Author: FX

By William Schomberg LONDON (Reuters) – British finance minister Rachel Reeves will seek to shift the world’s sixth-biggest economy, and Prime Minister Keir Starmer’s government, onto a new course next week with big increases in public spending and tax. The Labour Party’s first budget in 14 years will end months of speculation about how much Reeves and Starmer will borrow for infrastructure investment and how hard they will hit taxpayers. Reeves, a former Bank of England economist, has said she will not let public debt balloon, mindful of how former Conservative Prime Minister Liz Truss sent the bond market into…

The market spotlight was on global flash PMI reports, which printed mixed results across major economies. How did asset classes and currencies fare? Check out the latest headlines that influenced price action: Headlines: Australia Judo Bank flash manufacturing PMI dipped from 46.7 to 46.6 in Oct, flash services PMI up from 50.5 to 50.6 Japan’s au Jibun flash manufacturing PMI fell from 49.7 to 49.0 in October (49.9 forecast) Japanese monetary authorities attempt to jawbone currency: Finance Chief Kato says rapid moves are seen in the FX market, gives warning on yen’s slide Deputy Chief Cabinet Secretary Kazuhiko Aoki said…

The flash PMI readings from the eurozone painted a mixed picture of the economy in October, as improvements were seen in Germany but France reported a slowdown in both manufacturing and services sectors. The French flash manufacturing PMI dipped to 44.5 instead of climbing to 44.9 during the month, reflecting a sharper pace of industry contraction, while the services PMI came in at 48.3 instead of the 49.8 consensus. However, previous readings saw notable upgrades, as the manufacturing PMI for September was revised from 44.0 to 44.6 while the services PMI was changed from 48.3 to 49.6 to reflect slower…

1830 GMT / 1430 US Eastern time:Bank of Canada Governor Tiff Macklem will address journalists and answer questions in-person and virtually at the sidelines of the IMF meeting***The Bank of Canada cut by 50bp this week:Bank of Canada is out of touch, “didn’t grasp the challenges facing the Canadian economy”RBC analysts anticipate another 50bp rate cut in December from the Bank of Canada This article was written by Eamonn Sheridan at www.forexlive.com. Source link

The DAT MACD and Last High Low Stop Loss Forex Trading Strategy is a powerful tool designed to elevate trading effectiveness in the competitive Forex market. By combining the MACD (Moving Average Convergence Divergence) indicator with a strategic stop-loss approach, this method offers traders a robust framework for both identifying high-potential trades and managing risk. The MACD, known for its ability to reveal trend changes and momentum shifts, provides critical insights that can significantly enhance decision-making processes. This, combined with an effective stop-loss strategy, creates a comprehensive system that aims to optimize trading performance. What sets the DAT MACD strategy…

The foreign exchange market, also known as forex, is a dynamic and ever-changing landscape. While it presents exciting opportunities for astute traders, navigating its complexities can be daunting. One crucial factor that often gets overlooked is spread, which directly impacts your trading costs. This is where the SpreadWarner MT4 Indicator steps in, empowering you to become a more informed and confident trader. Understanding Spread in Forex Trading Before diving into the SpreadWarner MT4 Indicator, let’s establish a clear understanding of spread in forex trading. In essence, the spread represents the difference between the bid price (the price at which a…

The headline Tokyo Consumer Price Index (CPI) for October fell to the 1.8% YoY rate from 2.2% in the previous month, the Statistics Bureau of Japan showed on Friday. Meanwhile, the Tokyo CPI ex Fresh Food, Energy came in at 1.8% as compared to 1.7% and 2% in September. Additionally, Tokyo CPI ex Fresh Food climbed from 1.6% to 1.8% in October.  Market Reaction The data does little to influence the Japanese Yen (JPY) or provide any meaningful impetus to the USD/JPY pair, which is currently placed just below the 152.00 round-figure mark. Source link

(Reuters) – Volkswagen (ETR:)’s Scout Motors unit on Thursday unveiled its concept electric SUV and truck and said it will offer extended-range versions that include a small gasoline engine. VW is building a $2 billion factory in South Carolina and expects to begin production of the new vehicles in 2027. The full EV versions will offer up to 350 miles of range on a charge while the extended-range version will have 500 miles. “It makes the platform future proof,” Scout CEO Scott Keogh said. Source link

The Bank of Japan is eyeing two elections. Firstly, this weekend in Japan:And secondly, the US election on November 5. MUFG caution that the Bank of Japan may veer away from intervention to support the yen ahead of the US election, reasoning that US dollars spent on propping up the yen would be wasted if Trump wins – the thinking being that a ‘Red Sweep’ (Trump win and Republicans win Congress) would see the US dollar respond with a surge higher. MUFG do stay, however, that if USD strength/yen weakness comes after the US election the Bank of Japan could…

European Central Bank (ECB) Governing Council Member Martins Kazaks noted late Thursday that the case for European interest rates is very likely on the lower side. The Bank of Latvia Governor also hinted that further moves on rates are likely in the ECB’s upcoming meetings. Key highlights Domestic price pressures are somewhat sticky. The path for interest rates is clearly down. The inflation uptick is likely to be less severe than expected. Must avoid doing undue damage to the economy. We shouldn’t hold rates at high levels for too long. The economy is the single biggest concern. It makes sense…