Author: FX
The U.S. dollar pulled back some of its weekly gains after an advance GDP reading disappointed market expectations. Are we looking at an opportunity to buy the Greenback at lower levels? We’re zooming in on the 4-hour chart to check out a range setup: U.S. Dollar Index (DXY) 4-hour Forex Chart by TV In case you missed it, the U.S. dollar had a strong start to the week as rising U.S. bond yields and speculations of sticky high inflation (and higher for longer Fed interest rates) under a Trump presidency pushed the U.S. dollar higher. The Greenback has given up…
Uncle Sam is about to drop its October labor market numbers! Will the results inspire repricings of interest rate cut expectations for the Fed? More importantly, how may the U.S. dollar react to the news? We have the points you need to know if you’re trading the event! 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
Bank of Japan statement, October 31 2024. more to come—Background to this is here:Bank of Japan Policy Meeting Preview – Don’t Hold Your Breath for a HikePreview – Bank of Japan meeting this week – no change to policy expectedJapanese Inflation Data Impact on USD/JPY; BoJ Meeting OutlookStill to come is Bank of Japan Governor Ueda press conference at 0630 GMT, 0230 US Eastern time. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
It was another volatile day in the financial markets, as currencies and asset classes dealt with a handful of top-tier catalysts. Not only did Uncle Sam print the Q3 advance GDP, but Australia also released its quarterly inflation report while big tech companies like Meta and Microsoft released earnings figures. Check out the latest headlines driving price action! Headlines: Australia CPI q/q: 0.2% (0.3% expected, 1.0% previous) annual reading down from 2.7% to 2.1% vs. 2.3% forecast Japanese consumer confidence index dipped from 36.9 to 36.2 in October (36.7 forecast) German preliminary CPI accelerated from 0.0% to 0.2% m/m in…
China’s official Manufacturing Purchasing Managers’ Index (PMI) rose to 50.1 in October, compared to 49.8 in the previous reading. The reading beated the market consensus of 50.0 in the reported month. The NBS Non-Manufacturing PMI improved to 50.2 in October versus September’s 50.0 figure and the estimates of 50.4. Market reaction At the time of writing, the AUD/USD pair is trading around 0.6573, up 0.02% on the day. Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key…
The ZP DayTrading and Fractals Arrows Forex Trading Strategy is a refined approach that aims to capitalize on short-term market movements by blending key technical tools into a cohesive system. ZP DayTrading focuses on precision and timing, which are crucial in the fast-paced world of day trading. By combining the power of fractal arrows visual indicators that highlight potential market turning points this strategy offers traders the opportunity to anticipate price reversals and capitalize on swift price shifts. The synergy between ZP DayTrading principles and fractal arrows helps traders navigate volatile market environments with greater accuracy and confidence. At the…
The foreign exchange market, or forex for short, can feel like a whirlwind of activity. Prices constantly fluctuate, influenced by a complex web of economic factors, news events, and even investor sentiment. For new traders, navigating this dynamic environment can be daunting. But fear not, aspiring forex warriors! Technical analysis tools like the Daily Pivot Targets Indicator for MT4 can equip you with valuable insights, helping you chart a course through the market’s currents. What is the Daily Pivot Targets Indicator? Think of the Daily Pivot Targets Indicator as your personal “support and resistance map” within the MT4 platform. Once…
SEOUL (Reuters) -North Korea fired a suspected long-range ballistic missile towards the sea off its east coast on Thursday, South Korea’s Joint Chiefs of Staff said, a day after Seoul reported the North was making preparations to launch an intercontinental ballistic missile. The launch, at a sharply raised angle, was from an area near the North’s capital, Pyongyang, the Joint Chiefs said in a statement. It did not confirm whether the missile had dropped. Japan’s Coast Guard also said North Korea fired what could be a ballistic missile. More than 20 minutes hour after the reported launch, the projectile believed…
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…
The Greenback’s rally continued to give some signs of potential exhaustion on Wednesday, despite encouraging prints from the job creation in the US private sector and further evidence of a resilient US economy. Here is what you need to know on Thursday, October 31: The US Dollar Index (DXY) receded to three-day lows and pierced the 104.00 support amidst the generalised weakness in US yields across the spectrum. The PCE data will take centre stage, seconded by the weekly Initial Jobless Claims, Personal Income and Spending, the Chicago PMI, Challenger Job Cuts, and the Employment Cost Index. EUR/USD gathered extra…