The AUDUSD moved sharply higher after stronger CPI data in the Asian-Pacific session. CPI came in at up 1.9% for the quarter. With the central bank targeting 2.0% for the year, the 1.9% is just too high. The YoY inflation moved up to 8.4%. A higher AUD is needed to lower import inflation at least.
If I were to describe it, I’d say that the dollar is on the brink still and that while there are some technical levels being stretched, they aren’t being broken as we look towards the central bank bonanza next week. But even before the end of the week and month-end trading early next week, it
Gold prices were little changed in early Asian hours on Friday, as traders awaited U.S. inflation data due later in the day to gauge the Federal Reserve‘s rate-hike stance. FUNDAMENTALS * Spot gold rose 0.1% to $1,931.95 per ounce, as of 0030 GMT, and was headed for a sixth consecutive weekly gain. U.S. gold futures
Risk-on rallies appear to be taking a breather ahead of the weekend. While US stocks jumped overnight, Asian markets are just mixed. Focuses will turn to US PCE inflation data today. Dollar might try to bounce if there is upside surprise in the report. Yet, the big events are the three central bank meetings next
In this article AAL Follow your favorite stocksCREATE FREE ACCOUNT Employees of American Airlines help check in passengers at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia. Alex Wong | Getty Images American Airlines‘ fourth-quarter profit beat analysts’ expectations as strong travel demand and high fares buoyed results during a turbulent
The daily upside in EUR/USD falters around 1.0900. The greenback looks side-lined ahead of key data releases. US PCE, Core PCE, Consumer Sentiment next of note in the docket. After a brief test of the 1.0900 region earlier in the session, EUR/USD now comes under some mild downside pressure and revisits the 1.0880 zone at
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The USDCAD moved above the 100/200 hour MAs after the BOC said that they would raise rates by 25 basis points but would pause policy for a period of time. The gains fell short of the next topside swing area between 1.3436 and 1.3444. The inability to move above that level, and the subsequent rotation
Summary of CS technicals on the Australian dollar. Medium-term moving averages are close to seeing a bullish cross higher short-term MACD momentum is very strong market is also threatening to break key resistance at 0.7138. A close above here would open up a move to our core objective at 0.7284/7306 next Near-term support 0.7061, below
Oil prices were up in early Asian trade on Thursday as US crude stocks rose less than expected, while a weaker dollar made oil cheaper for non-American buyers. Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while US West Texas Intermediate (WTI) crude futures gained 30 cents to $80.45.
US futures trade higher after a batch of solid economic data. Positive risk sentiment are lifting commodity currencies in general, in particular Aussie. Dollar and Yen are turning softer while European majors are mixed, with Euro lagging behind. In the weekly picture, while Aussie is still the strongest, Dollar and Yen are the weakest. Euro
The U.S. economy finished 2022 in solid shape even as questions persist over whether growth will turn negative in the year ahead. Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had
In this article INTC Follow your favorite stocksCREATE FREE ACCOUNT Pat Gelsinger, CEO, of Intel Corporation, testifies during the Senate Commerce, Science, and Transportation hearing on semiconductors titled Developing Next Generation Technology for Innovation, in Russell Senate Office Building on Wednesday, March 23, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images Intel shares
After initially suggesting a fall in the UK Inflation, British Treasury Secretary Jeremy Hunt will say on Friday that he will tackle the country’s weak productivity growth, including by using post-Brexit finance reforms to drive more investment into the economy, per the UK Treasury as reported by Reuters. The update also states that UK Chancellor
We don’t often, if ever, look at yearly candles. A bigger view goes a long way in trying to forecast where we are and where the stock market is going till the end of 2023. If you are interesting in a unique angle to predicting where this market is headed, please do watch the video