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JetBlue, Southwest Planes Almost Collide On Reagan National Runway

Apr 19, 2024 | 18:44 pm

A potential disaster was narrowly averted at Washington, D.C.'s Reagan National Airport on Thursday, when two planes, JetBlue and Southwest Airlines, came dangerously close to colliding. This incident is the latest in a string of near-misses at U.S. airports, as reported by NBC News.The Federal Aviation Administration is currently investigating the factors that resulted in this close shave.Air traffic control communications captured controllers hastily instructing the JetBlue flight, an Embraer ERJ-190 bound for Boston, to abort its takeoff. This command was issued after a Southwest Airlines Boeing 737 Max 9, set to depart for Orlando, started to cross the runway ahead of the JetBlue flight. Both planes halted immediately, stopping within 400 feet of each other as the controllers intervened.The reason why both jets were permitted to occupy the same runway at the same time remains unclear. Thankfully, no injuries were reported following the incident. After the near-collision, the JetBlue flight made its way back to the start of the runway before successfully departing for Boston Logan. Meanwhile, the Southwest Airlines flight was instructed to continue across the runway before heading to a second runway, where it also successfully took off for Orlando as per its schedule.Industry experts are of the opinion that such an incident underscores the minimal safety buffers amongst the overburdened air traffic controllers. This near-collision is just one among several such close calls reported recently at U.S. airports, making it imperative that robust safety protocols be implemented to forestall similar episodes in the future.The material has been provided by InstaForex Company - www.instaforex.com

Treasuries Give Back Ground After Early Advance But Remain Positive

Apr 19, 2024 | 18:17 pm

After a vigorous upward trend during the beginning of the trading session, treasury bonds saw a slight fallback but maintained an overall positive performance. Despite this, bond prices ended the day moderately above the opening mark, although they had not sustained their peak levels throughout the whole session. Consequently, the yield on the benchmark ten-year note, which inversely relates to its price, dropped by 3.2 basis points, down to 4.615 percent, after reaching a session low of 4.582 percent.The initial victories for the treasury bonds could be attributed to their attractiveness as a secure investment, This was chiefly sparked by Israel’s military actions against Iran, seemingly a contained retaliation for Tehran's recent drone and missile attacks. However, buyer's enthusiasm dimmed soon after trading commenced as Iran's state-run media outlets understated these attacks, attributing the blasts heard in Isfahan to the operations of Iran's own air defense systems instead.Iran's semi-official news agency Tasnim also revealed that the nuclear facilities within Iran's central Isfahan province are entirely secure. A scarcity of crucial U.S. economic data could also account for the trader's hesitation for big steps, in anticipation of key report’s releases in the ensuing week.The trading momentum in the coming week might also respond to the recent U.S. economic data, consisting of various reports on parameters like new home sales, orders for durable goods, and personal income and expenditure. The U.S. Commerce Department's report on personal income and spending also covers inflation metrics that are said to be favored by the Federal Reserve.The material has been provided by InstaForex Company - www.instaforex.com

Google Announces Restructuring Of Its AI Teams

Apr 19, 2024 | 18:05 pm

Sundar Pichai, Google's CEO, has unveiled a comprehensive reorganisation plan of the company's leadership and operational divisions to speed up its focus on artificial intelligence (AI) development. This restructuring plan aims to simplify the company's processes and involves the creation of a new group titled "Platforms and Devices".This group will manage a variety of Google products, including Google's Pixel products, Android, Chrome, ChromeOS, Photos, among others. Rick Osterloh, the previous supervisor of Google's hardware initiatives, has been appointed the team's leader. Hiroshi Lockheimer, formerly responsible for Android, Chrome, and ChromeOS, will now concentrate on other projects under Google and Alphabet's umbrella.Lockheimer clarified that the consolidation of teams was a long-planned action spanning more than two years and was not motivated by internal conflicts. This organisational shake-up is in line with Google's ongoing emphasis on orienting operations towards the implementation of AI technology.In an interview with The Verge, Osterloh explained that AI integration was the primary reason for uniting Google's consumer hardware and software engineers. He underscored AI's increased importance in smartphone technology by referring to the AI-powered features of the Pixel camera, such as improving low-light photos and selecting the best images.According to Osterloh, merging the teams will enable Google to expedite the application of AI in its features. He highlighted the necessity of understanding not just the software and hardware systems but also the early AI models applied in image processing, using the Pixel camera's development as an example. Osterloh pointed to AI's potential to transform user experiences substantially, notably in the current context.This restructuring aims to render Google's organisation more uncomplicated, enhance the pace of its product innovation, and promote agile decision-making processes. As a vital step towards becoming a more AI-focused company, it will help Google maintain its leading position in the technology industry.The material has been provided by InstaForex Company - www.instaforex.com

Meta Slashes Quest 2 Price To $199 Permanently

Apr 19, 2024 | 17:36 pm

Meta Platforms (META) has officially reduced the price of its Quest 2 base headset, containing 128GB of storage, from $299 to $199. This makes the virtual reality headset more affordable for consumers. In a blog post, Meta announced that the price reduction makes VR technology more accessible to the public.Introduced in 2020, the Quest 2 headset offers users the opportunity to engage in a wide range of virtual activities including entertainment, fitness, and social interactions. Significantly, this can all be done without requiring any additional equipment such as a TV or gaming console.The price decrease is part of the company's strategic focus toward the Quest 3, which was launched last year with a starting price of $499. The newer model surpasses its predecessor in several areas including resolution, processing power, dimensions, and the quality of passthrough images.Furthermore, the Quest 3, equipped with an additional 2GB of RAM, uses the Qualcomm Snapdragon XR2 (Gen 2). This makes it faster than the Quest 2, which is powered by the regular Qualcomm Snapdragon XR2.In addition to the reduced headset price, Meta has also decreased the prices of Quest 2 accessories. The Elite Strap and Elite Strap with Battery are now both available for $25 and $45 respectively, marking a 50 percent discount. Similarly, the Fit Pack's price has been halved to $20, and the price of the official carrying case has been reduced from $45 to $20.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Report Shows Drop in Speculative Net Positions for MXN

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative net positions for the Mexican Peso (MXN) have decreased. The previous indicator stood at 139.7K and has since dropped to 127.7K. This decline suggests a decrease in market sentiment towards the MXN among speculative traders.The data, last updated on 19 April 2024, highlights the shifting dynamics within the foreign exchange market. Changes in speculative net positions can indicate potential shifts in investor confidence and expectations regarding the currency. As traders continue to monitor global economic developments, fluctuations in net positions for currencies like the MXN can provide valuable insights into market sentiment and potential future movements.The material has been provided by InstaForex Company - www.instaforex.com

Speculative Net Positions in Swiss Franc Reach -36.2K, According to CFTC Data

Apr 19, 2024 | 17:30 pm

According to the latest data released by the Commodity Futures Trading Commission (CFTC), speculative net positions in the Swiss Franc have reached -36.2K. This indicates a decrease from the previous recorded indicator of -31.8K. The most recent update on this data was on 19th April 2024.Speculative net positions provide valuable insights into market sentiment and the overall outlook for a particular currency. A decline in net positions suggests a more bearish sentiment towards the Swiss Franc among speculative traders. This shift in positioning could influence future trading patterns and potentially impact the value of the Swiss Franc in the foreign exchange markets.Investors and market analysts will be closely monitoring these developments to gauge the potential implications for the Swiss Franc and the broader economic landscape.The material has been provided by InstaForex Company - www.instaforex.com

Speculative Traders Increase Bearish Bets on Australian Dollar, CFTC Data Shows

Apr 19, 2024 | 17:30 pm

According to the latest data released by the Commodity Futures Trading Commission (CFTC), speculative net positions on the Australian Dollar have taken a sharp turn towards bearish sentiment. The indicator, which stood at -92.3K in the previous reading, has now dropped further to -101.1K. This indicates that traders have increased their bets against the Australian Dollar in the futures market.The updated data, current as of April 19, 2024, suggests a growing pessimism among traders towards the Australian currency. The significant decline in speculative net positions reflects a shift in sentiment towards the AUD, possibly influenced by various economic factors both domestically and internationally. Traders and investors will be closely monitoring the developments surrounding the Australian Dollar in the coming days as they navigate the currency's performance in the global market.The material has been provided by InstaForex Company - www.instaforex.com

Speculative Net Positions for Brazilian Real Improve to 0.9K, CFTC Data Shows

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative net positions for the Brazilian Real have improved to 0.9K. This marks a significant turnaround from the previous reading of -2.6K, indicating a shift in investor sentiment towards the currency.While the exact date of these events is unknown, the most recent data was updated on 19 April 2024. The positive change in speculative net positions suggests that investors may be more optimistic about the outlook for the Brazilian Real in the near term.It will be interesting to see how this improvement in speculative positions may impact the Brazilian Real in the coming days, as investors continue to monitor economic developments and geopolitical events that could influence currency fluctuations.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Data Shows Decline in JPY Speculative Net Positions to -165.6K

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative net positions for the Japanese Yen (JPY) have decreased to -165.6K. This figure indicates a decline from the previous reading of -162.2K. The data was last updated on 19 April 2024, with no specific dates provided for when the previous or current events occurred.Speculative net positions reflect the difference between the number of long and short positions taken on a particular currency by speculators. A decrease in net positions suggests that traders have become more bearish on the JPY. This development could be influenced by various factors such as economic data, geopolitical events, and market sentiment.Investors and analysts closely monitor CFTC data to gauge market sentiment and potential price movements. The recent decline in JPY speculative net positions may signal a shift in trader sentiment towards the currency, highlighting the importance of staying informed about market dynamics to make well-informed investment decisions.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Data Shows Decrease in Speculative Net Positions for NZD

