US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq
US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq US indices showed varied performance in a subdued trading session. The Nasdaq index experienced a decline of over 1% as Big Tech companies retreated, making it the poorest-performing index of the day. Tesla shares took a significant hit, falling by 6% following […]
European Flash PMI’s and Canada Inflation Report
European Flash PMI’s and Canada Inflation Report Australia’s ASX 200 index fell by -12.7 points and currently trades at 7,338.80 Japan’s Nikkei 225 index has fallen by -37.31 points and currently trades at 27,494.63 Hong Kong’s Hang Seng index has fallen by -207.23 points and currently trades at 20,679.73 China’s A50 Index has fallen by […]
USD/JPY expected slide
USD/JPY expected slide Last year was tough for Japanese yen. USD/JPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of […]
Policy Makers Views on Risks Begin to Diverge
Policy Makers Views on Risks Begin to Diverge Last week has seen a flurry of central bank communications as the RBA, FOMC and BoE all met deliberate on policy. Evident in their decisions and commentary is a growing divergence in expectations around inflation and the risks to the policy outlook. The RBA delivered only a […]
Another FED Hawkish 75bp Hike Rates
[vc_row full_width=”stretch_row”][vc_column][vc_column_text] Another FED Hawkish 75bp Hike Rates Fed hiked rates by 75bp as highly expected. Powell delivered a hawkish message, emphasizing the need to tighten financial conditions further. We have not seen Fed make significant progress towards its goals over the past month. It is expected that a 50bp hike will come in February […]
Upcoming Market Updates: JPY, EUR, GBP, USD
Upcoming Market Updates: JPY, EUR, GBP, USD JPY: BOJ Core CPI y/y, it measures Change in the price of goods and services purchased by consumers, excluding food and energy. EUR: German ifo Business Climate, it measures Level of a composite index based on surveyed manufacturers, builders, wholesalers, services, and retailers. GBP: MPC Member Pill Speaks, […]
Upcoming Market Updates: NZD, AUD, EUR, USD
Upcoming Market Updates: NZD, AUD, EUR, USD NZD: ANZ Business Confidence, it measures level of a diffusion index based on surveyed manufacturers, builders, retailers, agricultural firms, and service providers. AUD: Import Prices q/q, it measures change in the price of goods purchased by importers. AUD: Retail Sales m/m, it measures change in the total value […]
Upcoming Market Updates : AUD, CHF, GBP, EUR, USD
Upcoming Market Updates: AUD, CHF, GBP, EUR, USD Time 04:30 AM GMT+3 AUD: Monetary Policy Meeting Minutes, It’s a detailed record of the RBA Reserve Bank Board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates. Time 05:00 AM GMT+3 AUD: RBA Deputy Gov […]
Upcoming Market Updates : NZD, GBP, EURO, CAD, USD
Upcoming Market Updates : NZD,GBP,EURO, CAD, USD Time 01:30 AM GMT+3 NZD: Business NZ Manufacturing Index, it measures level of a diffusion index based on surveyed manufacturers. Time 01:45 AM GMT+3 NZD: CPI q/q, it measures change in the price of goods and services purchased by consumers. Time 02:01 AM GMT+3 GBP: Rightmove HPI m/m, […]
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY JPY: Household Spending y/y, it measures change in the inflation-adjusted value of all expenditures by consumers. JPY: Current Account, it measures difference in value between imported and exported goods, services, income flows, and unilateral transfers during the reported month. JPY: Economy Watchers Sentiment, it measures level […]
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite In Monday’s session, oil rose to near three-month highs above $120 a barrel before falling on profit-taking and concerns about the impact on the US economy of record fuel prices in a country already grappling with 40-year high inflation. […]
Ahead of the Manufacturing PMI, XAU/USD is expected to fall
Ahead of the Manufacturing PMI, XAU/USD is expected to fall In the New York session, the gold price (XAU/USD) broke down from its prior consolidation in a $1,846.20-1,864.16 range. The precious metal has been very volatile as investors prepare for the Federal Reserve (Fed) to increase the scope of its aggressive stance in June. Inflationary […]
Oil prices plummet as a result of China’s lockdowns, and reserves are released
Oil prices plummet as a result of China’s lockdowns, and reserves are released Oil prices fell $2 a barrel in early Asian trade on Monday, marking the second consecutive weekly decrease after world consumers revealed intentions to release a record volume of crude and oil products from strategic storage, and as China lockdowns remained in […]
EURUSD Under Pressure due to French Presidential Election
EURUSD Under Pressure due to French Presidential Election Campaigning in the French presidential race closes tonight as far-right candidate Marine Le Pen unfurled to tropical the gap on Emmanuel Macron. President Macron’s ubiquity is slipping this morning with a stun survey by a Brazilian firm placing Le Pen superiority of the incumbent throne of state. […]
U.S. weekly jobless claims are at their lowest since 1969 amid labor market pressures
U.S. weekly jobless claims are at their lowest since 1969 amid labor market pressures The number of Americans filing new unemployment claims fell to the lowest level in 52 years last week as labor market conditions continue to deteriorate due to a severe labor shortage. The drop reported by the Labor Department in Thursday’s […]
RBNZ Survey – Inflation is expected to rise & to be around 3%
RBNZ Survey – Inflation is expected to rise & to be around 3% Aggressive polls at the Reserve Bank showed a very sharp rise in expectations for future inflation. The results of the RBNZ’s latest quarterly forecast survey could fuel speculation that the RBNZ could raise its official cash rate by up to 50 basis […]
Rivian Gears up for Nasdaq Debut, Tesla Bounces Back
Rivian Gears up for Nasdaq Debut, Tesla Bounces Back The electric car manufacturer Rivian is all set to make its debut on the Nasdaq today with the highest IPO, and the timings could not be more perfect than this. A pledge of not using fossil fuel-based vehicles by 2040 was taken by the countries and […]
Xtreamforex Asia FX news wrap: Yen crosses rise further
Xtreamforex Asia FX news wrap: Yen crosses rise further Rising oil costs and falling yen were the principal topics again here during Asia to open the week. AUD and GBP were outstanding risers however NZD, CAD and EUR additionally showed strength. USD/JPY is above 112.50 as I post. There was a nice progression of information […]