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- Or are they just going to let markets decide on firmer pricing based on the upcoming data and be bullied into a decision?
- That’s just about two-thirds in favour of the more hawkish side, with the more dovish decision now seen as just a 25 bps move instead.
- We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
Looking at the left side of the chart, we can see that the market has bounced from this zone multiple times. This suggests that there is strong demand at this level and a possible buying opportunity. According to the CME’s FedWatch tool, investors are now pricing in a 60/40 shot of a 50bps rate hike in two weeks’ time and that rates could peak above 5.5%. By Ambar Warrick Investing.com — Most Asian currencies kept to a tight range on Monday as markets awaited more cues on U.S. monetary policy from a testimony by Federal Reserve… By Karen Brettell NEW YORK – The dollar dipped on Thursday after data showed that U.S. jobless claims rose more than expected last week, raising hopes that a softening… Follow breaking news on global financial markets with our real-time news feed.
Vienna, MAR 2023; tubics.com, a leading enterprise SaaS platform for data-driven video marketing, is pleased to announce the launch of the 3rd… If the $997 price tag is too much for you to spend on your Forex education at this moment, you’re in luck, there are other alternatives out there. One affordable option that should be mentioned is the 1000pip Climber System. How to Trade with the Relative Strength Index The Relative Strength Index is a popular technical indicator used to identify over-bought or over-sold conditions.
Forexlive Americas FX news wrap 3 Mar
Retailer BJ’s Wholesale Club Holdings, Inc. announced Thursday that profit for the fourth quarter increased 20.7 percent from last year, driven by improved gross margins and 13.1 percent revenue growth. Adjusted earnings per share and quarterly revenues topped analysts’ estimates. The company also initiated earnings guidance for the full-year 2023, below estimates. The ECB had already planned a half-point rate move in March, and these stronger readings are likely to bolster officials who say that more big moves are needed beyond that to get inflation under control. The Australian dollar is feeling the strain of housing-related headlines today, with mortgage arrears on the rise and dwelling approvals on the decline. If the RBA deliver another 25bp hike tomorrow, it will take their cash rate to a 10-year high of 3.6%.
By Peter Nurse Investing.com – The U.S. dollar climbed to three-month highs Wednesday after Federal Reserve Chair Jerome Powell guided towards a higher terminal rate than… USD/JPY upside looks to be fading; however, upcoming key economic data will pave the way forward. Ever since the Yellen era, the Fed has not found it ideal to be ambiguous ahead of their policy decisions. And I would argue that they would not want that to be the case this month as well.
There’s still the infamous dot plots to take into account but let’s leave that for a separate discussion. Market-implied probability signals roughly 68% odds of the Fed moving by 50 bps this month. That’s just about two-thirds in favour of the more hawkish side, with the more dovish decision now seen as just a 25 bps move instead. There were mixed tones overall as the dollar slumped while equities are softer, and even the action in the bond market was more mixed. Krispy Kreme, Inc. announced Thursday it is making St. Patrick’s Day celebrations “Good as Gold” by introducing four all-new gold-themed doughnuts along with the return of the fan favorite green O’riginal Glazed Doughnut.
Keep track of the latest currency market moves as they develop. Stay up-to-date on breaking forex news as well as relevant financial developments. Asia Forex Mentor is worth considering for those who are serious about learning forex trading and are willing to invest in their education.
European Open: All quiet ahead of Powell’s testimony
This is all just flow for show though, as the market movements with firmer convictions will only come after the US jobs report tomorrow. It was a session bereft of key headlines with there being no major economic releases in European morning trade. E-commerce company JD.com, Inc. reported Thursday a net income attributable to ordinary shareholders for the fourth quarter of RMB3.03 billion or $441 million, compared to a net loss of RMB5.17 billion in the year-ago quarter. Net income per ADS was RMB1.91 or $0.28, compared to a net loss per ADS of RMB3.33 last year. Market mostly traded in tight ranges ahead of Jerome Powell’s highly anticipated testimony to the House, which has the potential to be a volatile event.
Dow Jones Technical Analysis – ForexLive
Dow Jones Technical Analysis.
Posted: Thu, 09 Mar 2023 10:08:00 GMT [source]
Powell had that sort of opportunity this week and he chose not to. Instead, he pointed to the upcoming data i.e. jobs report tomorrow and inflation numbers next week, and left markets hanging. The price has broken through the resistance zone and is heading https://forexbitcoin.info/ towards the main resistance. Price is updating its swing highs at resistance and it formed a triangle pattern . The NZDUSD pair is currently trading at a very important support level of 0.6100, which has been a key level for the pair in the past.
