It is Friday, so it is a good time to look back at the price action this week and then look forward to what the price action tells us going forward into the new trading week. Looking at the GBPUSD on the hourly char this week this weekt above, the price today moved to a
Month: July 2023
MON: Japanese Retail Sales (Jun), Chinese Official PMI (Jul), German Flash GDP (Q2), New Zealand Labour CostIndex (Q2) TUE: RBA Announcement, Chinese Caixin Manufacturing Final PMI (Jul), German/EZ Unemployment Rates (Jul), EZ/UK/US Final Manufacturing PMIs (Jul), US ISM Manufacturing PMI (Jul), New Zealand Jobs Report (Q2) WED: BCB Announcement, US ADP Employment (Jul) THU: BoE
Spot gold closed with a loss of $1 at $1959.20 in an eventful week. Gold got some boost from the peak rate narrative as both the European Central Bank and the US Federal Reserve made it clear that they would adopt a data-dependent approach in deciding their monetary policies going forward. However, the much anticipated
The global financial markets found themselves in a flurry of volatility in the past week, underpinned by policy decision of three major central banks in North American, Europe, and Asia. Yen and Nikkei had the wildest roller-coaster ride in reaction to BoJ’s tweak to their Yield Curve Control. In the end, Yen crosses are maintaining
People stand at the check-out counter after shopping at a grocery supermarket in Alhambra, California, on July 13, 2022. Frederic J. Brown | AFP | Getty Images Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index excluding food
In this article PG Follow your favorite stocksCREATE FREE ACCOUNT Tide laundry detergent is shown on display in Compton, California, U.S., January 10, 2017. Mike Blake | Reuters Procter & Gamble reported its quarterly earnings before the bell Friday. Here’s what the company reported compared with what Wall Street was expecting, based on a survey
Share: GBP/USD bears eye a 50% mean reversion if not the 61.8%ratio. The 4-hour W-formation neckline support has a confluence with the 78.6% Fibonacci. GBP/USD ended at around 1.2840 on Friday after reaching its lowest level since July 6 while investors remain concerned that the hawks will continue to circle over the Federal Reserve following
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EURUSD: The EUSUSD remains above its 50% midpoint of the July trading range. That level comes in at 1.10539. The New York (and London session) held that midpoint level. The Asian session mostly traded below the midpoint level. On the top side, the falling 100-hour moving average comes in at 1.10895. Moving above it would
As the Fed decision looms at the top of the hour, the major indices are trading lower led by the NASDAQ index. The Dow is down marginally. A close lower today would snap its 12-day winning streak. The record is 13 straight days of gains. A snapshot market currently shows: Dow industrial average -3.28 points
The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges. On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia after previously being approved in Namibia’s National Assembly on July 6
Gold prices struggled for direction in early Asian trading on Wednesday as traders awaited the U.S. Federal Reserve’s widely expected rate hike and a potential end to its monetary tightening cycle. FUNDAMENTALS * Spot gold held its ground at $1,964.14 per ounce by 0110 GMT, while U.S. gold futures edged 0.1% higher to $1,965.90. *
Euro falls broadly today following release of weaker than expected German Ifo business climate data, although losses remain somewhat contained for the moment. It appears traders are holding their bets in anticipation of the upcoming FOMC and ECB rate decisions. Further, with July drawing to a close and the markets in a characteristic summer lull,
A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Ying Tang | NurPhoto | Getty Images The Chinese economy could be facing a prolonged period of lower growth, a prospect which may have global ramifications after 45 years of rapid expansion and globalization. The Chinese government
In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT Sundar Pichai, CEO, Alphabet Inc., during the Google I/O developers conference in Mountain View, California, May 10, 2023. David Paul Morris | Bloomberg | Getty Images Alphabet will report second-quarter earnings after the close of regular trading on Tuesday. Here’s what Wall Street is expecting:
Share: Silver edges higher during the Asian session, though the downside remains cushioned. Traders now seem reluctant to place aggressive bets ahead of the key FOMC decision. The mixed technical setup further warrants some caution before placing directional bets. Silver struggles to capitalize on the previous day’s goodish rebound from the $24.30-$24.25 area, or a
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