Forex News

Artificial intelligence isn't just a technology story, it's a macro story

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Gutenberg attacked by a mob of angry scribes, made with AIThe AI revolution is here. Most of the content written about price action in financial markets so far this year focuses on the current state of the economy and the path of interest rates. That's missing a big part of the picture.What changed everything this…

Goldman cuts probability of US economy entering recession from 35% to 25% in the next year

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Goldman Sachs Goldman Sachs Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment…

European equity close: French stocks lag in broad slide

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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…

RIP Peter Wadkins: The FX market lost one of the best ones

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I heard the sad news that Peter Wadkins died on Saturday after a battle with cancer. He had a 48-year career in the FX market and was one of the all-time greats. Many will remember him for a 12-year stretch as a senior foreign exchange analyst at Thomson Reuters from 2006-2018. He was one of…

US dollar continues to strengthen as risk trades struggle

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The market is pricing in a higher path for the Fed funds rate ahead of tomorrow's speech from Fed Chairman Jerome Powell and that means a higher US dollar.The implied peak is now up to 5.11%, which essentially matched the Fed dot plot of 5.00-5.25% and rates remain at 4.75% through year end.This comes on…

US January employment trends 118.74 vs 116.31 prior

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This is the best reading since October.“The ETI rose for the second consecutive month in January, a reversal of a short-lived declining trend in 2022,” said Selcuk Eren, Senior Economist at The Conference Board. “Despite rapid interest rate hikes—which were expected to reduce labor demand—we haven’t seen widespread layoffs. Indeed, hiring was outsized and broadly…

Canada January Ivey PMI 60.1 vs 33.4 prior

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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…

Major stock indices trading lower in early US trading

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A snapshot of the market 15 minutes into the U.S. open is showing:The low for the S&P index today has reached 4106.37. That is just above the 4100 level that stalled the index both on December 1 and December 13. That ceiling was broken last week on Wednesday with the price extending up to a…

EUR/USD weekly price forecast: analysts see more downside

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© Reuters. By Senad Karaahmetovic is trading modestly lower on Monday after staging a key reversal day candle on Friday following a much stronger-than-expected in the U.S. Not only could the EUR/USD not close near weekly highs, but the failure to secure a green close occurred while the pair was testing a key near-term resistance.…

Rising yields put a bid into USD/JPY

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The yen fell across the board shortly after the start of trading this week on a report that Bank of Japan Deputy governor Masayoshi Amamiya has been approached to take the reigns from Kuroda. The two are similar-minded so the chance of a hawkish shift is erased.The move lower in the yen has extended in…