Month: October 2022

Technical Analysis

USDCHF runs above MA resistance and heads to the next target area

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In the weekend forex video – “Three down. Three to go” – I outlined how the USDCHF closed just below the 100 bar MA on the 4-hour chart near 0.9973 and that a move above that MA level would have traders targeting the 50% of the move down from the cycle high this year at
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Finance

McDonald’s earnings beat as customers return despite higher prices

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In this article MCD Follow your favorite stocksCREATE FREE ACCOUNT McDonald’s on Thursday said traffic to its U.S. restaurants is growing, helping the fast-food giant top analysts’ expectations for its quarterly earnings and revenue. The company is bucking a trend seen by other chains, which have reported shrinking traffic after raising menu prices. Many restaurants, including McDonald’s and its
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News

Now isn’t the time for over-confidence in election polls

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Tuesday, November 8 is election day in the United States as Americans cast a vote for all of the House and one-third of the Senate. Most market-watchers assume Democrats will lose either the House or the Senate. That’s why when Biden floats taxing oil companies on windfall profits, it rings hollow. Lately, the momentum has
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News

Gold falls Rs 146; silver declines Rs 794

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Gold price in the national capital fell Rs 146 to Rs 50,612 per 10 grams on Monday amid a drop in precious metal prices in the overseas market along with appreciation in rupee, according to Securities. In the previous trade, the yellow metal had touched Rs 50,758 per 10 grams. Silver also declined by Rs
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News

Dollar Rebounds, Aussie Weakens ahead of RBA

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Dollar rebounds broadly today as US futures turn south, pointing to a lower open. Yen is back under some selling pressure. But Euro is also weak despite stronger than expected consumer inflation data, while Sterling and Swiss Franc are also soft. Commodity currencies are mixed with Canadian Dollar on the weaker side. But overall, traders
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FX

NZD/USD marches steadily around 0.5800 despite a buoyant US Dollar

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NZD/USD seesaws around 0.5800 amidst overall US Dollar strength. A mixed sentiment keeps some high-beta currencies trending higher, though capped by a buoyant greenback. The US 3-month/10-year yield curve is inverted, exacerbating recession fears. The NZD/USD slightly advanced during the mid-North American session, despite overall US Dollar strength, though the New Zealand dollar, after reaching
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Technical Analysis

The EUR is the strongest and the JPY is the weakest as the NA session begins

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The strongest to weakest of the major currencies The EURUSD is the strongest of the major currencies and the JPY is the weakest. The EUR strength comes one day after yields moved lower on a less hawkish 75 bp hike by the ECB led to a wander to the downside in the EURUSD. The price
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Finance

Comcast tops expectations as it squeezes out a small gain in broadband subscribers

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In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT The Comcast building in New York. Scott Mlyn | CNBC Comcast on Thursday reported third-quarter earnings that beat analyst estimates, despite seeing revenue slightly decline and continued softness in broadband customer growth. The company’s shares closed 1.5% higher Thursday. Here’s how Comcast did in the
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News

ForexLive Asia-Pacific FX news wrap: Early bid for the US dollar

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The Wall Street Journal had a piece over the weekend from Nick Timiraos, who has gained a reputation as a Federal Reserve ‘insider’. Timiraos wrote suggesting higher rates from the Federal Open Market Committee (FOMC), rates that’ll be held high for longer. Separately Goldman Sachs published a note raising their forecast for Fed rate hikes,
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News

Gold steady as investors brace for Fed policy meeting

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Gold prices were flat on Monday, after declining about 1.3% in the previous session, as investors cautiously awaited the U.S. Federal Reserve’s policy meeting for cues on its rate-hike path. FUNDAMENTALS * Spot gold was little changed at $1,642.59 per ounce by 0046 GMT, while U.S. gold futures were up 0.1% at $1,645.90. * The
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FX

USD/INR Price News: Indian rupee floats around 82.50, Fed, RBI announcements eyed

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USD/INR remains mildly bid while paring the previous weekly losses. Downbeat China data, risk-off mood propel prices even as WTI crude oil drops. Hopes of RBI’s inaction join hawkish Fed bets to keep buyers hopeful. USD/INR picks up bids to consolidate the previous week’s losses around 82.40 during early Monday in Europe. In doing so,
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Blockchain

An introduction to decentralized NFT catalogs

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Over the last year, venture capitalists poured more than $4.6 billion into infrastructure and projects related to nonfungible tokens (NFTs). This infrastructure now needs users. They will come when people understand that they can apply these NFTs not just for speculative purposes but to design and structure their everyday activities. For these, they don’t need NFTs
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Technical Analysis

USDCHF consolidates gains between the 100 and 200 hour moving averages

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The USDCHF is trading higher today after an early dip in the Asian session. Technically, the move to the upside was able to get above a swing area between 0.9917 and 0.99299. Above that, and the price extended above its 100 hour moving average at currently at 0.99355. The high price for the day did
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Finance

Southwest says travel demand still strong, warns Boeing delays could continue into 2024

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In this article LUV Follow your favorite stocksCREATE FREE ACCOUNT A Southwest Airlines Co. Boeing 737 passenger jet pushes back from a gate at Midway International Airport (MDW) in Chicago, Illinois, U.S., on Monday, Oct. 11, 2021. Luke Sharrett | Bloomberg | Getty Images Southwest Airlines on Thursday joined other airlines in forecasting that strong
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News

How did the stocks who released earnings do this week?

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The week is winding down in the US stocks in what was the “Big Week” for earnings. Safe to say, the week was not as bad as the market expected. Looking at the major indices, the indices are currently showing: Dow up 5.52% S&P up 3.67% Nasdaq up 1.87%. So how did the list of
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News

New crop arrival begins to build pressure on Maize prices

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Maize prices in the benchmark market of Chhindwara lost by over 11 per cent month-to-date and around 9 per cent week on week (WoW), thanks to the good weather, which boosted the harvest pace and the new crop arrivals picked up. As the market resumed post-Diwali holidays on October 27, the maize prices in Chhindwara
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FX

GBP/CAD’s rally from 1.5655 reaches three-month highs above 1.5800

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The pound bounces up on Friday to retest the 1.5800 support area. Lower oil prices and a dovish BoC have hit the CAD. GBP/CAD: Above 1.5800, the pair eyes 1.6000 area. The British pound has performed a surprising comeback against the Canadian dollar on Friday, bouncing up from the 1.5655 area to reverse Thursday’s decline and
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Technical Analysis

It seems like one of those up and down Fridays in the forex market

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The forex market seems to be in one of those up and down Fridays. Coming into the weekend – and ahead of the FOMC rate decision next week where the Fed is expected to raise rates by 75 bps – the price action is up and down in some of the pairs. In others –
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