The downside breakout in EUR/USD is finally here as markets focus turns to meetings of RBA, BoC and ECB. Dollar is rising broadly, and risk-off sentiment takes Yen and Swiss Franc higher too. Euro is starting to reverse some of last week’s gain while Sterling is staying weak. Commodity currencies are currently mixed for now.
Month: September 2022
Is the U.S. economy showing no signs of a recession or hurtling inescapably towards one? Is it in fact already in one? More than a month after the country recorded two successive quarters of economic contraction, it still depends who you ask. Steve Hanke, professor of applied economics at Johns Hopkins University, believes the U.S.
FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang noted USD/CNH could see its upside momentum alleviated on a breach of the 6.8700 level. Key Quotes 24-hour view: “We expected USD to ‘trade sideways between 6.8900 and 6.9250’ last Friday. Our view was not wrong even though USD traded within a narrower
The Nigerian government has held a preliminary meeting with crypto exchange Binance to potentially establish a special economic zone aimed at supporting crypto and blockchain-related businesses. According to a Sept. 2 post from the Nigeria Export Processing Zones Authority (NEPZA), the authority has held preliminary talks with Binance and technology infrastructure company Talent City to
USDCHF double top The USDCHF is on a 5 day up streak, started last Friday. Today, the verdict is still out. The pair closed at 0.98147. The current price is below that at 0.9812 currently. The streak higher is in jeopardy. The move to the downside was started with the high stalling near the high
Germany’s coalition parties agreed to a €65 billion package to shied consumers and businesses from energy price hikes on Sunday. The package will be paid for via an energy windfall tax and bringing forward a planned 15% global minimum corporate tax. Energy prices are likely to spike further on Monday after Gazprom announced that Nord
Gold edged up on Friday but was headed for a third straight weekly drop, as data pointing at a resilient U.S. economy bolstered the likelihood of Federal Reserve keeping interest rates higher for longer and pinned the dollar near recent peaks. FUNDAMENTALS Spot gold XAU= inched up 0.1% to $1,697.80 per ounce, as of 0055
Nonfarm payrolls rose solidly in August amid an otherwise slowing economy, while the unemployment rate ticked higher as more workers rejoined the labor force, the Bureau of Labor Statistics reported Friday. The economy added 315,000 jobs for the month, just below the Dow Jones estimate for 318,000 and well off the 526,000 in July and
Too often new traders come into the market without getting to know the most fundamental components of foreign exchange and how currencies work. So we decided to make a video that explains the first things traders need to know in an easy and accessible way. Demonstrating them in the Trading 212 app, trading expert David
Today we are testing a 100% Win Rate 5 Minute Forex Scalping Trading Strategy on TradingView. Real Profits Shown and Tested 100x. Enjoy! ✅💰 Best AutoTrader for Daily Profits – https://tinyurl.com/PassiveFXBot 🔴💰 Join our Trading Academy (Forex & Binary) – https://tinyurl.com/FXTradingACADEMY 🟡 FREE DEMOS 🟡 Forex Broker – https://tinyurl.com/MasariFREEdemo Binary Options Broker – http://tiny.cc/Quotex ⚠️
Russell 2000 technical analysis with a trade idea, highlighting how to scale in a trade by casting a net of orders. It is done in a special way, so there is value in watching the entire video, which also includes a review of the recent trade ideas provided last week on ForexLive.com The above video
MUFG Research closed out a previous short on EUR/USD from 1.0290 and is now taking its USD exposure into a long USD/JPY trade from 140.00. They target 146.00 with a stop at 136.50. “We are recommending a new long USD/JPY trade idea… We believe there is room for USD/JPY to extend its advance in the
Most industrial metals lost heavily from their mid-March highs when Russia triggered military operations in Ukraine. Weak demand amid slow global economic growth and a two-decade-high US dollar adversely hit the prices of industrial commodities. In the domestic future’s platform, Aluminium is the top loser, shedding prices by more than 38 per cent. Copper and
The U.S. economy added another 315,000 payrolls in August, with jobs growth slowing overall but still widespread throughout the economy. The economy saw growth in all the key sectors and subsectors in August, led by a gain of 68,000 jobs in professional and business services. “The market will like the broad-based gains in jobs as
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week DC Attorney General sues Michael Saylor and MicroStrategy for tax
The headlines about the pipeline shut down, has led to a kick lower in the EURUSD. The pair has moved back below its 100 and 200 hour moving averages at 1.00039 and 0.99849 respectively. The next target comes against the July 15 low price at 0.99515. A move back below that level would have traders
On Friday, G7 finance ministers agreed to the implement a December price cap on Russian oil and there’s growing chance it leads to a natural gas-style price explosion in oil. The details of how it will work haven’t been sorted out but the philosophy was made clear by Treasury Secretary Janet Yellen in July. “Russia’s
Gold prices nosedived below the key $1700/oz level and ended the week with a decline of about 1.5 per cent marking its third weekly fall. These three weeks of losses have come on the back of four weeks of consecutive gains. The sharp and mixed movement reflects the lack of confidence in the market. Global