If artificial intelligence is the future, then Sam Altman was the man delivering it. The CEO of OpenAI, which created ChatGPT, was unceremoniously given his pink slip today. The company released a statement that said: Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in
Month: November 2023
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
AI image The upcoming week features a series of significant economic releases, auctions, and reports that market participants will be watching closely. Monday, November 20 The week kicks off with a Treasury auction of 20-year securities worth $16 billion, an event that will give us insights into market demand for long-term government debt. It comes
Goldman Sachs provides insights into the expected monetary policy paths of the Federal Reserve (Fed) and the European Central Bank (ECB), forecasting the timelines for rate cuts and stabilization of policy rates. Key Insights: Federal Reserve Policy Outlook: Hold on Rates: The Fed is expected to maintain the current federal funds rate range of 5.25-5.5%
As the week comes to an end, the USDJPY fell sharply and in the process tested the low from early November at 149.175. The low reached 149.192 before bouncing. The price is trading at 149.74. The double bottom mirrors the double top from the high this week (on Monday). That high was reached on Monday
Share: Mexican Peso’s advance against the US Dollar halts, with USD/MXN bouncing from recent lows despite broad-based USD weakness. Banxico officials hint at a less restrictive monetary policy, yet suggesting gradual rate cuts. Upbeat US economic data and Federal Reserve officials’ resistance to early rate cuts propelled the USD/MXN up move. Mexican Peso (MXN) rallies
USDCAD The USDCAD is lower on the day, and in the process, fell below the 100-hour moving average in the early European session (blue line in the chart above currently at 1.37356). The subsequent fall to 1.3707 (reached in the morning North American session) so the price fall below the swing high from Wednesday and
Today, the AUDUSD has moved up from a swing area support between 0.6445 and a 0.6455 (see red numbered circles on the chart below). The subsequent move to the upside took the price back above its 100-day moving average of 0.64874 (blue overlay line on the chart below). That moving average is – and remains
USDCHF remains below the 0.8900 level. Sellers in control. The tumble lower in the USDCHF took the price below its 100-day moving average at 0.8896 (blue overlayed step line on the chart above), 50% retracement at 0.88999, and Swing level near the 0.89000 level (see red circles on the chart above). Since then, the price
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The GBPUSD is trading below the 200H MA/38.2% retracement Like the EURUSD (see post here), the GBPUSD moved sharply higher on Tuesday helped by the weaker CPI data. That took the pair above its 200-day moving average currently at 1.2443, and 38.2% of the move down from the July high at 1.2458. The high price
EURUSD trades above and below the 50% midpoint The EURUSD has continued to move up and down as the trading week comes to an end. Recall from Tuesday, the parable sharply higher after the lower-than-expected CPI data. That took the price up to a high of 1.0867. On Thursday, the price extended above that level
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
This article was written by ACY Securites’ Michael Moran. Mixed Data, Lower Yields, Fed Uncertainty Weigh on Sentiment Summary: The Dollar Index, a popular gauge of the Greenback’s value against a basket of 6 major currencies ended flat at 104.35, after dropping to 104.00, it’s lowest level since September 2023. A fall in US Inflation
We’re at the end of yet another week filled with impactful data, especially from the US. Throughout this week, we’ve delved into the US CPI and the retail sales. I almost forgot to mention the positive data that came from Australia yesterday. Employment figures rose, but the charts didn’t reflect that positively for the Australian
Share: The Dollar has entered a consolidative phase. Economists at ING analyze USD outlook. Consolidative phase For today, the focus will be on US housing starts and another batch of Fed speakers. Recent Fed speakers have barely moved the needle on expectations of the Fed policy cycle and instead, it has been the data doing
USD The Fed left interest rates unchanged as expected with basically no change to the statement. Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt. The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward.
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Share: Australian Dollar faces challenges due to risk-off sentiment. Australia’s Employment Change report failed to support the AUD. US Initial Jobless Claims reached 231K the highest level in nearly three months. The Australian Dollar (AUD) faces challenges and continues the losses on Friday, despite the downbeat economic data from the United States (US) released on Thursday.
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
GBPJPY has tested the 100 hour MA two times today The GBPJPY is down for the 2nd consecutive day after peaking on Tuesday at the highest level since November 2015. The move down today reached 186.81, and at the time, they price tested its 100-hour moving average (blue line in the chart above). A few
Share: The USD/JPY has slipped back into the 150.50 region. The pair couldn’t hold onto gains above the 151.00 handle. US data sours market sentiment mood on Thursday. The USD/JPY slipped to a Thursday low of 150.30 after a batch of bad US data soured risk appetite. The pair slipped from the 151.40 region as
EURUSD is moving back away from 50% midpoint.Close Risk now. The EURUSD is extending to a new high for the day and a new high for the week surpassing the swing highs from Tuesday and Wednesday near 1.0887. The high price just reached 1.08944. The push to the upside has gotten technical fuel from the
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Cryptocurrency adoption has been steadily growing in various parts of the world, with Africa emerging as one of the regions showing significant potential for its expansion. In recent years, countries across Africa have witnessed a surge in the interest and usage of digital currencies. This trend can be attributed to several factors, including economic instability,
Cryptocurrencies, such as Bitcoin and Ethereum, have gained significant popularity in recent years. With their decentralized nature and potential for high returns, they have attracted the attention of both legitimate investors and criminals. Unfortunately, as the use of cryptocurrencies has expanded, so have the occurrences of cryptocurrency crimes in financial markets. One of the most
Cryptocurrencies have gained significant traction in recent years as a revolutionary form of digital currency. They operate on decentralized networks, commonly known as blockchains, which ensure secure and transparent transactions. However, due to their disruptive nature and potential for illicit activities, there is a pressing need for regulation in the cryptocurrency space. In this article,
Share: Gold price catches fresh bids on Thursday and is supported by a softer tone around the equity markets. The US Dollar builds on the overnight bounce from a two-month low and should cap gains for XAU/USD. Bets that the Federal Reserve will not hike interest rates further could act as a headwind for the
Once again, the dollar is proving to be a bit more resilient than expected after the rough aftermath to the US CPI data on Tuesday. USD/JPY came close to testing 150.00 yesterday before rebounding back to 151.30 currently while we are seeing the likes of GBP/USD and AUD/USD pull back after nearing key technical breakthroughs.
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