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,...
RBNZ’s Hawkesby: High, sticky core inflation leaves little room for error
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,...
There’s no stopping the climb in New Zealand house prices
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,...
EURUSD dips to key technical support. Weaker Eurozone CPI helps the sellers today
EURUSD falls to technical barometer near 38.2% retracementThe EURUSD pair recently hit a new session low, testing a critical swing area and the 38.2% Fibonacci retracement level, ranging between 1.0878 and 1.0887. The pair's low touched 1.08829, influenced partly by...
Another reason why Christine Lagarde is embodiment of everything that’s wrong with Europe
Not a single ECB press conference goes by without Christine Lagarde highlighting the war in Ukraine as she takes every opportunity to call it "unjustifiable" and express her horror -- the ECB even has a special section about it on its website. I'm not here to argue...
Oil Price Forecast: WTI Slips as OPEC+ Voluntary Cuts Fail to Convince
OIL PRICE FORECAST:Oil Failed at the 200-Day MA as the Technical and Fundamental Factors Weighed on the Price.OPEC+ Announce 2 Million bpd Cuts for Q1 2024 but it Appears Markets Expected More.Will the Bulls Recover or is a Retest of $70 a Barrel on the Cards?To Learn...
USDJPY Rebounds: Will Powell’s speeches tomorrow lead to the next shove for the pair?
In today's trading, the USDJPY experienced a notable rebound, with its key technical targets positioned above, including the 200-hour moving average at 148.45, a swing area between 148.44 and 148.59, and the 38.2% Fibonacci retracement of the decline from the November...
The tally on the new OPEC+ cut is 684,000 barrels per day
The tally is in for the OPEC+ set of voluntary cuts announced today. If you set aside the Russian and Saudi Arabian cut extensions, the total is 684K barrels per day. That's not as much as some were hoping for but it's surely more than was expected a few weeks ago,...
Treas Sec Yellen:Hopes Americans will gradually recognize improvements in their situation
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Major oil-producing countries announce voluntary 2.1M BPD(ish) reductions
The back of the envelope "voluntary cuts" in production/exports shows:Saudi Arabia: 1 million BPDRussia: 500,000 BPDIraq: 211,000 BPDUAE (United Arab Emirates): 160,000 BPDKuwait: 135,000 BPDKazakhstan: 82,000 BPDAlgeria: 51,000 BPDOman: 42,000 BPD That totals around...
ECBs Nagel: Considers further rate hikes as inflation risk persist
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,...
NASDAQ index on pace to end the month with a 2 day decline
The NASDAQ is on pace for its 2nd consecutive day to the downside. The price has been down 4 of the last 5 trading days. That sounds ominous, but the price is only down -0.85% over that period - with today's decline of -0.78% the bulk of the decline. Also for the...
Atlanta Fed GDPNow estimate for Q4 growth comes in at 1.8% from 2.1%
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,...
Saudi Arabia says that voluntary cut will be gradually tapered starting in April
The good news here is that they're not bringing back the barrels all at once, the bad news is that barrels are definitely coming in Q2.Update: Russia says its 500k bpd voluntary cut will extend until the end of Q1, which is up from 300k bpd.I think there's some logic...
European equity close: Tie a bow on a great month
The major European indices are closing the day mostly higher. The exception is Spain's Ibex which is closing near unchanged.On the day:STOXX 600 +0.51%German DAX, +0.30%France CAC, 0.59%UK FTSE 100 0.41%Spain's IBEX -0.04%Italy's FTSE MIB, 0.20%For the trading month,...
OPEC+ statement says the next meeting will be in June but offers little else
There have been all kinds of reports of OPEC+ cuts and voluntary cuts but the press release is out and it says nothing about cuts. That's probably not a big surprise because of earlier reports saying they will be voluntary and announced by individual members but it's...
NZDUSD rebounds from support and eyes upside momentum
The NZDUSD moved lower with the USDs run higher, but has snapped back higher after testing the high of a swing area going back to the end of July/early August between 0.6104 and 0.6117 (see red numbered circles on the chart below). The low price reached 0.6118 and...
Sui Surpasses $150M in TVL, Showcasing Blistering DeFi Momentum
Sui, the pioneering Layer 1 blockchain and smart contract platform created by the technology team that emerged from Meta’s Diem Blockchain project, has accelerated beyond expectations in just over six months since its mainnet launch, surpassing $150 million in Total...
OPEC meeting ends, oil down more than $2
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BOE’s Greene: Policy may have to be restrictive for an extended period of time
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,...