Financial News

Archive for Financial News – Page 252

The Analytical Overview of the Main Currency Pairs on 2022.12.14

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.0531
Prev Close: 1.0632
% chg. over the last day: +0.96 %

The US consumer inflation rate declined from 7.7% to 7.1% year-over-year. Core inflation (which excludes food and energy prices) also fell from 6.3% to 6.1%. Germany’s inflation rate fell from 10.4% to 10% year-over-year. On the back of such a sharp decline in inflation, investors renewed their interest in risky assets, which led to a sharp drop in the dollar against major currency pairs.

Trading recommendations

Support levels: 1.0580, 1.0549, 1.0483, 1.0361, 1.0332, 1.0284, 1.0193
Resistance levels: 1.0657, 1.0695

The trend on the EUR/USD currency pair on the hourly time frame is bullish. The price is trading above the moving averages. The MACD indicator has become overbought, but there are no signs of divergence yet. Under such market conditions, it is best to wait for a small correction. It is better to consider the deals to buy from the support level of 1.0580 or 1.0549, but with additional confirmation. Sell deals can be considered from the resistance level of 1.0657 or 1.0695, but it is better with a confirmation in the form of a reverse initiative or a false breakout.

Alternative scenario: if the price breaks down through the support level of 1.0446 and fixes below it, the downtrend will likely resume.

News feed for 2022.12.14:

– Spanish Consumer Price Index (m/m) at 10:00 (GMT+2);
– Eurozone Industrial Production (m/m) at 12:00 (GMT+2);
– US Fed Interest Rate Decision at 21:00 (GMT+2);
– US FOMC Statement at 21:00 (GMT+2);
– US FOMC Press Conference at 21:30 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.2260
Prev Close: 1.2364
% chg. over the last day: +0.84 %

The UK will publish inflation data today, giving clues as to what interest rate hike the Bank of England will choose on Thursday. Analysts forecast a decline in consumer inflation from 11.1% to 10.9% year-over-year. Core inflation is expected to remain unchanged. If the data coincides with the consensus forecast or is better, the Bank of England will likely raise the interest rate by 0.50% tomorrow. If the data is worse than expected and inflation shows no signs of slowing down, the Bank of England might take a more aggressive step of 0.75%.

Trading recommendations

Support levels: 1.2320, 1.2177, 1.2024, 1.1964, 1.1684, 1.1476, 1.1418
Resistance levels: 1.2431, 1.2519

From the technical point of view, the GBP/USD currency pair trend on the hourly time frame is bullish. The price is trading above the moving averages. The MACD indicator is in the positive zone, and buyers’ pressure is still present. Under such market conditions, it is better to look for buy deals from the support level of 1.2320, but with confirmation on intraday time frames. Sell trades are best looked for from the resistance level of 1.2431, but also better with confirmation in the form of a reverse initiative or a false breakout, as the level has already been tested.

Alternative scenario: if the price breaks down of the 1.2100 support level and fixes below it, the downtrend will likely resume.

News feed for 2022.12.14:

– UK Consumer Price Index (m/m) at 09:00 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 137.66
Prev Close: 135.57
% chg. over the last day: -1.54 %

Japanese producer sentiment worsened in the final quarter of 2022 to its lowest level in almost two years. The reasons are price pressures and the prospect of slower global demand. The study found that both large manufacturers and the service sector expect business conditions to deteriorate further. Because of this, large firms expect to increase capital spending by 19.2% in the current fiscal year. The decline in economic indicators signifies that the Bank of Japan will continue to pursue a soft stimulative economy.

Trading recommendations

Support levels: 134.79, 133.53
Resistance levels: 135.90, 137.18, 139.09, 140.75, 143.17, 145.16

From the technical point of view, the medium-term trend on the currency pair USD/JPY is bearish. The MACD indicator is in the negative zone, and there are signs of oversold, but without any signs of divergence. Sell deals may be sought from the resistance level of 139.09, provided that there is a reverse reaction. Buy trades are best considered on intraday time frames from the support level of 137.13, but only with confirmation.

Alternative scenario: If the price fixes above 139.00, the uptrend will likely resume.

News feed for 2022.12.14:

– Japan Tankan Manufacturing (q/q) at 01:50 (GMT+2);
– Japan Non-Tankan Manufacturing (q/q) at 01:50 (GMT+2);
– Japan Industrial Production (m/m) at 06:30 (GMT+2).

