Author: FX
In this video, I take a take a technical look at the GBPUSD as we head into the weekend and prepare for the new trading week. What levels will be key technically next week and why? This article was written by Greg Michalowski at www.forexlive.com. Source link
Share: Europe sees green as stocks celebrate the end of ECB rate hikes. European rate hike cycle appears at the peak as central bank focuses on how long rather than how much for current rates. Consumer data beats from China supporting risk appetite to finish the week. European equity indexes enter the weekend broadly in the green after a good week on the charts. London’s FTSE 100 index caught a late-week rally to end the trading week into the £7,700 region. Developers and home builders were the big bidders for the United Kingdom’s (UK) major index as investors…
Share: USD/CHF trades at 0.8963, just shy of the key 0.9000 level, after gaining 4.50% from its year-to-date low. Buyers aim to reclaim the 0.9000 psychological mark and the 200-day Moving Average at 0.9039 for further upside. Downside risks emerge if the pair falls below the September 14 daily low of 0.8914, targeting the 0.8900 mark and the 50-DMA at 0.8774. The USD/CHF extended its gains in the week to five consecutive days and printed a new two-month high at 0.8977, yet it remains shy of reclaiming the 0.9000 figure. Nevertheless, the pair is set to continue its…
Not just China and the US, but Europe tooThe great scramble for the global car market is underway and it looks like China will win.Last year China unleashed a carefully planned ramp up in EV production from the ground up, including an entirely domestic battery industry that also holds 70% of global market share.Combine that with China’s incredible manufacturing prowess along with low wages and they have a winning hand. This is one of the most-impressive economic charts I’ve ever seen.The speed with which China has passed the world in cars is breathtaking and it has people in Washington and…
Share: Arm Holdings gained 24.7% on Thursday debut. ARM stock sells off Friday after initial rally. Higher Oil prices are affecting market sentiment as inflation indicators rise this week. United Auto Workers initiates strikes at Ford, GM and Stellantis factories. Taiwan Semiconductor tells suppliers to delay equipment orders. Arm Holdings (ARM) stock is being hit by profit-taking on Friday. After spiking 24.7% from its IPO price on Thursday, ARM stock rose to $69 following the opening bell on Friday but since then has fallen to the lower $60s. The NASDAQ Composite, meanwhile, is down almost 2% at the time of writing.…
Share: USD/JPY advances to fresh multi-month highs near 147.85 US Michigan’s Consumer Sentiment came in lower than expected. The US DXY index reached its highest point since March 9 at 105.43 and then settled at 105.23. All eyes are now on the Fed’s decision next week. Ahead of the weekend, the USD/JPY pair resumes its upward path, rising to 147.85 and on the point of recording a second consecutive week of gains. On the USD side, the Greenback trades soft and faces selling pressure after soft consumer sentiment figures from the US in September. However, the DXY index will close its eight-consecutive winning week,…
The price action in the Nasdaq is worrisome. TSLA started the week off with a 10% rally and hasn’t given any of it back yet the Nasdaq is now lower on the week and in danger of closing at the lows of the week.Maybe I’m reading too much into what’s largely been a lackluster trading week ahead of the Fed but it’s not the most-inspiring price action and there’s a good chance Powell will make a hawkish push for November next week.Nasdaq dailyThe Nasdaq Composite is down 1.6% today with notable laggards:ADBE -4.6%NVDA -3.4%META -3.2%AMZN -2.9%You have to worry about…
It was a fantastic week for our forex strategists as four out of four discussions played out favorably relative to our biases and expectations. Check out the recaps below to see how using fundamental analysis helped our efforts to anticipate price action, which can hopefully help you understand this part of the trading process better and level up your fundamental analysis skills! GBP/USD 1-hour Forex Chart by TradingView On Monday, expectations were riding high that the upcoming U.K. employment data update for July would be as weak as a soggy biscuit. This had the potential to lure in fundamental sellers,…
Torsten Asmus With the Federal Reserve’s monetary policy committee meeting coming up next week, Deutsche Bank takes a look at the average move of the 10-year Treasury yield (US10Y) for some clues as to whether the central bank has hiked rates for the last time in its tightening cycle. The Fed hiked rates by another 25 basis points on July 26, bringing the federal funds rate target range to its highest level in 22 years at 5.25%-5.50%. The monetary policy committee earlier in June had held rates steady after ten consecutive boosts in just a little over a year. According…
GBP/USD Analysis and ChartsThe Bank of England is likely to raise rates by 25bps next Thursday.Will the BoE follow the trend of a ‘hike and hold’For all market-moving economic data and events, see the DailyFX Calendar Recommended by Nick Cawley How to Trade GBP/USD Next week’s Bank of England interest rate decision is likely to be a closer call than current market pricing suggests. Markets are looking for the BoE to raise interest rates by a quarter of a percent from 5.25% to 5.50%, a fresh 15-year high. It is unlikely that this decision will be unanimous as various voting…