Author: FX
The major European indices are ending the day higher. The gains were modest.A snapshot of the closing levels shows:German Dax, +0.23%France CAC, +0.24%UK FTSE 100, +0.19%Spain’s Ibex +0.18%Italy’s FTSE MIB, +0.28%For the trading week, most of the indices are on pace for gains with Friday to go. The gains are led by Spain’s Ibex which is higher by 1.48%. The one exception is the UK FTSE which is down marginally:German Dax, +0.47%France CAC, +0.61%UK FTSE 100, -0.28%Spain’s Ibex +1.48%As Europe heads for the exits and market activity dies down with the US on Thanksgiving Day holiday (with equity and bond…
Share: GBP/USD sustains rise above 1.2500, in a market quieted by US Thanksgiving holiday. UK’s economic recovery signals boost GBP, with Services and Composite PMIs expanding and Manufacturing PMI outperforming expectations. The UK’s long-term economic outlook remains cautious, with potential BoE rate hikes looming. The Pound Sterling (GBP) gets some relief and advances against the US Dollar (USD) in thin trading due to US markets being closed during Thanksgiving. Nevertheless, the GBP/USD has risen to a ten-week high and trades above the 1.2500 figure for the fourth consecutive day. Pound Sterling gains against the Dollar, supported by improved…
Japanese Yen (JPY) Analysis and Charts• USDJPY retreat has slowed into the Thanksgiving Break• Latest Fed Minutes were seen as hawkish• Japanese inflation numbers come as BoJ policy is in focus Recommended by David Cottle Get Your Free JPY Forecast The Japanese Yen was very modestly higher against the United States Dollar as Thursday’s European afternoon wound down, with trade momentum predictably sapped by the US Thanksgiving holiday break. In some respects that break has come at an inopportune time for Dollar bulls. This week’s release of minutes from October’s Federal Reserve monetary policy meeting has been taken by the…
Lomiko Metals announces retirement of executive chair Paul Gill Source link
RAND TALKING POINTS & ANALYSISSARB keeps rates at 8.25% since their last hike in May 2023.Low trading volumes today will likely extend throughout the remaining trading session.USD/ZAR hovers around key resistance.Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE guide now! Foundational Trading Knowledge Macro Fundamentals Recommended by Warren Venketas USD/ZAR FUNDAMENTAL BACKDROPThe South African rand was in firm focus today without any US interference due to Thanksgiving Day. All eyes were on the South African Reserve Bank (SARB) today with the Governor Lesetja Kganyago announcing that the committee will…
© Shutterstock The European Central Bank (ECB) has indicated a steadfast approach to monetary policy adjustments in response to long-term inflation expectations. The latest minutes from the ECB’s October meeting, released today, underscored a commitment to maintaining flexibility and the possibility of further rate hikes if needed to achieve the bank’s inflation target by 2025. The central bank’s records pointed out that while there has been heightened economic uncertainty and persistent domestic inflation since their September assessment, they expect inflation to stabilize at the ECB’s target within the next two years. Despite recognizing the complexities involved in reducing inflation during…
GBP/USD Analysis and ChartsBetter than expected PMI data underpins Sterling’s recent rally.Cable (GBP/USD) prints a fresh 10-week high.For all market-moving economic data and events, see the DailyFX CalendarThe latest UK S&P Global PMIs beat both last month’s prints and expectations earlier today, with the all-important services sector leading the way.Learn How to Trade Financial News with our Complimentary Guide Recommended by Nick Cawley Trading Forex News: The Strategy According to Tim Moore, economics director at data provider S&P Global Market Intelligence,‘The UK economy found its feet again in November as the service sector arrested a three-month sequence of decline and…
The importance of good trading psychology cannot be emphasized enough, but what exactly is it safeguarding against? Based on one of my favorite trading books “Trading in the Zone”, here are some of the core problems that prevent traders from performing well and how to address them: 1. Resistance to creating and following rules Author Mark Douglas explains that rules and boundaries are needed in order for us to operate effectively in a seemingly random trading environment. Even casinos and other forms of gaming have built-in structures that limit risk, determine wins and losses, or define when the play ends……
In the world of forex trading, precision and timing are paramount. Traders 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 immense popularity in recent years is the Double Top Double Bottom MT4 Indicator. In this article, we will delve into the intricacies of this indicator, exploring what it is, how it works, and why it has become an indispensable asset for traders worldwide. Understanding Technical Indicators Before we dive into the specifics of the Double Top Double Bottom MT4 Indicator, let’s take…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, DAX40: Analysis and ChartsFTSE 100 continues to be side-linedThe FTSE 100 still range trades below its 55-day simple moving average (SMA) at 7,506 following the chancellor’s autumn statement which despite promising significant tax cuts leaves the UK tax burden at the highest level since 1948.As the US earnings season draws to an end ahead of Thanksgiving and Black Friday, trading volumes will likely be light on Thursday.While the UK blue chip index remains above Tuesday’s 7,446 low, it stays within an uptrend and may still revisit Friday’s 7,516 high.…