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3637
Prev Close: 1.3543
% chg. over the last day: -0.69 %

The oil price surpassed $80 a barrel on Tuesday and recorded its biggest daily gain in more than a month as investors bought up risky assets after US data pointed to a slowdown in inflation. A weaker dollar makes oil cheaper for holders of other currencies, which could boost demand. The Canadian dollar is a commodity currency, so rising oil prices are strengthening the Canadian currency.

Trading recommendations

Support levels: 1.3521, 1.3438, 1.3386, 1.3360, 1.3281, 1.3212
Resistance levels: 1.3601, 1.3643, 1.3690, 1.3776, 1.3855

From the point of view of technical analysis, the trend on the USD/CAD currency pair has changed to bullish. But sellers prevail inside the day. The price is trading below the moving averages, and the MACD indicator has become negative. Buy trades should be considered from the support level of 1.3521, but with additional confirmation. For sell deals, it is best to consider the resistance level of 1.3601 or 1.3643, but with confirmation in the form of a reverse initiative or after a false breakout.

Alternative scenario: if the price breaks down and consolidates below the support level of 1.3386, the downtrend will likely resume.

News feed for 2022.12.14:

– US Crude Oil Reserves (w/w) at 17:30 (GMT+2).

By JustMarkets

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Financial News Forex and Currency News

14 Dec

Inflation failed to steal Christmas from investors

By JustMarkets

The US consumer inflation rate fell from 7.7% to 7.1% year-over-year. Core inflation (which excludes food and energy prices) also fell from 6.3% to 6.1%. Overall, the latest data provided the strongest evidence that the United States inflation is slowing steadily. The markets reacted with an impulse to this data. As the stock market closed Tuesday, the Dow Jones Index (US30) increased by 0.30%, and the S&P 500 Index (US500) jumped by 0.73%. The technology index NASDAQ (US100) was up 1.01% on Tuesday. All three indices closed the day in positive territory.

There is a 79.4% chance that the Fed will raise interest rates by 0.5% today. This move will follow four hikes of three quarters in a row. A half-point hike would put the Fed’s key short-term rate at 4.5%. Markets will also be watching closely for Fed Chairman Jerome Powell’s speech after the Fed meeting to see signs of whether the Central Bank believes inflation has declined enough to continue lowering the pace of interest rate hikes.

But the inflation report has some negative things to say. For example, the cost of housing, which makes up nearly a third of the US consumer price index, continues to rise. But real-time rent and home price indicators are starting to fall. The real estate market remains in recession.

President Joe Biden called the inflation report “good news for families across the country” and noted that lower car and toy prices should benefit holiday shoppers. Nevertheless, Biden acknowledged that inflation may not return to “normal levels” until late next year.

Equity markets in Europe were mostly up yesterday. The German DAX (DE30) gained 1.34%, the French CAC 40 (FR40) added 1.42%, the Spanish IBEX 35 (ES35) jumped by 0.83%, the British FTSE 100 (UK100) closed Tuesday in plus 0.76%.

Unlike the US Federal Reserve, the ECB is still far from completing its monetary tightening cycle. The ECB politicians will meet tomorrow, expecting to raise the interest rate by 0.5%. But with a high probability, the “lowering” of the step from 75 to 50 basis points will be accompanied by more aggressive quantitative tightening (QT). Experts believe that the ECB will phase out reinvestment of its asset purchase program portfolio during 2023.

The ZEW economic sentiment indicator for Germany rose by 13.4 points from 36.7 to 23.3. The German economic sentiment indicator also continues to improve and is currently at 61.4, up 3.1 points from the previous month. Germany’s economic outlook has thus become significantly more optimistic over the past two months.

Gold prices hit a six-month high amid slowing US inflation. Prices of precious metals are inversely correlated with the dollar index and government bond yields, so when the dollar falls, gold and silver prices rise.

The price of oil surpassed $80 a barrel on Tuesday and recorded its biggest daily gain in more than a month as investors bought up risky assets after US data pointed to a slowdown in inflation. Concerns over oil supply disruptions, including the ongoing shutdown of the Keystone pipeline from Canada to the US after a major leak last week, also supported the market.

