Author: FX
US Dollar (DXY) Price, Chart, and AnalysisPrice stability remains key for the Fed.US dollar nudges lower. Recommended by Nick Cawley Traits of Successful Traders The conclusion of Fed chair Powell’s Jackson Hole keynote speech suggests that the central bank will ‘proceed carefully’ before making any decisions on future monetary policy decisions.‘At upcoming meetings, we will assess our progress based on the totality of the data and the evolving outlook and risks. Based on this assessment, we will proceed carefully as we decide whether to tighten further or, instead, to hold the policy rate constant and await further data. Restoring price…
Japanese Yen (USD/JPY, EUR/JPY) AnalysisIndicator of broader price pressures reach record highsIG client sentiment hints at bullish extensionEUR/JPY breakdown scenario may receive a boost from dovish leaning ECBThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow How to Trade USD/JPY Indicator of Broader Price Pressures Reach Record HighsWhile core inflation in Japan slowed for a second consecutive month, another indicator closely watched by Bank of Japan (BoJ) officials suggests rising prices are yet to continue. Based on the consumer price data,…
Brian Evans State Street Global Advisors argued in a recent investor note that Wall Street should brace themselves for a more hawkish Powell on Friday. The asset manager said the Federal Reserve does not want to repeat its mistake of letting its foot off the gas on inflation like they did back in 1970 under Fed Chairman Arthur Burns. “The Fed likely isn’t convinced inflation has been beaten. As a result, there won’t be any curtain calls at Jackson Hole. Instead, investors should expect more tough talk from Chairman Powell that the Fed is more committed than ever to defeating…
Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked. Traders are no strangers to missing good trade opportunities. At one point or another we’ve encountered setups that we didn’t take even though they so clearly fit our biases and strategies. All too often, those missed trades also tend to be winners. There are plenty of reasons why we fail to catch good pips. We’re all humans, after all. Steve, for example, could…
EUR/USD and EUR/GBP Forecast – Prices, Charts, and Analysis Recommended by Nick Cawley How to Trade EUR/USD The Euro remains on the back foot after Wednesday’s anemic PMIs showed the single bloc’s economy struggling to make any headway. The latest ECB ‘sources’ talk is that momentum is growing for the European Central Bank to pause any further rate hikes as recession fears grow. Weak growth, benign wage growth, the slowdown in Chinese economic activity, and improved policy transmission are all noted, although the ‘sources’ add that the central bank would also make clear that futures rate hikes may still be…
© Reuters. FILE PHOTO: U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo By Dhara Ranasinghe LONDON (Reuters) -The euro fell to its lowest level since mid-June on Friday, held back by growing expectations the European Central Bank could soon pause rate hikes, while a buoyant dollar lost some momentum before a speech by Federal Reserve Chair Jerome Powell. ECB policymakers are increasingly worried about weakening growth prospects and, while the debate is still open, momentum for a pause in its interest rate increases is building, Reuters reported, citing eight sources with direct knowledge…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, S&P 500 Analysis and ChartsFTSE 100 on track for the first week of gains in a monthThe FTSE 100 is on track to end the week up for the first time in a month as UK GfK consumer confidence came in at a better-than-expected -25 in August compared to -30 in the previous month. While Thursday’s low at 7,310 underpins, Thursday’s high at 7,385 may be revisited. If overcome, the May, June, and early August lows at 7,401 to 7,437 would be in focus. Further up the mid-July high…
Man, oh man! As someone who’s watched the NBA for decades, I’ve had my fair share of debates. The typical ‘Kobe or Mike?’ or ‘LeBron or Mike?’ – and every single time, I’ve said, “MJ all the way!”. And now, just to add a little more icing on the cake, Mike is now officially the richest baller to ever grace the courts. Talk about being the GOAT in basketball and in business! ??And if we’re talking about the greatest sport person ever alive, we gotts show some of his moves as we talk about how much dough he made…From barely…
Share: The main event today will be the US Fed’s Jackson Hole Symposium. Economists at Commerzbank analyze how Fed Chair Powell’s speech could impact the US Dollar. Hawkish comments by Powell could push the USD a bit further Comments by Powell, which the market interprets as hawkish, could push the USD a bit further. If Powell disappoints, on the other hand, the Dollar is likely to give back a good part of the gains it has already made in the run-up to the speech. Source link
GOLD PRICE FORECAST:For Beginner Traders, Download Your Free Forex Guide Below Recommended by Zain Vawda Forex for Beginners MOST READ: USD/ZAR Forecast: Rand (ZAR) Slides Despite BRICS Expansion Plans, A Temporary Blip?Gold prices may have fallen back slightly from a 2-week high but remains up around 1.31% at the time of writing and on course to snap a 4-week losing streak. Gold has been a surprise this week given the early rise in US yields as well as strength in the Dollar Index (DXY) for the majority of the week.US DATA, DOLLAR INDEX AND JACKSON HOLEAs Gold looks to snap…