Author: FX

Most Read: Fed Sticks to Dovish Policy Roadmap; Setups on Gold, EUR/USD, Nasdaq 100Too often, traders get caught up in the herd mentality, buying when prices are rising rapidly and selling in a panic when the market takes a turn to the downside. Contrarian indicators, like IG client sentiment, offer a different perspective. By gauging whether positioning and the overall mood are excessively bullish or bearish, these tools can hint at potential reversals and turning points. The key is to look for opportunities to zig when everyone else is zagging.Of course, contrarian indicators are most powerful when used as part…

Direxion Daily S&P 500 High Beta Bear 3X Shares declares quarterly distribution of $0.3016 Source link

The Bank of England (BOE) delivered a dose of tough love to the U.K. economy today, choosing to maintain interest rates at a lofty 5.25%. The decision holds the key rate at a 16-year high, sending a clear signal that the central bank continues to worry more about elevated price pressures rather than how elevated interest rates are likely slowing economic activity in the U.K. Read the official statement and minutes here: Bank of England Monetary Policy Summary and minutes of the Monetary Policy Committee meeting GBP Price Action Following the Policy Hold Overlay of GBP vs. Major Currencies Chart…

© Reuters. A logo of Turkey’s Central Bank is pictured at the entrance to its headquarters in Ankara, Turkey February 8, 2024. REUTERS/Cagla Gurdogan/File Photo By Ezgi Erkoyun and Daren Butler ISTANBUL (Reuters) -Turkey’s central bank unexpectedly hiked interest rates by 500 basis points to 50% on Thursday, citing a deteriorating inflation outlook and pledging to tighten even further if it expects the price situation to worsen significantly. The hawkish surprise came 10 days before nationwide local elections and was seen by analysts as a signal that the central bank was independent from any political constraints, and determined to tackle…

EUR/USD News and Analysis Recommended by Richard Snow How to Trade EUR/USD ECB Officials Eye June Meeting for First Rate Cut, SNB Delivers a Surprise CutIn spite of the glaring differences between EU and US growth prospects, ECB officials maintain a cautions approach to the inevitable rate cutting cycle – eying up June as the all important meeting. Wage growth has been a major focus from governing council members in 2024 but it looks like the ECB is running out of reasons to push back on interest rate cuts.Earlier today, the Swiss National Bank delivered a surprise 25 bps cut…

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 Swiss National Bank (SNB) surprised market observers on Thursday by cutting its main interest rate by 25 basis points to 1.50%. This move signals the central bank’s confidence in its success in taming inflation. Link to Swiss National Bank Monetary assessment of 21 March 2024 press release CHF Price Action Following the Rate Cut Overlay of CHF vs. Major Currencies Chart by TradingView A key driver of the decision was the SNB’s revised inflation forecast, which now calls for notably lower consumer-price gains relative to the December forecasts. The SNB predicts inflation will average annual inflation at 1.4% for…

GBP/USD Analysis and ChartsBoE unchanged, votes 8-1 to hold ratesUK 2-Yr Gilt yield falls by 7bps.GBP/USD back below 1.2750.​Most Read: Fed on Hold, 2024 Policy Outlook UnchangedThe BoE left the Bank Rate untouched today but MPC voting left a dovish feeling post-decision. At the last meeting, six out of nine members voted to keep rates unchanged, two voted for a rate hike, and one member voted for a rate cut. Today’s vote, eight unchanged and one cut, suggests that rate cuts are nearing.For all market-moving events and data see the real-time DailyFX Economic CalendarThe probability of a 25 basis point…

The Pound Sterling drops sharply from 1.2800 after the BoE keeps interest rates unchanged at 5.25%.  Eight out of nine BoE’s MPC members have voted for holding interest rates at their current levels. The US Dollar rebounds as the Fed painted an upbeat US economic outlook. The Pound Sterling (GBP) falls sharply in Thursday’s late London session as eight out of nine members led-Monetary Policy Committee (MPC) of the Bank of England (BoE) has voted to keep interest rates unchanged at 5.25% for the fifth time in a row. The BoE was widely expected to announce a steady interest rate decision. However, BoE policymaker Catherine Mann, who…

assalve/iStock via Getty Images The Swiss central bank is the first among developed economies to cut interest rates by 25 bps to 1.5%, marking the first cut in nine years. The monetary tightening was a surprise move, with easing mostly expected to start only in June 2024 for major central banks. This step comes after Swiss inflation dipped to 1.2% in February, the ninth consecutive month that prices have been moving within the SNB’s 0-2% target range, indicative of price stability. The central bank explained, “The easing of monetary policy has been made possible because the fight against inflation over…