Asian markets were mostly up yesterday. Japan’s Nikkei 225 (JP225) gained 0.44%, China’s FTSE China A50 (CHA50) was down by 0.02%, Hong Kong’s Hang Seng (HK50) jumped by 0.68% on the day, India’s NIFTY 50 (IND50) added 0.60%, and Australia’s S&P/ASX 200 (AU200) was up 0.31% on the day.

Sentiment among Japan’s big manufacturers deteriorated in the fourth quarter amid rising price pressures, a Bank of Japan survey showed Wednesday, although the lifting of restrictions because of COVID-19 boosted service sector sentiment. The Tankan Large Non-Manufacturers Index jumped to 19 in the fourth quarter, beating expectations of 17 and the previous quarter’s reading of 14. Japan’s manufacturing sector has been hit hard by rising inflation and a weaker yen this year, which has increased manufacturing costs. Although most manufacturers have passed these costs on to customers, this has also had a negative impact on sales.

S&P 500 (F) (US500) 4,019.65 +29.09 (+0.73%)

Dow Jones (US30) 34,108.64 +103.60 (+0.30%)

DAX (DE40) 14,497.89 +191.26 (+1.34%)

FTSE 100 (UK100) 7,502.89 +56.92 (+0.76%)

USD Index 105.02 +0.21 (+0.20%)

Important events for today:

– Australia RBA Gov Lowe Speaks at 00:30 (GMT+2);
– Japan Tankan Manufacturing (q/q) at 01:50 (GMT+2);
– Japan Non-Tankan Manufacturing (q/q) at 01:50 (GMT+2);
– Japan Industrial Production (m/m) at 06:30 (GMT+2);
– UK Consumer Price Index (m/m) at 09:00 (GMT+2);
– Spanish Consumer Price Index (m/m) at 10:00 (GMT+2);
– Eurozone Industrial Production (m/m) at 12:00 (GMT+2);
– US Crude Oil Reserves (w/w) at 17:30 (GMT+2);
– US Fed Interest Rate Decision at 21:00 (GMT+2);
– US FOMC Statement at 21:00 (GMT+2);
– US FOMC Press Conference at 21:30 (GMT+2);
– New Zealand GDP (q/q) at 23:45 (GMT+2).

By JustMarkets

Economics & Fundamentals Financial News

13 Dec

Ichimoku Cloud Analysis 13.12.2022 (EURUSD, XAUUSD, USDCAD)

By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair is testing the signal lines of the Cloud. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0550 is expected, followed by growth to 1.0725. An additional signal confirming the growth will be a bounce off the lower border of the Triangle pattern. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.0385, which will mean further falling to 1.0295. The growth will be confirmed by a breakaway of the upper border of the Triangle and securing above 1.0615.

XAUUSD, “Gold vs US Dollar”

Gold is correcting after a bounce off the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1780 is expected, followed by growth to 1840. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1760, which will mean further falling to 1710.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair is pushing off the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.3595 is expected, followed by growth to 1.3845. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.3475, which will mean further falling to 1.3385.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Financial News Forex and Currency News

13 Dec

The Analytical Overview of the Main Currency Pairs on 2022.12.13

By JustMarkets

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.0528
Prev Close: 1.0537
% chg. over the last day: +0.09 %

The US consumer price data will be released today, and an important interest rate meeting of the Federal Reserve will be held tomorrow. Analysts forecast that the consumer inflation rate will fall from 7.7% to 7.4% year-over-year, and core inflation (which excludes food and energy prices) will fall from 6.3% to 6.1%. Amid the slowdown in rate hikes, investors will turn their attention to riskier assets such as the euro. Also, on Tuesday, Germany will publish inflation data where inflationary pressures are also expected to decrease. Thus, volatility in currency pairs with the US dollar and euro will be extremely high.

Trading recommendations

Support levels: 1.0510, 1.0483, 1.0361, 1.0332, 1.0284, 1.0193
Resistance levels: 1.0583, 1.0610

The trend on the EUR/USD currency pair on the hourly time frame is bullish. But at the moment, the price is forming a wide-volatile flat. The MACD indicator has become inactive. Under such market conditions, moving to lower time frames or waiting for an impulse movement is necessary. Buy trades are best considered from the support level of 1.0483, but with additional confirmation. Sell deals can be considered from the resistance level of 1.0584, but it is better with a confirmation in the form of a reverse initiative or a false breakout, as the level has already been tested.

