Author: FX
Mexican Peso weakens after INEGI reports sharp declines in June Retail Sales with inflation concerns looming. US Dollar strengthens following downward revision of Nonfarm Payrolls by 800K. Fitch warns of rising debt risks for Mexico’s next administration with potential impacts on sovereign rating amid judicial reform controversy. The Mexican Peso depreciated over 1.20% against the US Dollar in early trading on Wednesday as traders digested Mexico’s dismal Retail Sales report and awaited the release of a revision of US employment figures. The USD/MXN trades at 19.21 after bouncing off a daily low of 18.92. Wall Street traded in the green,…
HOUSTON (Reuters) – Shares in U.S. oil producer Occidental Petroleum (NYSE:) fell to $56.17 on Tuesday, below a level that has routinely triggered purchases by its biggest holder, billionaire investor Warren Buffett’s Berkshire Hathaway (NYSE:). Past multimillion-share purchases were so routinely timed to drops below $60 that Wall Street analysts called it “the Berkshire put,” for setting a price floor on the oil firm’s shares. But Occidental has traded below that price all month, the longest period since a swoon in January that ended after Berkshire acquired 4.3 million shares in early February. The lack of purchases may reflect the…
Even though the lack of headlines in the last two days were befitting of a summer lull, there was some decent action in markets. But today, that seems to be absent with broader markets also struggling for any conviction. US futures are flat while bond yields are also little changed on the day. That isn’t giving FX traders much to work with as such.USD/JPY remains caught in a whirlwind of sorts, trading in a roughly 130 pips range today. The pair is up 0.5% to near 146.00 and well off its low of 144.92 from Asia trading earlier.Besides that, other…
The Mexican Peso continues depreciating on Wednesday after Tuesday’s sell-off following weak retail sales data. Carry trade outflows and investor concerns regarding judicial reforms are also weighing on the MXN. Technically, USD/MXN may be starting a new leg higher within its rising channel. The Mexican Peso (MXN) edges lower in its most heavily-traded pairs as the European session gets underway on Wednesday. The Peso fell between 1.50% and 2.00% in its key pairs on Tuesday after the release of Retail Sales data showed shoppers curtailed their spending in June. The weak retail sales data could suggest inflation may be set…
By Jeff Mason, Stephanie Kelly and Jarrett Renshaw CHICAGO (Reuters) -Former U.S. President Barack Obama and his wife Michelle Obama delivered a one-two punch at the Democratic National Convention on Tuesday night, urging Americans to back Kamala Harris in her 11th-hour presidential bid against Republican Donald Trump. America’s first Black president, Obama has thrown his considerable political capital behind Harris as she seeks to make history herself on Nov. 5 as the first woman and first Black and South Asian person to be elected U.S. president. “We do not need four more years of bluster and bumbling and chaos. We…
EUR/GBP can’t seem to make new weekly highs above a technical resistance area. Will this week’s Euro Area PMI releases extend EUR/GBP’s August downtrend? We’re taking cues from the Euro Area PMI Event Guide and the pair’s 1-hour chart: 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
Risk aversion popped its head back in the markets during the latest trading sessions, pulling equity indices back in the red and leading gold to test record highs. Even so, the Greenback was barely able to rake in safe-haven gains, as the U.S currency tumbled to its lowest level in a year. Check out these headlines and economic updates to see what’s going on! Headlines: People’s Bank of China kept 5-year prime loan rate unchanged at 3.85% and 1-year rate on hold at 3.35% as expected RBA monetary policy meeting minutes suggested that interest rates could stay steady for an…
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 Free Scalping and Pivot Alert Forex Trading Strategy has emerged as a compelling method within the forex trading community, offering a systematic approach to capitalizing on rapid market movements. This strategy integrates the precision of scalping with the strategic insights provided by pivot points, making it a valuable tool for traders aiming to navigate the dynamic forex landscape with confidence. Scalping, a technique focused on profiting from small price changes over short timeframes, forms the cornerstone of this strategy. Traders employing scalping techniques execute numerous trades throughout the day, aiming to capture incremental profits swiftly. The addition of pivot…
Ever felt lost in a sea of flickering candles on your trading chart? While candlestick charts offer a wealth of information about price movements, deciphering the meaning behind each candle’s size can be a challenge. Here’s where the Candle Size Info MT5 Indicator steps in as your secret weapon, offering a helping hand to both seasoned traders and curious beginners. Unveiling the Candle Size Info MT5 Indicator Candle Size Indicator: A technical analysis tool designed to simplify your chart reading experience. It directly displays the size of each candle on your chart, typically measured in pips (the smallest price movement for…