Apr 19, 2024 | 17:30 pm

According to the latest data released by the Commodity Futures Trading Commission (CFTC), speculative net positions for the New Zealand Dollar (NZD) have decreased. The previous indicator recorded a net position of -13.5K, which has now dropped to -11.7K. This indicates a decrease in speculative bets on the currency.Investors and analysts closely monitor CFTC data to gauge market sentiment and potential currency movements. The updated information, as of 19 April 2024, provides valuable insights into the positioning of market participants regarding the NZD.As global economic conditions continue to evolve, shifts in speculative positions can impact the value of currencies. Traders will be watching closely to see how this updated data may influence trading strategies and market dynamics in the near term.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Data Shows GBP Speculative Net Positions Decline to 8.6K

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative net positions on the British Pound (GBP) have seen a significant decline. The previous indicator was at 28.3K before the current reading of 8.6K, indicating a sizable drop in speculative positions on the currency.These figures provide insights into market sentiment towards the GBP as investors and traders adjust their positions. While the exact date of the event and the previous data are not specified, the most recent update on this indicator was recorded on 19 April 2024.The decrease in speculative net positions on the GBP suggests a shift in market dynamics or sentiment towards the currency. Traders and analysts will likely be monitoring future developments closely to gauge the potential impact on the GBP's performance in the foreign exchange market.The material has been provided by InstaForex Company - www.instaforex.com

Canadian Dollar Speculative Positions Deepen as Traders Increase Bearish Bets

Apr 19, 2024 | 17:30 pm

The Commodity Futures Trading Commission (CFTC) data released on April 19, 2024, shows that speculative net positions for the Canadian Dollar (CAD) have deepened significantly. The latest report indicates that traders' net positions have reached -82.8K, reflecting a substantial increase in bearish bets compared to the previous figure of -53.4K.The growing negative sentiment towards the CAD suggests that traders are increasingly pessimistic about the currency's future performance. This shift in speculative positions could indicate concerns about the Canadian economy, global market trends, or other geopolitical factors influencing traders' outlook on the CAD.As investors continue to adjust their positions in response to changing market dynamics, monitoring speculative net positions can provide valuable insights into market sentiment and potential future currency movements. The widening gap in bearish bets on the CAD underscores the importance of staying informed about evolving trends in the foreign exchange market.The material has been provided by InstaForex Company - www.instaforex.com

Euro Zone Speculative Net Positions for Euro (EUR) Decrease to 12.2K Amidst Uncertain Economic Climate

Apr 19, 2024 | 17:30 pm

In the latest data released by the Commodity Futures Trading Commission (CFTC) regarding speculative net positions in the Euro Zone, the figures show a significant decrease. The previous indicator, which had reached 32.7K, has now dropped to 12.2K, indicating a shift in sentiment among speculators towards the Euro (EUR). This comes amidst an uncertain economic climate globally, with various factors impacting financial markets.The latest update on this data was on 19th April 2024, highlighting the recent change in speculative positioning in the Euro. Investors and analysts will be closely watching these developments to gauge market sentiment and potential future movements in the currency. As economic conditions continue to evolve, these indicators provide valuable insights into the trends and attitudes of market participants towards the Euro in the Euro Zone.The material has been provided by InstaForex Company - www.instaforex.com

Speculative Net Positions in CFTC Aluminium Futures Drop to 1K, Latest Data Reveals

Apr 19, 2024 | 17:30 pm

The latest data from the Commodity Futures Trading Commission (CFTC) has revealed that speculative net positions in Aluminium futures in the United States have decreased to 1,000 contracts. This marks a significant drop from the previous indicator, which had reached 2,600 contracts. The most recent update was made on 19th April 2024, and no specific dates were provided for when the previous event occurred or when the current indicator was recorded.The decrease in speculative net positions could signal a shift in market sentiment towards Aluminium futures, with investors potentially becoming less bullish on the commodity. Traders and analysts will be closely monitoring future data releases to assess whether this trend continues or if there are any significant changes in market dynamics. As global economic conditions and geopolitical factors continue to impact commodity markets, developments in Aluminium futures will be closely watched by market participants for potential trading opportunities and risk management strategies.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Reports Increase in Copper Speculative Net Positions to 47.6K in the United States

Apr 19, 2024 | 17:30 pm

According to the latest data released by the Commodity Futures Trading Commission (CFTC) on April 19, 2024, speculative net positions in copper in the United States have increased to 47.6K. This marks a significant rise from the previous indicator, which stood at 42.7K. The surge in speculative net positions suggests growing investor interest and confidence in the copper market.Copper is a key industrial metal widely used in construction, electronics, and manufacturing, making it a closely watched commodity for its economic implications. The increase in speculative net positions indicates a bullish sentiment towards copper prices, reflecting positive expectations for economic growth and demand for the metal. Investors and analysts will continue to monitor these developments to gauge the potential impact on global markets and economic outlook.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Reports Increase in Bearish Corn Speculative Net Positions in the US

Apr 19, 2024 | 17:30 pm

The latest data from the Commodity Futures Trading Commission (CFTC) reveals that speculative net positions for corn in the United States have taken a bearish turn. The most recent report indicates a significant increase in bearish positions, reaching -204.9K, compared to the previous figure of -190.2K. This shift suggests that investors are increasingly betting on a decline in corn prices.The data, updated on April 19, 2024, reflects market sentiment regarding the future of corn prices. Factors such as weather conditions, demand projections, and global supply levels can influence speculative positions in agricultural commodities like corn. Traders will be closely monitoring these indicators to gauge market expectations and make informed decisions regarding their trading strategies in the corn market.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Crude Oil Speculative Net Positions Decrease Slightly in the US

Apr 19, 2024 | 17:30 pm

The latest data from the Commodity Futures Trading Commission (CFTC) shows that speculative net positions for crude oil in the United States have decreased slightly. The previous indicator was reported at 297.1K and has now dropped to 290.5K. This indicates a slight decrease in bullish sentiment towards crude oil among speculators in the country.Although no specific dates have been provided for when these changes occurred, the most recent data update from the CFTC is dated 19th April 2024. The fluctuations in speculative net positions for crude oil can provide insights into market sentiment and future price movements. Investors and analysts often monitor these figures closely to gauge the overall market outlook and potential price trends for crude oil in the near term.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Gold Speculative Net Positions Decrease Slightly to 201.9K

Apr 19, 2024 | 17:30 pm

The latest data from the U.S. Commodity Futures Trading Commission (CFTC) shows that gold speculative net positions have decreased slightly to 201.9K. This marks a marginal decline compared to the previous reporting period when the indicator stood at 202.4K. While the exact date of the previous and current events remains undisclosed, the most recent update was made on 19th April 2024.Gold speculative net positions are closely monitored by investors and analysts as they provide insights into market sentiment and potential price movements. A decrease in speculative net positions could indicate a less bullish outlook on gold prices among traders. As the global economic landscape continues to evolve, fluctuations in gold positions can offer valuable clues about investor confidence and risk appetite in the markets.The material has been provided by InstaForex Company - www.instaforex.com

Speculative Net Positions in Nasdaq 100 Increase to 8.5K, CFTC Report Shows

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculators have increased their net positions in the Nasdaq 100. The report indicates that the speculative net positions have risen to 8.5K from the previous figure of 7.5K.This data, last updated on April 19, 2024, suggests growing optimism among speculators regarding the future performance of the Nasdaq 100 index. An increase in speculative net positions can indicate a belief that prices will rise in the future, reflecting a bullish sentiment in the market.Investors and market participants often monitor these reports to gauge market sentiment and potential price movements. The rise in speculative net positions in the Nasdaq 100 may point to increasing confidence in the index's outlook among speculators.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Reports Decrease in Natural Gas Speculative Net Positions in the US

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), the speculative net positions for natural gas in the United States have decreased. The most recent indicator showed a decrease to -131.9K from the previous reading of -127.9K. This decline indicates a shift in sentiment among investors regarding natural gas futures.The CFTC report, updated on 19 April 2024, suggests that market participants are taking a more bearish stance on natural gas, potentially reflecting concerns about oversupply or weakening demand. Traders and analysts will likely keep a close eye on further developments in the natural gas market to assess the impact of these shifting positions on prices and market dynamics.The material has been provided by InstaForex Company - www.instaforex.com

Speculative Net Positions on S&P 500 Show Significant Upswing Despite Volatility

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative net positions on the S&P 500 in the United States have taken a remarkable turn. The most recent indicator reveals a significant increase, reaching 74.1K, marking a substantial upswing despite the previous indicator halting at -62.9K. This indicates a notable shift in market sentiment as investors show increased optimism towards the S&P 500.The data, updated on 19 April 2024, reflects the evolving dynamics of the market amidst ongoing volatility and economic uncertainties. Investors are closely monitoring these speculative net positions as they seek insights into market trends and potential price movements. The significant rise in the current indicator suggests a growing confidence among market participants in the prospects of the S&P 500, highlighting the resilience and adaptability of investors in navigating the ever-changing financial landscape.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Silver Speculative Net Positions in the US Increase Slightly to 53.4K