Alternative scenario: if the price breaks down through the support level of 1.0446 and fixes below it, the downtrend will likely resume.

News feed for 2022.12.13:

– German Consumer Price Index (m/m) at 09:00 (GMT+2);
– German ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
– Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
– US Consumer Price Index (m/m) at 15:30 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.2245
Prev Close: 1.2264
% chg. over the last day: +0.16 %

The Bank of England and the UK Treasury have already acknowledged that the country is in recession. However, technically, there have not been two consecutive quarters of negative growth so far. There has only been one-quarter of negative growth. The latest GDP data showed that the UK economy grew by 0.5% in the last month. Since the last Bank of England meeting, the data have been consistent with the recession estimate but not as bad as expected. This creates a difficult scenario for the Bank of England as inflation is still in double digits, and therefore the Bank of England is likely to raise its rate by 0.5% this Thursday.

Trading recommendations

Support levels: 1.2177, 1.2024, 1.1964, 1.1684, 1.1476, 1.1418
Resistance levels: 1.2304, 1.2381, 1.2431

From the technical point of view, the GBP/USD currency pair trend on the hourly time frame is bullish. The price is trading at the level of the moving averages, but there are signs of liquidity narrowing. The MACD indicator has become inactive. Under such market conditions, buy trades are better to look for from the support level of 1.2177, but with confirmation on intraday time frames. Sell trades are best looked for from the resistance level of 1.2304 but also better with confirmation in the form of a reverse initiative or a false breakout.

Alternative scenario: if the price breaks down from the 1.2100 support level and fixes below it, the downtrend will likely resume.

News feed for 2022.12.13:

– UK Average Earnings Index (m/m) at 09:00 (GMT+2);
– UK Claimant Count Change (m/m) at 09:00 (GMT+2);
– UK Unemployment Rate (m/m) at 09:00 (GMT+2);
– UK BoE Gov Bailey Speaks at 13:00 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 136.55
Prev Close: 137.64
% chg. over the last day: +0.79 %

The situation on the USD/JPY currency pair has not changed. Fundamentally, in the medium term, USD/JPY quotes are inclined to grow as the difference between the interest rates of the US Federal Reserve and the Bank of Japan is increasing. On Wednesday, the Fed will raise the rate by at least another 0.5%, while the Bank of Japan is firmly committed to a soft monetary policy until spring 2023. This divergent policy contributes to the decline of the Japanese currency against the dollar.

Trading recommendations

Support levels: 137.13, 135.33, 133.53
Resistance levels: 139.09, 140.75, 143.17, 145.16

From the technical point of view, the medium-term trend on the currency pair USD/JPY is bearish. The MACD indicator is in the positive zone, and the buyer’s pressure on the intraday time frames is increasing, but there are the first signs of divergence. Sell deals can be looked for from the resistance level of 139.09 if there is a reverse reaction. Buy trades are best considered on intraday time frames from the support level of 137.13, but only with confirmation.

Alternative scenario: If the price fixes above 139.00, the uptrend will likely resume.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3633
Prev Close: 1.3633
% chg. over the last day: 0.00 %

Oil prices jumped by 3% yesterday. Oil was supported by the continued closure of the pipeline that connects Canadian oil to the US Gulf Coast. How long it will take Canada’s TC Energy Corp to clean up and restart its Keystone pipeline is still unknown. The Canadian dollar is a commodity currency, so rising oil prices have strengthened the Canadian dollar. A decline in US inflation today may trigger a further rise in oil prices.

Trading recommendations

Support levels: 1.3621, 1.3518, 1.3438, 1.3386, 1.3360, 1.3281, 1.3212
Resistance levels: 1.3690, 1.3776, 1.3855

From the point of view of technical analysis, the trend on the USD/CAD currency pair has changed to bullish. The price is trading at the level of moving averages, and the MACD indicator has become inactive. Such market conditions significantly complicate the search for good entry points. Buy trades should be considered from the 1.3621 support level, but with additional confirmation. For sell deals, it is better to consider the resistance level of 1.3690 but with confirmation in the form of a reverse initiative or after a false breakout, as the level has already been tested.

