Pakistani rupee falls after market maker group removes currency cap By Reuters
© Reuters. FILE PHOTO: A currency trader counts Pakistani Rupee notes as he prepares an exchange of U.S dollars in Islamabad, Pakistan December 11, 2017. REUTERS/Caren Firouz By Ariba Shahid and Asif Shahzad KARACHI, Pakistan (Reuters) – The Pakistani rupee fell by 1.2% on Wednesday after foreign exchange companies removed a cap on the currency, […]
Market Update – January 25 – Asian markets return to hot AUD & NZD Inflation
Many Asian markets back (China & Taiwan remain closed all week) and higher today, NYSE suffered tech meltdown (250+ stocks paused trading on Open) US Stocks mixed following a raft of uninspiring Earnings. #MSFT had its weakest quarterly sales growth in 6-yrs but EPS beat. -0.22% on the day & -1.02% after hours. PMI data […]
Market Spotlight: Microsoft Ramping Up Its AI Investment
Microsoft Announces 'Third Phase Investment In Open AI Shares in US tech giant Microsoft are trading around 1% higher ahead of the US open today. The move comes on the back of yesterday’s announcement that the company will strengthen its partnership with ChatGPT maker Open AI via a new multibillion dollar investment deal. While the […]
Daily Market Outlook, January 24, 2023
Daily Market Outlook, January 24, 2023 Tech Rally on Wall Street Sees Nikkei Back Above 27KThe Nikkei (the only major Asian market open during the lunar holiday week) managed to shake off a third successive monthly decline in manufacturing data to reclaim the pivotal 27k level, as markets were buoyed by another impressive led Tech rally, […]
Market Update – January 24 – Stocks in a Rally!
USDIndex settled at 101.50, Wall Street rallied on the back of tech amid ongoing hopes for a downshift in Fed rate hikes amid a potential moderation in inflation this week. Fears of a recession and the potential for the worst quarter of earnings in seven years were put aside for […]
Done with the Nasdaq bear market for good? Watch this strong technical hint.
In technical analysis, a weekly timeframe refers to the use of weekly candle charts to examine the price activity of a securities or market. A weekly chart depicts a security’s price movement over a one-week period, with each candle indicating one week of trading activity. The candle features a body that shows the week’s starting […]
Market Spotlight: EUR Rallies on Hawkish ECB Comments
Knot Reaffirms Hawkish ECB OutlookEUR has started the week on a strong footing following further hawkish ECB commentary over the weekend. Dutch ECB member Klaas Knot told reporters over the weekend that he believes the ECB will hike rates by a further .5% at both the upcoming February and March meetings. Furthermore, Knot warned that […]
FIBONACCI IN THE FOREX MARKET – Analytics & Forecasts – 24 January 2023
Forex traders utilize Fibonacci retracements to aid in identifying possible key levels of support and resistance. These levels are used as guidelines for traders looking to enter or exit the market along with appropriate risk management techniques. HOW TO CREATE A FIBONACCI RETRACEMENT ON A FOREX PAIR Before delving deeper into practical examples, traders need to have a […]
Dollar lower as market eyes slower Fed rate hikes By Investing.com
© Reuters. By Geoffrey Smith Investing.com — The dollar started the week testing a fresh nine-month low as market participants bet on the trimming the size of its interest rate hikes for a second straight meeting in February. Fed officials are entering the ‘quiet period’ before their policy meeting on February 1st, but a report in […]
Market Update – January 23 – Same story new week!
Chinese New Year celebrations – many centres are closed in Asia. Treasuries sagged to end on a bearish week. USDIndex at 101.30 low as the market continued to price out a 25 bp rate hike on February 1 & BoJ’s latest attempt to keep a lid on yields, along with […]