Visa says that Ryan McLenerney will become CEO effective from February 1, 2023, and the present CEO Alfred Kelly will become executive chairman. At the end of November, Visa said that US payments rose 9%y/y while it noted November credit grew 10% and debit increased 8%. Will these developments and news help lift Visa’s share
I’ve been keeping an eye on the NZD/JPY chart because it’s been flirting with the best levels since 2015. It was able to break out to a seven-year high today but couldn’t hold onto the upside. After reaching 88.14 the pair is now 24 pips lower to 87.59. The reversal from a new high isn’t
The Financial Times is gated, but here is the link if you can access it: China’s zero-Covid retreat sparks wealth management product sell-off There are reports of withdrawals being frozen amidst a rush for redemptions. — In other China news: China’s National Bureau of Statistics will cancel its November press conference scheduled for 10 am
Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping the economy is beginning to loosen up. The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, the Labor Department
Within the past 24 hours, the Binance cryptocurrency exchange has seen outflows of over $1.14B due to rising fear, uncertainty and doubt (FUD) within the crypto ecosystem. According to Binance CEO Changpeng “CZ” Zhao, the exchange has seen this before and believes “it is a good idea to ‘stress test withdrawals’ on each CEX [Centralized
OPEC on Tuesday stuck to its forecasts for global oil demand growth in 2022 and 2023 after several downgrades, saying that while economic slowdown was “quite evident” there was potential upside such as from a relaxation of China‘s zero-COVID policy. Oil demand in 2023 will rise by 2.25 million barrels per day (bpd), or about
Dollar falls sharply together with treasury yield after US data showed consumer inflation cooled more than expected. Stock futures also jump as reaction. Australian and New Zealand Dollar appear to be leading the way up, followed by Yen and then European majors. The question now is on whether current wave of selloff would sustain pass
The S&P 500, the Nasdaq 100, and the Dow Jones remain positive. Softer than expected, US CPI data augmented speculations that the Fed will be less aggressive. Traders expect the Federal Reserve to hike to 5% and cut rates ahead of Q4 2023. US stocks remained volatile after the release of inflation data in the
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Last week I interviewed one of Japan’s most successful Forex traders. During our interview, he shared with me the secret to successful scalping in Forex trading. Yuuya Kato is one of the most successful traders I’ve ever met, and he’s an incredibly consistent trader who understands the market. He’s also a 15 time funded prop
AUDUSD runs higher and above swing area on daily chart Risk on flows on the back of the higher stocks, lower yields, lower dollar. The AUD is just behind the JPY as the strongest of the currencies vs the USD. The AUDUSD is currently up around 1.87%. The JPY is up around 2.0% in volatile
Natural gas traders have been carefully watching emerging forecasts that show a brutally-cold Christmas in much of the US but I think the broader market will soon tune in. Here’s a composite of the major weather models from Bamwx.com and it highlights what is coming. The peak of the cold is set to hit right
New Delhi: Gold prices edged up on Tuesday on the back of a softer dollar, although prices moved in a tight range as investors maintained caution ahead of US inflation data and the Federal Reserve’s policy decision. Focus shifts on to the US consumer price index (CPI) data for November due later in the day
Yen is so far the clearly weaker one in otherwise ranging markets. Rebound in US stocks and treasury yield overnight was a factor in Yen’s selling. But after all, there is no follow through weakness for now. Traders are generally still cautious ahead of the four central bank meetings later in the week. Before that,
EUR/USD failed to make a decisive move in either direction and closed the day flat. Economists at ING highlight two key technical levels to watch. 200-Day Moving Average is now at 1.0350 “If we were to pick out two levels, we would say the 1.0600/10610 area is key resistance. A close above that on a
The USDJPY is trading at new highs and in the process is testing the highs from last week at 137.85. The high price just reached 137.836. USDJPY back above the broken 38.3% retracement Looking at the daily chart, the price has also moved back above the broken 38.2% retracement of the 2022 trading range at
Japanese Trade and Industry Minister Nishimura remarks relating to chip-related export curbs to China. will take appropriate measures on chip-related export curbs to China taking into consideration each country’s regulations checking with Japanese companies on the impact of chip curbs on China, we are not hearing of any major impact in discussion with US Commerce