Alternative scenario: if the price breaks down and consolidates below the support level of 1.3386, the downtrend will likely resume.

There is no news feed for today.

By JustMarkets

Financial News Forex and Currency News

13 Dec

Oil rises amid stoppage of key gas pipeline. A decline in US inflation could trigger a rally in stock indices

By JustMarkets

The Federal Reserve Bank of New York’s Microeconomic Data Center yesterday released its November 2022 Survey of Consumer Expectations, which shows that inflation expectations have declined in the short, medium, and long term. According to the report, expectations for rising home prices will continue to decline while the labor market will continue to strengthen. Household income growth expectations rose to a new high. Investors renewed their optimistic bets ahead of the release of economic data on inflation and the Federal Reserve’s interest rate decision, which is expected later this week. As the stock market closed Monday, the Dow Jones Index (US30) increased by 1.58%, and the S&P 500 Index (US500) added 1.43%. Technology Index NASDAQ (US100) gained 1.26% on Monday. All three indices closed the day in positive territory.

As a reminder, this is one of the busiest macroeconomic weeks of the year, with the four major central banks holding their final policy meetings of the year and data on US consumer inflation, which could play a major role in determining the outlook for the US interest rate and the dollar.

Equity markets in Europe were mostly down yesterday. Germany’s DAX (DE30) decreased by 0.45%, France’s CAC 40 (FR40) lost 0.41%, Spain’s IBEX 35 (ES35) was down by 0.37%, Britain’s FTSE 100 (UK100) closed Monday at minus 0.41%.

UK GDP for October rose by 0.5%, up from minus 0.6% in September and ahead of the consensus forecast of 0.4%. The Bank of England and the UK Treasury have already acknowledged that the country is in recession, although technically, there have not been two consecutive quarters of negative growth so far. There has only been one-quarter of negative growth. Typically, negative economic growth during a recession leads to lower inflation, often to the point of deflation. This gives central banks plenty of room for easing and the government plenty of room to spend. But Britain’s spending is already well above its means, and its debt is too high. High inflation means that the Bank of England cannot begin easing. In fact, it may have to continue tightening, exacerbating the recession. Current market expectations call for the Bank of England to reach its peak rate of around 4% in 2023, and a rate cut is now planned for 2024.

Oil prices jumped by 3% yesterday. Oil was supported by the continued closure of the pipeline that connects Canadian oil to the US Gulf Coast. How long it will take Canada’s TC Energy Corp to clean up and restart its Keystone pipeline is still unknown. TC Energy closed the pipeline after a leak. More than 14,000 barrels of oil leaked from the pipeline last week, the largest US crude oil spill in nearly a decade. A decline in US inflation today could spark further gains in oil prices.

Asian markets were mostly down yesterday. Japan’s Nikkei 225 (JP225) decreased by 0.21%, China’s FTSE China A50 (CHA50) was down by 0.08%, Hong Kong’s Hang Seng (HK50) fell by 2.20%, India’s NIFTY 50 (IND50) gained 0.01%, and Australia’s S&P/ASX 200 (AU200) ended Monday down by 0.45%.

According to data released Monday by the People’s Bank of China (PBOC), Chinese banks provided 1.21 trillion yuan ($173.48 billion) in new yuan loans, almost double October’s 615.2 billion yuan but below analysts’ expectations. Economists are confident that China’s central bank will focus on supporting the slowing economy. The PBOC has already cut the reserve requirement ratio for banks by 25 bps since December 5, freeing up about 500 billion yuan in long-term liquidity to support the fragile economy due to the Covid outbreak.

In Australia, the NAB business confidence index has become negative for the first time since December 2021. Orders declined from +14 in September to +5 in November, indicating a not-rosy outlook. In fact, the gap between current business conditions and business confidence is now at a record low, indicating heightened concerns about the sustainability of the economy next year. The main reasons for the decline in business confidence are high inflation and rising interest rates, which are putting pressure on consumers.

