Author: FX

MOSCOW (Reuters) – Kremlin aide Nikolai Patrushev said on Friday that the U.S.-led military alliance and the West were directly involved in the planning for Ukraine’s attack on Russia’s Kursk region. Patrushev, in an interview with the Izvestia newspaper, said that statements by the United States that it was not involved in the attack were not true. “The operation in the Kursk region was also planned with the participation of NATO and Western special services,” Patrushev was quoted as saying. “The statements by the U.S. leadership that it was not involved in Kyiv’s crimes in the Kursk region are not…

Missed the upside break on EUR/GBP’s daily trend line? I’m seeing an ongoing pullback to this potential support zone, which lines up with the Fibonacci retracement levels. Are euro bulls about to charge soon? EUR/GBP Daily Forex Chart by TradingView As you can see on the pair’s daily time frame above, price has formed lower highs connected by a falling trend line that had been holding since November last year. However, EUR/GBP staged a sharp upside breakout when markets seemed to be in panic mode early last week. The shared currency appeared to enjoy a slice of the safe-haven pie…

Dollar domination was the name of the game after the U.S. printed strong retail sales figures. How did the rest of the currencies and asset classes perform? Let’s discuss the major headlines: Headlines: Australia MI inflation expectations in July up from 4.3% to 4.5% Australian economy added 58.2K jobs in July (20.2K estimate, previous reading upgraded from 50.2K to 52.3K); jobless rate up from 4.1% to 4.2% instead of holding steady as participation rate increased Australia Leading Economic Index (LEI) weakened from 0.3% m/m in May to -0.1% m/m in June Chinese economic data turned out mixed: Industrial production slowed…

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The SuperTrend Plus Indicator is a custom tool available for the widely popular MetaTrader 4 (MT4) platform. It belongs to the category of trend-following indicators, aiming to visually represent the prevailing trend direction and potentially generate buy and sell signals. Here’s a quick breakdown of its key features: Intuitive Visualization: The indicator displays a clear line plotted on your price chart. This line’s position relative to the price bars indicates the perceived trend direction: above the price for uptrends and below for downtrends. Volatility-Adjusted Signals: The SuperTrend Plus Indicator incorporates the Average True Range (ATR) to account for market volatility. This helps…

The Buy Sell and Lucky Reversal strategy in forex trading combines technical analysis with intuition, aiming to predict market reversals effectively. This approach diverges from purely algorithmic methods by incorporating traders’ gut feelings alongside traditional indicators like moving averages and RSI (Relative Strength Index). It’s a strategy that seeks to balance analytical rigor with the unpredictable nature of financial markets, offering traders a dynamic tool to navigate volatility and capitalize on opportunities. At its core, the strategy involves identifying critical support and resistance levels and then leveraging both technical signals and intuitive insights to anticipate when a market trend might…

RBNZ Assistant Governor Karen Silk said in an interview on Friday that the New Zealand central bank is taking a measured approach to rate cuts.  Key quotes Uncertainty remains on how quickly inflation will subside.Bank is taking a measured approach to rate cuts.The behavior of price inflation is crucial for the cash rate path ahead. Market reaction The NZD/USD pair is trading lower by 0.13% on the day to trade at 0.5983, as of writing. RBNZ FAQs The Reserve Bank of New Zealand (RBNZ) is the country’s central bank. Its economic objectives are achieving and maintaining price stability – achieved when…

The U.S. government recently moved over 10,000 bitcoin (BTC) from a government-linked wallet, a transaction worth around $600 million to a wallet associated with Coinbase Prime. This move follows a previous transfer of $2 billion in late July. Currently, the US government holds approximately $12 billion in bitcoin, mainly from law enforcement actions like the Silk Road seizure. The U.S. Marshals Service recently awarded Coinbase a contract to manage large-cap cryptocurrency assets. So this transfer could be for custodial purposes rather than an intent to sell. While it’s unclear what will happen to the bitcoins after the transfer, should the…

Markets:S&P 500 up 1.6%WTI crude oil 98-cents to $77.98US 10-year yields up 10 bps to 3.92%Gold up $8 to $2456AUD leads, JPY lagsIt was all about the economic data today as US retail sales and initial jobless claims underscored a resilient economy that’s not tumbling towards a hard landing. Fed pricing for 50 bps fell to just 25% after the numbers, which were underscored by upbeat comments from Walmart executives following earnings.The initial response was a strong wave of US dollar buying, particularly against the yen as is surged more than 170 pips in a straight line. Elsewhere the dollar…

GBP/USD traded back above 1.2860 after US Retail Sales data beat. Improving economic data releases ease market fears of US recession. UK GDP met expectations, and manufacturing improved more than expected. GBP/USD recovered back into the high side on Thursday after a bullish tilt in UK data prints coupled with better-than-expected US Retail Sales figures helped to improve overall market sentiment and keep the Greenback pinned on the low side. US Retail Sales growth lurched to an 18-month high of 1.0% MoM in July, well above the forecast 0.3% and entirely engulfing the previous month’s -0.2% contraction. Improving economic health…