Author: FX

The Bank of Canada (BoC) has been cautious in its communication regarding its recent policy rate decision, aiming to avoid any misinterpretation that it had concluded its cycle of raising interest rates or that borrowing costs would soon decrease. This information was revealed in documents released on Wednesday, detailing the deliberations of the Bank’s governing council leading up to its last rate decision. The Bank’s key interest rate was held steady at five percent earlier this month, a move that was largely anticipated by economists due to observed slowdowns in the economy and rises in the national unemployment rate. However,…

FOMC INTEREST RATE DECISION KEY POINTSThe Fed hit the pause button at its September meeting, holding interest rates at a 22-year high of 5.25% to 5.50%.Policymakers upgraded their GDP outlook and reduced the core PCE projection for the year. Meanwhile, the dot-plot continued to signal another hike in 2023.Gold and the U.S. dollar headed in different directions after the FOMC statement was released.Most Read: EUR/USD Forecast – How Will Fed’s Decision Impact Euro’s Outlook?The Federal Reverse today concluded its highly anticipated September meeting, unanimously voting to keep its benchmark interest rate at a 22-year high within the range of 5.25%…

The AUDUSD is moving higher today with the pair being the biggest mover of the day (up 0.74%). The move to the upside has seen the price move above a swing area between 0.6480 and 0.6487. On the top side, the next key target comes against swing highs from the week of August 10 and the week of August 25. That ceiling comes in at 0.65214. Get above that level and the door opens for a move toward the 38.2% retracement of the move down from the July high at the 0.65623 level.On the downside now, a move below 0.6480…

Share: USD/JPY trades cautiously at 147.75, just off its YTD high, as traders await the Fed’s monetary policy decision. US Dollar Index dropped 0.36% to 104.82 amid falling Treasury yields, adding pressure on the Greenback ahead of the Fed meeting. Fears of Japanese FX intervention rise, with comments from US Treasury Secretary Janet Yellen and former Japanese Vice Minister Takehiko Nakao fueling uncertainty. The USD/JPY remains subdued early in the North American session as traders brace for the US Federal Reserve’s monetary policy decision. Also, risks of an intervention by Japanese authorities in the Forex markets refrain buyers…

4 stocks to watch on Wednesday: FedEx, Spirit Airlines and more Source link

GBP prices keenly await the BoE rate decision tomorrow after UK CPI repriced expectations to an almost 50/50 split between hike and pause. Source link

Losing is inevitable in trading, so you might as well learn how to deal with losses. In life as in forex trading, there will always be ups and downs. Most traders, especially those who are new to the game, can only stay motivated while winning and tend to feel defeated when losses pile up. Working with the mindset that losing is unacceptable can be unhelpful and even destructive. The fact of the matter is that losing in trading is important, if not essential. If you’re not ready to lose, it will be IMPOSSIBLE to survive in the forex world. If you’re…

© Reuters. FILE PHOTO: Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo (Reuters) – Coty (NYSE:) on Wednesday raised its annual core sales forecast on the back of higher pricing and strong demand as customers splurge on its high-end and affordable cosmetics and fragrances. The CoverGirl parent’s shares were up 6% in premarket trading. Even though inflation has dented sales of higher-margin goods, the beauty industry has seen a boost from people prioritizing spending on smaller luxuries like makeup and perfume, keeping the post-pandemic rebound alive.…

Copper continues to trade within a major triangle as the uncertainty around the global economy remains high. In fact, on one hand we have the Chinese trying to stimulate the economy with the recent economic indicators showing positive signs, while on the other hand, we have the other major economies weakening due to restrictive monetary policies and inflationary pressures. As long as the picture remains so mixed, we are likely to continue to see a rangebound price action.Copper Technical Analysis – Daily TimeframeCopper DailyOn the daily chart, we can see that Copper continues to trade within the symmetrical triangle with…

Share: Economists at Société Générale analyze USD/BRL outlook ahead of the interest rate decision from the Brazilian central bank (Banco Central do Brasil, BCB).  Erosion of positive carry should put a brake on BRL appreciation The return of inflation to the central bank target range and the rise in real rates have cleared the path for the BCB to lower the Selic rate to 12.75%. The guidance for further policy easing is likely to be maintained for the next two meetings, meaning rates would end the year at 11.75%.  The path of inflation will determine the speed of…