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), silver speculative net positions in the United States have shown a slight increase to 53.4K. This indicates that investors are slightly more bullish on the future price of silver compared to the previous recorded figure of 53.2K.The most recent data update was on 19 April 2024; however, specific dates for the occurrence of these events were not provided in the user's message. It is important to note that speculative net positions can reflect investor sentiment and expectations regarding the price direction of silver in the market. Traders often analyze these positions to gauge market sentiment and potential price movements.Given the slight uptick in speculative net positions, market participants will continue to monitor future data releases to assess any significant shifts in investor sentiment towards silver in the US market.The material has been provided by InstaForex Company - www.instaforex.com

Speculators Increase Bearish Bets on Soybeans, CFTC Data Shows

Apr 19, 2024 | 17:30 pm

According to the latest data from the Commodity Futures Trading Commission (CFTC), speculative traders have increased their bearish bets on soybeans. The latest report indicates that the net position of speculators in the soybean market has reached -171.9K contracts. This marks a significant increase from the previous reading of -158.5K contracts.The data, which was last updated on April 19, 2024, suggests that investors are growing more pessimistic about the outlook for soybean prices. A higher negative net position indicates that speculators are increasingly betting on a decline in soybean prices. This could potentially reflect concerns about factors such as demand, supply levels, or external market conditions impacting the soybean market.Investors and analysts will be closely monitoring how these increased bearish bets might influence soybean prices in the coming weeks as they continue to assess the overall market sentiment and factor in other key variables affecting the agricultural commodities market.The material has been provided by InstaForex Company - www.instaforex.com

CFTC Wheat Speculative Net Positions Drop to -62.9K in the US

Apr 19, 2024 | 17:30 pm

The latest data from the Commodity Futures Trading Commission (CFTC) reveals a significant decrease in speculative net positions for wheat in the United States. The most recent indicator shows that the net positions have dropped to -62.9K, indicating a bearish sentiment among traders.This decline follows the previous indicator, which stood at -52.4K before it stopped. With the updated data coming in on 19 April 2024, market analysts will be closely monitoring the impact of these decreasing net positions on wheat prices and trading activity in the US commodities market. Stay tuned for more updates as the situation unfolds.The material has been provided by InstaForex Company - www.instaforex.com

Swiss Market Ends On Firm Note

Apr 19, 2024 | 15:58 pm

The Swiss market closed with a firm finish on Friday, with stocks gradually making a comeback after an unsettled start. They eventually entered the positive zone in the second-last hour of the trading session.Investors, however, still showed caution due to escalating Middle East tensions and uncertainty surrounding the Federal Reserve's forecasted interest rates.The benchmark Swiss Market Index (SMI), which dipped to 11,127.42 at the beginning of the day, concluded with an increase of 65.97 points or 0.59%, standing at 11,296.40, the day's peak.Financially speaking, Nestle saw a 2.15% growth. Swisscom, Givaudan, Zurich Insurance Group, and Novartis experienced gains ranging from 1.2% to 1.5%.The pharmaceutical giant, Roche Holding, advanced close to 1%. Other companies such as ABB, Alcon, and Swiss Life Holding also ended on a positive note.On the downside, Geberit's shares dropped 2.72%. Sika also closed almost 2% down, while Lonza Group, Logitech International, and Partners Group ended the day down by 1.45%, 1.2%, and 1.16%, respectively.Kuehne & Nagel and Richemont shares also closed considerably lower.On the Mid Price Index, Tecan Group rallied more than 3.5%. Sandoz escalated by 2.82%, and Meryer Burger Tech closed 2% higher. Barry Callebaut saw a gain of approximately 1.25%.In contrast, shares of VAT Group, Georg Fischer, and Temenos Group fell between 2.2 and 2.8%. Clariant, Straumann Holding, Baloise Holding, and Swatch Group ended the day almost 1% down.The material has been provided by InstaForex Company - www.instaforex.com

Nasdaq index gets creamed as high flyers take it on the chin

Apr 19, 2024 | 13:29 pm

The US major indices closed mixed as investors flowed out of of large-cap technology stocks and into the relative safety of the industrials. The Dow industrial average rose, while the NASDAQ index got creamed with its largest decline since January 23 when the index fell -2.23%. Today the index fell -2.05%.A look at the final number shows:Dow Industrial Average average rose 211.02 points or 0.56% at 37986.41S&P index fell -43.87 points or -0.88% at 4967.24. The decline was the 6th consecutive down day for the index.NASDAQ index tumbled -319.49 points or -2.05% at 15282.01.The decline was the 6th consecutive down day for the index.The small-cap Russell 2000 rose 4.69 points or 0.24% at 1947.65For the trading week, the Dow Industrial Average closed near unchanged, but the NASDAQ at its worst trading week since October 2022.Dow Industrial Average rose 0.01% which was good enough to snap a two-week declineS&P index fell -3.05% and closed lower for the third consecutive week. NASDAQ index-5.52%, and has now fallen for four consecutive weeks.Shares of Nvidia had their worst day since March 2020. Tesla had closed at its lowest level since January 2023. This article was written by Greg Michalowski at www.forexlive.com.

...And the beat (or beating) goes on for the NASDAQ index

Apr 19, 2024 | 12:08 pm

...and the beat (or beating) of the NASDAQ index goes on. The index is now down -2.21%. That's the worst day since January 31, when the index fell -2.23%.The price is moving further away from its 100-day moving average of 15488.78.The next support. Cons between 15012.77 and 15158.49. That area encompasses the 38.2% retracement of the longer-term move up from the October 26 low and other swing highs and lows going back to December and January (see red number circles on the chart above and the yellow area). This article was written by Greg Michalowski at www.forexlive.com.

Crude oil futures settle at $82.22. What are the technicals telling traders.

Apr 19, 2024 | 11:59 am

The price of crude oil settled at $82.22. That's up $0.12 or 0.14%.The high price extended all the way up to $85.64 soon after the Israeli strike on Iran. Low price was at $81.13.The high price for the week reached $86.18. The low price was at $81.06. Last week's closing level was at $85.66. So at current levels the price is down -3.99% on the week. The high price for April (and for 2024) reached $87.67 on April 12. That was the highest level going back to October 23, 2023.Looking at the daily chart, the corrective moved to the downside this week was able to get back below the 50% midpoint of the range since the 2023 high price. That midpoint level comes in a $81.37 (see chart below). As mentioned the low price for the week was at $81.06 yesterday (and $81.13 today) below the midpoint, but momentum could not be sustained. It would take a move below the 50% and staying below, to increase the bearish bias in the commodity and give sellers more confidence. In a week that started with Iran bombing Isreal, and ending with Isreal bombing Iran, the price moving lower "is a result". HOwever, that 50% midpoint will still remain as a key barometer for both buyers and sellers in the new trading week. Stay above it and the buyers are in play. Move below it and the selling is likely to increase in intensity. This article was written by Greg Michalowski at www.forexlive.com.

White House: Do not want to see conflict in the Middle East escalate:

Apr 19, 2024 | 11:42 am

In perhaps the understatement of the year, the White House is saying they do not want to see the conflict in the middle east escalate and that it has no comment on reports on Israel and Iran development.Although it is obvious the comment, the US does not want to be associated with escalating tensions with Iran.Israel lobbing some missiles toward Iran is one thing. If the US is lobbing rockets at the same time, that would not be good from a "hope for peace and de-escalation standpoint" This article was written by Greg Michalowski at www.forexlive.com.

IMFs Japan Mission Chief: Weak yens impact on Japans economic growth is net positive

Apr 19, 2024 | 10:14 am

The IMFs Japan MIssion Chief says:Weak yen's impact on Japan's economic growth is net positiveBank of Japan will likely have room to raise interest rates further, though future tightening must be gradual and data-dependentWhen asked if recent yen moves justify foreign exchange intervention by Japanese authorities, IMF's Japan mission chief says she firmly believes G7 nations, including Japan, are committed to flexible FX regimes This article was written by Greg Michalowski at www.forexlive.com.

Baker Hughes oil rig count 511 vs 506 last week

Apr 19, 2024 | 10:05 am

The weekly Baker Hughes rig count data shows:Oil rigs vs 511 vs 506 last weekNatural Gas rigs 106 vs 109 last weekTotal rigs 619 vs 617 last weekCrude oil is trading up $0.31 at $82.41. This article was written by Greg Michalowski at www.forexlive.com.

European indices close the week with mixed results

Apr 19, 2024 | 09:57 am

While US stocks, the major European indices are more mixed today and this week. For the day:German DAX, -0.56%France CAC, point changedUK's FTSE 100 +0.24%Spain's Ibex -0.33%Italy's FTSE MIB +0.12%For the trading week:German DAX, -1.08%France CAC,+0.14%UK FTSE 100, -1.25%Spain's Ibex, +0.41%Italy's FTSE MIB, +0.47%By comparison, the broader US stock indices are sharply lower:S&P index -2.77% - it's worst weeks since September 2023.NASDAQ index -5.01% - it's worst week since a -5.65% decline in the week of October 31, 2022 This article was written by Greg Michalowski at www.forexlive.com.

