Dollar fell to its lowest level of the year and breached a critical support, after being under pressure for most of the week. Yet, it staged a recovery towards the end, closing mixed only. Decelerating US inflation data was welcomed by risk market investors, but a lower terminal rate may not necessarily lead to an
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Share: The US Dollar Index found bids at around the YTD lows at 100.788. USD bulls must retake 104.000 to challenge YTD high at 105.883 and maintain a double-bottom approach. Contrarily, USD bears must reclaim 100.788 to test the 200-week EMA at around 99.117. The US Dollar Index (DXY), a basket of six currencies against
In this video, I look at the recent S&P 500 technical analysis and provide a price forecast based on the findings (spoiler: IMHO, we are headed to 4200). A surprising selloff occurred following a rally on Friday, and we’ll explore the reasons behind it while considering possible future price movements. Key Points within the S&P
I love a chart out today from Dario Perkins and MD Global Macro highlighting that there’s no single playbook for reacting to Federal Reserve rate cuts. Assuming that May is the final hike, the next trade will be reacting to cuts. “When the Fed cut rates, history says the stock market can go up, down,
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview at the JPMorgan Global High Yield and Leveraged Finance Conference in Miami, Florida, US, on Monday, March 6, 2023. Marco Bello | Bloomberg | Getty Images JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell
Bitcoin (BTC) price rallied over 10% between April 9 and April 14, marking the highest daily close in more than ten months. While some analysts may argue the move justifies a degree of decoupling from traditional markets, both the S&P 500 and gold are near their highest levels in over six months. Bitcoin price breaks
COMEX Gold prices started the week on a bearish note, as last week’s NFP data showed that US economy added 236k jobs in March with the unemployment rate dropping to 3.5%, underscoring Fed’s calls for further rate hikes and increasing the odds of 25 basis points in May FOMC meeting. The dollar index also edged
Share: Retail Sales in the United States plunged as Industrial Production decelerated. US Consumer Sentiment improved, but the needle on inflation expectations rose. AUD/USD Price Analysis: Could test 0.6600 with a daily close below 0.6700. AUD/USD reverses its course after failing to break the 200-day Exponential Moving Average (EMA) at 0.68099m re-treating beneath 0.6700. economic
Crude oil settles higher on the week The price of crude futures settled up $0.36 at $82.52. The high price reached $83.12. The low price reached $81.76. The price this week moved up $1.82 or 2.24% The high price this week reached $83.53 reached on Wednesday. That happens to be the falling 200 day moving
Retail sales in the US were weaker than expectations but it was Fed’s Wallers comments which surprised the markets more. Waller said that recent data show Fed hasn’t made much progress on inflation , and followed that up with more hikes are needed. That was hikes…not another hike. So although the market has been tolerating
In this article WFC Follow your favorite stocksCREATE FREE ACCOUNT Three Wells Fargo ATM’s on 14th street, New York City. Lindsey Nicholson | Universal Images Group | Getty Images Wells Fargo reported growing profits Friday as the bank benefited from higher interest rates, despite building up loan loss reserves. Here’s how the bank did compared
Gold prices held near one-year highs on Friday as recent U.S. economic data reinforced hopes that the Federal Reserve was close to the end of its rate-hiking cycle, which drove non-yielding bullion towards a second straight weekly rise. Spot gold was down 0.2% at $2,034.89 per ounce by 1108 GMT, with prices hovering below last
Dollar is attempting to rebound in early trading sessions, as market sentiment is shaken by disappointing US retail sales data. Furthermore, a top Fed official has cautioned that interest rates could remain high for a more extended period than previously anticipated by the market. Nevertheless, the greenback continues to be one of the week’s worst
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