On the technicals, ANZ note the recent high around $2,195 as resistance:a break of this resistance targets above $2,200ANZ are wary of a correction first through, "a healthy price correction looks in the offing:", citing:RSI suggests an overbought level If a...
Fitch wary on China – says property collapse is continuing “unabated”
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US Dollar Seeks Fed Signals in PPI, Retail Sales Data – EUR/USD, USD/JPY Setups
US DOLLAR FORECAST – EUR/USD, USD/JPYThe U.S. dollar slides but rising U.S. yields keep losses containedU.S. PPI and retail sales data on Thursday will steal market’s attentionThis article examines the outlook for EUR/USD and USD/JPYMost Read: Euro Outlook &...
The Federal Open Market Committee (FOMC) meet next week – “the risk leans a bit hawkish”
The Federal Open Market Committee (FOMC) meet on March 19 and 20. Market expectations heading into the meeting are, at present, slightly above 50% for a June 25bp rate cut. Analysts at Wolfe Research in the US are flagging a concern:“We think the risk leans a bit...
BOJ plans to discuss ending negative interest rates at next week’s meeting
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Forexlive Americas FX news wrap 13 Mar: Forex rates muddle along ahead of PPI/retail sales
The US trading day was void of economic releases. The Fed is in a blackout period ahead of the rate decision next Wednesday. There was oil inventory data released, and it showed a surprise drawdown of -1.536M when the market was expecting a build of 1.338M. That kept...
Fitch expect both the Fed and ECB to cut rates 3 times, by a total of 75bp, by year-end
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GS Asset Management re-enters US commercial real estate, citing buying opportunities
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Down day for the broader S&P and Nasdaq indices
It was a down day for the broader US stock indices with the NASDAQ index leading the way to the downside. The Dow 30 stocks did rise modestly. The S&P could not hold onto gains into the close and in doing so, did not close at a new all-time high.The final numbers...
Yellen says it seems unlikely that interest rates will return to pre-pandemic lows
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Economic calendar in Asia Thursday, 14 March 2024 – another nearly empty one
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Trade ideas thread – Thursday, 14 March, insightful charts, technical analysis, ideas
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Atlanta wage growth tracker for February remains at 5%
The Atlanta Fed's Wage Growth Tracker was 5.0 percent in February, the same as for January. For people who changed jobs, the Tracker in February was 5.3 percent, down from 5.6 percent in January. For those not changing jobs, the Tracker was 4.7 percent, unchanged from...
Sellers pushing stocks lower. Major indices now negative on the day
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NZDUSD ping-pongs between low of swing area and 100 hour MA. Waiting for the next shove.
The NZDUSD started the day with a move below the low of a swing area at 0.6148. However, the price started to find buyers later in the Asian session, and in the process moved through the high of a swing area at 0.6159. That break took the price up to test its 100 hour...
Crude oil futures settle at $79.72
Crude oil futures are settling at $79.72. That's up to dollars and $0.16 or 2.78%. The price today reached $79.78. The low price was at $77.57.Crude oil futures settle at $79.72The price today is moving away from it 200-day moving average at $77.99 and also its 38.2%...
US stocks remain mixed (like at the open)
At the start of the US session, the Dow industrial average was higher, the S&P was near unchanged, and the NASDAQ index was down around -0.30%.At 2:15 PM ET, the pattern remains the same. A snapshot of the market currently shows:Dow Industrial Average up 120...
AUDUSD shows two technical bullish tilts in the NY session
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Stock market update: Semiconductor stocks plunge, Amazon and Google show resilience
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The metals are shining today as gold, silver and copper rally
The metals are shining today.Gold rose to a fresh high after the latest US 30-year auction, adding $2 to a $20 gain and rising to $2177 on the day. That's about $16 shy of last week's all time high.Copper and silver are looking to join the gold breakout. Copper is up...