Rebel GOP Rep. Gosar backs push to oust Speaker Johnson

Apr 19, 2024 | 09:34 am

The votes are building for the ousting of House Speaker Mike Johnson.Rep. Paul Gosar (R-Ariz.) announced his co-sponsorship of Rep. Marjorie Taylor Greene’s (R-Ga.) resolution to remove Speaker Mike Johnson (R-La.) from his position.Gosar, a member of the conservative House Freedom Caucus, expressed his support shortly after the House passed a foreign aid package without border security measures, which was supported by Democrats.In his statement, Gosar criticized the lack of attention to border security and accused the current Speaker of prioritizing the interests of what he described as warmongers and the military industrial complex over national interests.Gosar is the third Republican to support the resolution, following Rep. Thomas Massie (R-Ky.) who endorsed it earlier.So what does it take to oust the Speaker of the House?To vote out the Speaker of the House in the United States, the process generally involves a motion or resolution being presented to the House of Representatives calling for a vote of no confidence or a vote to vacate the chair. Here’s how it typically works:Introduction of the Motion: A member of the House would need to introduce a motion or resolution to declare the office of the Speaker vacant. This is sometimes referred to as a "motion to vacate the chair."Scheduling the Vote: The motion would then need to be scheduled for a vote. The scheduling can be immediate or could take some time, depending on the rules of the House and the decisions by the House leadership.Majority Vote Required: For the motion to pass, a majority of the voting members must vote in favor of it. This means that more than half of the members present and voting must agree to remove the Speaker.Political Considerations: Such a motion is highly political and can be contentious. It generally reflects significant dissatisfaction with the Speaker's leadership either from within their own party or from the opposition. It is relatively rare due to the potential for significant political fallout and the disruption it can cause within the House.Outcome: If the motion passes, the office of the Speaker becomes vacant, and the House would then proceed to elect a new Speaker. If the motion fails, the Speaker remains in office. This article was written by Greg Michalowski at www.forexlive.com.

IMF's Georgieva: Need to finish the job on inflation

Apr 19, 2024 | 08:50 am

IMF meetings have been taking place this week and IMF Georgieva is speaking. She says:Central bankers need to finish the job with inflationAgees on the two rebel fiscal policy buffers, revive medium-term growth prospectswe need to address the challenges of rising debt, which is particularly severe in some countriesIMF reforms to debt restructuring process should make it smoother and speedier.Nothing new here. This article was written by Greg Michalowski at www.forexlive.com.

Fed's Goolsbee: Makes sense to wait to get more clarity before moving

Apr 19, 2024 | 07:39 am

Federal Reserve Bank of Chicago President Austan Goolsbee argued on Friday that it would make sense to wait to get more clarity on the inflation outlook before taking a policy step.

Gold price sets for fifth straight weekly gain as Middle East tensions loom

Apr 19, 2024 | 07:34 am

Gold price (XAU/USD) faces pressure to recapture new all-time highs around $2,430 in Friday’s early New York session.

IMF Kammer: ECB needs to be ready to be tighter, or looser, on my care policy

Apr 19, 2024 | 07:31 am

IMF Kammer is now speaking on Europe and says:"Tit for tat" on trade and subsidies will be very distracting for European economy, structural reforms neededwe are expecting gradual reduction in policy rates.ECB needs to be ready to be tighter, or looser, on monetary policy based on uncertainties.If tightening path for US diverges from baseline, there is upside risk for European inflationMore comments:US inflation driven by demand, EU inflation driven by energy price shocks.EUs disinflation driven by fall in energy prices, supply chain disruptions easing and affects of monetary policy This article was written by Greg Michalowski at www.forexlive.com.

Pound Sterling rebounds as fears of Middle East tensions escalating further ease

Apr 19, 2024 | 07:27 am

The Pound Sterling (GBP) finds a temporary support near almost five-month low around 1.2400 in Friday’s early American session.

BoE's Ramsden: Risks to persistence in domestic inflation pressures are receding

Apr 19, 2024 | 07:22 am

"I have become more confident in the evidence that risks to persistence in domestic inflation pressures are receding," Bank of England Deputy Governor Dave Ramsden on Friday, per Reuters.

AUD/USD holds recovery above 0.6400 as US Dollar dips

Apr 19, 2024 | 07:20 am

The AUD/USD pair holds gains above the round-level support of 0.6400 in Friday’s early New York session.

USD/JPY goes on a roller-coaster ride prompted by geopolitical risk

Apr 19, 2024 | 07:19 am

USD/JPY is trading in the 154.50s on Friday after declining to a low for the day in the 153.00s on the back of a spike in safe-haven demand that disproportionately favored the Japanese Yen (JPY).

IMF: Soft landing for European economies is in reach, but not insured

Apr 19, 2024 | 07:16 am

The IMF European regional report is out and says:Soft landing for European economies is in reach but not assured - High-debt European economies should consolidate fiscal policy faster than currently envisagedMonetary policy in advanced Europe needs to match unfolding conditions, easing neither too fast nor too slowCentral banks in the rest of Europe will need to maintain tight policy for longer to fully reel in inflation Trying to fix competitiveness problems through a subsidy race with trading partners will do more harm than goodThe EURUSD is pushing to new highs for the day in the early US session, and is testing the high of its sewing area between 1.0655 to 1.0675. Move above and stay above is more bullish for the pair. This article was written by Greg Michalowski at www.forexlive.com.

Oil steady around weekly low while markets are unwinding risk premium over tension in Middle East

Apr 19, 2024 | 06:40 am

Oil prices are dropping lower with markets having assessed the situation as less risky than first expected, after Israel retaliated against Iran by attacking targets in the Western of the country, two US officials confirmed

US Dollar slides lower with markets reversing safe have inflows on Middle Eastern tensions

Apr 19, 2024 | 06:37 am

The US Dollar Index (DXY), which tracks the US Dollar against a basket of six major currencies, eases and gives up earlier gains driven by the reports of the attack from Israel on Iran, confirmed by US officials.

US major indices open mixed. Major indices on pace for a down week

Apr 19, 2024 | 06:35 am

The major indices are opening mixed. The NASDAQ is lower. The Dow is higher. The S&P is in between but marginally lower. The NASDAQ index is being impacted by Netflix which is down over 6.5% after reporting earnings and revenues better-than-expected but with soft guidance. Shares of Nvidia and Super Micro Computers are also lower. Super Micro Computers set its earning date, but did not preannounce positive earnings projections. In the past they have preempted their earnings with positive comments. SMCI shares are currently down -4.4%. Nvidia shares are trading down -0.75%.A snapshot of the market currently shows:Dow industrial average is trading up 100 points or 0.26% at 37878S&P index up 0.32 points or 0.01% at 5011.38NASDAQ index down -51 points or -0.33% 15551The small-cap Russell 2000 down -3.58 points or -0.18% at 1939.34For the trading week, the major indices are lower. The S&P is on pace for its third straight weekly decline. The NASDAQ is on its fourth week lower and largest decline since March 2023.:Dow Industrial Average-0.34%S&P index -2.26%NASDAQ index -3.89%In the US debt market, yields are lower:2-year yield 4.977%, -1.3 basis points5-year yield 4.655%, -3.0 basis points10 year yield 4.604%, -4.3 basis points30-year yield 4.699%, -4.6 basis pointslooking at other markets:Crude oil is trading down $-0.62 at $81.48.Gold is trading near unchanged at $2378.25Bitcoin is trading higher at $64,780 This article was written by Greg Michalowski at www.forexlive.com.

USD/CAD side-steps geopolitical volatility to trade little changed

Apr 19, 2024 | 06:34 am

USD/CAD is trading in the 1.3750s after edging lower on Friday.

EUR/USD recovers after initially selling off on Middle East tensions

Apr 19, 2024 | 06:25 am

EUR/USD is trading in the lower 1.0600s at the time of writing, after recovering slightly from an early bout of weakness.

Mexican Peso recovers after strong Retail Sales data

Apr 19, 2024 | 06:22 am

The Mexican Peso (MXN) is trading in the 17.30s on Friday after an extremely volatile 24 hours in which the currency depreciated by over five percentage points in some pairs as a result of a mass exodus to safety.

Lagarde speech: Risks to inflation outlook are two-sided

Apr 19, 2024 | 06:13 am

European Central Bank (ECB) President Christine Lagarde reiterated on Friday that it would be appropriate to reduce the current level of monetary policy restriction if the inflation criteria are met, per Reuters.

NZD/USD Price Analysis: Defends crucial support of 0.5860

Apr 19, 2024 | 05:55 am

The NZD/USD pair turns sideways slightly below 0.5900 in Friday’s European session after recovering sharply from the crucial support of 0.5860.

US stocks trade back near unchanged as the declines in pre-market are erased

Apr 19, 2024 | 05:49 am

The major US stock indices have erased their declines of the Israeli territory strike against Iran. The S&P and Dow Industrial Average traded mostly in positive territory. They are trading above and below unchanged at the moment. Price action remains volatile. The opening is still 40 minutes away. This article was written by Greg Michalowski at www.forexlive.com.

EUR/GBP Price Analysis: What are the breakout levels of the three-month range?

Apr 19, 2024 | 05:47 am

EUR/GBP price is in a sideways trend which has unfolded over three months.

