Author: FX

GBP/JPY drifts higher to 191.20 in Tuesday’s early Asian session, up 0.40% on the day.  The improved risk sentiment weighs on the safe-haven currency like the JPY.  The BoE is expected to keep the rate steady at 5.0% at its September meeting. The GBP/JPY cross recovers to near 191.20, snapping the two-day, losing streak during the early European session on Tuesday. The sell-off of the Japanese Yen (JPY) broadly provides some support to the cross. Japan’s National Consumer Price Index (CPI) will be the highlight on Friday.The Bank of Japan (BoJ) forecasted that a robust economic recovery in the Japanese economy…

Aug. 20, 2024 2:10 AM ETFXI, PGJ, EWH, CAF, USD, GXC, TDF, CHIQ, YINN, YANG, CQQQ, MCHI, CXSE, KWEB, ASHR, KBA, CWEB, KUREBy: Meghavi Singh, SA News Editor undefined undefined The People’s Bank of China kept its one- and five-year loan prime rates unchanged at 3.45% and 3.85%, respectively, at its August fixing as widely expected. Both rates stay at record lows following unexpected rate reductions in July. Tuesday’s move also reflected a balancing act by China after Governor Pan Gongsheng recently said that authorities would avoid any “drastic” measures for the economy. The Shanghai Composite fell 0.8% to around…

By Fabian Cambero SANTIAGO (Reuters) – Mining giant BHP’s quick fix to a recent six-day strike at its huge Escondida mine in Chile could set the tone for upcoming negotiations elsewhere, with workers emboldened by high copper prices to push for a larger share of the profits. Members of Escondida’s powerful Union No. 1 signed a sweetened deal on Sunday after walking off the job a week ago when contract talks collapsed, demanding better pay and benefits at the world’s biggest copper mine.  With a preliminary deal in hand already on Friday, a union lawyer had termed the agreement its…

CAD/CHF is trading near a support area ahead of Canada’s CPI data. Will the report convince traders to extend the pair’s August uptrend? Source link

I’m seeing a simple retracement opportunity on the short-term chart of AUD/CAD ahead of Canada’s CPI release. Is the trend still our friend on this one? Expectations are for the July inflation figures to stay mostly unchanged on a year-over-year basis, possibly convincing folks over at the Bank of Canada (BOC) to remain dovish. 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

Market players seem to have woken up on the right side of the bed this week, as risk-on vibes led to strong gains for equities and higher-yielding currencies on Monday. How did the rest of the asset classes fare? Let’s take a look at the latest headlines and market performance: Headlines: BusinessNZ services index shot up from an upwardly revised 40.7 to 44.6 in July; Employment component edged higher from 45.7 to 46.6 Rightmove: U.K. property sellers’ asking prices were down by 1.5% m/m in August after a 0.4% downtick in July Japan core machinery orders increased by 2.1% m/m…

Reserve Bank of Australia August meeting minutesThe Reserve Bank of Australia considered a case to raise rates but decided that a steady outcome better balanced the risks.The RBA mentioned that the cash rate might have to stay steady for an “extended period.”The RBA members agreed it is unlikely that rates would be cut in the short term.The RBA emphasized the need to be vigilant to upside risks to inflation, and that policy would need to remain restrictive.The RBA noted that an immediate hike in rates could be justified if risks to inflation had increased “materially.”The RBA suggested that keeping rates…

The alluring world of financial markets beckons with the promise of substantial rewards. But navigating its ever-shifting tides can be a daunting task, especially for new traders. Fortunately, a plethora of tools exist to equip you for success, and trend indicators are a cornerstone of any technical analysis toolbox. Today, we delve into the Identify Trend MT4 Indicator, a powerful tool specifically designed for the widely used MetaTrader 4 (MT4) platform. Before diving into the specifics of the Identify Trend MT4 Indicator, let’s establish a solid foundation. Trend trading, a core strategy in technical analysis, thrives on the principle that…

Gold Price trades flat near $2,500 in Tuesday’s early Asian session. Fed’s dovish remarks and rate-cut bets underpin the Gold price.  Easing geopolitical risks in the Middle East might cap the upside for XAU/USD.  Gold Price (XAU/USD) hovers around $2,500 during the early Asian session on Tuesday. The rising expectation of the interest rate cut by the Federal Reserve (Fed) in September and further US dollar weakness are likely to underpin the precious metal in the near term. Fed Chair Jerome Powell’s speech at Jackson Hole will take center stage on Friday. The yellow metal reached a new all-time high of…

The U.S. dollar’s taking a nosedive, causing the EUR/USD to ride high. The dollar weakness has been fueled by dovish comments from Federal Reserve officials, particularly regarding a gradual approach to reducing interest rates. This sentiment is supported by recent U.S. economic data (which was covered in our weekly recap) that suggests inflation is easing, though concerns about economic resilience persist. There are growing expectations that Federal Reserve Chair Jerome Powell will signal a potential interest rate cut at the upcoming Jackson Hole symposium later this week.  While the extent of easing is unknown, comments from Fed officials, including Minneapolis…