High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Kickstart the FX day for March 6 with a technical look at the EURUSD, USDJPY and GBPUSD
There is a lot of fundamental news today with the UK budget, Fed Chair Powell's testimony on Capitol Hill, and the Bank of Canada interest-rate decision highlighting the calendar of events. All of which has the opportunity to upset the apple cart (i.e the market)....
US dollar softens as Powell keeps rate cut path in play
The US dollar is near the lows of the day and equity futures are at the highs, with S&PO 500 futures up 29 points. The dollar has fallen 10-15 pips since the text of Federal Reserve Chairman Jerome Powell's appearance in Congress was released. In it, he maintained...
UK budget: Will extend oil and gas windfall tax and change non-resident tax rules
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Powell: Will likely be appropriate to begin cutting rates some time this year
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Canada Q4 labor productivity rate 0.4% versus -0.5% (revised) last quarter
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
NVDA price forecast, this rocket may be going to $1050
Bringing you a new analysis of NVIDIA's (NVDA) impressive journey and what the future holds for this tech giant. 📈 Someone curious in one of our groups asked about NVDA's direction, sparking me to share insights using what I call the "Levitan Method". Back when NVDA...
ADP February employment +140K vs +150K expected
ADP employment surveyThe median change in annual pay:Job stayers 5.1% versus 5.2% last monthJob changers 7.6% versus 7.2% last monthStrong sectors were construction, trade/transport/utilities, financial services and leisure/hospitality. Weak spots were natural...
ForexLive European FX news wrap: Yen gains ebb, Bitcoin rebound holds strong
Headlines:Markets:JPY leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields up 0.8 bps to 4.144%Gold up 0.3% to $2,134.31WTI crude up 0.8% to $78.81Bitcoin up 4.4% to $66,150It was mostly another quiet session for major...
UK finance minister Hunt delivers pre-election budget
Outside of the whole 'mini-budget' fiasco involving Liz Truss and Kwasi Kwarteng back in September 2022, budget days aren't really big market movers for gilts and the pound. This time around, it should be no different. Jeremy Hunt is now speaking in parliament and is...
US MBA mortgage applications w.e. 1 March +9.7% vs -5.6% prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Dollar eases, Powell and central banks in focus
EUR/USD strengthened during the European session as the USD lost ground after lower than expected ISM data. The pair is heading towards the 1.0915 level of resistance. Powell will likely reiterate in his Congress testimony today that there's no rush for the Fed to cut...
Nikki Haley reportedly set to pull out of Republican presidential race
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
USD/CAD expected to fall to 1.30 amid dim dollar outlook – poll
The March poll of 40 foreign exchange analysts shows that the median forecast was for USD/CAD to fall to 1.34 in three months' time. In a year's time, the pair is expected to fall to 1.30 - matching the estimate in the February poll. The expected drop comes as some...
US futures drive higher ahead of Powell, ADP employment data later in the day
S&P 500 futuresTech shares are leading the charge with Nasdaq futures seen up 0.8% at the moment. But the better mood in general is also driving European indices a little higher on the session. The DAX is up 0.2% while the CAC 40 is up 0.3% at the moment. The...
Eurozone January retail sales +0.1% vs +0.1% m/m expected
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Germany’s Ifo institute also cuts 2024 GDP forecast
This is the second time this year that Ifo has moved to cut the German growth forecast for 2024. The first was the revision lower in January to 0.7%, down from 0.9% in December. And then now, they are moving to cut that forecast to just 0.2%. On the change, Ifo says...
UK February construction PMI 49.7 vs 49.0 expected
Prior 48.8UK construction activity fell marginally in February as the data continues to point to improved demand conditions. Overall output levels are starting to stabilise now with business optimism improving to its highest since January 2022. S&P Global notes...
Market Recap – Gold & Bitcoin to New Record Highs
Economic Indicators & Central Banks: Risk appetite boosts Bitcoin and Gold to new record highs – boosted by expectations for US rate cuts, geopolitical tensions & the risk of a pullback in equity markets. The remarkable ascent of Bitcoin, which has...
Germany’s IfW Kiel economic institute slashes 2024 GDP forecast
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...