Author: FX

You’ve been educating traders for over a decade. What is the most prevalent misconception or recurring mistake you’ve seen by traders?The most prevalent misconception we’ve observed at FX Evolution is the belief that trading success hinges solely on finding the “perfect” strategy. While having a solid strategy is essential, many traders overlook the importance of risk management and emotional discipline. The recurring mistake is that traders often get caught up in the excitement of potential profits and forget that consistent, long-term success is more about managing losses and sticking to a well-structured plan.What is the most significant tool or technology…

Initial Jobless Claims rose by 232K vs. the previous week. Continuing Jobless Claims rose by 1.863M. US citizens that applied for unemployment insurance benefits increased by 232K in the week ending August 17 according to the US Department of Labor (DoL) on Thursday. The prints came in a tad above initial consensus (230K) and were higher than the previous weekly gain of 228K (revised from 227K). In addition, Continuing Claims increased by 4K to 1.863M in the week ended August 10. Market reaction The US Dollar Index (DXY) extends its daily recovery from Wednesday’s 2024 lows and retests the 101.40…

CSG Systems International declares $0.30 dividend Source link

The push higher yesterday sees the pair break its high for the year and solidifies a firm break above the 1.3000 mark this week. That now brings into focus the 2023 high as cable goes in search of a potential breakout to its highest since 2022.GBP/USD weekly chartThe music sheet in the chart above is reminiscent of what we’re seeing in EUR/USD here.GBP/USD had previously lingered at levels in between its 100 (red line) and 200-week (blue line) moving averages this year before a pop back above 1.3000 last month. That failed to hold but buyers are finding renewed vigour…

Gold prices fell in Pakistan on Thursday, according to data compiled by FXStreet. The price for Gold stood at 22,446.97 Pakistani Rupees (PKR) per gram, down compared with the PKR 22,526.60 it cost on Wednesday. The price for Gold decreased to PKR 261,825.50 per tola from PKR 262,745.80 per tola a day earlier. Unit measure Gold Price in PKR 1 Gram 22,446.97 10 Grams 224,476.90 Tola 261,825.50 Troy Ounce 698,179.50 FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…

USD/CAD is poppin’ up red candlesticks just below a key technical support area! Are we looking at a breakout in the making? Or are dollar bulls about to stomp in and say, “Not today, bears!”? USD/CAD Daily Forex Chart by TradingView The U.S. dollar is down bad in August, thanks to U.S. data releases and FOMC member speeches supporting expectations of a Fed rate cut by September. However, at least some traders are now taking in weak U.S. economic reports and reading “slower global growth” and reduced risk appetite. The Canadian dollar, in particular, could also have trouble finding fresh…

Just when it seemed that the Greenback was in recovery mode, it chalked up another day in the red thanks to a couple of major catalysts. How did the rest of the markets fare? Here are the headlines and economic updates you need to know: Headlines: Japanese July trade deficit narrowed from 0.82T JPY to 0.76T JPY vs. expected 0.72T JPY shortfall as exports jumped 10.3% y/y while imports rose 16.6% Australia’s MI leading index chalked up another flat reading in July New Zealand credit card spending in July: -3.8% y/y (-3.1% previous) U.K. public sector net borrowing in July:…

The OG crypto’s upswing may be running out of steam around key technical resistance levels! Think BTC/USD is due for a bearish turn? We’re taking our cues from the daily chart: Bitcoin (BTC/USD) Daily Chart by TradingView August has been a pretty good month for bitcoin so far, as BTC/USD jumped from the $50,000 mark to trade closer to the $60,000 levels. Of course, it may have helped BTC/USD that an anti-dollar sentiment took over the markets in anticipation of a Fed rate cut in September. Remember that directional biases and volatility conditions in market price are typically driven by…

The minutes of the FOMC meeting held in July 30-31 indicated that a “vast majority” of members believed “it would likely be appropriate to ease policy at the next meeting.” Although policymakers agreed to keep interest rates unchanged back then, the minutes also revealed that some officials were inclined to start cutting in July rather than waiting for September. “All participants supported maintaining the target range for the federal funds rate at 5¼ to 5½ percent, although several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target…

By Jana Choukeir and Renee Maltezou DUBAI (Reuters) -A Greek-flagged tanker was adrift in the Red Sea on Wednesday after repeated attacks that started a fire on the vessel and caused the ship to lose power, the UK maritime agency said. Iran-aligned Houthi militants have launched attacks on international shipping near Yemen since November in solidarity with Palestinians in the war between Israel and Hamas. They did not immediately claim responsibility for Wednesday’s attacks. Passengers on two small boats attacked the Sounion, hitting it with multiple projectiles about 77 nautical miles (142 km) west of Yemen’s port city of Hodeidah…