Ofgem announces new price cap - what does it mean for you?

Ofegm has lowered its energy price cap by around £1,000 for April - will this mean lower energy bills are coming?

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GBPJPY Potential for bullish rise to previous swing high

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleGBPJPY Potential for bullish rise to previous swing highTypeBullish BreakoutPreferenceLooking at the H4 chart, my overall bias for GBPJPY is bullish with the current price being above the Ichimoku cloud. To add confluence to this bias, price is along an ascending trendline.Looking for price to rise from the pivot to ride the bullish momentum towards the resistance where the overlap resistance is.It’s also worth noting that there is an intermediate resistance here, where price might struggle to break though.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpjpy-potential-for-bullish-rise-to-previous-swing-high1
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Now is the time to visit Nicaragua

The Central American country has much to tempt tourists

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FOMO Friday: Copper Falls 5%

Copper Comes A CropperAs the last full trading week of February comes to a close, we’ve seen several key developments with the January FOMC minutes, the first comments from incoming BOJ head Ueda and the G20 summit getting underway. Looking across markets, we haven’t been treated to as many big moves as we’ve seen in prior weeks. However, there has still been some noteworthy action and chatting with traders ahead of the weekend it seems the big move capturing most attention is the almost 5% reversal lower in Copper from the week’s highs. So, let’s take a look at what caused the move and, as ever, if you caught it? Well done! If not? There’s always next week!What Caused the Move?Hawkish Fed ExpectationsThe main driver behind the decline in copper from the initial highs of the week has been the uptick in hawkish Fed expectations. On the back of the recent run of hot US data we’ve seen, the market has become increasingly wary of the Fed adopting a more hawkish stance. Having pivoted away from larger hikes twice now, the recent increase in January inflation has spooked markets a little, raising the risks of the Fed stepping back up the pace of its tightening campaign.FOMC MinutesThis week, the FOMC minutes on Wednesday were seen bolstering this hawkish narrative. The minutes showed that several members were in support of a larger hike in January, ahead of getting the news that inflation had spiked again. These details in line with the jump in CPI have seen market pricing for a larger .5% hike in March rising from less than 10% to around 25%.Downside Risks for CopperAs a result of the resultant strength in USD and US yields, commodities prices have been hit sharply with copper in particular suffering. Today the market will receive a further piece of US data with the latest core PCE reading due. Should we see strength in this reading, copper prices are likely to fall further near-term with sharpened focus on the chances of a larger hike in March or a more hawkish outlook from the Fed.Technical ViewsCopperThe second attempt at breaking above the 4.1185 has seen the market failing and falling back below the level. With momentum studies turned bearish here, the focus is on a further push lower while under the level with 3.9410 the next support to watch. A break of this level will open the way for a deeper move towards 3.6745.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/fomo-friday-copper-falls-5
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High energy prices are here to stay

The rising cost of producing energy means high oil and gas prices are here to stay argues Max King

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Market Spotlight: USDCAD Breaking Out Ahead of Core PCE

Yellen Says US Can Avoid Hard LandingUS stocks were seen climbing off the lows yesterday as comments from Treasury Secretary Janet Yellen helped boost sentiment. The former Fed chair was speaking on the side-lines of the G20 summit and told reporters that she believes the US has the potential to avoid a hard landing. Citing the strength of the US labour market and a stronger balance sheet than pre-GFC, Yellen said that the economy is in good shape and noted the declines in inflation as a further encouraging sign.Core PCE Up NextYellen’s comments come just ahead of today’s US core PCE data. The market will be closely watching the release, given that it Is used by the Fed as a primary gauge of inflation, more so than CPI. On the back of the uptick in January inflation, expectations are for a similar lift with analysts projecting a 0.4% from 0.3% monthly increase. Any result at this level or above should keep the current narrative of hawkish Fed expectations intact, driving USD higher.Where To Trade?With Canadian CPI seen undershooting forecasts last month, in stark contrast to the US, the BOC’s current “on hold” guidance looks solid. With divergence opening up once again between the Fed and the BOC, USDCAD looks vulnerable to further upside if today’s data comes in hot.Technical ViewsUSDCADThe rally in USDCAD off the recent lows has seen price breaking out above the bear trend line from last year’s highs and above the 1.3501 level. While above here the focus is on a further push higher towards the 1.3683 level, in line with bullish momentum studies readings. Above 13683, 1.3839 is the bigger target to play for.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-usdcad-breaking-out-ahead-of-core-pce
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Market Spotlight: JPY Falls As Ueda Says Rates to Stay Low