Weekly Market Recap (15-19 April)

Apr 19, 2024 | 05:27 am

MondayOver the weekend, Iran launched its retaliatory attack against Israel with drones and ballistic missiles. There were no casualties and 99% of the attack was neutralised. Iran eventually said that the matter could be deemed concluded. There was some initial risk on sentiment, but things turned around pretty soon as Israel pledged to retaliate. Eventually, Israel did retaliate on Friday night although the attack seemed limited based on various reports and Iran downplayed the airstrikes. This should have put an end to this episode, and we should go back focusing on macro. ECB’s Villeroy (neutral – voter) confirmed the incoming rate cuts:Barring a surprise, we should decide on the first cut at our next meeting on June 6.I’m more confident about the downward trajectory of inflation.Our cut early June will have to be followed by other cuts by year-end.The New Zealand March Services PMI plummeted back into contraction:Services PMI 47.5 vs. 53.0 prior.Long-term average is 53.4.BNZ’s Senior Economist Doug Steel:“Combining today’s weak PSI activity with last week’s similarly weak PMI activity, yields a composite reading that would be consistent with GDP falling below by more than 2% compared to year earlier levels. That is much weaker than what folk are forecasting”.The PBoC left the MLF rate unchanged at 2.50% as expected.ECB’s Simkus (hawk – voter) said that a rate cut was also possible in July.The Eurozone February Industrial Production came in line with expectations:Industrial Production M/M 0.8% vs. 0.8% expected and -3.0% prior (revised from -3.2%).Industrial Production Y/Y -6.4% vs. -5.7% expected and -6.6% prior (revised from -6.7%).ECB’s Rehn (hawk – voter) confirmed that rates could be lowered in June if inflation slows as expected:Inflation is converging towards ECBs 2% target.Monetary restraint is continuing to reduce inflation and impact the real economy.Although ECB rates are at levels that are making substantial contributions to ongoing disinflation process, we no longer see need to maintain them at current levels for a long duration.Provided we are confident inflation will continue converging to our 2% target in a sustained way, the time will be right in June to start easing the monetary policy stance and to cut rates.This assumes there will be no further setbacks in the geopolitical situation and thus in energy prices.ECB’s Kazimir (hawk – voter) confirmed a rate cut in June but stayed clear from pre-committing to anything beyond then:ECB can cut rates in June given persistent fall in inflation; restriction can be gradually reduced.ECB not committing to any policy path beyond June.Economic recovery taking hold, will accelerate in H2.ECB’s Lane (dove – voter) stressed about the need to get wage growth in check:Deceleration in wage growth is necessary to get inflation to target.Wage pressures are gradually moderating but remain elevated.While services inflation should decline somewhat in the near term, it is expected to remain relatively elevated for most of the year.Headline inflation is expected to fluctuate around current levels in the near term.It should be recognized that the current phase of disinflation is necessarily bumpy.The US March Retail Sales beat expectations across the board by a big margin with positive revisions to the prior figures:Retail Sales M/M 0.7% vs. 0.3% expected and 0.9% prior (revised from 0.6%).Retail Sales Y/Y 4.0% vs. 2.1% prior (revised from 1.5%).Ex-autos M/M 1.1% vs. 0.5% expected and 0.6% prior (revised from 0.3%).Control group 1.1% vs. 0.4% expected and 0.3% prior (revised from 0.0%).Retail sales ex gas and autos 1.0% vs. 0.3% expected and 0.5% prior (revised from 0.3%).Fed’s Williams (neutral – voter) didn’t change his view about inflation as he still sees a path to the 2% target:Overall economy will continue to grow this year around 2%.Consumer spending has been strong.There are tailwinds from the supply side of the economy.I don't see the recent inflation data as turning point.Markets are taking slower inflation progress into account.I'm data dependent as always.The US March NAHB Housing Market Index came in line with expectations:NAHB Housing Market Index 51 vs. 51 expected and 51 prior.TuesdayFed’s Daly (neutral – voter) didn’t add anything new on the monetary policy front as she just echoed others in supporting a patient stance:Recent inflation data was not surprising.Inflation bumps along the way isn't particularly surprising.Don't want to end up with too-strong, or too-weak policy response.Worst thing to do is act urgently when urgency isn't necessary.Inflation above target, need to be confident it's on the way to target before can react.No urgency to cut rates.Can't just look at published information, that's backwards looking.Economy growing at a solid rate, labour market is still strong, inflation above target.Our progress on inflation has been significant, but we are still not there yet.We don't know if R-star (more commonly written by the economists as r*) has risen.It’s reasonable to think r* is between 0.5 and 1.Labor force supply increase would be an upside surprise, but I can't count on it to make policy.The Chinese Q1 GDP beat expectations:GDP Y/Y 5.3% vs. 5.0% expected and 5.2% prior.GDP Q/Q 1.6% vs. 1.2% prior (revised from 1.0%).The Chinese March Retail Sales missed expectations:Retail Sales Y/Y 3.1% vs. 4.5% expected and 5.5% prior.The Chinese March Industrial Production missed expectations:Industrial Production 4.5% vs. 5.4% expected and 7.0% prior.The UK Labour Market report missed expectations although the wage growth figures remained strong:Unemployment rate 4.2% vs 4.0% expected and 4.0% prior (revised from 3.9%).Employment change -156K vs. 58K expected and -21K prior.Average weekly earnings 5.6% vs. 5.5% expected and 5.6% prior.Average weekly earnings (ex-bonus) 6.0% vs. 5.8% expected and 6.1% prior.March payrolls change -67K vs. -18K prior (revised from 20K).The Canadian March CPI came mostly in line with expectations across the board with further easing in the underlying inflation measures:CPI Y/Y 2.9% vs. 2.8% prior. CPI M/M 0.6% vs. 0.7% expected and 0.3% prior.Core CPI Y/Y 2.0% vs. 2.1% prior.Core CPI M/M 0.5% vs. 0.1% prior.Core CPI M/M SA -0.1% vs. 0.0% prior (revised from -0.1%).Trimmed Mean CPI Y/Y 3.1% vs. 3.2% expected and 3.2% prior.Median CPI Y/Y 2.8% vs. 3.0% expected and 3.0% prior (revised from 3.1%).Common CPI Y/Y 2.9% vs. 3.1% prior.The US March[…]

ForexLive European FX news wrap: A round trip for markets as the jitters fade

Apr 19, 2024 | 05:07 am

Headlines:FX hits the reset button after early day jittersUS futures erase the earlier drop from Israel-Iran fearsReport says early assessment is that Iran will not be retaliating against Israel tonightSenior Iranian official reportedly says there is no plan for immediate retaliationIran media denies reports of a foreign attack on Iranian cities, including IsfahanUK March retail sales 0.0% vs +0.3% m/m expectedGermany March PPI +0.2% vs +0.1% m/m expectedGermany reportedly to raise economic growth forecast for the yearMarkets:CHF leads, NZD lags on the dayEuropean equities lower; S&P 500 futures down 0.1%US 10-year yields down 4.7 bps to 4.60%Gold down 0.1% to $2,376.72WTI crude down 0.4% to $82.38Bitcoin up 2.2% to $64,910It was all about fading the fear in European morning trade. Iran heavily downplayed the Israel attack and reaffirmed that they aren't seeking retaliation. And that is enough for markets to complete a turnaround in sentiment for the most part.While there is of course risk heading into the weekend, it seems like traders are brushing that aside mostly. S&P 500 futures were down as much as 1.7% after the headlines in Asia but are now down just 0.1% on the day. Meanwhile, gold was up to a high of $2,417 early on but is now down to $2,376 at the lows for the day.In FX, major currencies also did a round trip with USD/JPY recovering back to 154.60 and near unchanged now. The pair was down as much as 153.60 amid the jitters earlier today. EUR/USD and GBP/USD are also back to flat levels at 1.0650 and 1.2440 respectively.Meanwhile, USD/CHF is down 0.4% to 0.9085 but is well off its earlier low of 0.9010. The commodity currencies are still lacking a little though, with AUD/USD down 0.2% to 0.6408 and NZD/US down 0.3% to 0.5882 currently.There won't be much on the calendar in US trading later to really shake things up. As such, it's all about whether traders have the appetite to buy risk back up ahead of the weekend. Is this the final straw in this whole Israel-Iran episode? If so, there's only one playbook to go with.Have a great weekend, everyone. This article was written by Justin Low at www.forexlive.com.

Mexico Retail Sales (YoY) climbed from previous -0.8% to 3% in February

Apr 19, 2024 | 05:00 am

Mexico Retail Sales (YoY) climbed from previous -0.8% to 3% in February

Mexico Retail Sales (MoM) increased to 0.4% in February from previous -0.6%

Apr 19, 2024 | 05:00 am

Mexico Retail Sales (MoM) increased to 0.4% in February from previous -0.6%

Silver Price Forecast: XAG/USD falls after early gains from $29, near-term outlook remains firm

Apr 19, 2024 | 04:36 am

Silver price (XAG/USD) falls back while attempting to recapture crucial resistance of $29.00 in Friday’s European session.

India Bank Loan Growth: 19.9% (April 1) vs previous 20.2%

Apr 19, 2024 | 04:31 am

India Bank Loan Growth: 19.9% (April 1) vs previous 20.2%

India FX Reserves, USD down to $643.16B in April 8 from previous $648.56B

Apr 19, 2024 | 04:30 am

India FX Reserves, USD down to $643.16B in April 8 from previous $648.56B

Pound Sterling rebounds, though risk-off mood keeps downside bias intact

Apr 19, 2024 | 03:59 am

GBP/USD reversed its direction and turned positive on the day near 1.2450 after falling to a fresh multi-month low below 1.2400 earlier in the day.

Elliott Waves on Dax: Drop looks overlaping, price may stabilze

Apr 19, 2024 | 03:20 am

DAX moved to the downside, breaking out of a consolidation, potentially down from another B wave, which might have been triangle around the 17,800 area.

