USD The Fed left interest rates unchanged as expected with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. Fed Chair Powell maintained a neutral stance as he said that it was
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High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support. Front-month Brent crude futures due to expire on Thursday were 11 cents down at $86.64 a barrel by 1415 GMT while
Risk-on sentiment is pressuring e Swiss Franc and, to a lesser extent, Yen and Dollar today. DAX soared to new record highs, undeterred by the latest weak German consumer sentiment data, while CAC and FTSE are also marking gains. Similarly, the CAC and FTSE indices are registering gains, with U.S. futures indicating a positive start
The Australian Bureau of Statistics (ABS) will release the Monthly Consumer Price Index (CPI) Indicator for February on Wednesday, March 27 at 00:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers of six major banks regarding the upcoming inflation data. Monthly CPI is expected to grow
This is scheduled to take place on Wednesday this week. The meeting is reportedly proposed by the chief executive of US insurer Chubb, Evan Greenberg. And the other outside attendees will include Stephen Orlins, president of the National Committee of US-China relations, and Craig Allen, president of the US-China Business Council. Beijing had just hosted
Tracking weakness from its offshore peers, gold prices traded in the red in the opening trade on Tuesday. The street remains cautious ahead of the inflation data due for a release in the US later this week. Softness in the yellow metal over the last few sessions has been on account of dollar uptick The
The forex markets display a calm demeanor in the Asian session, with most major pairs and crosses gyrating in very tight ranges. Australian Dollar finds modest support from the state orchestrated rebound in Chinese Yuan. However, this lift hasn’t translated into clear momentum for an extended rally in Aussie. Meanwhile, Yen continues to pare back
Unlocking ASX Trading Success: FORTESCUE LTD – FMG Stock Analysis & Elliott Wave Technical Forecast Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with FORTESCUE LTD – FMG. We have identified that wave (v) may return to FMG to continue pushing higher, but it needs to be monitored closely until the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices rose on Monday, driven by expectations of interest rate cuts by the U.S. Federal Reserve this year even as traders await inflation readings this week for confirmation on the timing of these reductions. Spot gold gained 0.5% to $2,175.68 per ounce as of 11:42 a.m. EDT (1542 GMT), while silver rose 0.2% to
Mild risk-off mood is seen in the global financial markets today, starting from the the noticeable retreat in Japan’s Nikkei, then the marginal declines across European stock indices, alongside soft US futures. However, this sense of caution has not significantly rippled through the currency markets, where activity remains largely subdued. Notably, most major currency pairs
Economists at Société Générale analyze Gold (XAU/USD) technical outlook. Pause likely short-lived Gold recently gave breakout above multi-year rectangle denoting resumption in uptrend. It has staged an initial pullback after facing interim hurdle at $2,230 last week. Signals of large downside are not yet visible. Upper part of the pattern at $2,075/$2,065 should be a
BTCUSD 4 hourly chart shows a failed breakout Bitcoin’s recent price action on the 4-hour chart presents a fascinating narrative of a failed breakout, highlighting the constant battle between bulls and bears in the cryptocurrency market. Here’s an in-depth look at the technical analysis of Bitcoin’s performance and what traders might anticipate next. Bitcoin’s Failed
The dollar managed a solid rebound towards the end of last week and is holding on to that coming into this week. Things are fairly calmer today, with light changes overall seen in the major currencies space. The dollar remains steady, as it looks to procure the next leg higher after last week’s moves. So
Gold dipped on Friday as the dollar strengthened, but was on track for a weekly gain after rallying to a record high in the previous session in the wake of the U.S. Federal Reserve‘s rate cut plans. Spot gold was down 0.9% at $2,160.63 per ounce as of 2:13 p.m. EDT (1813 GMT), and was
USD/CAD attempts to continue its winning streak on Monday. Fed member Bostic forecasted only one interest rate cut instead of his earlier projection of two rate cuts in 2024. The higher WTI price might have provided support for the Canadian Dollar. USD/CAD maintains its position in positive territory after paring back some gains on Monday.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not