Author: FX

AUD/USD is having trouble making new 2024 highs. Does this mean that Aussie traders are ready for a bearish reversal? We’re taking a closer look at the 4-hour time frame! AUD/USD 4-hour Forex Chart by TradingView The U.S. dollar has been losing pips to its major counterparts as more traders expect the Fed to cut its interest rates (maybe by as much as 50 bps) in September. Despite that, the Australian dollar has been having trouble making new 2024 highs against the U.S. dollar for the past few days. One possible reason is China’s weaker-than-expected reports, which fuel global growth…

Uncle Sam is not the only major economy dropping labor market reports on Friday! After BOC’s policy announcement, Canada’s jobs data could cause increased volatility among CAD pairs. What are the markets expecting from the event anyway? 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

We’ve got another NFP report comin’ up before the FOMC announces its September rate decision. Can this still influence their policy bias? Read on to find out what market analysts are expecting for the jobs release and how USD pairs could react. 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

I posted earlier on:Reserve Bank (RBA) Governor Michele Bullock speaks soon on “The Costs of High Inflation”It begins at 1.05pm Sydne time, which is 0305 GMT and 2305 US Eastern time.Live link for when it comes around:Speech by Michele Bullock, Governor, at The Anika Foundation This article was written by Eamonn Sheridan at www.forexlive.com. Source link

Market correlations moved out of sync on Wednesday, as major asset classes seemed to respond to their individual catalysts. Forex price action was mostly a mess, too, although the U.S. dollar was generally weaker throughout the day. Here are the latest economic updates and headlines that pushed markets around: Headlines: New Zealand ANZ commodity prices rebounded 2.1% year-on-year in August vs. previous 1.7% decline Australian economy expanded 0.2% q/q as expected in Q2 2024, previous GDP reading upgraded from 0.1% to 0.2% Chinese Caixin services PMI fell from 52.1 to 51.6 in August vs. estimated 51.9 figure Eurozone final services…

On Thursday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.0989, as against the previous day’s fix of 7.1148 and 7.1010 Reuters estimates. Source link

Have you ever felt overwhelmed by the sea of technical indicators available on the MetaTrader 4 (MT4) platform? You’re not alone. New traders often find themselves adrift in a technical analysis ocean, unsure which tools can provide a clear picture of the market. Well, fear not, fellow explorer! Today, we’ll be diving deep into the world of the Color MA MT4 Indicator, a user-friendly tool that can simplify trend identification and potentially enhance your trading experience. Understanding Moving Averages (MAs) & Color Representation There are three main types of moving averages used in the Color MA: Simple Moving Average (SMA): This…

Safety Shot (NASDAQ:SHOT) on Wednesday said its President Jordan Schur has invested in a $3.4M private placement in the company through his family investment group, Core 4 Capital. In addition to gross proceeds of $5M that were raised in April and $1M in June from Core 4, Safety Shot just raised an additional $3.4M from the issuance of 3.37M shares at a price of $0.89 and 3.37M warrants at $0.125 per warrant, With this investment, Core 4 has made a combined investment of $9.4 million from Core 4. Source: Press Release Source link

The Bank of Canada cut rates by 25 basis points to 4.25% from 4.5%. That was the odds on favorite but there was some hope for a full 50 bp cut. On the Global economy, the statement said:Global economy grew by approximately 2.5% in Q2.U.S. growth stronger than expected, driven by consumption, but labor market slowed.Euro-area growth boosted by tourism and services; manufacturing remains weak.China faces weak domestic demand impacting growth.Global financial conditions eased, bond yields declined; Canadian dollar appreciated modestly.Oil prices lower than projected in July.On the Canadian Economy , the statement saidCanada’s Q2 growth at 2.1%, led by…

XAU/USD rises 0.05% to $2493, with prices rebounding after hitting a daily low of $2471. Weaker-than-expected US JOLTS report fuels speculation of a 50 bps Fed rate cut in September. Falling US Treasury yields and a softer US Dollar support Gold, despite volatile profit-taking throughout the session. Gold’s price aimed higher during the North American session after weaker-than-expected jobs data in the United States (US) increased the odds for a 50-basis point (bps) rate cut by the Federal Reserve. Additionally, US Treasury bond yields dropped and undermined the greenback, which is inversely correlated to the golden metal. Therefore, the XAU/USD…