FX hits the reset button after early day jitters

Apr 19, 2024 | 02:24 am

As for the rest of the major currencies, they are all sitting little changed with one another. The dollar and yen have relinquished most of their earlier gains, with changes among dollar pairs roughly around 0.1% or less currently. It is only USD/CHF that is down 0.3% to 0.9090 but that is well off its earlier low of 0.9010.In other markets, European indices are still keeping lower between 0.7% to 1.0%. Meanwhile, S&P 500 futures are still down 0.4% after having recovered its drop from the fears surrounding Israel and Iran earlier. In the bond market, 10-year Treasury yields are down 6 bps to 4.585% but is well off the low of 4.496% in Asia trading. This article was written by Justin Low at www.forexlive.com.

Silver price today: Silver edges higher, according to FXStreet data

Apr 19, 2024 | 02:14 am

Silver prices (XAG/USD) rose on Friday, according to FXStreet data.

India Gold price today: Gold rises, according to MCX data

Apr 19, 2024 | 02:09 am

Gold prices rose in India on Friday, according to data from India's Multi Commodity Exchange (MCX).

USD/CHF remains below 0.9100 on the subdued US Dollar, awaits Fedspeak

Apr 19, 2024 | 02:05 am

USD/CHF trades around 0.9080 during the European hours on Friday.

Super Micro Computer Inc.(SMCI) Elliott Wave technical analysis [Video]

Apr 19, 2024 | 01:50 am

SMCI Elliott Wave Analysis Trading Lounge Daily Chart. Super Micro Computer Inc., (SMCI) Daily Chart.

Germany reportedly to raise economic growth forecast for the year

Apr 19, 2024 | 01:50 am

Reuters is reporting on this, citing a source familiar with the matter. The German government is set to raise its growth forecast for the economy this year to 0.3%, up from 0.2% previously. As for 2025, they see the economy growing by 1.0%.On the inflation front, the government expects inflation at 2.4% this year. And that is down from the previous forecast of 2.8%. This article was written by Justin Low at www.forexlive.com.

Australian Dollar recovers losses on expecting de-escalation of Israel-Iran situation

Apr 19, 2024 | 01:19 am

The Australian Dollar (AUD) pares losses after expectations of de-escalating geopolitical tensions as an Iranian official states no immediate plans for retaliation against Israeli airstrikes.

Greece Current Account (YoY) down to €-3.161B in February from previous €1.703B

Apr 19, 2024 | 01:00 am

Greece Current Account (YoY) down to €-3.161B in February from previous €1.703B

AUD/JPY consolidates as Iranian official states no immediate retaliation against Israel

Apr 19, 2024 | 00:56 am

AUD/JPY continues to trade in the negative territory after paring intraday losses on Friday.

USD/JPY holds ground as Iran plans no immediate retaliation against the Israeli airstrikes

Apr 19, 2024 | 00:39 am

USD/JPY reverses its losses as a senior Iranian official reportedly stated that there is no immediate plan for retaliation against the Israeli missiles strike on Iran on Friday, as per a Reuters report.

National Australia Bank Limited Elliott Wave technical forecast [Video]

Apr 19, 2024 | 00:19 am

Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with NATIONAL AUSTRALIA BANK LIMITED - NAB.

US futures erase the earlier drop from Israel-Iran fears

Apr 19, 2024 | 00:16 am

At the low earlier, S&P 500 futures were down by roughly 1.7%. It is now down just 0.4% as European markets open for trading. The improvement in the mood owes much to the fact that Iran has downplayed the attack from Israel. And also that they won't retaliate, at least not immediately.That is seeing a turn in the mood in FX as well. EUR/USD is back up to flat levels at 1.0645 while GBP/USD is off its earlier low of 1.2405 to near 1.2440 in the past hour. AUD/USD has also pared most of its decline from earlier to be down just 0.1% at 0.6415 currently.But with the weekend approaching, are traders bold enough to place their bets on risk trades going into next week? That still has the potential to temper with the overall market mood a little later in the day. This article was written by Justin Low at www.forexlive.com.

European indices open the day in the red

Apr 19, 2024 | 00:08 am

Eurostoxx -0.8%Germany DAX -1.0%France CAC 40 -0.6%UK FTSE -0.4%Spain IBEX -0.8%France CAC 40 -0.8%The picture was definitely much worse an hour ago. We're even seeing US futures slowly pare some of the earlier losses, with S&P 500 futures now down just 0.5%. At the bottom earlier, S&P 500 futures were down 1.7% on the day. In FX, we're also seeing the dollar pare its gains for the most part. EUR/USD is flat at 1.0645 while AUD/USD is down just 0.1% to 0.6413 currently. This article was written by Justin Low at www.forexlive.com.

Senior Iranian official reportedly says there is no plan for immediate retaliation

Apr 18, 2024 | 23:37 pm

That continues with the earlier narrative as Iran has been downplaying the whole incident from the beginning. From earlier:Report says early assessment is that Iran will not be retaliating against Israel tonight This article was written by Justin Low at www.forexlive.com.

Eurostoxx futures -1.2% in early European trading

Apr 18, 2024 | 23:10 pm

German DAX futures -1.5%UK FTSE futures -0.9%Well, the whole Iran-Israel episode has been a good excuse for stocks to come off the boil. And the latest set of headlines today gives more reason for investors to play things on the safer side for now. S&P 500 futures are also still down 0.8% on the day currently. With the weekend approaching, there might not be much appetite for dip buying in the sessions ahead. This article was written by Justin Low at www.forexlive.com.

UK March retail sales 0.0% vs +0.3% m/m expected

Apr 18, 2024 | 23:00 pm

Prior 0.0%; revised to +0.1%Retail sales +0.8% vs +1.0% y/y expectedPrior -0.4%; revised to -0.3%Retail sales (ex autos, fuel) -0.3% vs +0.3% m/m expectedPrior +0.2%; revised to +0.3%Retail sales (ex autos, fuel) +0.4% vs +0.9% y/y expectedPrior -0.5%; revised to -0.4%That's a rather disappointing reading with the breakdown showing the volume of food store sales down 0.7% and department store sales down 3.8% on the month. Non-store retailing sales also fell by 1.5% in March. All of that was largely balanced out by a rise in other non-food store sales (+1.8%) and automotive fuel sales (+3.2%).In any case, the divergence between value and volume of sales is still largely persisting. And that indicates the impact that higher inflation has had on UK spending over the last two years. This article was written by Justin Low at www.forexlive.com.

Germany March PPI +0.2% vs +0.1% m/m expected

Apr 18, 2024 | 23:00 pm

Prior -0.4%If you strip out energy prices, producer prices were actually up 0.3% on the month in March. Looking at the breakdown, the price for intermediate goods were up 0.1%, consumer goods up 0.6%, and capital goods up 0.2%. This article was written by Justin Low at www.forexlive.com.

UK retail sales on the agenda in the session ahead

Apr 18, 2024 | 22:09 pm

In any case, the focus at the moment is more on the broader market mood. Risk sentiment was rocked earlier by news of Israel striking Iran. But we're seeing those fears fade slightly after Iran played that all down and doesn't seem interested to retaliate.Still, this is all coming just before the weekend. And you can understand if and why traders would decide to lean towards being more safe than sorry. S&P 500 futures are down 0.9% but were down as much as 1.7% earlier when the news first hit. Meanwhile, gold is back down to $2,383 after having hit a high of $2,417 earlier.In FX, the dollar remains in a comfortable spot on the week amid the push and pull flows. USD/JPY did fall earlier to 153.60 but is now back up to 154.30 ahead of European trading. AUD/USD is down 0.3% to 0.6400 but off earlier lows at least of 0.6362.Looking to the session ahead, UK retail sales will be on the cards. The estimate is for a slight increase in retail sales in March but keep in mind that this particular trend is still very much persisting in the UK. The data will at least give pound traders something to scrutinise before the weekend.0600 GMT - Germany March PPI figures0600 GMT - UK March retail sales dataThat's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there. This article was written by Justin Low at www.forexlive.com.

Report says early assessment is that Iran will not be retaliating against Israel tonight

Apr 18, 2024 | 21:47 pm

From the way Iran is going about playing down the strikes, that is expected. Meanwhile, Iran's senior commander is out saying that "there was no damage" caused by the strikes. And that continues with the rhetoric that they are continuing to play down any response to the matter. This article was written by Justin Low at www.forexlive.com.

Aussie slides on prospect of US rate hike

Apr 18, 2024 | 17:00 pm

AUD - Australian dollar The AUD is lower this morning having given up a quarter percent amid higher US treasury yields and a hawkish Federal Reserve. Domestic employment data did little to move the AUD with unemployment rate edging higher, up to 3.8%, yet holding onto most of the decline seen in February when the rate fell from 4.1% to 3.7%. If we exclude January as a seasonal outlier the unemployment rate has tracked below 4% through the last two years, suggesting there is resilience within the labour force despite signs employment growth is stalling. This latest print does little to alter market expectations for RBA monetary policy and we are still looking toward a possible cut in Q4. Having tracked between US$0.6440 and US$0.6450, the AUD then fell through overnight trade amid the prospect of a potential US rate hike. Fed policy makers made clear that if inflation remained sticky and the data indicated a rate hike was needed to bring inflation back to target then that is what they would do. Having slipped below US$0.6420 the AUD tracked sideways into this morning’s open and currently trades at US$0.6419. With no domestic data on hand to drive direction we look to Japan CPI and UK retails sales as the only items of note on the macroeconomic calendar. US yields will continue to determine direction and we anticipate the AUD will remain on the back foot next week. Key Movers The US dollar is stronger this morning having reversed losses suffered through trade on Wednesday amid hawkish Fed commentary and a general risk-off tone. Yields pushed higher after NY Fed President and FOMC member Williams suggested another rate hike was not out of the question, stating “monetary policy is in a good place, I am in no hurry to cut interest rates and if the data are telling us that we need higher interest rates to bring inflation back to target then we obviously want to do that”. With USD again on the front foot, the euro slid back below 1.0650, while sterling gave up 1.2450 and the yen again gave up 154.50 and appears poised to break through 155. US treasury Secretary Yellen and the Finance Ministers of Japan and Korea met to discuss the recent and sharp depreciation of the yen and the won, offering a joint statement acknowledging the US would not stand in the way of any official currency intervention. Upon release of the statement the yen tracked higher, but Treasury yields carried the day and the USD recovered losses and is back near 154.70 on open this morning. Our attentions turn now to Japanese CPI data and UK retail sales data as the only tier one data headlining an otherwise quiet macroeconomic calendar. Expected RangesAUD/USD: 0.6380 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9500 ▲AUD/NZD: 1.0820 - 1.0920 ▼AUD/CAD: 0.8800 - 0.8900 ▼

Forex Today: Stocks Tumble – Sell in May and Go Away?