S&P 500 (F) (US500) 3,990.56 +56.18 (+1.43%)

Dow Jones (US30) 34,005.04 +528.58 (+1.58%)

DAX (DE40) 14,306.63 −64.09 (−0.45%)

FTSE 100 (UK100) 7,476.63 +4.46 (+0.06%)

USD Index 105.02 +0.21 (+0.20%)

Important events for today:

– Australia NAB Business Confidence (m/m) at 02:30 (GMT+2);
– UK Average Earnings Index (m/m) at 09:00 (GMT+2);
– UK Claimant Count Change (m/m) at 09:00 (GMT+2);
– UK Unemployment Rate (m/m) at 09:00 (GMT+2);
– German Consumer Price Index (m/m) at 09:00 (GMT+2);
– German ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
– Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+2);
– UK BoE Gov Bailey Speaks at 13:00 (GMT+2);
– US Consumer Price Index (m/m) at 15:30 (GMT+2).

By JustMarkets

Energy Financial News

12 Dec

Drill Results Show Grade and Growth Possibilities

Source: Geordie Mark (12/12/22)

The first holes from the copper-gold-silver deposit in British Columbia highlighted updip and downdip extension potential of the mineralization there, noted a Haywood Securities report.

NorthWest Copper Corp.’s (NWST:TSX.V; NWCCF:OTCQX) maiden drill results from its Stardust deposit in British Columbia’s Quesnel Trough mining belt showed continuity and potential for extension of mineralization, reported Haywood Securities analyst Dr. Geordie Mark in a Nov. 16 research note. Stardust will be included in the upcoming preliminary economic assessment (PEA), expected by year-end.

The mineralization at Stardust “exhibits high variability in grade and continuity with drilling highlighting updip and downdip extension potential, probably warranting a niche program focused on testing these facets in 2023,” Mark wrote.

Release of those plus more from drill results from the Kwanika deposit is expected in 2022 and may boost NorthWest Copper’s share price.

Haywood recommends Buying shares of NorthWest Copper at the current price of about CA$0.22 per share. In comparison, Haywood’s target price on the Canadian copper explorer is CA$1.10, implying a significant potential return for investors.

The just released Stardust drill results are for eight holes of a 10-hole program testing whether the copper-gold-silver mineralization there is continuous and if there is likely more of it. Data so far are positive for both.

Results

Mark presented the holes with standout results and what each of them indicates.

Hole DDH22-SD-476: 75.95 meters (75.95m) of 0.98% copper equivalent (Cu eq), including 8.45m of 3.14% Cu eq

This hole shows wide mineralization and potential for downdip extension of it.

Hole DDH22-SD-478: 21.1m of 2.41% Cu eq, including 1.55m of 16.64% Cu eq, within 44.2m of 1.31% Cu eq
Hole DDH22-SD-480: 35.55m of 0.91% Cu eq, including 11.2m of 2.91% Cu eq

These holes demonstrate the potential for updip expansion of high-grade mineralization at each intersection.

Hole DDH22-SD-479: 46.05m of 1.4% Cu eq, including 6.4m of 3.05% Cu eq
Hole DDH22-SD-481: 18.9m of 1.14% Cu eq, including 3.85m of 2.98% Cu eq

These holes show a continuity of alteration and mineralization that remains open at depth.

The results of the other two holes drilled at Stardust are pending. Release of those plus more from drill results from the Kwanika deposit is expected in 2022 and may boost NorthWest Copper’s share price. Another impending stock catalyst is the combined Kwanika and Stardust PEA, due out by year-end.

Disclosures:
1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: None. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures For Haywood Capital Markets, NorthWest Copper Corp., November 16, 2022

Analyst Certification: I, Geordie Mark, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.

Important Disclosures: Of the companies included in the report the following Important Disclosures apply: Haywood Securities, Inc. has reviewed lead projects of this company and a portion of the expenses for this travel may have been reimbursed by the issuer.

Financial News Metals

12 Dec

Brent Lost 11% Over Week

By RoboForex Analytical Department

The crude oil market keeps trying to stabilise but fails. Brent barrel started this week by an attempt to reach 76.55 USD.

On the whole, the probability of an equally fast decline looks limited. Nonetheless, investors may react negatively to the oil demand forecasts presented by OPEC and the IEA. However, market participants can use the fact that the Keystone Pipeline that delivers crude oil from Canada to the US is still laying idle.

According to Baker Hughes, the number of active drills in the US has dropped by 2 over a week, reaching 625 units.

On H4, Brent has reached the local goal of the wave of decline at 75.33. Today the market is forming a structure of a wave of growth to 89.40. A link of correction to 82.30 is expected, followed by growth to 101.00. Technically, this scenario is confirmed by the MACD: its signal line is headed strictly upwards to zero. A breakaway and further growth to new highs should follow.

