Author: FX

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The Greenback extended Monday’s optimism and advanced to two-day highs supported by rising geopolitical concerns ahead of key data releases and a slew of Fed speakers. Here is what you need to know on Wednesday, October 2: The US Dollar Index (DXY) surpassed the key 101.00 barrier amidst increasing safe haven demand in response to geopolitical concerns. The ADP Employment Change takes centre stage seconded by the weekly Mortgage Applications tracked by MBA and the EIA’s report on US crude oil inventories. In addition, the Fed’s Barkin, Bostic, Hammack, Musalem, and Bowman are all due to speak. EUR/USD plummeted to…

The USDCAD pair has moved lower during the North American session as declining US yields and rising oil prices weigh on the pair. Technically, the price has fallen below the 200-hour moving average at 1.3509, while finding support near the rising 100-hour moving average at 1.3494. Trading between these moving averages reflects a neutral technical bias. Yesterday, the price briefly broke above the 200-hour moving average and surpassed the 50% midpoint of September’s trading range at 1.35328 but failed to sustain the momentum, closing lower. Today, the price once again rose above the 50% level but quickly retreated. Buyers had…

Eurozone Manufacturing PMI was revised up in September to 45.0 (from 44.8) after Spain reported a solid gain and German and French data were nudged up marginally from preliminary reports, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Soft EZ inflation bolster October ECB cut bets “Eurozone Manufacturing PMI was revised up in September to 45.0 (from 44.8). But generally soft activity data and weaker than forecast Eurozone CPI today (-0.1% M/M for September) are bolstering expectations that the ECB will cut rates again this month, with 23bps of easing now priced into swaps.” “Wider EZ/US spreads (2Y bond spreads have…

Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-based strategy. This strategy is quite simple, and we have built it using 3 moving averages. Our team has done extensive backtesting on it, and its winning ratio is between 70% to 80%. Recommended Timeframe You can use this strategy on H1, H4, and Daily timeframes. It can also be used on lower timeframes than H1, but we suggest that if you want better results, use it on H1, H4, and Daily timeframes. Trade Details Currently, based on this strategy, we have a trade opportunity on the CADJPY pair on the H1…

Slowing inflation means more reasons to justify October rate cut in my viewRecent weakening in growth outlook also tips the scale in the direction of OctoberBut should closely monitor data and perform comprehensive analysis before decidingThis is the first sign that any ECB policymaker is explicitly making a call for October. It shows how central banks have a pension for giving in to markets at times. And also how quickly the narrative can shift from one meeting to another. 10-year German bond yields are now down 6 bps to 2.07% – its lowest since January. This article was written by…

Emini S&P December barely moving as we trade mostly sideways for 7 sessions. Source link

NZD/USD is having trouble extending its downswing since it hit a potential support zone! Profit-taking after last week’s extended moves may have dragged NZD/USD down from its .6375 highs. It didn’t help that this JPow wasn’t as dovish as the markets had expected, only seeing another 50bps interest rate cut for the rest of the year. Lastly, China is on an extended holiday, which could have limited any bullish demand in the Asian session. But Uncle Sam’s upcoming ISM manufacturing PMI may make or break NZD/USD’s recent downswing. This Article Is For Premium Members Only Become a Premium…

By John Geddie and Tim Kelly TOKYO (Reuters) -Shigeru Ishiba was set to be voted in by parliament as Japan’s next prime minister on Tuesday and unveil his cabinet as he seeks to heal party divisions and prepare for an Oct. 27 snap election. The 67-year-old former defence minister, who won a close-fought contest to lead the ruling Liberal Democratic Party (LDP) last week, is virtually assured of being formerly designated premier due to his party’s majority in parliament. The result of the vote is expected around 1:40 p.m. (0440 GMT) which will then be followed by the Emperor formally…

Dollar traders seem excited to adjust positions ahead of Friday’s NFP release, so leading jobs indicators like the ISM manufacturing PMI could spark volatility early this week. Expectations are for a slight improvement in September, which means that an upside surprise could continue to dampen expectations for aggressive Fed easing. Here’s what I’m watching on the hourly chart of USD/CHF. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link