Euro weakens broadly today amid signals from ECB officials that a rate cut cycle could commence in June, or even earlier in April. This bearish sentiment towards the common currency heightens the significance of upcoming Eurozone economic data releases, with GDP figures tomorrow and CPI data on Thursday poised to play crucial roles in shaping
Share: What might a breakout above the 200-day moving average and the 38.2% retracement encourage bulls to do? Confirming the Breakout What combination of technical factors encouraged the buyers to take action? What did the bulls’ northward march leave behind on the chart? How high can the price soar in the coming week? If these
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The main story over the weekend was more on the geopolitical front and that is seeing some moves in the commodities. As for FX, things are looking like a bit of a dud as perhaps the pre-FOMC lull is kicking in. Here’s a snapshot of dollar pairs so far today: It’s a quiet one as
Strong economic data in the US capped gains in the yellow metal on Monday which was up on the escalation of tension in the Middle East. Street awaits the impact of higher consumer spending data on its monetary policy announcements, scheduled later this week. Taking cues from the price movement in the international markets, February
Tentative risk-on sentiment is perceptible in Asian session, as Japan’s Nikkei rallied with energy shares lifted by rally in oil prices. Concurrently, stock markets Hong Kong are continuing their near-term rebound, reflecting cautious optimism in the region. Nevertheless, this momentum has not translated into significant activity in the forex markets, which are showing a slow
An employee works in an office at the SAP SE campus in Walldorf, Germany. Bloomberg | Getty Images Shares of German software company SAP jumped to an all-time high in early deals Wednesday after the company released its latest financial results and announced plans to restructure 8,000 jobs in a push toward artificial intelligence growth.
Share: USD/CHF loses ground on risk aversion sentiment. US Dollar remains stable despite downbeat US bond yields. Market expects that the Fed will initiate a rate-cut cycle in March. The USD/CHF continues to lose ground for the second straight session, edging lower to near 0.8640 during the Asian hours on Monday. The Swiss Franc (CHF)
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Spot gold closed with a minor loss of $2 at $2018 on Friday. Much awaited US December core PCE deflator inflation data, the Fed’s preferred gauge of inflation, came in at 2.9%, slightly below the forecast of 3% and the previous reading of 3.2%. The headline index remained steady at 2.6%, which was in line
In this article NOKIA-FI Follow your favorite stocksCREATE FREE ACCOUNT Nokia new logo displayed on mobile, with Nokia logo on screen. Nurphoto | Nurphoto | Getty Images Nokia on Thursday said that it will begin a two-year 600 million euro ($653 million) share buyback this quarter, after reporting that its profit plunged in 2023. Nokia
Share: AUD/USD ends week down 0.33%, unable to hold above 0.6600, range-bound. Struggle to sustain gains above 200-DMA (0.6576); potential for upward trend watched closely. Key supports at 0.6551, 0.6524; rebound above 200-DMA may aim for resistances at 0.6620, 0.6652. The AUD/USD finished Friday’s session on the back foot, down more than 0.15%, for a
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In the kickstart video, I take a look at three other major currency pairs from a technical perspective – the EURUSD, USDJPY and GBPUSD. There was a slew of economic data in the US highlighted by the Advanced GDP for the 4th quarter which showed strong growth and tame inflation, and initial jobless claims which
I’m surprised that Trafigura was still transiting the Red Sea with oil but I suspect they won’t be anymore. The company said firefighting equipment on board is being deployed to control a fire caused in one cargo tank on the Marlin Luanda, which is an oil tanker. Marlin Luanda The ship was reportedly carrying naphtha
The year 2023 was not the best of times for base metals. Besides copper, which managed to hold ground, most other base metals experienced a tough period due to China’s economic woes, feeble global growth outlook, higher interest rates and oversupply fears. Copper ended the previous year with a gain of 2% while aluminium and