Author: FX
Like many other currency pairs, the USDCAD is moving in the direction of a lower dollar and in the process is stretching toward a key technical target. The pair is moving closer to its 61.8% retracement of the 2023 trading year. That level comes in at 1.33999. The low price today has reached 1.34192. A move below the 1.3400 level, would open the door for more downside probing. The low price from September reached 1.3378 (that would be the next target)Recall, that yesterday the price moved down to test the 50% midpoint at 1.3495. That level, along with the breaking…
Share: Economists at Rabobank have revised up our forecasts for GBP against the USD and the EUR. EUR/GBP seen at 0.84 on a 9-to-12-month We see EUR/GBP at 0.84 on a 9-to-12-month view and forecast and Cable at 1.30 at the end of next year. While a return to 1.30 for Cable may be viewed as a victory in some political circles, this would still be well below many measures of fair value for the currency pair and the average levels of GBP/USD 1.5350 that have prevailed since the start of the current century. Similarly, the long-term average…
ECB RATE DECISION: Recommended by Zain Vawda Introduction to Forex News Trading The European Central Bank has kept interest rates steady today while downgrading its inflation forecasts. The Central Bank also signaled an early conclusion to its last remaining bond purchase scheme, all as part of efforts to combat high inflation.For all market-moving economic releases and events, see the DailyFX CalendarThe ECB stated while inflation has dropped in recent months, it is likely to pick up again temporarily in the near term. According to the latest Eurosystem staff projections for the euro area, inflation is expected to decline gradually over…
GBP/USD Analysis and ChartBoE monetary policy left unchanged, 3 members vote for a 25bp hike.Fed’s dovish pivot sends global bond yields slumping to multi-month lows.For all market-moving economic data and events, see the DailyFX CalendarMost Read: US Dollar Sinks on Fed Dovish PivotLearn How to Trade Economic Releases with our Complimentary Guide Recommended by Nick Cawley Trading Forex News: The Strategy The Bank of England left all monetary policy settings unchanged today, as expected, for the third meeting in a row, while three MPC members continue to push for another 25 basis point rate hike.BoE Governor Bailey continued to press…
In the fast-paced world of financial markets, traders are constantly seeking innovative tools and indicators to gain a competitive edge. One such tool that has gained popularity among traders is the Darvas Boxes NMC MT5 Indicator. In this article, we will delve into the intricacies of this indicator, exploring its functionality, benefits, and how traders can harness its power to make informed decisions in the ever-volatile world of trading. Understanding Darvas Boxes NMC MT5 Indicator What are Darvas Boxes? Before we dive into the NMC MT5 Indicator, let’s first understand the concept of Darvas Boxes. Named after the legendary trader…
Mundoro Capital (OTCQB:MUNMF) has announced that it has submitted notice to the TSX Venture of its intention to make a normal course issuer bid. Pursuant to the proposed NCIB Program, the Company plans to purchase for cancellation up to a maximum of 5.22M of its common shares, or approximately 5% of the common shares outstanding. As of November 4, 2023, there were 104.4M common shares issued and outstanding. The company believes that its common shares market price do not reflect the underlying value of the company Source: Press Release Source link
Article by IG Chief Market Analyst Chris BeauchampDow Jones, Nasdaq 100, CAC 40 – Analysis and ChartsDow surges through 37,000The index shot to a record high last night, closing above 37,000 for the first time in its history. The dovish tone of the FOMC press conference provided fuel for the rally, capping a remarkable period for the index since late October.Momentum is a powerful force in markets, as we have seen since late October, and so while the price looks overextended in the short term, we could see further gains as positive seasonality kicks in. A pullback might begin with…
2/2 © Reuters. Russia’s President Vladimir Putin attends a meeting with the Constitutional Court judges on Constitution Day outside Moscow, Russia, December 12, 2023. Sputnik/Mikhail Tereschenko/Pool via REUTERS 2/2 MOSCOW (Reuters) – President Vladimir Putin said on Thursday Russia would press on with its war in Ukraine unless Kyiv did a deal that took Moscow’s security concerns into account, adding that the goals of the “special military operation” would in any case be met. Fielding questions from the public and the media at an event dominated by the war, Putin – who has announced he will seek another six-year presidential…
The ECB is up in a few hours! As mentioned in the Week Ahead post, the European Central Bank (ECB) is expected to maintain its monetary policies in December. What could shake up the major EUR pairs are the central bank’s revised economies projections and Lagarde’s presser. After all, they could provide clues on the members’ biases and near-term plans. Will today’s event lead to EUR/CAD extending its short-term uptrend Source link
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…