Author: FX
The Bank of Japan (BOJ) starts its two-day meeting today! If Japan’s recent economic data are any clue, BOJ members may have less room to maintain their hawkish biases. But our Event Guide for the BOJ October Decision also points out that Gov. Ueda and his team can’t maintain uber-dovish biases either. Instead, we may see weaker growth and inflation projections, which could drag the Japanese yen lower against its major counterparts. 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…
Market correlations appeared to be out of sync in the latest trading sessions, as crude oil had its own thing going while U.S. equities reacted to earnings data. Gold advanced more than 1% for the day while BTC/USD cruised to fresh all-time highs at the $73,000 levels. Which headlines and economic updates are driving price action? Headlines: Japan’s unemployment rate improved from 2.5% to 2.4% (2.5% forecast) in Sept German GfK consumer climate improved from -21.0 to -18.3 in October, September reading revised from -21.2 U.K. BRC shop price index dipped from -0.6% y/y to -0.8% y/y in October; Shop…
The Australian Dollar remains steady after a release of lower-than-expected CPI data on Wednesday. The monthly Australian CPI rose by 2.1% YoY in September, coming in below the expected 2.3% and previous 2.7% readings. The US Dollar may appreciate due to market caution persisting amid uncertainty surrounding the US presidential election and US data. The Australian Dollar (AUD) holds ground against the US Dollar (USD) despite lower-than-expected Australia’s third-quarter Consumer Price Index (CPI) data released on Wednesday. The upside of the AUD could be attributed to the hawkish sentiment surrounding the Reserve Bank of Australia’s (RBA) regarding its policy outlook. The Australian Bureau…
Will the Bank of Japan (BOJ) sit on its hands for yet another meeting? Pressure seems to be coming from the political and economic fronts for policymakers to support growth while preventing excessive FX moves. Here’s what markets are expecting for the upcoming central bank announcement! 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
Ever felt lost in the sea of charts and squiggly lines that dominate the world of trading? You’re not alone. Technical analysis, the art of deciphering price movements to forecast future trends, can be a daunting task for beginners. But fear not, intrepid trader! There’s a powerful tool waiting to be unleashed in your MetaTrader 5 (MT5) arsenal: the Supply and Demand Zones MT5 Indicator. This guide will be your compass, navigating you through the intricacies of this indicator and empowering you to identify crucial turning points in the market. Buckle up, and let’s embark on a journey to understand…
Goldman Sachs Research anticipates a bullish outlook for gold, projecting prices to reach $2,900 per ounce by early 2025, up from a prior forecast of $2,700. This optimism is largely attributed to a surge in gold purchases by central banks, especially in emerging markets. Traditionally, gold prices align closely with interest rate trends—lower rates often boost gold’s appeal as a non-yielding asset. However, significant central bank buying since 2022 has shifted this dynamic, with Goldman estimating that an additional 100 tonnes of physical gold demand can lift prices by around 2.4%.This surge in demand is partly driven by a desire…
By Lizbeth Diaz MEXICO CITY (Reuters) – Mexican Supreme Court Justice Alfredo Gutierrez will resign from the court at the end of August 2025, he said in a letter to Senate leadership on Tuesday, the first of several resignations expected following a controversial new judicial reform. The move further heightens tensions between Mexico’s Supreme Court and the governing ruling bloc, increasing the risk of a constitutional crisis with the two powers at loggerheads over the reform. Mexico is set to choose new Supreme Court justices in an election in June as part of the judiciary’s overhaul. Current justices wishing to…
The US dollar held steady, finishing almost unchanged from Monday’s close. This stability came amid a slowdown in the rally of US yields, ongoing uncertainty ahead of the US election, and anticipation of key US data releases. Here is what you need to know on Wednesday, October 30: The US Dollar Index (DXY) kept its inconclusive price action in the low-104.00 against the backdrop of a widespread cautious trade in the global markets. The usual MBA’s Mortgage Applications is due, seconded by the ADP Employment Change, the advanced Q3 GDP Growth Rate, Pending Home Sales, and the EIA’s weekly report…
If people cared about the environment as much as U.S. debt, we might have hit net zero emissions by now. But why think about the planet when it’s easier to predict the collapse of the world’s biggest economy?Every week or so, someone expresses deep concern about rising U.S. debt. Recently, Robert Kiyosaki, then Elon Musk, and now the CEO of Goldman Sachs, weighed in, urging trouble for the country.To put it in perspective, the U.S. national debt is nearing $36 trillion (about 119% of GDP). It has increased more than 8% in the past year because of spending increases approved…
USD/CAD rallies up to a zone of resistance from historic highs at the top of a long-term range. The pair’s strong rally could begin to wane in the face of the firm resistance. There are no signs yet of a reversal lower, however, and the short and medium-term trends remain “up”. USD/CAD reaches the top of a multi-year range and it is probable the pair will meet stiff technical resistance at these levels. USD/CAD Daily Chart USD/CAD has reached a zone (orange shaded rectangle) in the 1.3800s and 1.3900s composed of resistance from historic highs. These include the August 2024…