upside-hints-of-a-top-yesterdayfails-20240710/
Snippet via HSBC on likely potential tailwinds for stockmarkets globally in this second half the year. Analysts at the bank say their discussion with clients indicate to much attention being paid to downside risks, and overlooking 5 key potential triggers for higher prices yet to come: Earnings reports remain positive The ‘Goldilocks macroeconomic landscape to
On the day of the Union Budget, Gold August futures at MCX opened flat at Rs 72,838 per 10 gram, rising by 0.17% or Rs 120, while the silver September futures at MCX opened 0.21% or Rs 191 lower at Rs 89,012/kg. Gold prices have fallen by Rs 1,500/10gm in the last one week whereas
Japanese Yen continues to stand out as the strongest currency, in another day with a lackluster economic calendar. However, it’s Dollar that’s capturing market interest as markets enter into US session, where it has shown notable gains against major counterparts like Euro and Swiss Franc. Break of near term levels in both EUR/USD and USD/CHF