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Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The issue though, is that the FOMC blackout period begins on Saturday and that will come before the consumer inflation report next week – which is arguably the key economic release that policymakers will scrutinise.
Canadian shares are likely to open lower on Thursday amid concerns about global economic outlook and possibility of more interest rate hikes by the Federal Reserve. By Ambar Warrick Investing.com — Most Asian currencies moved in a flat-to-low range on Thursday, coming under pressure from softer-than-expected Chinese inflation data, while… Gold price extended its rebound and surpassed $1,825 in the second half of the day on Thursday. After the data from the US showed a large increase in weekly jobless claims, the benchmark 10-year US Treasury bond yield turned south, helping XAU/USD gain traction. In any case, as Adam already mentioned, expect markets to take Timiraos’ Fed preview as the final communication hurdle. This considering that policymakers will not be able to provide much further clarity before the 22 March decision.
If NFP comes again above expectations that will signal more… Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
– Major Forex Headlines wrapped up by trading session
As with all such advisory services, past results are never a guarantee of future results. The Foreign Exchange market is where global currencies are traded. It’s a decentralized global market that operates 24 hours a day, and is considered the largest by trading volume and the most liquid worldwide. Currencies are traded in pairs, so by exchanging one currency for another, traders speculate on whether one currency will rise or fall in value against the other. The market has changed a lot since the internet revolution – though what hasn’t?
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With a rate decision from BoC and jobs reports from both US and Canada to come this week, the USD/CAD should face a testing week. By Herbert Lash and Joice Alves NEW YORK/LONDON – The dollar strengthened on Thursday after unemployment claims pointed to a still strong U.S. jobs market and other data… By Peter Nurse Investing.com – The U.S. dollar weakened in early European trade Friday, on course for a weekly loss, amid uncertainty over the extent of the Federal Reserve’s… By Gertrude Chavez-Dreyfuss NEW YORK – The U.S. dollar slid from a 2-1/2-month high versus the Japanese yen on Friday, on track for its largest weekly loss since… BEIJING – China’s foreign exchange regulator said on Monday that there is no change in China’s policy on cross-border remittance of funds, and it will continue to… By Fergal Smith TORONTO – As the Bank of Canada pauses its interest rate hikes, investors are betting that the sensitivity of Canada’s economy to higher borrowing costs…
The JPY is the strongest and the USD is the weakest as the NA session begins – ForexLive
The JPY is the strongest and the USD is the weakest as the NA session begins.
Posted: Thu, 09 Mar 2023 13:17:00 GMT [source]
Mexico’s mid-month CPI showed that inflation seems to be leveling off. Dollar was bouncing off earlier lows, supported by even more positive news – this time from the housing market. In this week’s report, we are getting technical on S&P, gold and GBP/USD. By Vuyani Ndaba and Vivek Mishra JOHANNESBURG/BENGALURU – China’s reopening is set to boost emerging market currencies against the U.S. dollar over the next six months,… BEIJING – China’s yuan has become more flexible, helping stabilise the economy and the central bank will keep yuan exchange rates stable, the Governor of the People’s… By Uditha Jayasinghe COLOMBO – Sri Lanka will relax its currency band from next week, its central bank said on Friday, as part of efforts to move towards a…
One more day. The US jobs report is one more day away. What about today?
By Fergal Smith TORONTO – Analysts are sticking to their forecasts for a stronger Canadian dollar over the coming year, expecting an improved global economy and less… BANGKOK – Thailand’s baht currency is likely to remain highly volatile due to external factors but its weakness is in line with moves in regional currencies, the central… BEIRUT – Lebanon’s commercial banks do not have enough liquidity to pay back depositors, the secretary general of the country’s banking association said on Wednesday in… Needs to review the security of your connection before proceeding.
Or are they just going to let markets decide on firmer pricing based on the upcoming data and be bullied into a decision? These days, this option seems rather unlikely but it is hard to get a grip on the situation especially after Powell basically said “I’m leaving this up to the data”. The S&P 500 and Nasdaq 100 advanced modestly on Wednesday, but gains were capped by subdued sentiment following Powell’s hawkish remarks ahead of the February U.S. jobs report. In this week’s edition, we discuss the dollar, gold and look forward to the key events coming up in the week ahead.