Author: FX

CAD/CHF is trading near a support area ahead of Canada’s CPI data. Will the report convince traders to extend the pair’s August uptrend? Source link

I’m seeing a simple retracement opportunity on the short-term chart of AUD/CAD ahead of Canada’s CPI release. Is the trend still our friend on this one? Expectations are for the July inflation figures to stay mostly unchanged on a year-over-year basis, possibly convincing folks over at the Bank of Canada (BOC) to remain dovish. 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

Market players seem to have woken up on the right side of the bed this week, as risk-on vibes led to strong gains for equities and higher-yielding currencies on Monday. How did the rest of the asset classes fare? Let’s take a look at the latest headlines and market performance: Headlines: BusinessNZ services index shot up from an upwardly revised 40.7 to 44.6 in July; Employment component edged higher from 45.7 to 46.6 Rightmove: U.K. property sellers’ asking prices were down by 1.5% m/m in August after a 0.4% downtick in July Japan core machinery orders increased by 2.1% m/m…

Reserve Bank of Australia August meeting minutesThe Reserve Bank of Australia considered a case to raise rates but decided that a steady outcome better balanced the risks.The RBA mentioned that the cash rate might have to stay steady for an “extended period.”The RBA members agreed it is unlikely that rates would be cut in the short term.The RBA emphasized the need to be vigilant to upside risks to inflation, and that policy would need to remain restrictive.The RBA noted that an immediate hike in rates could be justified if risks to inflation had increased “materially.”The RBA suggested that keeping rates…

The alluring world of financial markets beckons with the promise of substantial rewards. But navigating its ever-shifting tides can be a daunting task, especially for new traders. Fortunately, a plethora of tools exist to equip you for success, and trend indicators are a cornerstone of any technical analysis toolbox. Today, we delve into the Identify Trend MT4 Indicator, a powerful tool specifically designed for the widely used MetaTrader 4 (MT4) platform. Before diving into the specifics of the Identify Trend MT4 Indicator, let’s establish a solid foundation. Trend trading, a core strategy in technical analysis, thrives on the principle that…

Gold Price trades flat near $2,500 in Tuesday’s early Asian session. Fed’s dovish remarks and rate-cut bets underpin the Gold price.  Easing geopolitical risks in the Middle East might cap the upside for XAU/USD.  Gold Price (XAU/USD) hovers around $2,500 during the early Asian session on Tuesday. The rising expectation of the interest rate cut by the Federal Reserve (Fed) in September and further US dollar weakness are likely to underpin the precious metal in the near term. Fed Chair Jerome Powell’s speech at Jackson Hole will take center stage on Friday. The yellow metal reached a new all-time high of…

The U.S. dollar’s taking a nosedive, causing the EUR/USD to ride high. The dollar weakness has been fueled by dovish comments from Federal Reserve officials, particularly regarding a gradual approach to reducing interest rates. This sentiment is supported by recent U.S. economic data (which was covered in our weekly recap) that suggests inflation is easing, though concerns about economic resilience persist. There are growing expectations that Federal Reserve Chair Jerome Powell will signal a potential interest rate cut at the upcoming Jackson Hole symposium later this week.  While the extent of easing is unknown, comments from Fed officials, including Minneapolis…

gk-6mt/iStock Editorial via Getty Images The U.S. Federal Aviation Administration on Monday said it adopted an airworthiness directive for Boeing’s (NYSE:BA) 787 Dreamliners. The action was in response to an incident in March when a Latam Airlines (LTM) flight suddenly dove and injured more than 50 passengers. The agency said the apparent reason for the dive was an “uncommanded” movement of the captain’s seat that disconnected the auto-pilot. It received a total of five reports of similar problems with the captain and first officer’s seats on 787s. The FAA said airlines should inspect the seat switches on the 787-8, 787-9…

I posted on the PBoC and RBA yesterday.ICYMI …Its rate-setting day from the People’s Bank of China and we will also get the minutes from the most recent Reserve Bank of Australia meeting.The PBoC cut rates in July, surprising some in the market. People’s Bank of China cut repo rates on July 22:On the same day they cut LPRs:Then they followed up three days later with a surprise, shock, cut to their Medium-term Lending Facility (MLF) rate:Today its Loan Prime Rate (LPR) setting day again. No cut is expected, but nothing is off the table.A few minutes after the PBoc…

The continuation of the selling pressure remained unchanged around the Greenback in the context of further improvement in the appetite for the risk-associated universe, all ahead of the release of the FOMC Minutes and the speech by Chief Powell at Jackson Hole. Here is what you need to know on Tuesday, August 20: The USD Index (DXY) collapsed to multi-month lows near 101.80 on the back of the intense upbeat sentiment in the risk complex. On August 20, the Fed’s Bostic and Barr are due to speak, seconded by the API’s weekly report on US crude oil inventories. EUR/USD advanced…