Minutes of the FOMC’s December 15-16 meeting showed on Wednesday showed that policymakers judged it was appropriate to continue asset purchases at least at the current pace. Market reaction The US Dollar Index largely ignored this statement and was last seen gaining 0.08% on the day at 89.50. Key takeaways as summarized by Reuters “Participants
Month: January 2021
AUD/USD trades to a high of 0.7815, the highest level since March 2018 For bank trade ideas, check out eFX Plus The market continues to stick with the reflation narrative on the session and that is leading to equities climbing higher after a bit of a pullback earlier on. Tech may be bearing the brunt
Major Vietnamese bank HDBank has now become the first bank in the country to issue letters of credit, or L/C, using blockchain technology. According to a Jan. 6 report by local media outlet Việt Nam News, the issuance, document presentation and successful payment of L/C on the blockchain marks a major milestone on HDBank’s stated
Latest data released by Eurostat – 6 January 2021 Prior +0.4% PPI -1.9% vs -2.0% y/y expected Prior -2.0% Producer prices creep up a little further in November last year but that hasn’t quite translated much into anything significant on the inflation front. That said, comparatively to the year before, producer prices are also still
NEW DELHI: Gold and silver futures prices in the domestic market traded with cuts on Wednesday amid uncertainty around elections in Georgia, which will decide how easy it will be for US President elect Joseph Biden to take decisions during his presidency. Polls closed in Georgia’s dual runoff elections that will determine both control of
Dollar’s decline resumed overnight and stays soft in Asian session today. Though, intensity of the selloff remains relatively weak. FOMC minutes is a feature today but that’s unlikely to provide any inspiration for the greenback. Sterling is indeed still the worst performing one for the week for now, as weighed down by fresh lockdowns. As
The Italian government is considering extending its state of emergency over the coronavirus crisis until July 31, 2021, Il Messaggeroa reported, citing sources with the knowledge of the matter. Key takeaways “The emergency, set to expire at the end of January.” “The hypothesis, more than concrete is confirmed in the government, is a renewal for
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There are a few things to know when it comes to reading indicators, especially on the daily time frame. Once you get it figured out, you can read your charts lightning fast and get on with your day. No blog for this video. Will resume Monday.
What would happen if you traded the RSI Indicator completely backward? You never know until you try it. So, that is exactly what we did in this video. The RSI is a momentum indicator. So, that is how we used it. And the results were not only surprising… But, unexpectedly incredible. I hope you enjoy
A break looks inevitable US 10-year yields have pushed to the upside in the past few hours but they’re still within the recent range. In the bigger picture though, the series of higher lows approaching 1%, paints a picture of a market getting ready to bust higher. If Democrats sweep tonight, that move will be
As the crypto bull market continues to gain traction, the price of Aave’s native token, (AAVE), is pushing toward new all-time highs. The growth of the decentralized lending platform appears to be bolstered by improving fundamentals, steady growth in the total value locked on the platform, and the creation of a DeFi based crypto-collectibles token
CNN releases Georgia exit poll done by Edison Research CNN is out with its exit poll from Georgia even though the polls don’t close for another 2 hours. The data is trickling out but the early data is positive for Republicans because it shows an older electorate and a 1 pp increase in registered Republican
Saudi Arabia has offered to make voluntary cuts in its oil output in February in a bid to persuade fellow OPEC+ producers to hold steady amid concerns that new coronavirus lockdowns will hit demand. Two OPEC sources said Saudi Arabia made the offer on Tuesday at a meeting of OPEC+, which combines OPEC producers and
Dollar weakens again in rather quiet markets today. But there is no committed selling so far, as the greenback is staying inside yesterday’s range. European majors also soften, on lockdown concerns, and shrug of solid German economic data. Commodity currencies are stronger in general, even though risk markets are rather sluggish. US futures are pointing
S&P 500 looks to close in the positive territory on Tuesday. S&P 500 Energy Index is up nearly 7% on surging oil prices. The S&P 500 Index (SPX) started the day near Monday’s closing level but edged higher on the back of impressive gains witnessed in energy stocks. At the moment, the SPX is up
Gold held off the dollar advance from yesterday and stays in a good spot above $1,940 in trading today The Georgia runoffs will present the next key risk for gold and risk trades in general, but the resilience from yesterday reaffirms that gold buyers are looking past most of the short-term risks in the market
Announcement by UK finance minister, Rishi Sunak One-off top up grants for retail, hospitality, businesses up to £9,000 per property A £594 million discretionary fund set up to support other impacted businesses New lockdown grants to total £4.6 billion For bank trade ideas, check out eFX Plus This comes after Boris Johnson announced a national
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