Author: FX
Fundamental OverviewThe US Dollar has come back under pressure recently as we got a couple of soft US data. The US ISM Manufacturing PMI disappointed the market as it came lower than expected and the new orders index dropped further into contraction. The US Job Openings yesterday showed some more cooling as the data missed expectations by a big margin. The Treasury yields fell as a consequence and weighed on the greenback. In fact, the recent appreciation of the GBP has been mostly driven by the US Dollar side of the equation. From a monetary policy perspective, there’s now a…
Here is what you need to know on Thursday, September 5: The US Dollar (USD) finds it difficult to stage a rebound after weakening against its major rivals on Wednesday. The US economic docket will feature ADP Employment Change for August, weekly Initial Jobless Claims and August ISM Services PMI data later in the day. Ahead of these releases, Eurostat will publish Retail Sales data for July. On Wednesday, the data published by the US Bureau of Labor Statistics showed that job openings stood at 7.67 million on the last business day of July. This reading came in below the…
AUD/USD is having trouble making new 2024 highs. Does this mean that Aussie traders are ready for a bearish reversal? We’re taking a closer look at the 4-hour time frame! AUD/USD 4-hour Forex Chart by TradingView The U.S. dollar has been losing pips to its major counterparts as more traders expect the Fed to cut its interest rates (maybe by as much as 50 bps) in September. Despite that, the Australian dollar has been having trouble making new 2024 highs against the U.S. dollar for the past few days. One possible reason is China’s weaker-than-expected reports, which fuel global growth…
Uncle Sam is not the only major economy dropping labor market reports on Friday! After BOC’s policy announcement, Canada’s jobs data could cause increased volatility among CAD pairs. What are the markets expecting from the event anyway? 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
We’ve got another NFP report comin’ up before the FOMC announces its September rate decision. Can this still influence their policy bias? Read on to find out what market analysts are expecting for the jobs release and how USD pairs could react. 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
I posted earlier on:Reserve Bank (RBA) Governor Michele Bullock speaks soon on “The Costs of High Inflation”It begins at 1.05pm Sydne time, which is 0305 GMT and 2305 US Eastern time.Live link for when it comes around:Speech by Michele Bullock, Governor, at The Anika Foundation This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Market correlations moved out of sync on Wednesday, as major asset classes seemed to respond to their individual catalysts. Forex price action was mostly a mess, too, although the U.S. dollar was generally weaker throughout the day. Here are the latest economic updates and headlines that pushed markets around: Headlines: New Zealand ANZ commodity prices rebounded 2.1% year-on-year in August vs. previous 1.7% decline Australian economy expanded 0.2% q/q as expected in Q2 2024, previous GDP reading upgraded from 0.1% to 0.2% Chinese Caixin services PMI fell from 52.1 to 51.6 in August vs. estimated 51.9 figure Eurozone final services…
On Thursday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.0989, as against the previous day’s fix of 7.1148 and 7.1010 Reuters estimates. Source link
Have you ever felt overwhelmed by the sea of technical indicators available on the MetaTrader 4 (MT4) platform? You’re not alone. New traders often find themselves adrift in a technical analysis ocean, unsure which tools can provide a clear picture of the market. Well, fear not, fellow explorer! Today, we’ll be diving deep into the world of the Color MA MT4 Indicator, a user-friendly tool that can simplify trend identification and potentially enhance your trading experience. Understanding Moving Averages (MAs) & Color Representation There are three main types of moving averages used in the Color MA: Simple Moving Average (SMA): This…
Safety Shot (NASDAQ:SHOT) on Wednesday said its President Jordan Schur has invested in a $3.4M private placement in the company through his family investment group, Core 4 Capital. In addition to gross proceeds of $5M that were raised in April and $1M in June from Core 4, Safety Shot just raised an additional $3.4M from the issuance of 3.37M shares at a price of $0.89 and 3.37M warrants at $0.125 per warrant, With this investment, Core 4 has made a combined investment of $9.4 million from Core 4. Source: Press Release Source link