The price of copper is lower today with the price down -$0.11 to $4.565, but for the month the price rose 14% which represents the largest move since January 2021. The price of the front contract traded to the highest level since April 2022 today with a high at $4.6945, before rotating to the downside
Month: April 2024
AI image What’s the single-best day on the economic calendar to own stocks? It’s Fed day. No day has shown the kind of strong, consistent returns as the day of the Federal Reserve’s interest rate decision. Why is that? I think you can see it playing out today. The S&P 500 is down 50 points,
Mexican Peso falls over 0.41% after Mexico’s Q1 GDP growth underperforms expectations. Stronger-than-expected US Employment Cost Index bolsters US Dollar, diminishing prospect for imminent Fed rate cut. Despite quarterly GDP growth exceeding expectations in Mexico, annual figures fail to meet forecasts, contributing to Peso’s decline. The Mexican Peso tumbles more than 0.41% against the US
The USD is making a break for it vs. a number of the major currencies. As a result, it was time to take a look at a number of the pairs and give an updated technical look at where we stand and what are the risks, targets for each. In the video, I take a
Following Monday’s strengthening of the Japanese yen, several hedge funds have started to dump Japanese equities, signaling the end of popular long positions in the country. Could it be that the direction of the yen is even more critical than that of the economy for the markets? It is hard to say whether it is
EUR/USD 5-minute chart I’m quite surprised by the reaction in the euro to the data in the last few minutes. It surely isn’t the GDP numbers as they were already well telegraphed by the national readings earlier. So, I can only point to the inflation data being the cause for the reaction. It’s a roughly
The Eurozone economy expanded in the three months to March of 2024, rebounding 0.3% from no growth reported in the final quarter of 2023, the preliminary estimate released by Eurostat showed Tuesday. The GDP data beat the market’s expectations for a 0.1% growth. developing story …
In the ever-evolving world of mobile technology, 2024 is set to form the backdrop to a number of exciting developments and advancements within the digital sector. The industry is expected to maintain unprecedented levels of recent growth to meet the increasing demands of consumers and businesses alike. The mobile market is already experiencing a major
USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower. The US Q1 GDP surprisingly missed expectations although 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
USD/CAD trades on a stronger note near 1.3665 on Tuesday. The FOMC is widely expected to hold rates steady in its current 5.25%–5.50% range on Wednesday. The further downside of oil prices weighs on the commodity-linked Loonie. The USD/CAD pair posts modest gains around 1.3665 on Tuesday during the early Asian trading hours. A modest rebound of the US
The EURUSD is trading back higher in what has been an up-and-down trading day. The low in the US session moved down to test the low from late Friday and early Asian trading. Buyers leaned. The subsequent bounce has taken the price back up to and through the 100-hour MA and 38.2% at 1.0709 and
USDJPY flushes and bounces The USDJPY took another run to the downside after the move back above the 38.2% of the April trading range gave way at 156.615. The momentum to the downside increased on the break below the 100-hour MA at 155.923 and next ran toward the 50% of the April range (at 155.505)
USD/JPY 5 mins There’s no official confirmation that Japan’s ministry of finance intervened today but there are certainly tell-tale signs. What to make of the second leg down in the past two hours is less clear, though if they intervened once, why not twice? Like the first time, the playbook has been the same, with
The Mexican Peso rises as sentiment improves due to gains for tech giants and the easing of real-estate regulations in China. Microsoft and Alphabet stock prices soared at the end of last week, lifting the whole market higher. Speculation of the Chinese authorities easing property market regulations helps soothe investor fears, further supporting sentiment. The
Global payment processor Worldpay recently shared the first research of its kind in the industry. Released in collaboration with GlobalData, a leading provider of data analytics, the research titled “Trading Up: The Current Preferences of Traders and Investors” unveils the correlation between payment behaviors, demographics, and trading affinities of 10,000+ traders and investors in Europe,
Key takeaways ● The Fed is expected to leave rates unchanged at their meeting on 30 April – 1 May. ● The BEA report showed that GDP growth slowed to 1.6% in the first quarter, well below expectations. ● Fed’s preferred inflation rose for the third month in a row. ● The released GDP and
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
With iFX EXPO LATAM 2024 in their rearview mirror, fintechs and financial service providers in Latin America return to “business as usual”, refreshed and knowledge-richer than ever. In case you could not make it, here is what you missed. iFX EXPO LATAM 2024, in a nutshell Holding on to the promise of 2+ days of
XRP lost all gains since April 22 and corrected to $0.50, early on Monday, ahead of SEC filing of opposition brief. XRP community debated the ETHgate controversy, how the alleged Ethereum free pass negatively affected the altcoin. Ripple CTO David Schwartz slammed ETH co-founder Charles Hoskinson for separating ETHgate argument from SEC litigation on Ripple.
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
Gold price edges lower to $2,335 in Monday’s early Asian session. The recent US inflation data added to market doubts about near-term US Fed rate cuts. Any escalating Middle East geopolitical tensions might boost safe-haven flows, benefiting precious metals. Gold price (XAU/USD) trades on a softer note near $2,335 on Monday during the early Asian
Ethereum supply is inflating despite relatively high throughput. Average fee has nosedived to $1.12 per transaction, lowest since October. Ether sustained above $3,200 on Sunday, up 4% in the past seven days. Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling
UPCOMING EVENTS: Tuesday: Japan Industrial Production and Retail Sales, Australia Retail Sales, China PMIs, China Caixin Manufacturing PMI, Eurozone CPI, Canada GDP, US ECI, US Consumer Confidence. Wednesday: New Zealand Jobs data, Canada Manufacturing PMI, US ADP, Treasury Refunding Announcement, US ISM Manufacturing PMI, US Job Openings, FOMC Policy Decision. Thursday: Switzerland CPI, Swiss Manufacturing
Crypto analyst Thor Hartvigsen calculated the Fully Diluted Valuation of altcoins and identified tokens that could face selling pressure. Hartvigsen noted that four months into 2024, there is a massive increase in the supply of several altcoins. New tokens expected to be launched this year, alongside unlocks could push supply higher. Thor Hartvigsen, investor at
The weakening yen is unpopular in Japan and pressure is mounting on politicians for action but there are no easy answers. I spoke with BNNBloomberg about the issues: 1) Rate differentials are the driver. You can buy a 10-year Japanese government bond and get 0.9% per year or buy a US 10 and get 4.7%.
Coinbase CLO Paul Grewal said the dispute with the US financial regulator is about 52 million Americans that own crypto. Grewal appreciated Attorney John Deaton for his amicus briefs in support of Coinbase. Blockchain Association filed an amicus brief in support of the crypto exchange in its defense against SEC. Coinbase has seen the Blockchain
Franklin Templeton has launched its Ethereum ETF coded as EZET, as seen on the DTCC website. Franklin Templeton’s Spot Ethereum ETF listing on DTCC does not guarantee S-1 filing approval by the US SEC. ETH price is $3,125 at the time of writing, down nearly 3% from Monday’s close. Ethereum (ETH) holders have long awaited
Tornado Cash developer Roman Storm’s motion to dismiss a criminal indictment received pushback from the US DOJ. The US Department of Justice charged two developers with conspiracy to commit money laundering, operating an unlicensed money transmitter and sanction violation. Authorities allege North Korea’s Lazarus Group and other criminal entities have laundered funds through the crypto
At ForexLive, we work in the news business and I make it our mission to deliver news and analysis that can help people make money in financial markets, or at least understand what’s going on. I’ve always gravitated towards financial news because it’s the one industry where there’s a scorecard. You can still get away
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