Rates to Stay LowThe Japanese Yen has come under pressure across the European open on Friday following seemingly dovish comments from incoming BOJ governor Ueda. Speaking at the Japanese Diet, Ueda told members of parliament that he felt the BOJ’s ultra-loose monetary policy is still appropriate for now and signalled that he is in no rush to raise rates. There has been a great deal of speculation regarding Ueda’s views on monetary policy and with these comments marking his first formal remarks, traders have gained some important clarity. The initial market reaction has seen the Nikkei rallying while JPY comes off.Uncertainty Ahead for JapanWhile Ueda suggested there was room for adjusting the bank’s yield curve control target, urging the BOJ to be creative with monetary policy, timing was still the key issue to be resolved, according to Ueda. In terms of the broader outlook for the economy, Ueda cited his view that the surge in inflation was a function of elevated import costs, not heightened demand, and warned that there is a great deal of uncertainty in the Japanese economic outlook.Continuity For NowFurther out, Ueda said that while it will likely take some time before trend inflation is sustainably at or above 2%, once there the BOJ consider normalising monetary policy. Notably, Ueda said that this would be achieved through hiking rates on deposits held at the bank by financial institutions rather than selling bonds. The key message for now is one of continuity with Ueda clearly not looking to rock the boat. With this in mind, JPY is likely to remain pressured while Japanese asset prices should remain supported.Technical ViewsUSDJPYThe rally off the lows in USDJPY has seen the market breaking out above the bear channel from last year’s highs and above the 132.91 level. While above here, the focus is on a continuation higher towards the 139.33 level, in line with bullish momentum studies readings. Retail market remains heavily short, encouraging a further push higher.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-jpy-falls-as-ueda-says-rates-to-stay-low
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USDCAD Potential Rise to Previous overlap resistance

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleUSDCAD, H4 | Potential rise to a key overlap resistanceTypeBullish rise Preference:Looking at the H4 chart, my overall bias for USDCAD is bullish as the current price is above the Ichimoku cloud. Looking for a pullback sell entry at 1.35156 where the overlap support is. we are looking to take profit at 1.37020 where the overlap resistance is.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-potential-rise-to-previous-overlap-resistance
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The best cash Isas – February 2023

Cash Isa rates have risen over the last 12 months. Here are the best cash Isas on the market today.

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The cost of care: how to pay for long term care?

The high cost of long-term care ranks is among the top five reasons why those over 55 will choose to continue working after retirement age. Whether you’re planning ahead for yourself or thinking about care for an elderly relative we look at ways you can pay it

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Law Debenture Investment Trust offers something for all investors

The Law Debenture Investment Trust has some key qualities that have helped it vastly outperform the market over the past decade

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Market Spotlight: S&P Testing Channel Lows Ahead of US GDP

US Adv GDP Up NextOn the back of last night’s FOMC minutes, focus today switches US advanced GDP for Q1. On the back of the prior quarter’s 2.9% reading, the market is looking for an unchanged result today. Clearly, with the recent narrative of surprising resilience in the US economy creating room for the Fed to push ahead with tightening, today’s data will be of high importance.Bullish USD/ Bearish Equities ScenarioIf market forecasts are surpassed, this will further bolster the view that the Fed might lean towards a higher rate increase in March, or a more hawkish outlook. With last nights minutes showing that some Fed members backed a larger hike in January, there is a very real risk of such a move given the recent run of US data we’ve seen. In this scenario, USD is likely to be firmly bid while risk assets should recoil near-term.Bearish USD/ Bullish Equities ScenarioOn the other hand, if today’s data undershoots forecasts, this might suggest that the market has become a little carried away recently with the hawkish Fed perspective. In this scenario, USD is likely to weaken and stocks should see better gains as market pricing leans back towards a smaller .25% hike in March.Technical ViewsS&PThe market is at in interesting point here as we test the bull channel lows. A fresh move higher in USD today should see a downside break of the channel where the big focus will then be a test of the 3910 support. This is a key pivot for the index and a break below here will be firmly bearish. However, if this area holds, or we move higher from current levels, focus will be on the 4153.50 level, a break of which will open the way for a move back up towards 4305 next.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-s-and-p-testing-ch
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Market Spotlight: Nvidia Beats Forecasts & Signals Growth Ahead

Nvidia Bounces BackThe big story from US earnings yesterday was the better than forecast results from tech group Nvidia. Rebounding from the prior quarter’s losses, the group posted Q4 EPS of $0.88 vs $0.81 expected on revenues of $6.051 billion vs $6.015 billion expected. Worth noting that year-on-year both EPS and revenues were lower. However, along with quarter-on-quarter uptick, investors appeared buoyed by the group’s more optimistic 2023 outlook when compared with some of the gloomier forecasts we’ve heard across this earnings season.AI Demand GrowthThe big driver behind Nvidia’s quarterly growth was the success in it’s data centre business, fuelled by a rise in chip sales for AI. Nvidia’s position as a leading producer of graphics cards has helped it capitalise on this new growth area.  Looking ahead, the group was optimistic about its chances of continued growth linked to surging demand from AI interest. With businesses of all sizes reportedly feeling an urgency to invest in AI capabilities, Nvidia is well positioned to ride the wave via its chip sales and cloud businesses. For Q1, the company forecast revenues of $6.5 billion, topping Wall Street’s own $6.35 billion forecasts.Technical ViewsNvidiaThe rally off last year’s lows has seen the stock breaking out above the bear trend line from 2022 highs and more recently, above the 193.10 level resistance. This is a key pivot for the stock and while above here the focus is on a further move higher towards the 285.60. Should price slip back below the level, the next support will be the rising trend line off Q3 2022 lows.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/market-spotlight-nvidia-beats-forecasts-and-signals-growth-ahead
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USDCAD Potential for Bullish Rise to Previous swing high

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.TitleUSDCAD, H4 | Potential Bullish Rise to Previous swing high TypeBullish Rise Preference:Looking at the H4 chart, my overall bias for USDCAD is bullish as the current price is above Ichimoku cloud. Looking for a pullback buy entry at 1.35142 where the 38.2% Fibonacci line is, and take profit at 1.37038 where the overlap resistance and 61.8% Fibonacci Line are.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-potential-for-bullish-rise-to-previous-swing-high
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