Yesterday's data for last quarter showed that US GDP growth was estimated at 4.9% year-on-year, although GDP growth was expected to remain unchanged at 5.2%.
This disappointing performance could put pressure on the Fed to cut rates. After data is published:
→ the market has increased the likelihood of a rate cut by March to 83% from 79%, as evidenced by...
EUR/GBP is gaining pace and might extend its rally above the 0.8700 zone.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP started a fresh increase above the 0.8620 resistance zone.
· There is a major bullish trend line forming with support near 0.8640 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at...
GBP/USD is attempting a fresh increase from the 1.2610 zone.
Important Takeaways for GBP/USD Analysis Today
· The British Pound is trading in a bullish zone above 1.2600 against the US Dollar.
· There was a break above a key bearish trend line with resistance at 1.2640 on the hourly chart of GBP/USD at FXOpen.
GBP/USD Technical Analysis
On the hourly...
Fixed exchange rates, a cornerstone of international finance, play a pivotal role in shaping global commerce and investment landscapes. This article delves into their intricacies, exploring the historical evolution, practical understanding, and the balance of benefits and challenges they present.
Historical Context of Fixed Exchange Rates
The concept of a fixed...
Optimism associated with the SEC regulator's approval of applications to launch BTC-ETF is the main driver of Bitcoin price growth.
Coindesk reports that representatives from BlackRock, Nasdaq and the Securities and Exchange Commission (SEC) met for the second time in a month to discuss rule changes required for the listing of an exchange-traded BTC-ETF.
And...
The S&P 500 fell 70.02 points, or 1.47%, to 4,698.35 yesterday, according to Dow Jones Newswires. This is the largest one-day point decline since Thursday, September 21, 2023.
Of the 500 stocks in the index, only 19 closed in the green. Of these, Google shares, as the company announced plans to reorganize its advertising department, which employs 30 thousand...
Amazon shares are up approximately 79% year to date in 2023, outperforming the S&P 500. This reflects the company's strong fundamentals:
→ Amazon's third-quarter results beat Wall Street estimates, helped by growth in its cloud and advertising businesses. According to Barchart, analysts are forecasting AMZN's earnings growth of 35% in fiscal 2024, as well as...
Gold price gained traction and climbed above the $2,030 resistance level.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a decent increase from the $1,975 zone against the US Dollar.
· A connecting bullish trend line is forming with support near $2,030 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the...
Crude oil price is recovering, and it could climb further higher toward the $78 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices rallied above the $71.00 and $73.00 resistance levels.
· There is a key bullish trend line forming with support near $73.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis...
In the realm of international stock investment, understanding and managing currency risks is pivotal. This risk can substantially influence the returns on global investments, making it essential for investors to grasp its nuances and develop strategies to mitigate its impact. Today, we’ll delve into different types of currency risks, factors influencing these...
This morning, the Bank of Japan decided to leave interest rates unchanged at -0.10%. Its head, Kazuo Ueda, stated that:
→ the chances that the current ultra-loose monetary policy will change in January are very small;
→ further decisions of the Bank of Japan will be based on incoming economic information.
Thus, rumors that the Bank of Japan might raise rates from...
On Friday, the rate dropped below 1.366 for the first time since the beginning of August. This was facilitated by fundamental drivers:
→ The US dollar weakens after the Federal Reserve meeting, which signaled the possibility of lowering interest rates next year. Powell said monetary tightening is likely complete and discussions about cuts are "on the horizon."
→...
As artificial intelligence (AI) weaves into the fabric of global industries, it sparks a crucial inquiry: Is the soaring valuation of AI stocks a sign of a robust future or a bubble waiting to burst? This article delves into the financial phenomenon, dissecting the realities behind the AI market's ascent.
What Is a Bubble?
A financial bubble represents a market...
An eventful news background creates increased volatility in financial markets.
Unlike the Fed, whose rhetoric is becoming softer, Europe's central banks are sticking to plans to maintain tight policies. The ECB said yesterday that policy easing was not even discussed at its two-day meeting, the Bank of England said rates would remain high for an "extended...
GBP/USD is the third most actively traded currency pair on the foreign exchange market, after EUR/USD and USD/JPY. It is also one of the oldest pairs traded on forex. The British pound continues to cost more than the US dollar, despite the dollar overtaking it as the global reserve currency.
Why is the British pound stronger than the US dollar? In this FXOpen...
USD/CHF declined and now struggling below the 0.8700 resistance.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF declined below the 0.8705 and 0.8665 support levels.
· There is a key bearish trend line forming with resistance near 0.8665 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the pair...
EUR/USD started a fresh increase above the 1.0890 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro rallied after it broke the 1.0890 resistance against the US Dollar.
· There is a connecting bullish trend line forming with support near 1.0955 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
Since November 1, the price of natural gas has fallen by more than 30%. This was facilitated by:
→ relatively mild weather at the beginning of the winter period;
→ record volumes of liquefied gas production, as reported by Reuters. Analysts estimate there is currently about 7.8% more gas in storage than normal for this time of year.
On December 13, the price of...
