Author: FX
Last week was the Jackson Hole Symposium week and we have heard from many Fed members about their opinions on the momentary policy going forward. There seems to be a consensus for a pause in September as they try to “carefully” assess the lag effects of their tightening to date. Nonetheless, they are ready to do more if conditions require further tightening and in fact, they keep reaffirming their data dependency. The economic data since the last FOMC meeting has been surprising to the upside with the labour market remaining very strong, but the last two inflation reports showed the…
Ready for your first trade this week? If you’re still looking for setups to trade, then you’ll want to check out AUD/USD’s SMA crossover while in a consolidation. Let’s take a closer look at the 1-hour chart: AUD/USD 1-hour Forex Chart by TV I don’t know if you’ve noticed, but Aussie bulls did a great job of defending the .6380 support last week. This meant that AUD/USD has stopped making lower highs and lower lows for the first time since the pair got rejected from the .6900 handle in mid-July. Does this mean that AUD/USD is ready for a bullish…
Share: NZD/USD attracts some buyers above 0.5900 on Monday. Chinese finance ministry would reduce the 0.1% duty on stock trading to boost the capital market, strengthen investor confidence. Fed is prepared to hike interest rates further if required but it would be determined by data. Market players await the US Nonfarm Payrolls, Chinese Caixin Manufacturing PMI. The NZD/USD pair snaps the two-day losing streak during the early European session on Monday. The pair currently trades around 0.5916, gaining 0.23% on the day. The strength of the Kiwi is bolstered by the fresh measures from Chinese officials to recover…
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US Dollar Vs Euro, British Pound, Australian Dollar – Outlook:The DXY Index (USD index) is testing key resistance after Powell warned of more tightening.Broader picture of USD rally fatigue remains intact ahead of key US data this week.What is the outlook and the key levels to watch for EUR/USD, GBP/USD, and AUD/USD? Recommended by Manish Jaradi Improve your trading with IG Client Sentiment Data The US dollar is holding gains against its peers after US Federal Reserve Chair Jerome Powell warned of more tightening to bring down inflation to the 2% target, especially if the recent uptick in activity exerts…
© Reuters. FILE PHOTO: A view of the Fukushima Daiichi nuclear power plant after it started releasing treated radioactive water into the Pacific Ocean, seen from the nearby Ukedo fishing port in Namie town, Fukushima Prefecture, Japan, Aug. 25, 2023. REUTERS/Tom Bat TOKYO (Reuters) – Japan’s top government spokesman said on Monday it was extremely regrettable that there were many instances of harassment phone calls from China regarding the release of treated radioactive water from the Fukushima nuclear power plant into the Pacific. Source link
U.S. Secretary of Commerce Gina Raimondo comments crossing: Says it is profoundly important that the US has stable economic relationship with ChinaThinks the US can make progress with China if both sides are ‘direct, open and practical’Chinese Commerce Minister Wang Wentao met US Commerce Secretary Gina Raimondo in Beijing on Monday morning.Earlier: Source link
Share: USD/CAD hovers around 1.3595 after retreating from a three-month high of 1.3640. Fed Chairman Jerome Powell remarked that the central bank is prepared to hike interest rates further if required. A decline in oil prices weakens the Canadian Dollar. Investors await the US GDP, core PCE, and Nonfarm Payrolls due later this week. The USD/CAD pair loses some ground below the 1.3600 mark after retracing from 1.3640, the highest level since May. The major pair currently trades near 1.3596, losing 0.03% for the day.The economic data on Friday showed that the University of Michigan’s (UoM) Consumer Confidence…
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XRP’s price is down today, mirroring trends elsewhere in the cryptocurrency market as investors de-risk after Federal Reserve Chairman Jerome Powell’s hawkish statements at Jackson Hole. On Aug. 25, the XRP (XRP) price dropped 1.25% to $0.507, slightly underperforming the crypto market, whose capitalization fell 1% in the same period. This coincided with the (DXY) rising to a two-month high, suggesting investors are increasingly seeking safety. vs. DXY (blue) and crypto market capitalization (orange) daily performance chart. Source: TradingViewXRP supply distribution among entities with a 100,000-plus token balance. Source: SantimentXRP/USD daily price chart. Source: TradingViewContinue Reading on Coin Telegraph Source…