The EURUSD this week trended lower into Wednesday but found support buyers against its 200-day moving average. The moving average was tested on two separate occasions, and each time buyers leaned and pushed the price higher. The subsequent rise has taken the price back to a swing area between 1.08788 and 1.0894. Move above that
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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
NEW YORK -Oil prices settled slightly lower on Friday but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41. For the
Yen’ decline resume today after release of Japan’s latest CPI data, which suggests that BoJ is not be under immediate pressure to exit its negative interest rate policy. . Economists have noted a crucial aspect of Japan’s inflation dynamics: while cost-push inflation is clearly easing, the transition to demand-pull inflation remains unconfirmed. The market’s attention
In this article AXP Follow your favorite stocksCREATE FREE ACCOUNT Stephen Squeri, chair and CEO of American Express, speaks during an Economic Club of New York event in New York on Nov. 10, 2022. Stephanie Keith | Bloomberg | Getty Images American Express CEO Stephen Squeri on Friday said the credit card company saw “good
Share: The late 2023 rally in AUD/USD has faded somewhat in early 2024. Economists at Danske Bank analyze the pair’s outlook. AUD/USD remains firmly in the hands of global risk sentiment With Australian leading indicators pointing firmly downward, and US economic data still remaining solid, we expect relative rates and growth to weigh on AUD/USD
The major US stock indices are opening higher, but often the highs from the premarket trading. Of note today is the S&P index is once again looking to test its high closing level. That level comes in a 4796.57. The high price today has reached 4799.33, but has backed off. Last week the price moved
Taiwan’s Presidential election was held over the weekend. William Lai, of the pro-sovereignty Democratic Progressive Party (DPP) has been elected President. The party has governed Taiwan for the past eight years. This will be its third consecutive presidential term. Lai won 40% of the vote. Ahead of the main opposition Kuomintang (KMT) party’s Hou Yu-ih
Notwithstanding a Friday uptick, Gold is set to close the week on declines dragged by a higher dollar index (DXY). Today, in the early trade the yellow metal advanced with some softening in the greenback. Taking cues from the international market, MCX February gold futures were trading at Rs 61,884 per 10 grams, up Rs
Sterling fell broadly today following weaker-than-expected retail sales data. Despite this, the British currency’s losses have been somewhat contained, indicating a degree of resilience. Concurrently, Japanese Yen and Australian Dollar are showing attempts to recover, but these efforts lack significant follow-through momentum. The day’s activities seem more reflective of temporary consolidations rather than indicative of
An employer representative at a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11. Eric Thayer | Bloomberg | Getty Images Consumers have grown more confident about the direction of the economy and inflation
Share: The Japanese Yen languishes near its lowest level since November 28 against the USD. Japanese consumer inflation eases as expected and reaffirms bets for a BoJ status quo. A positive risk tone also undermines the safe-haven JPY and lends support to USD/JPY. Reduced bets for a March Fed rate cut and rising US bond
Gold prices were set on Friday for their worst week in more than a month, as the dollar and Treasury yields strengthened after U.S. central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy. FUNDAMENTALS * Spot gold edged 0.1% higher to $2,023.52 per ounce by 0158 GMT.
The NZDUSD trended lower into yesterday’s trade, but after reading it at 200 day moving average near 0.60901, and a swing area between 0.6078 and 0.6085, the selling baby in the price corrected the upside. That move to the upside took the price to an Asian session high of 0.6135. That was short of 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
The forex market displayed relative tranquility in Asian session, with major currencies confined to tight ranges. This subdued atmosphere reflects a degree of stabilization in investor sentiment, mirrored in the performance of major Asian stock indexes which are either experiencing mild recoveries or registering only slight losses. A notable exception to this picture is China’s
Raphael Bostic at Jackson Hole, Wyoming David A. Grogan | CNBC Atlanta Federal Reserve President Raphael Bostic expects policymakers to start cutting rates in the third quarter of this year, saying Thursday that inflation is well on its way back to the central bank’s goal. Bostic, a voting member this year on the rate-setting Federal
Share: The US Dollar trades in the green in the aftermath of the weekly US Jobless Claims. Traders hear Fed’s Bostic call again for a steady-for-longer outlook. The US Dollar Index failed to close above the important technical level of 103.40. The US Dollar (USD) trades slightly higher in the aftermath of US Jobless Claims