On H1, Brent has formed the first impulse of growth to 77.00. A link of correction to 76.06 is not excluded. Then a new structure of growth is expected to develop to 78.78. Technically, this scenario is confirmed by the Stochastic oscillator. Its signal line is under 80, headed strictly down to 50. A bounce off it and growth back to 80 are expected.

Disclaimer

Any forecasts contained herein are based on the author’s particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.

Energy Financial News

12 Dec

The cryptocurrency market digest (BTC, AXS). Overview for 12.12.2022

By RoboForex.com

The BTC failed to keep balance and on Monday dropped to 16,934 USD.

The second attempt in a row to rise above the intermediate support level of 17,200 USD failed. The market stepped back to the comfortable consolidation area. Now the support levels of 16,600 USD and 16,300 USD turn out working. If they are broken away, a pathway for sellers to 15,500 USD will open.

Nothing new is going on. If the crypto market had a global idea that could balance digital assets out after a decline, the dynamics would be better and prospects would be clearer. However, there is no general idea.

Capitalisation of the crypto market is 840.74 billion USD, the BTC taking up 38.7% and the ETH – 18.1%.

Florida believes in BTC

A US state of Florida is number one among the states in terms of acception of digital currencies and the development of blockchain-basee infrastructure. Firstly, this state accomodates for the largest number of BTC cash machines in the US. According to Invezz information, this is where blockchain startups prefer to open.

AXS became leader of growth over week

The AXS token turned out the most active over a week. It grew by 22%, at certain moments rising by 52%. AXS is a crypto of the Axie Infinity game.

David Schwartz: three reasons for FXT crash

Technical director of Ripple David Schwartz explained the three main reasons for the crash of the FXT exchange. The first one is the fact that Alameda Research used the clients’ money. Another reason is the deliberate mixture of the clients’ deposits and assets for high-risk investing. The third reason is no mechanisms for risk-management.

Article By RoboForex.com

Cryptocurrencies Financial News

12 Dec

Ichimoku Cloud Analysis 12.12.2022 (GBPUSD, USDJPY, NZDUSD)

By RoboForex.com

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which indicates prevalence of an uptrend. A test of the upper border of the Cloud at 1.2145 is expected, followed by growth to 1.2640. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.2020, which will indicate further falling to 1.1925.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has left the descending channel. The pair is going inside the Cloud, which indicates a flat. A test of the lower border of the Cloud is expected at 136.35, followed by growth to 141.85. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 135.25, which will mean further falling to 134.35. The growth will be confirmed by a breakaway of the upper border of the descending channel and securing above 138.05.

NZDUSD, “New Zealand Dollar vs US Dollar”

The currency pair is pushing off the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, indicating an uptrend. A test of the Kijun-Sen line is expected at 0.6355, followed by growth to 0.6605. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 0.6235, which will entail further falling to 0.6245.

Article By RoboForex.com

Financial News Forex and Currency News

12 Dec

The Analytical Overview of the Main Currency Pairs on 2022.12.12

By JustMarkets

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.0555
Prev Close: 1.0532
% chg. over the last day: -0.21 %

This week, the ECB will hold its last monetary policy meeting of the year. Analysts expect the ECB to raise the interest rate by another 50 basis points. But the main focus of investors right now is not on the size of the rate hike but on the final rate level and what the rate difference will be between the US Fed and the ECB. The bigger the difference between the two, the stronger the dollar index against the euro.

Trading recommendations

Support levels: 1.0483, 1.0361, 1.0332, 1.0284, 1.0193
Resistance levels: 1.0584, 1.0610

The trend on the EUR/USD currency pair on the hourly time frame is bullish. But at the moment, the price is trading below the moving averages, and the MACD indicator has become negative. On the intraday time frames, the sellers have taken over the initiative. Under such market conditions, buy trades are best considered from the support level of 1.0483 but with additional confirmation. Sell deals can be considered from the resistance level of 1.0584, but better with a confirmation in the form of a reverse initiative or a false breakout, as the level has already been tested.

Alternative scenario: if the price breaks down through the support level of 1.0446 and fixes below it, the downtrend will likely resume.

