Author: FX

GSAT, BBAI and EVTL are among pre market gainers Source link

One of the best things about joining forex trading forums is that you get to interact with fellow currency trading enthusiasts. Thing is, if you’ve been in the trading scene a while, you start to notice common questions and concerns across different discussion threads. Today I’m dedicating a post to the most common trading woes that I see in trading forums. I’ve also included some of my notes in case forex newbies drop by for a lesson and trading enthusiasts are in the mood for a throwback. Take a look at five of them and see if any of them…

© Reuters. Ukraine and Russian flags are seen through broken glass in this illustration taken March 1, 2022. REUTERS/Dado Ruvic/Illustration/file photo (Reuters) -Ukrainian drones struck targets in at least six regions deep within Russia on Wednesday, including an airfield where they destroyed military transport planes, in one of the broadest volleys yet of Kyiv’s campaign to turn the tables on Moscow. Russian officials described attacks on targets in the Pskov, Bryansk, Kaluga, Orlov, Ryazan and Moscow regions. The Russian foreign ministry said the attacks would “not go unpunished” and could not have reached so far into Russian territory without Western…

UK:The BoE hiked by 25 bps as expected. The central bank seems to be leaning more on the less hawkish side as a key line in the statement was tweaked to indicate the propensity for a “higher for longer” stance rather than keeping with additional rate hikes. Recent key economic data like the latest employment report showed even more wage growth despite the unemployment rate ticking higher again, and the UK CPI beat expectations pointing to stagflation. The UK PMIs missed expectations across the board with the Services sector plunging into contraction.The market expects the BoE to hike by 25…

Share: Here is what you need to know on Wednesday, August 30: The US Dollar holds its ground early Wednesday after suffering large losses against its rivals on Tuesday. The European Commission will release business and consumer sentiment data for the Euro area. Later in the session, Consumer Price Index (CPI) figures from Germany will be watched closely by market participants. The US economic docket will feature August ADP Employment Change, July Goods Trade Balance and Gross Domestic Product (GDP) data for the second quarter. The US Dollar Index turned south and lost 0.5% on Tuesday after the…

EUR/USD just broke a key trend line resistance! Will today’s catalysts provide a break-and-retest situation in the 15-minute time frame? Check this out: EUR/USD 15-Min Forex Chart by TV After consolidating at the 1.0800 area, EUR/USD has seen a bullish upswing and is now trading closer to the 1.0870 zone. That’s above a trend line resistance that had been around since mid-August! We don’t have far to look for some answers. See, both Fed Chairman Powell and ECB President Lagarde shared hawkish statements over the Jackson Hole weekend. But thanks to this week’s U.S. data misses, Fed rate hikes are…

With all the top-tier U.S. catalysts lined up, we might just see big moves from the dollar index soon! Here’s a trend setup I’m watching on the daily time frame. As you can see from the long-term chart below, USDX has been cruising with lower highs and lower lows inside a descending trend channel. U.S. Dollar Index (USDX): Daily U.S. Dollar Index (USDX) Daily Chart by TV The U.S. dollar index is now testing the very top of this channel, and technical signals are hinting at another major leg lower. For one, the 100 SMA is below the 200 SMA…

© Reuters. FILE PHOTO: A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. REUTERS/Issei Kato/File Photo By Leika Kihara KUSHIRO, Japan (Reuters) -After a decade of massive monetary stimulus, Japan’s inflation is “clearly in sight” of the central bank’s target, its board member Naoki Tamura said on Wednesday, signalling conditions for phasing out ultra-loose policy could be met early next year. While Tamura is considered by markets as a hawk within the Bank of Japan’s (BOJ) nine-member board, his remarks suggest that discussions on the timing for dismantling the BOJ’s radical stimulus will…

Wall Street took comfort from several downside surprises in US macro data overnight, with the data taming some rate hike bets and saw US Treasury yields decline. The US two-year yields were down 11 basis-point (bp), reversing all of last week’s gains, while the 10-year yields were down 8 bp to deliver a two-week low. The US dollar reverses further (-0.3%), allowing major US indices to secure its third straight day of gains.Both the US job openings and consumer confidence data overnight were lower than expected, which point towards a weaker consumer spending outlook and some cooling in labour demand.…

People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.2796more to come Source link