The USDCAD has continued it’s run to the upside after an early move above the 200 hour MA, ultimately led to the breaking above the confined range between 1.3344 and 1.3454 (110 pips – see red box in the chart below). USDCAD moves up to a cluster of resistance The momentum higher has now taken
Month: January 2023
Yen bulls are certainly not shying away even after the BOJ policy decision yesterday. In part, I think the constant barrage of commentary (from government officials and those with ties to the central bank) still suggesting a policy shift is enough to fuel the market’s appetite. Meanwhile, the dollar also made a strong comeback after
Prices for wholesale goods and services fell sharply in December, providing another sign that inflation, while still high, is beginning to ease. The producer price index, which measures final demand prices across hundreds of categories, declined 0.5% for the month, the Labor Department reported Wednesday. Economists surveyed by Dow Jones had been looking for a
AUD/USD extends the previous day’s pullback from five-month high, renews weekly low. Confirmation of bearish chart pattern, sustained break of 50-SMA favor sellers. 200-SMA, monthly support line probe bears even as oscillators suggest further downside. AUD/USD remains on the back foot for the second consecutive day after refreshing the multi-month high, down half a percent
Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year
Gold prices inched higher in early Asian trade on Thursday as investors weighed chances of the U.S. Federal Reserve slowing its pace of interest rate hikes. FUNDAMENTALS * Spot gold was up 0.2% at $1,907.18 per ounce, as of 0028 GMT. U.S. gold futures rose 0.1% to $1,909.40. * Few Fed officials signalled on Wednesday
Yen falls broadly after BoJ defied some speculations and kept yield cap unchanged today. The announcement also sent Nikkei sharply higher while shot 10-year JGB yield down. Nevertheless, it’s still a bit early to confirm reversals in Yen crosses. Meanwhile, commodity currencies are trading firmer today. European majors are on the weaker side. In particular,
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The AUDUSD is extending to a new session low and in the process has moved below the 100 hour MA, and an upward sloping trend line. The price is approaching a swing area between 0.6940 and 0.69493. The rising 200 hour moving average is below that level of 0.69349. The price has not traded below
The US treasury is to auction off $12 B of 20 year bonds at the top of the hour. The current yield is around 3.72%. The 6 month averages of the major components shows: Tail -0.5 bps Bid to cover, 2.57X Directs (a measure of domestic demand), 17.2% Indirects (a measure of international demand), 71.9%
Federal Reserve Chairman Jerome Powell has tested positive for Covid-19, the central bank announced Wednesday morning. Powell, 69, is “experiencing mild symptoms,” according to the announcement. “Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news
In this article GS GSBD Follow your favorite stocksCREATE FREE ACCOUNT Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected. Here’s what the investment bank reported: related investing news Citi downgrades Morgan Stanley after earnings beat, says upside
The GBP is looking quite robust on the session. Economists at Scotiabank expect the GBP/USD to retest the mid-December high at 1.2445/50. GBP is developing a strong uptrend “The GBP is developing a strong uptrend on the short-term charts and has been looking in relatively good form technically, at least, since its rebound from sub-1.19
Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold. Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, after hitting a
Sterling and Swiss Franc rise notably today, with help from the buying against Euro. The common currency is weighed down by talks of slower ECB tightening in March, but remains resilient against Dollar. Nevertheless, the Pound and Swissy are outshone by Kiwi for now. Yen is starting to reverse some BoJ triggered selloff in early
Crude oil is up eight days in a row The price of WTI crude oil futures settled above $80 at $80.18 the price last close above that level on December 30. The price has seen additional momentum after the settlement and is currently trading at $80.86. The earlier high for the day reached $81.23 before
The BOJ announced no change to its policy today (but it did up inflation forecasts slightly as expected) and that disappointed yen bulls and bond bears. However, the surprise factor was that they instead double downed on defending their yield curve control policy – instead of those anticipating that perhaps they may further tweak or
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