There is no news feed for today.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.2231
Prev Close: 1.2266
% chg. over the last day: +0.28 %

The UK government on Friday announced sweeping financial regulatory reforms that, according to Jeremy Hunt, will change the EU laws that have prevented the country from developing normally after Brexit. The package of 30 measures includes easing a rule requiring banks to separate their retail operations from their investment units. The changes announced in the package, dubbed the “Edinburgh Reforms,” also include a review of short-selling rules, stock exchange listings of companies, insurers’ balance sheets, and real estate investment funds. Treasury Secretary Jeremy Hunt said he wants to ensure Britain’s status as “one of the most open, dynamic, and competitive financial services centers in the world.”

Trading recommendations

Support levels: 1.2177, 1.2024, 1.1964, 1.1684, 1.1476, 1.1418
Resistance levels: 1.2279, 1.2304, 1.2381, 1.2431

From the technical point of view, the GBP/USD currency pair trend on the hourly time frame is bullish. The price is trading at the level of the moving averages. The MACD indicator has become inactive. Under such market conditions, it is better to look for buy deals from the support level of 1.2177, but with confirmation on intraday time frames. Sell trades are best looked for from the resistance level of 1.2279 but also better with confirmation in the form of a reverse initiative or a false breakout.

Alternative scenario: if the price breaks down from the 1.2100 support level and fixes below it, the downtrend will likely resume.

News feed for 2022.12.12:

– UK GDP (m/m) at 09:00 (GMT+2);
– UK Industrial Production (m/m) at 09:00 (GMT+2);
– UK Manufacturing Production (m/m) at 09:00 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 136.68
Prev Close: 136.58
% chg. over the last day: -0.07 %

The Japanese Yen will now be completely dependent on the Dollar Index, as the divergent policies of the Japanese central banks and the US Federal Reserve leave no chance for the yen. Since a rate hike from the Fed on Wednesday is largely seen as a foregone conclusion, investors are focused on the Fed’s projections regarding the final rate point. Therefore, fundamentally, USD/JPY quotes are prone to further growth.

Trading recommendations

Support levels: 135.33, 133.53
Resistance levels: 137.42, 139.09, 140.75, 143.17, 145.16

From the technical point of view, the medium-term trend on the currency pair USD/JPY is bearish. The MACD indicator is positive again, and the buyers’ pressure on the intraday time frames is increasing. Sell deals may be looked for from the resistance level of 137.24, provided that there is a reverse reaction. Buy trades are best considered on intraday time frames from the support level of 135.33, but only with confirmation.

Alternative scenario: If the price fixes above 138.00, the uptrend will likely resume.

There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.3590
Prev Close: 1.3645
% chg. over the last day: +0.40 %

The Canadian dollar is a commodity currency. Falling oil prices last week caused the Canadian dollar to fall against other currencies, especially against the US dollar. On the one hand, this is a negative sign. On the other hand, a decrease in oil prices will have a downward effect on inflation, leading to an increase in production figures. Currently, the Bank of Canada keeps the rate higher than the US Federal Reserve and the ECB, so the Canadian dollar has a solid fundamental basis.

Trading recommendations

Support levels: 1.3621, 1.3518, 1.3438, 1.3386, 1.3360, 1.3281, 1.3212
Resistance levels: 1.3690, 1.3776, 1.3855

From the point of view of technical analysis, the trend on the USD/CAD currency pair has changed to bullish. The price is trading above the moving averages, and the MACD indicator is in the positive zone. But the price is in front of the resistance level. Under such market conditions, buy trades should be considered after a slight pullback to the support level of 1.3621, but with additional confirmation. For sell deals, it is best to consider the resistance level of 1.3690 but with a confirmation in the form of a reverse initiative or after a false breakout, as the level has already been tested.

Alternative scenario: if the price breaks down and consolidates below the support level of 1.3386, the downtrend will likely resume.

News feed for 2022.12.12:

– Canada BoC Gov Macklem Speaks at 22:25 (GMT+2).

By JustMarkets

Financial News Forex and Currency News

Risk Disclosure: Foreign Currency trading and trading on margin carries a high level of risk and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should not invest money you cannot afford to lose. Before deciding to invest in the foreign currency exchange market you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts.

All information and opinions on this website are for general informational purposes only and do not constitute investment advice.