The Australian dollar is rising, propelled by unexpectedly high inflation figures, painting a bullish picture for the AUD/USD forecast. After this report, investors have lowered their expectations for a Reserve Bank of Australia rate cut. On the other hand, the dollar was weak after PMI data revealed a slowdown in the economy. Investors abandoned hopes for an RBA cut this year after Australia’s Consumer Price Index beat forecasts. In Q1, the CPI increased by 1%, beating estimates for an increase of 0.8%. Notably, the increase came from stubborn service cost pressures. After the report, there was a sharp decline in RBA rate cut expectations...
Essentially you have a market that doesn’t know which direction it wants to go, but at this point in time I think it’s somewhat obvious that we are going to consolidate in the short term. This does make sense considering that there are a lot of concerns out there and we did just fall rather significantly due to the fact that the ECB looks likely to cut rates before the Federal Reserve. Tit-For-Tat Trading?That being said, we now find ourselves in a situation where the EUR/USD market is likely to continue to see a lot of tit-for-tat trading here as the Federal Reserve is likely to cut later as well. So really at this point, I d...
The Wall Street Journal posted an article on bank rule changes entitled A Century-Old Lending Lifeline for Troubled Banks Has a Major Flaw. The Fed Wants to Fix It. The article discusses the Fed’s Discount Window and rule changes to bolster banks in times of need. This bank safety will also conveniently help the Treasury fund the deficit. The Fed’s Discount Window is a direct borrowing line for banks experiencing a cash crunch. It is infrequently used because it signals to banks, depositors, and stockholders that the bank is in trouble. The graph below shows the discount window was used extensively during the financial crisis. Besides tw...
The EUR/USD pair rose to 1.0707 on Wednesday, driven by increased local risk appetite and the belief that the currency was significantly oversold against the US dollar. This resurgence indicates a temporary rebalancing in the currency market.In the US, newly published statistics provide fodder for economic analysis. Sales of new homes in March showed a robust increase of 8.8% month-on-month, climbing to 693,000 from February’s 637,000, surpassing expectations. The year-on-year comparison also reflected strength with an 8.3% increase. Additionally, the weighted average price of a sold house in the US rose to USD 524.8 thousand from USD 488.6...
AT&T has reported its first-quarter results for 2024, showcasing a robust performance powered by its 5G and fiber growth initiatives.AT&T Inc. (T) has reported its first-quarter results for 2024, showcasing a robust performance powered by its 5G and fiber growth initiatives. The telecommunications giant announced revenues of $30.0 billion and an adjusted EPS of $0.55, exceeding the EPS expectations of $0.5323. Operating income stood at $5.8 billion, with net income at $3.8 billion.The company also highlighted a significant year-over-year increase in cash from operating activities, which rose by $0.9 billion to $7.5 billion. Capital e...
Tesla (TSLA) posted disappointing first-quarter 2024 results, missing both earnings and revenue estimates. This marked the third earnings miss in a row for the electric vehicle (EV) behemoth, following 10 straight quarters of beat. The company remained cautious about its vehicle volume growth rate for 2024, which is expected to be noticeably lower than 2023.First-quarter earnings per share (EPS) of 45 cents missed the Zacks Consensus Estimate of 46 cents and also declined from the year-ago figure of 85 cents. Total revenues of $21.3 billion missed the consensus mark of $22.6 billion and declined 9% year over year. Tesla, Inc. Price, Consens...
Image Source: DepositPhotos The risk on vibes are fading into the North American open. We’re seeing a wave of Dollar demand, while US equity futures point south. Looking ahead, we get US durable goods, and the Bank of Canada Summary of Deliberations.Video Length: 00:00:48More By This Author:Momentum Swinging Back To Risk Assets Has Most Of The Downside Been Priced In? Tension Heats Up As Geopolitical Stress Intensifies...
Communications giant T-Mobile US, Inc. (TMUS) is expected to report its first-quarter earnings post-market closing on Thursday (April 25th) and its stock is currently trading in the vicinity of the all-time high of $168.84 it made on March 7th.The consensus among analysts on the Street is that the company would be reporting EPS (normalized) of $1.91 for the quarter, which will be a significant 30% jump from the $1.46 in EPS it reported for the same quarter last year.However, in the past 90 days, all the 9 analysts who cover the stock have lowered their EPS guidance for Q1. This hasn’t affected the stock price much but has definitely impac...
The crypto world is about to witness a game-changer as Bitcoin completed its halving event. This milestone is set to shake things up, making the king of cryptocurrencies even more scarce than ever before. But while all eyes are on Bitcoin, there’s another player that’s quietly making moves in the background – Borroe Finance, the new Hedera competitor that’s got everyone buzzing. The Halving HypeSo, what’s the deal with the Bitcoin halving? In simple terms, it’s when the reward for mining a block of Bitcoin is cut in half. This happens every 210,000 blocks, or roughly every four years. The current reward of 6.25 BTC per block has...
Dogecoin chart analysisDogecoin price climbed to a new weekly high this morning at the 0.16438 level. The picture from the beginning of the week shows that the main price movement occurs in the 0.15800-0.16300 range.This morning, we jumped to a new high, which could influence us to see a slight move to the bullish side. We have EMA200 moving average support, and now we need a bullish consolidation to confirm the bullish option.Potential higher targets are 0.16400 and 0.16500 levels. We need a negative consolidation and pullback to the 0.16000 level for a bearish option. A break below pushes to the bearish side and a visit to the support zon...