US President Biden urges congress to pass his proposed billionaire minimum tax
Share: US President Joe Biden is delivering his second State of the Union address to a Joint Session of Congress at the Capitol on Wednesday. Key quotes Committed to work with China where it can advance American interests and benefit the world. If China’s threatens US sovereignty, US will act to protect the […]
ISM Services PMI rebounds to 55.2 in January vs. 50.4 expected
ISM Services PMI in January rose back into the expansion territory. US Dollar Index clings to impressive daily gains above 102.50. The economic activity in the US service sector expanded at a robust pace in January with the ISM Services PMI rising to 55.2 from 49.2 in December. This reading came in better than the […]
AUD/USD losses traction and plummets to two-week lows around 0.6930s after solid US data
AUD/USD falls sharply by more than 100 pips on US economic data. The US Nonfarm Payrolls report almost tripled the market’s expectations for job creation. US ISM Non-Manufacturing PMI is back at expansionary territory. AUD/USD collapsed after US economic data on Friday showed that the labor market remains tight, and it would keep the US […]
GBP/USD collapses to new 4-week lows at 1.2059 after robust US economic data
The Pound Sterling opposes no resistance to upbeat economic data in the United States. US jobs data and services activity showed that the US economy remains solid despite the US Federal Reserve tightening cycle. For the next week, GBP/USD traders are eyeing the UK GDP and US Fed speakers. GBP/USD nosedives and extended its losses […]
GBP/USD collapses to new 4-week lows at 1.2059
GBP/USD nosedives and extended its losses past the 50 and 200-day Exponential Moving Average (EMA) on Friday after a surprisingly strong jobs report from the United States (US) that increased speculations that the Federal Reserve (Fed) could raise rates back above Wednesday’s 25 basis points mark (bps). At the time of writing, the GBP/USD is […]
USD/CAD pares Wednesday’s losses and climbed back above 1.3300 on a buoyant US Dollar
The rate hike by the US Federal Reserve tumbled the USD/CAD to new YTD lows. Falling oil prices and solid US labor market data underpinned the USD/CAD. USD/CAD traders are eyeing Friday’s US Nonfarm Payrolls data alongside ISM Non-Manufacturing PMIs. USD/CAD is recovering some ground after posting minimal losses Wednesday, which sent the pair into […]
Amazon (AMZN stock) earnings approach [Video]
Amazon earnings are due out this week for Q4 2022 and expectations are for an EPS of 0.17 and revenue of $145.77 billion. Since the start of the year, Amazon has been preparing for a coming global turndown by cutting 18,000 jobs which was an increase of the 10,000 reported at the end of last […]
GBP/USD retreats after facing a wall of resistance in 1.2400, slips to 1.2370s
GBP/USD is set to finish Friday with losses of at least 0.20%. United States inflation continues to wane but remains twice elevated of Fed’s target. GBP/USD Price Analysis: To remain sideways ahead of the Fed and BoE monetary policy decisions. GBP/USD snaps two days of gains and tumbled below Thursday’s close of 1.2406, slumping toward […]
EUR/USD holds at around 1.0860s as traders brace for the Fed and ECB’s decisions
The US core PCE, the Fed’s preferred gauge for inflation, edges down, sparking speculations for a Fed pivot. Consumer Sentiment improved, while inflation expectations ticked lower. EUR/USD Price Analysis: Upward biased, but short-term neutral, ahead of Fed and ECB’s decisions. The EUR/USD got rejected from the 1.0900 psychological barrier for two consecutive days and on […]
Microsoft (MSFT Stock) and Tesla (TSLA Stock) earnings and the rise of Citadel [Video]
In this episode, we explain what you need to know from the first of the big tech companies to report their corporate earnings this season, Microsoft. We dive into the numbers and explain what they all mean and why investors are most interested in the performance of their cloud computing division. Elsewhere, Citadel has leaped […]