Overall, the forex markets are bounded in tight range as consolidative trading continues. There is no clear sign of a sustainable rebound in Dollar, and thus, the most is more likely down than up. Yen is clearly soft but selling hasn’t really take off yet. Commodity currencies are currently having a slight upper hand against
Month: November 2022
USDCHF slides back closer to the YTD low amid the emergence of fresh USD selling. Bets for less aggressive Fed rate hikes, sliding US bond yields weigh on the greenback. A positive risk tone could undermine the safe-haven CHF and help limit the downside. The USDCHF pair meets with a fresh supply following an early
Crude oil runs to a new low in after hours trading The crude oil contract settled the day at $85.87, down -$3.09 from the Friday settled level at $88.96. The selling has continued in after hours trading the price trading to a new low at $85.26. The current price is at $85.33. Looking at the
I posted briefly on Morgan Stanley’s view yesterday: And a few more snippets were added later on Monday : More now: US dollar index will fall to 104 by the end of 2023, dollar is expected to peak as uncertainty around the Fed rate tightening abates, with the Fed forecast to make the final rate
Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Vice Chair Lael Brainard indicated Monday that the central bank could soon slow the pace of its interest rate increases. With
Turkey’s Financial Crimes Investigation Agency is the latest authority to announce investigations into crypto exchange FTX after its collapse and bankruptcy filing on Nov.11. Along with FTX, the agency will look into people and institutions related to the platform — including banks, electronic money institutions and crypto-asset providers — according to an official statement from
LONDON: OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6%, the Organization of the
Dollar continues to trade mildly higher into US session as consolidations extend. Upside momentum in the greenback is very weak so far. But such consolidations could now extend for a further while. Aussie and Loonie are the next firmest. Yen is currently the worst performer, followed by Kiwi and Euro, and Sterling is mixed. Still,
USDCAD is on the brink of a move higher as the US Dollar firms. WTI pressured on Covid cases in China, denting CAD. USDCAD is making tracks on the upside on Monday, partly as oil prices fall and the greenback rallies against a basket of major currencies. The US Dollar is accumulating as investors kept their focus on
The USD fell sharply last week with helped by a weaker than expected CPI data released on Thursday. Last week was also full of FTX news. Both events highlight the need for risk controls as “surprises” can really cause havoc to your trading portfolios. In the weekend forex report I speak to the risk avoidance
US will continue to compete vigorously with China Xi and Biden spoke candidly about a range of issues Biden raised objections to China coercive actions toward Taiwan The US is hoping that they can characterize their relationship as one of competition but China rarely (if ever) uses the same language. Here’s the former Chinese mouthpiece
Everyone would like to trade Forex if they could get consistent profit. But the problem is, when you are working to learn to trade Forex, when to buy and when to sell? Sounds like a simple and straightforward subject right? When should you enter a trade and for what reason? Even more mysterious is when
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NEW DELHI: Gold prices were trading flat on Monday, after a strong rise in the previous session, as the dollar and US bond yields edged higher following comments from a top US central banker who warned that the Fed was not softening its fight against inflation. Gold prices posted their biggest weekly gain since March
Dollar recovers mildly in quiet trading in Asia, digesting some of last week’s losses. Yen and Canadian Dollar are following the greenback, while Swiss Franc leads Europeans lower. But overall, major pairs and crosses are bounded inside Friday’s range, suggesting lack of activity. The economic calendar is light today and trading could remain subdued. But
The index manages to leave behind part of the recent strong decline. US yields kicks in the week on the defensive across the curve. FOMC’s L.Brainard is due to speak later in the NA session. The dollar appears somewhat bid at the beginning of the week and briefly revisits the 107.00 neighbourhood when gauged by
RISK Or lack thereof, led to the demise of the FTX currency exchange last week. That story led to sharply lower digital currencies, including a 92% decline in the FTX token FTT. From an economic perspective, the US CPI proved to be the binary release that many thought it would be. The subsequent wave sent
I posted earlier in the session on the new plan coming to support the nearly-dead property sector in China. This is in addition to China’s 20-point plan to deal with COVID in a more targeted way, not the slash-and-burn lockdown imposed across cities of millions when a handful of cases were found. Links here: The
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