Author: FX

EUR/GBP declined 0.10% on Tuesday and remains in a range, but bullish bias intact. RSI, flat MACD support a balanced outlook. EUR/GBP should hold above 0.8380 to confirm bullish bias. The EUR/GBP pair remains confined within a recent range and declined by 0.10% on Tuesday to 0.8380. However, the larger time frame bias remains bullish, as suggested by the technical indicators and the pair continues to side-ways trade after last week’s rally. The Relative Strength Index (RSI) is near 50 and declining. This suggests that selling pressure is rising. The Moving Average Convergence Divergence (MACD) is flat in positive territory,…

Prior month $-78.8 billion revised to $-78.9 billiontrade balance $-70.4 billion versus $-70.6 billion estimate.good trade balance -$94.22 pain dollars versus $-102.8 billion last monthservices surplus $24.4 billion versus $24.3 billion last monthDetails:exports +2% versus July’s +0.5%imports -0.9% versus July +2.1%exports $271.76 billion versus $266.48 billion last monthimports $342.1 billion versus $345.4 billion last monthcapital goods imports $83.13 billion versus $83.46 billion last monthChina trade deficit $-27.88 billion versus $-30.12 billion last monthYear-to-date, the goods and services deficit increased $47.1 billion, or 8.9 percent, from the same period in 2023. Exports increased $79.0 billion or 3.9 percent. Imports increased $126.1…

The USD continues to drift as it consolidates last week’s advance, Scotiabank’s Chief FX Strategist Shaun Osborne notes.   USD continues to consolidate “Gains for the JPY and EUR on the session are pressuring the DXY somewhat but the drop in the dollar index still looks more like a pause ahead of renewed gains rather than a reversal. High beta FX is mostly underperforming amid some lumpy moves in Asian stocks and a sharp drop in crude oil (down 2%). The AUD is the main underperformer on the session as markets ponder the outlook for the Chinese economy.” “Chinese markets…

Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the AUD/CHF pair within the H1 timeframe. I’ve shared a trade setup image for your reference. The details of…

Iran Warns Israel of Stronger Retaliation if Attacked Amid Rising TensionsFull Story on PiQ SuiteIran has issued a warning to Israel, stating that any attack on its infrastructure will be met with stronger retaliation. Following a missile strike on Israel last week and the threat of further escalation, tensions in the region are intensifying. Iranian officials highlighted that they are prepared to target key Israeli sites if provoked, raising concerns about the potential for broader conflict. This comes as the U.S. monitors the situation, with President Biden suggesting Israel has not yet decided on its next steps. The heightened tensions…

EUR/USD trades firmer near 1.0985 in Tuesday’s early European session.  ECB policymakers continue to set the stage for an easier policy stance. Traders push back bets on aggressive Fed rate cuts in the November meeting.  The EUR/USD pair extends its recovery to around 1.0985 on Tuesday during the early European trading hours. The major pair edges higher amid the modest weakening in the US Dollar (USD). However, the upside for EUR/USD might be limited as traders expect a smaller interest rate cut from the US Federal Reserve (Fed) in November. French Central Bank Chief Francois Villeroy de Galhau said on Tuesday…

Dollah traders huddle up! USD/CAD’s upswing is hitting a ceiling around a key technical resistance area. Will the pair maintain its range pattern? Or will we see a breakout? USD/CAD 4-hour Forex Chart by TradingView In case you missed it, the U.S. dollar gained a few pips against its counterparts as traders eased up on their Fed rate cut speculations after Friday’s U.S. NFP report and ahead of this week’s FOMC meeting minutes and U.S. CPI and PPI releases. Meanwhile, the Canadian dollar has lost a few pips to its safe haven counterparts while traders worry about Middle East tensions…

(Reuters) – Chinese shares soared to two-year highs on Tuesday as mainland markets reopened from a week-long holiday to a flurry of speculation of more stimulus from Beijing. The blue-chip CSI300 was up 10% in early trade to its highest since mid-2022 and the rose 9.7% and hit its best level since December 2021. China’s state planner announced $28 billion for spending and investment projects on Tuesday and pledged to quicken fiscal support, expressing full confidence in achieving this year’s economic growth and development targets. Before entering the Golden Week holiday, Chinese stocks had already been on a tear, with…

No big data? No problem! Markets started the week on a high after Friday’s NFP report, but it wasn’t long before worries over Middle East tensions, shrinking Fed rate cut chances, and the upcoming U.S. CPI and PPI data weighed on risk assets. Here’s how individual assets performed: Headlines: Japan’s top currency diplomat Atsushi Mimura said they’ll monitor FX moves including speculative trading “with a sense of urgency” Germany factory orders plummeted by 5.8% m/m in August (-1.9% expected, 3.9% previous) U.K. Halifax house price index for September: 0.3% m/m (0.2% expected, 0.3% previous) Hezbollah fired rockets at Israel’s third-largest…

Global Times with the info:China’s total cross-regional flow of people during the weeklong National Day holidays from October 1 to 7 is estimated to be about 2.008 billion trips, with an average daily year-on-year growth of 4.1%, preliminary statistics from the Ministry of Transport show on Tuesday.ps. markets in China are opening:China’s A-share market Shanghai Composite Index up 10.1% Shenzhen Composite Index up 12.7% Tech-heavy Chinext Price Index up 18.44% This article was written by Eamonn Sheridan at www.forexlive.com. Source link