Apr 18, 2024 | 00:27 am

Stocks Make Deepest Pullback in Months; Precious Metals Remain Strong; Dollar Weakens After G7 Statement; Several Trends May Be Reversing

AUD finds support as market ignores risk off tone

Apr 17, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar outperformed through trade on Wednesday, pushing back against recent losses to break above US$0.6450. Commodity currencies were well supported as currency markets ignored a broader risk-off mood and instead forced the USD lower amid a steady fall in treasury yields across the curve. With the USD on the back foot, the AUD found support in higher iron ore prices and stability across the Chinese yuan daily fixing. PBOC officials set a rate largely unchanged from the week's earlier downward revision helping stabilise the yuan and limiting the negative spillover into the AUD as a proxy. Reports of increased activity across China’s steel mills help drive a 5.5% increase in iron ore prices and a break back above $115, adding a floor under the AUD at US$0.64 for the day. Our attention now turns to domestic labour market data for March. Stability across the employment landscape will give the RBA confidence in maintaining the current policy setting and may lend support to the AUD ahead of US jobless claims and commentary from 3 key Fed officials. Key Movers The euro was the day's notable outperformer Wednesday up half a percent and back through 1.0650, marking session highs at 1.0670. European Central Bank President Christine Lagarde paved the way for the Euro advance, suggesting there were clear signs of a euro area recovery and that the Bank was closely monitoring the exchange rate and its potential impact on the euro and inflation. While euro bonds fell, US treasuries also retreated and markets appeared content in ignoring a broader risk-off tone, forcing the USD lower against most major counterparts. UK yields rallied after a stronger-than-expected UK CPI inflation print, driven by a surprise uptick in services inflation. While Governor Bailey suggested he expected a significant correction in next month’s numbers, market pricing for BoE policy change barely shifted with a first full cut not priced in until September, leaving August an outside chance should policymakers choose to move early. Sterling edged higher against the USD, pushing back above 1.2450, yet falling short of a break above 1.25. Our focus now turns to US jobless claims and commentary from key ECB and Fed officials. Expected RangesAUD/USD: 0.6380 - 0.6500 ▲AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▼AUD/NZD: 1.0800 - 1.0900 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Bitcoin Halving: Will it Trigger a Market Frenzy?

Apr 17, 2024 | 04:41 am

Bitcoin is all over the news, as “Bitcoin halving” is expected to occur on Friday, April 19. What is Bitcoin halving and how will it affect the price of Bitcoin?

Forex Today: US Yields Rise on Powell Cut Delay Signal

Apr 17, 2024 | 02:00 am

Fed Chair Powell Says Inflation Falling Too Slowly; Israel Hints at Soft Retaliation, Crude Oil Weaker; USD/JPY Reaches New 34-Year High at ¥154.79; UK CPI Higher Than Expected; Bitcoin Close to Halving

AUD slide continues on heels of softer yuan spills

Apr 16, 2024 | 17:00 pm

AUD - Australian dollar Another day and another move lower for the AUD as ongoing weakness across equity markets, a risk-off tone and a lower fixing by the People's Bank of China forced the AUD to mark fresh 2024 lows. The AUD slid through supports at US$0.6440/50 tumbling toward US$US0.64 after the People's Bank of China set a lower fix for the CNY, suggesting there is some flexibility for the yuan to depreciate against the USD in line with markets and yield performance. While state banks sold USD to limit CNY losses the move weighed on the AUD as a proxy among majors. The AUD was unable to recover the early losses and tracked sideways through the overnight session testing a break below US$0.64 before edging back above this critical handle leading into the morning open. We start the day on the back foot and with no headline data on the domestic docket look offshore to NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires. With inflation pressures taking longer than expected to dissipate we are looking for any clues as to the timing and trajectory of monetary policy change. Key Movers The dollar traded within a narrow range through Tuesday as with much of the action across financial markets contained to equities, yields and rates. US Treasury yields marked fresh 2024 highs while US equities had a mixed session with both the Dow and S&P 500 closing lower. The DXY index traded up 0.16%, buoyed by softness across risk currencies and an extension against the yen. The risk of intervention continues to hang over the yen, yet the USD retained its upward trajectory as markets pushed back against comments from Japanese currency officials. The prohibited cost associated with intervention has allowed markets some scope to doubt calls by officials that intervention is imminent. With US yields driving gains markets remain on edge and we continue to monitor comments. The euro and GBP changed little with the euro trading near US$1.062 and GBP sliding below US$1.2450 and trading near US$1.2430. NZ, UK and Eurozone CPI data and commentary across several Central banks with members from the Fed, Bank of England and European Central Bank hitting the wires will drive direction through the day. Expected RangesAUD/USD: 0.6350 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9250 - 1.9550 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8800 - 0.8900 ▲

Forex Today: Stock Markets See Strong Selling

Apr 15, 2024 | 23:10 pm

Global Stock Markets Firmly Lower; Israel Signals Retaliation Likely Soon; USD/JPY Reaches New 34-Year High at ¥154.44; Energies, Precious Metals Firm; Markets Await Canadian CPI Data

AUD tumbles in face of US economic resilience

Apr 15, 2024 | 17:00 pm

AUD - Australian dollar Against a backdrop of support for the USD, the AUD underperformed through trade on Monday, marking fresh year-to-date lows sliding below US$0.6450. Markets adopted a cautious tone to start the week amid fears tensions in the Middle East are set to escalate following targeted drone and missile attacks launched by Iran. While Israel was afforded advanced warning and nearly all projectiles were intercepted, markets are still fearful of an Israeli counterstrike despite Western Allies urging restraint. A risk-off tone elevated demand for the USD pushing the AUD toward US$0.6450. The AUD then extended below the February year-to-date low, touching US$0.6441, after US retail sales surpassed expectations. The hotter-than-anticipated print points to US economic resilience and forced investors to reconsider Fed pricing expectations, driving US yields higher. A stable yuan did afford the AUD some support with PBOC policymakers intervening to set a higher fixing and increase the costs of shorting the CNY against the USD. With the AUD under pressure, our attentions turn to China activity data, UK labour data and Bank of England Commentary as Governor Bailey hits the wires. Key Movers The USD outperformed on Monday amid a risk-off tone and ongoing signs of economic resilience. Growing tensions in the Middle East and elevated Fears Israel will retaliate and strike back against Iran prompted a risk-off mood leading into trade on Monday. At the same time, stronger-than-expected US retail sales drove US treasury yields higher and forced a shift in Fed pricing expectations. US retail sales printed well above expectations while February numbers were revised higher suggesting consumer spending remained strong through Q1 and provides solid momentum leading into Q2 giving the Fed no reason to consider raising rates before the end of Q3. Against a backdrop of higher yields the Japanese yen underperformed. The USD is up over half a per cent and broken through 154, testing levels not seen in 34 years. Many expected the Bank of Japan and Ministry of Finance would intervene well before these levels, but with losses driven by the outperformance in US treasury yields intervention would be largely ineffective and incredibly costly, thus markets have ignored the jawboning from Japanese officials. Our attention remains on the Middle East and risk demand while UK labour data, China activity data, commentary from the Bank of England Governor and Canadian CPI data dominate a crowded macroeconomic ticket. Expected RangesAUD/USD: 0.6400 - 0.6500 ▼AUD/EUR: 0.6000 - 0.6100 ▼GBP/AUD: 1.9200 - 1.9500 ▲AUD/NZD: 1.0850 - 1.0950 ▲AUD/CAD: 0.8820 - 0.8930 ▼

Forex Today: Risk Sentiment Improves as Mideast Tension Lowers

Apr 15, 2024 | 00:51 am

Immediate Retaliation Against Iran Unlikely; USD/JPY Breaks Out to New 34-Year High Near ¥154; Market Await US Retail Sales Data

