Author: FX
According to a Reuters survey, oil production in Iraq fell to just under 4 million barrels per day in October, thus meeting the requirements of the OPEC+ agreement without taking the promised compensatory cuts into account. Total OPEC oil production rises “For the first time since the beginning of the year, the survey also showed that production in the nine countries bound by quotas (OPEC-9) was at the agreed level. Total OPEC oil production, by contrast, rose by 190,000 barrels per day because production in Libya normalised again after the outages in the previous two months.” “The situation is similar…
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straightforward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the Flip 55 strategy has identified a trading opportunity on the USD/JPY pair within the H4 timeframe. I’ve shared a trade setup image for your…
By Ariba Shahid KARACHI (Reuters) – Two Chinese nationals were shot at and injured on Tuesday in Pakistan’s commercial hub of Karachi, police and hospital officials said, after a string of attacks that spurred Beijing to demand tougher security for its citizens. Faizan Ali, a senior superintendent of police, said two Chinese nationals had been shot, but gave no further details. A spokesperson for Liaquat National Hospital in the southern port city said it was treating the two, one of whom was in serious condition. It was not immediately clear who was responsible or if militant violence was behind the attack,…
As expected, the Reserve Bank of Australia (RBA) kept its cash rates unchanged at 4.35% in November. RBA recognized that headline inflation has fallen sharply from lower fuel and energy prices, but cautioned that it may rise again as cost-of-living relief unwinds. Underlying inflation, which RBA thinks is more indicative of inflation momentum, also “remains too high.” The central bank expects that it will be “some time yet” (read: 2026) before underlying inflation stays within the midpoint of RBA’s 2% – 3% target. Growth remained subdued in the June quarter and household consumption growth was weaker than expected. On the…
But regardless of the closing time of the polls, different states will have different procedures in counting votes and that could see the results spill over to the next one or two days (or more). But as outlined here, the main focus will be on the key battleground states i.e. swing states once again. So, that is the key focal point for markets as well.This is a good cheat sheet in getting a rough idea on when these key states will report their results (h/t @ BBC):Just remember that this is just a rough guide and estimation of the timings.…
Gold price slides to a one-week low amid some repositioning trades ahead of the US election. Fed rate cut bets, declining US bond yields and subdued USD demand help limit the downside. Middle East woes also offer support to the XAU/USD and contribute to the modest bounce. Gold price (XAU/USD) attracts some dip-buying following an intraday slide to over a one-week low on Tuesday and currently trades around the $2,735 area, nearly unchanged for the day heading into the European session. Safe-haven demand stemming from the closely contested US presidential election and the risk of a further escalation of geopolitical…
New Zealand’s Q3 2024 jobs report is coming up, and there’s buzz about a possible dip in hiring—fueling talk of an RBNZ rate cut! Our Event Guide for New Zealand’s Q3 jobs release suggests that improved business confidence might have boosted hiring and labor costs last quarter. But if the numbers disappoint or show a weaker labor market, EUR/NZD and NZD/USD’s charts could present trading opportunities. 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™…
Nov. 05, 2024 12:36 AM ETFXI, PGJ, EWH, CAF, GXC, TDF, CHIQ, YINN, YANG, CQQQ, MCHI, CXSE, KWEB, ASHR, KBA, CWEB, KUREBy: Manshi Mamtora, CFA IvancoVlad/iStock via Getty Images The Caixin China General Services PMI increased to 52.0 in October 2024, up from September’s one-year low of 50.3 and surpassing market forecasts of 50.5. The Caixin China General Composite PMI rose to 51.9 in October 2024 from 50.3 in Source link
New Zealand is expecting to see a dip in hiring for Q3 2024, but what if the actual figures surprise to the upside? Our Event Guide for the NZ Employment Report reveals that business surveys have reported increased employment intentions for the past three months. Here’s what I’m looking at on NZD/CHF and NZD/CAD in case the jobs numbers beat market estimates. 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…
Can the upcoming quarterly jobs report from New Zealand keep the RBNZ dovish? Expectations are for a dip in hiring for the third quarter of 2024, possibly supporting the case for another interest rate cut. Here are the points you need to know when trading this major catalyst. 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