Author: FX

Silver price gains ground as market participants expect Fed’s Powell to deliver a statement about the possible rate cuts. Boston Fed President Susan Collins expressed her support for beginning interest rate cuts next month. The safe-haven Silver may advance further due to the ongoing deadlock in securing a truce between Israel and Hamas. Silver price (XAG/USD) price moves above $29.00 per troy ounce during Friday’s Asian hours. Non-yielding Silver prices gain ground ahead of the US Federal Reserve (Fed) Chair Jerome Powell’s speech at the Jackson Hole Symposium later in the North American session. Powell may deliver a statement about…

Spot gold prices took a breather after making new record highs earlier this week. Is the commodity ready to extend its uptrend after falling to a technical support zone? Today’s 4-hour chart may give us some clues! Gold (XAU/USD) 4-hour Chart by TradingView If you missed yesterday’s market price action, you should know that the U.S. dollar saw buying pressure as some traders priced lower-tier U.S. reports pointing to a not-so-cool labor market. Other traders also took profits in case FOMC Chairman Powell’s speech later today turns out to be more hawkish than analysts are expecting. Spot gold, which turned…

Profit-taking was the name of the game on Thursday as the major assets reversed their intraweek trends ahead of Powell’s keynote speech on Friday. Spot gold and the S&P 500 index continued to trade lower near their record high levels, while U.S. bond yields and the U.S. dollar saw recoveries despite mixed U.S. data releases. Which themes dominated the markets and how did your favorite assets trade? Headlines: Judo Bank Flash Australia manufacturing PMI rose from 47.5 to a three-month high of 48.7 in August; Services PMI jumped from 50.4 to a three-month high of 52.2 au Jibun Bank Flash…

By Andrea Shalal CHICAGO (Reuters) – The most divisive issue facing the Democratic Party, U.S. support for Israel in the war in Gaza, has gone mostly unaddressed during the four-day convention which ends on Thursday, leaving pro-Palestinian delegates upset with presidential candidate Kamala Harris. Harris is expected to call for an urgent end to the war during her Thursday acceptance speech and for the release of Israeli hostages held by Hamas, two sources familiar with her remarks said. She will not address U.S. arms sales to Israel, according to the sources. Muslim delegates and their allies had pushed for a…

The S&P Global’s August PMI reports reflected solid expansions of the U.K.’s private sector activity, with the manufacturing sector jumping to a 26-month high while the services sector rising to a four-month high. The composite index measuring both the manufacturing and services sectors was also under the spotlight as it hit its highest levels since April: Manufacturing PMI rose from 52.1 to 52.5 Services PMI improved from 52.5 to 53.3 Composite PMI jumped from 52.8 to 53.4 According to the report, “rising business activity and resilient demand conditions contributed to a greater uplift in staff hiring, with the rate of…

At its core, the Volume-Weighted Average Price (VWAP) is a technical indicator that takes both price and volume into account when calculating an average price over a specific timeframe. Unlike traditional moving averages that simply average closing prices, VWAP assigns greater weight to price levels with higher trading volume. This makes VWAP a more dynamic and meaningful representation of a security’s average price throughout the trading day. Here’s why volume matters: Imagine a stock closing at $10. If only 100 shares traded at that price, it wouldn’t necessarily reflect strong market sentiment. However, if 10,000 shares exchanged hands at $10,…

The Range and Kolier SuperTrend Forex Trading Strategy integrates two robust methodologies that empower traders to navigate the complexities of the forex market with confidence and precision. At its core, this strategy revolves around understanding price ranges and leveraging the Kolier SuperTrend indicator to identify opportune moments for trading decisions. Price ranges play a pivotal role in this strategy by pinpointing zones on price charts where trading activity is concentrated. These ranges often signify areas of support and resistance, providing traders with crucial insights into market dynamics and sentiment. By recognizing these patterns, traders can anticipate potential price movements and…

Japanese CPI Overall 2.8% y/yexpected 2.7%, prior 2.8%Core CPI (excluding fresh food) 2.7% y/yexpected 2.7%, prior 2.6%Core-core 1.9% y/y, first time under 2% since September 2022expected 1.9%, prior 2.2%excluding fresh food and energy, this is the closest to US core inflationThe Bank of Japan have been very fussy over the type of inflation seen in Japan. Up until now its been due to the weaker yen and higher import costs, which is ‘cost push’ inflation. The Bank of Japan wants to see inflation being dragged higher by rising wages and demand instead. This is ‘demand pull’ inflation and is considered…

New Zealand’s Retail Sales, a measure of the country’s consumer spending, fell 1.2% QoQ in the second quarter (Q2) from the previous reading of a 0.5% increase, according to the official data published by Statistics New Zealand on Friday. The figure came in worse than market expectations of 1.0% decline. Market reaction to New Zealand’s Retail Sales At the time of writing, NZD/USD is trading 0.26% higher on the day at 0.6140. New Zealand Dollar FAQs The New Zealand Dollar (NZD), also known as the Kiwi, is a well-known traded currency among investors. Its value is broadly determined by the health of the…

The GBP/USD has rallied hard the past two weeks, but its upward climb has slowed down just shy of last year’s high of 1.3143. Although the pair has pulled back, the price action suggests very strong bullish sentiment in the GBP/USD pair. However, this optimism may be short-lived, as a less dovish (or even hawkish) tone from Fed Chair Jerome Powell’s upcoming speech could be the spark that ignites a sharp reversal! Currency traders will be holding their breath as JPow prepares to speak at the Jackson Hole Economic Symposium on Friday at 10 a.m. ET.  This highly anticipated event…