Author: FX
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…
© Reuters. On Friday, the European Union (EU) regulators imposed a fine of approximately $370 million on TikTok for its inadequate safeguarding of children’s personal data. The penalty was issued by Ireland’s Data Protection Commission on behalf of the bloc’s 27 members, marking the first such fine against TikTok by the EU. The social media platform, owned by China-based ByteDance, was criticized for insufficient privacy measures for users aged 17 and under. The regulators noted that the platform’s default settings exposed children’s data by making their content public and criticized the company for its lack of transparency regarding data usage.…
GOLD PRICE FORECAST:Gold prices rebound heading into the weekend, challenging cluster resistance stretching from $1,920/$1,930Despite Friday’s recovery, the fundamental backdrop remains challenging for precious metalsNext week, all eyes will be on the FOMC announcement Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Related: Gold Price on Meltdown Alert as USD Eyes Breakout Before Fed, XAU/USD LevelsGold prices (XAU/USD) rebounded on Friday on risk-off sentiment, shrugging off the rise in U.S. Treasury yields ahead of a key FOMC gathering in the coming days. In late morning trading,…
USD/JPY AnalysisUSD/JPY edges higher after uptick in US CPI reinforces ‘higher for longer’ narrativeFed forecasts in focus as markets look for confirmation on peak rates and CPI forecastsIG client sentiment hints at bullish fatigue as recent positioning data reveals a change in courseThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryUSD/JPY edges higher after US CPI reinforces ‘higher for longer’ narrativeAt the start of the week, Bank of Japan Governor Ueda stated the bank may have enough data to make a decision on ending negative…
In the morning forex video, I kickstart the trading day by taking at technical look at the EURUSD, USDJPY and GBPUSD. EURUSD: The EURUSD is trading between resistance above up to 1.06669, and support near the swing low from the May 31 low at 1.0635. Getting through 1 of those levels should lead to further momentum in the direction of the break. The current price is trading between the area at 1.0650.USDJPY: The USDJPY was able to break above the swing highs from September near 147.867, but stalled near 147.941 just ahead of natural resistance at 148.00. The swing low…
Share: Cable’s push higher stalled around the 1.2450 mark. Economists at Scotiabank analyze the GBP/USD outlook. Strength through 1.2550 resistance is needed to cue up more gains Short and medium-term trend dynamics are GBP-bearish and loss of support in the mid and upper 1.24s this week points to GBP losses extending towards 1.20/1.21 in the next few weeks. Cable gains back through the 1.2475 resistance will stabilize trends in the short run. GBP strength through 1.2550 resistance is needed to cue up more gains. Source link
From my years of trading, I’ve observed that a trader’s inability to truly make it big in the forex market, more often than not, stems from fear. I’m sure you know what I’m talking about. After a strong profitable month, you probably feel anxious to trade again for fear of losing your recently gained profits. If you do take another trade, you may find it difficult to stick to your tried-and-tested strategy. You may even avoid depositing more money into your account even though you have the skills to become consistently profitable! Don’t worry, a lot of traders have experienced…
EUR/USD Forecast – Prices, Charts, and AnalysisEUR/USD technical outlook remains bleak.FOMC – a hawkish hold next week? Recommended by Nick Cawley How to Trade EUR/USD The ECB hiked rates yesterday by 25 basis points across the board, the central bank’s tenth consecutive increase, as it strives to bring inflation back to target. The latest Staff Projections suggest that this may be harder than previously thought as they raised their average inflation forecasts to 5.6% this year and to 3.2% in 2024, both 0.2% higher than the June projections. While the interest rate hike was not unexpected, the mildly dovish tone…
GBP/USD, GBP/AUD PRICE, CHARTS AND ANALYSIS:Read More: WTI, Brent Shrug Off US Inventories Surge as Oil Prices Hit Fresh 2023 HighsGBP has faced selling pressure this week weighed down in part by GDP data, with an increase in total earnings unable to arrest the slide. Now obviously there was some mitigating effects on the recently released data which may blur the actual picture but comments from policymakers including Chancellor Hunt hint at a tough time ahead for the UK as energy prices soar once more. Recommended by Zain Vawda Forex for Beginners UK RECESSIONARY FEARS AND BANK OF ENGLAND EXPECTATIONSThe…
V2images/iStock Unreleased via Getty Images Qualcomm China (NASDAQ:QCOM) has signed a non-binding memorandum of understanding with Chinese internet search giant Baidu to cooperate on extended reality, or XR, technology and jointly create a new platform for metaverse and compatible services. Baidu added the companies will also work on generative artificial intelligence, or AI, to build a new generation of metaverse infrastructures, according to a report from Reuters. In a post on local messaging service Weixin, Baidu noted that it will be able to build XR applications and content more rapidly by integrating Qualcomm’s Snapdragon Spaces XR developer platform and related…