Author: FX
USD/SGD rose another leg higher, as USD strength post-FOMC overwhelmed. Pair was last seen trading at 1.3615, OCBC’s FX analysts Frances Cheung and Christopher Wong note.Near term pullback move lower is possible“Daily momentum turned bullish while RSI rose into overbought conditions. Not ruling out pullback move lower in the near term but dips may still find support. Resistance at 1.3620, 1.3670 levels. Support at 1.3510, 1.3460 (21 DMA).”“S$NEER weakened with our S$NEER index now closer to May-2024 levels. % deviation from model-implied mid has also ease to around 0.64%.” Source link
In case you missed the events from earlier:That leaves the BOE as the final major central bank policy decision for the year. But unlike the Fed and BOJ, this one should be a more uneventful and straightforward one.The BOE is expected to keep the bank rate unchanged this time around and stick with their ongoing communique. That being “a gradual approach to removing policy restraint remains appropriate”.They will continue to emphasise that on the balance of risks, they can’t move too quickly in cutting rates. And that there is still work to be done on the inflation front, although the…
Gold prices rose in Malaysia on Thursday, according to data compiled by FXStreet. The price for Gold stood at 377.71 Malaysian Ringgits (MYR) per gram, up compared with the MYR 375.35 it cost on Wednesday. The price for Gold increased to MYR 4,405.62 per tola from MYR 4,377.96 per tola a day earlier. Unit measure Gold Price in MYR 1 Gram 377.71 10 Grams 3,777.17 Tola 4,405.62 Troy Ounce 11,747.88 FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…
The BOE gang is widely expected to keep its policies unchanged in December. We have the points you need to know if you’re trading the event! Source link
SEOUL (Reuters) – South Korea’s impeached President Yoon Suk Yeol is willing to present his views himself during legal proceedings related to his short-lived declaration of martial law, a lawyer advising Yoon said on Thursday. The lawyer, Seok Dong-hyeon, also told reporters that multiple – seemingly overlapping – investigations involving Yoon should be streamlined. “He (Yoon) has already apologised for surprising and shocking the public, and he remains apologetic for that… but he has a clear and confident position on the issues that are in dispute and must be addressed,” Seok told a briefing, adding Yoon had never even considered…
Investor jitters were in play ahead of the highly-anticipated FOMC decision, which then delivered what many interpreted to be a more hawkish than expected announcement, sparking huge moves across the financial markets. Here are the economic updates you need to know and how asset classes reacted. Headlines: U.K. headline CPI up from 2.3% year-on-year to 2.6% in November as expected; core CPI rose from 3.3% year-on-year to 3.5% (3.6% forecast) U.K. PPI input prices flat in November (0.2% m/m uptick expected, 0.1% previous); PPI output prices rose 0.3% m/m (0.2% expected, -0.1% previous) Euro area final core CPI reading unchanged…
We listen and we don’t judge, but a lot of other traders sure judged the heck out of the Fed’s new policy outlook! As expected, the Fed pulled the trigger on another 25-basis-point rate cut at its December meeting, lowering the federal funds rate to a range of 4.25-4.50%, marking its third straight cut this year. But this time, the tone was different — more cautious, hinting that the pace of future easing could slow down. Target federal funds rate cut to 4.25-4.50% range Overnight reverse repo rate adjusted to 4.25% (30bp cut) Cleveland Fed’s Hammack dissented, preferring no change…
The Choppiness Index and Power Forex Trading Strategy offers a unique approach to navigating market conditions by combining two powerful indicators that serve distinct purposes. The Choppiness Index, designed to measure the level of market consolidation versus trend strength, helps traders determine if the market is choppy or trending. This indicator is essential for traders who want to avoid entering trades during uncertain phases, as it signals when the market may lack clear direction, reducing the risk of false moves and unpredictable volatility. Paired with the Power indicator, this strategy goes beyond simply identifying market choppiness to also measuring directional momentum. The…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
Blue Planet Studio Advanced Micro Devices (NASDAQ:AMD) Ventures and LuminArx Capital Management completed a funding round for Vultr, a private cloud infrastructure company. The financing round gives Vultr a $3.5B valuation. It plans to use the latest equity to expand its artificial intelligence infrastructure and cloud Source link