Author: FX
OIL PRICE FORECAST:Oil Failed at the 200-Day MA as the Technical and Fundamental Factors Weighed on the Price.OPEC+ Announce 2 Million bpd Cuts for Q1 2024 but it Appears Markets Expected More.Will the Bulls Recover or is a Retest of $70 a Barrel on the Cards?To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section.Most Read: Oil Price Forecast: WTI Faces Technical Hurdles as OPEC+ Rumors SwirlOil prices rose this morning coming within a whisker of the psychological $80 a barrel mark. However, the OPEC+ meeting which was supposed to inspire a break…
US DOLLAR FORECAST – EUR/USD, GBP/USDThe U.S. dollar extends its recovery as U.S. yields push higherPowell’s speech on Friday will take center stageThis article looks at key tech levels to watch on EUR/USD and GBP/USD Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Consumer Spending Eases but the US Dollar Index (DXY) Continues to AdvanceThe U.S. dollar, as measured by the DXY index, extended its recovery on Thursday, boosted by a bounce in U.S. Treasury yields following remarks from San Francisco Federal Reserve…
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…
Japanese Yen (USD/JPY) Analysis and ChartsUSD/JPY ticks up as November bows outA BoJ official has cast doubt on any near-term monetary alterationThe USD, meanwhile, has been boosted by stronger US growth dataThe Japanese Yen slipped a little against the United States Dollar on Thursday, with the possibility of tighter Japanese monetary policy undermined by recent commentary from an official at the Bank of Japan. The foreign exchange market has been cautiously bullish on the comparative outlooks for the two majors since mid-November. The prospect of lower US interest rates in the first half of next year has stripped the Dollar…
Share: Pending Home Sales in the US declined less than expected in October. US Dollar Index stays in positive territory around 103.40. Pending Home Sales in the US rose 1.1% in October, the National Association of Realtors reported on Thursday. This reading followed a 1% increase recorded in September (revised from 1.1%) and came in better than the market expectation for a decrease of 2%. On a yearly basis, Pending Home Sales fell 8.5%. Market reaction The US Dollar stays on positive ground, supported by previous economic reports from the US that included consumer inflation and Jobless Claims.…
US Core PCE Key Points:MOST READ: Oil Price Forecast: WTI Faces Technical Hurdles as OPEC+ Rumors SwirlElevate your trading skills and gain a competitive edge. Get your hands on the News Trading Guide today for exclusive insights on how to navigate news events. Recommended by Zain Vawda Trading Forex News: The Strategy Core PCE prices MoM slowed in October following two successive months of 0.4% increases. The October print of 0.2%, in line with estimates was the weakest reading since July 2022. ThePCE price indexincreased less than 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent.The…
Apogee Minerals acquires uranium-gold project located in northern Saskatchewan Source link
In the fast-paced world of financial markets, having a competitive edge is paramount. Traders, both novice and experienced, are constantly on the lookout for tools and strategies that can help them make informed decisions and maximize their profits. One such tool that has gained significant popularity among traders is the Trend Channel MT4 Indicator. In this article, we will delve into the intricacies of this powerful indicator, exploring its features, benefits, and how it can be effectively used in trading. Understanding the Basics What is the Trend Channel MT4 Indicator? The Trend Channel MT4 Indicator, also known as the Trend…
© Reuters. The9 Limited, a Shanghai-based internet company listed on NASDAQ, has successfully completed a private placement transaction, raising $12 million from Singapore’s Bripheno Pte. Ltd. This influx of capital is intended to support the company’s expansion of high-tech internet services, with a particular focus on blockchain and cryptocurrency mining sectors. The agreement with Bripheno, a move that underscores The9’s commitment to its growth strategy, includes the condition that all newly issued securities will be subject to a six-month lock-up period following the transaction. This restriction is part of the broader terms of the deal and is aimed at stabilizing…
The S&P 500 couldn’t increase the gains much this week despite a less hawkish Fedspeak and increased rate cuts expectations. One good reason might be the weakening of US data, especially on the labour market side, as we have also seen recently in the details of the US Consumer Confidence report. Historically, the sustained rise in the unemployment rate is bearish for the stock market. S&P 500 Technical Analysis – Daily TimeframeS&P 500 DailyOn the daily chart, we can see that the S&P 500 began to lose some steam as it approached the cycle high at 4607. We might start…