The USDCAD pair has recently extended its rebound to reach a fresh 1-month high. However, despite the positive momentum indicators, it has failed to close above the 50-day simple moving average (SMA). This article analyzes the current state of the USDCAD pair and explores potential scenarios for its future movement. Despite its solid recovery from
Brazil’s fiscal deficit has been a cause for concern among market players, as skepticism grows regarding President Luiz Inacio Lula da Silva’s ability to fulfill his promise of eliminating the deficit. Despite increased spending on social measures, the government’s fiscal goals are still in question. This article will analyze the latest report from the federal
Morgan Stanley’s newly appointed CEO, Ted Pick, is confident that the bank will achieve its financial targets of $10 trillion in client assets and a 20% return. With three decades of experience at Morgan Stanley, Pick aims to build on the strategy laid out by his predecessor, James Gorman, while maintaining the bank’s culture. In
The Magnificent 7 tech stocks took the world by storm in 2023, dominating financial markets and shaping the direction of stock indices worldwide. However, as we step into 2024, it’s essential to examine the potential changes that might occur within this esteemed group of companies. This article will delve into what the future may hold
The U.S. Dollar Index (DXY) has been on an upward trajectory as traders react to the better-than-expected Initial Jobless Claims report. According to the report, 187,000 Americans filed for unemployment benefits in a week, lower than the analysts’ estimated figure of 207,000. This positive news has signaled that the job market remains in good shape,
Bitcoin (BTCUSD) has been in a state of uncertainty, struggling to maintain its recent bullish momentum. After reaching a peak of 49,051, the cryptocurrency has faced a significant decline, plummeting to as low as 41,400. This article will examine the current market conditions surrounding Bitcoin and analyze the key support and resistance levels to watch
JPMorgan Chase CEO Jamie Dimon recently expressed his cautious stance on the future of the U.S. economy, citing various financial and geopolitical risks that could impact the nation over the next two years. His remarks, made during a CNBC interview at the World Economic Forum in Davos, Switzerland, shed light on the concerns held by
The EUR/GBP experienced a decline in Wednesday’s session, influenced by two key factors – the dovish stance from the European Central Bank (ECB) and the release of better-than-expected UK inflation data. These factors have had a significant impact on the performance of the Pound and the Euro. UK Inflation Data Surpasses Expectations The latest data
The U.S. Dollar Index has gained momentum in the currency market as traders react to the positive report on Retail Sales. The report indicated that Retail Sales increased by 0.6% month-over-month in December. This news has boosted the confidence of traders in the US economy, leading to an increase in the value of the dollar.
The latest data on U.S. manufacturing reveals that the sector continues to face significant challenges, hindered further by recent strikes and interest rate hikes. Despite slight improvements in some areas, the overall performance of the manufacturing industry remains lackluster. This article explores the struggles and weaknesses experienced by U.S. factories, shedding light on the obstacles
Gold price experienced a significant rally, surpassing the $2,040 resistance level and reaching as high as $2,060 against the US Dollar. However, the bullish trend was short-lived as the price underwent a downside correction. The bears managed to push the price below key support levels including $2,030 and the 50-hour simple moving average. The price
The USD/JPY currency pair experienced a significant rally of 1.03% on Tuesday, following a previous gain of 0.55%. This surge resulted in the pair’s session closing at 147.178, after fluctuating between a low of 145.582 and a high of 147.310. In the upcoming days, the USD/JPY’s performance will heavily depend on several factors such as