Aussie dollar trades below US$0.65

Apr 14, 2024 | 17:00 pm

AUD - Australian dollar The Australian dollar is weaker this morning when valued against the Greenback, currently trading at 0.6458 at time of writing. The Aussie dollar came under some renewed selling pressure on Friday and extends its steady intraday descent through the early part of the European session. Spot prices touch a fresh daily low following the release of weaker Chinese trade data, albeit manage to hold above the 0.6500 psychological mark. Some follow-through selling below the 0.6480 area, or the monthly low, will reaffirm the negative bias and allow the AUD/USD pair to aim back to challenge the YTD trough, around the 0.6445-0.6440 region touched in February. The downward trajectory could extend further towards the 0.6400 mark en route to the next relevant support near the 0.6355-0.6350 zone. Last week the ANZ-Roy Morgan Consumer Confidence Index recorded a slight decrease, reflecting Australians’ growing concerns about their financial situations and the national economy’s future. The ANZ-Roy Morgan Consumer Confidence Index fell by 0.9 points this week to 81.9, marking a record 62 consecutive weeks below the 85-point threshold. Despite the decline, the index remains 2.6 points higher than the same week last year and just one point below the 2024 weekly average of 82.9. The current economic environment has kept consumer confidence below 85pts for a record 62 weeks, 23 weeks longer than during the 1990s recession. Looking ahead this week and on Thursday all eyes will be on the Australian Bureau of Statistics Unemployment Rate decision, which is expected to see the jobless rate increase from the previous month from 3.7% to 3.9%. Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions. Key Movers The US Dollar Index (DXY) is trading above the 106.00 mark, attaining its highest level since early November. The Index's upward movement is largely driven by rising US yields and a hot inflation data environment that favours the US dollar. In addition, Federal Reserve (Fed) officials expressed fewer possibilities for rate cuts this year, and an increase in hawkish bets is another driver boosting the currency. Last week, inflation in the US, as measured by the change in the Consumer Price Index (CPI), rose to 3.5% on a yearly basis in March from 3.2% in February, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in above the market expectation of 3.4%. The annual core CPI, which excludes volatile food and energy prices, rose 3.8% in the same period, matching February's increase. On a monthly basis, the CPI and the core CPI both rose 0.4%, compared to analysts' estimate of 0.3%. Gold price finished the week with modest gains of 0.59% after reaching an all-time high during the North American session on Friday. Price action was volatile as geopolitical risks sparked a flight to safe-haven assets, driving the non-yielding metal toward $2,431, a new all-time high, before retreating on overall US dollar strength. At the time of writing, the XAU/USD exchanges hands at $2,343, down 1.18%. U.S. energy shares are soaring as investors benefit from rising oil prices and a stronger-than-expected economy, while seeking to protect their portfolios from a feared resurgence of inflation. The S&P 500 energy sector is up about 17% in 2024, roughly doubling the broader index's year-to-date return. Its gains have accelerated in recent weeks, making it the S&P 500's best performing sector in the past month. Expected RangesAUD/USD: 0.6350 - 0.6550 ▼AUD/EUR: 0.5950 - 0.6150 ▼GBP/AUD: 1.9100 - 1.9300 ▲AUD/NZD: 1.0750 - 1.0950 ▲AUD/CAD: 0.8800 - 0.9000 ▼

Forex Today: US Monthly CPI Unchanged, Triggers Hawkish Shift on Rate Cuts

Apr 10, 2024 | 23:28 pm

US CPI data released yesterday showed the annualized rate rising higher than expected to 3.5%.

US Inflation Higher Than Expected, Accelerates to 3.5%

Apr 10, 2024 | 09:37 am

US inflation for March rose 3.5% year-on-year. This was higher than expected and the US dollar is higher following the inflation release.

Forex Today: US CPI Expected to Show Slower Monthly Increase

Apr 9, 2024 | 23:43 pm

US CPI data will be released today, with the market expecting a slower pace of monthly increase.

Forex Today: Gold Makes New Record at $2,354

Apr 7, 2024 | 23:24 pm

Metals Rise Strongly to New Highs; USD/JPY Likely to Retest 34-Year High at ¥152; Crude Oil, Gasoline Futures Pull Back From Highs

Forex Today: Gold Beats $2,300

Apr 4, 2024 | 00:08 am

Spot Gold has continued to rise to new all-time high prices.

Forex Today: Gold Makes New Record at $2,288

Apr 2, 2024 | 22:27 pm

Precious Metals Rise Firmly to New Highs; Fed’s Daly Expects 3 Rate Cuts in 2024; USD/JPY Remains Close to 34-Year High Near ¥152; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

German Inflation Eases to 3-Year Low

Apr 2, 2024 | 07:54 am

Germany’s CPI climbed 2.2% year-on-year in March, down from 2.7% in February and matching expectations. This is the lowest inflation rate since May 2021.

Forex Today: Yen Nears Record Low, Markets Await Possible BoJ Intervention

Apr 1, 2024 | 23:20 pm

USD/JPY Advances Close to 34-Year High Near ¥152; US Dollar Stronger on Firm US Manufacturing Data; Crude Oil Breaks Higher; Eyes on Cocoa Futures After Spectacular Gains

Forex Today: Gold Hits $2265 Per Ounce

Mar 31, 2024 | 23:13 pm

Gold Reaches Record High in Asian Session; USD/JPY Remains Below Record High Near ¥152; Strong Chinese Manufacturing Data; Eyes on Cocoa Futures After Spectacular Gains

United States GDP Expanded in Fourth Quarter by 3.4%

Mar 28, 2024 | 07:44 am

US GDP rises 3.4%, Canada GDP rebounds; US dollar steady, while stock markets show little movement following the announcement.

Forex Today: Fed’s Waller: No Rush to Cut Rates, Prospect of Hikes Remote

Mar 28, 2024 | 01:25 am

US Fed’s Waller Reiterates Ongoing Fed Message of Slow Path to Rate Cuts; USD/JPY Remains Below Record High Near ¥152; Cocoa Futures Make Another Record High Close; Gold Also Makes Record High Closing Price

Forex Today: Japanese Yen Hits 34-Year Low

Mar 27, 2024 | 00:13 am

USD/JPY Hits Record High Near ¥152, Japanese Officials Try to Talk Up Yen; Cocoa Futures Surpass $10,000 to Hit All-Time High; Aussie CPI Unchanged

Forex Today: Cocoa Futures Break $9,000 for Record High

Mar 26, 2024 | 00:38 am

Cocoa Futures Gain 8% in a Day; US Stocks, Gold Remain Bullish; Japanese Officials Try to Talk Up Yen; Bitcoin Rises Above $70k Despite Record Crypto Fund Outflows

United States Federal Reserve Holds Interest Rates, Remains Cautious

Mar 21, 2024 | 04:26 am

The Federal Reserve left interest rates unchanged for a fifth straight time at its meeting on March 20. The US dollar fell against the major currencies following the announcement.

Forex Today: Fed Says 3 Rate Cuts in 2024, Stocks, Gold Boom

Mar 21, 2024 | 00:07 am

Fed Gives Dovish Surprise by Forecasting 3 Cuts in 2024; Markets Await BoE, SNB; Gold, Stock Markets Reach Record Highs; Japanese Yen Regains Ground; Bitcoin Pares Losses; UK CPI Falls

Forex Today: Markets Await FOMC Meeting

Mar 20, 2024 | 00:06 am

FOMC Expected to Leave Rate at 5.50%; Japanese Yen Continues to Fall After BoJ; Bitcoin Weaker; Markets Await UK Inflation Data, New Zealand GDP

Forex Today: Bank of Japan Ends Negative Interest Rates

Mar 19, 2024 | 00:26 am

BoJ Makes First Rate Hike Since 2007, Japanese Stocks Rally, Yen Weakens; RBA Leaves Rates at 4.35%; Cocoa Futures Slightly Lower After Record High Yesterday; Bitcoin Weaker; Markets Await Canadian Inflation Data

Forex Today: Markets Expecting First BoJ Rate Hike in 17 Years

Mar 18, 2024 | 00:19 am

90% Expect BoJ to Ditch Negative Rates Policy Tuesday, Japanese Stocks Rallying; Bitcoin Rising After Another Record High Thursday; Cocoa Futures Roar Ahead With Dramatic Gains

Forex Today: Markets Await US PPI

Mar 14, 2024 | 00:24 am

US PPI Expected at 0.2%; Bitcoin Makes Another Record High Above $73,000; Cocoa Futures Roar Ahead.

Forex Today: US Inflation Ticks Higher to 3.2%

Mar 12, 2024 | 23:29 pm

US CPI Rises Unexpectedly; S&P 500 Makes Record High Close; Bitcoin Makes All-Time High Above $73,000

US Inflation Rises Unexpectedly to 3.2%

Mar 12, 2024 | 07:02 am

The US consumer price index (CPI) climbed 3.2% year-on-year in February, up from 3.1% in January and above the market estimate of 3.1%.

Forex Today: Markets Expecting Unchanged US Inflation Data

Mar 12, 2024 | 01:03 am

US CPI Seen at 3.1%; Bitcoin Hits New Record Below $73,000; Gold’s Bullish Momentum Starts to Pause

Forex Today: Gold, Bitcoin Looking Bullish Near Friday’s Record Highs

Mar 11, 2024 | 00:17 am

Gold, Bitcoin Advancing Again; Yen Higher on Japanese Rate Hike Bets and GDP Growth

ECB Maintains Interest Rates, Revises Lower Inflation Forecast

Mar 7, 2024 | 14:06 pm

The European Central Bank (ECB) maintained its deposit rate at a record high of 4.00% at today’s policy meeting. This decision was widely expected, and the Euro’s response has been muted.

Forex Today: Gold Makes New Record High Above $2161

Mar 6, 2024 | 23:41 pm

Gold Powers to New All-Time High; Powell Says Inflation Progress Not Assured; Japanese Rate Hike Seen Likely as Wages Rise; Bank of Canada Holds Rates; Markets Await ECB Meeting

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