Author: FX
Share: AUD/JPY kicks off the week just under the 92.00 mark, leveraging positive market sentiment that favors riskier assets over safe havens like the Japanese Yen. The AUD/JPY technical outlook remains bullish, with indicators like the RSI and the 3-day RoC hinting at gathering momentum among buyers. AUD/JPY faces immediate resistance at 92.00, with the potential to challenge the YTD high of 92.99; downside support stands at the May 29 low of 91.59, with further falls potentially targeting 91.00. AUD/JPY begins the week on the right foot, though almost unchanged as Tuesday’s Asian session begins, registering minuscule gains…
Notable earnings after Tuesday's close Source link
© Reuters. and the S&P 500 Index (SPX) recovered from their respective intra-week lows to finish last week on a positive note. The recovery was largely driven by the expectations of a debt ceiling deal being reached between the White House and congressional Republicans. While the short-term picture looks promising, traders should not let their guard down. Many times, the price rises on rumors and falls on the news. It needs to be seen whether the bulls will build upon last week’s strength or give back some of the gains after the deal makes its way through Congress.Daily cryptocurrency market…
Dollar index with the 50 day and 200 day moving averagesBank of America (BofA) has shared insights into 8technical strategies based on historical performance data, revealing a variety of potential investment patterns. Key findings include:Golden Cross: This event, when the 50-day moving average (MA) crosses above the 200-day MA, tends to precede rises in the DXY (Dollar Index) 65-79% of the time, typically 20-80 days later. The S&P 500 (SPX) also tends to deliver strong returns 30, 65 and 195 days post Golden Cross, with an uptrend observed 75% of the time.Death Cross: When the 200-day simple moving average (SMA)…
Heads up forex traders! Australia is dropping April’s annualized inflation reading pretty soon! Will the latest rate support “peak” inflation speculations? More importantly, how might the result affect the Reserve Bank of Australia’s (RBA) next monetary policy decision? Here are points to note if you’re planning on trading Wednesday’s release: Event in Focus: Australia Annualized Consumer Price Index for April 2023 When Will it Be Released: May 31, 2023 (Wednesday), 1:30 am GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Australia monthly CPI (y/y): 6.4% forecast vs. 6.3% previous Relevant Data Since…
Share: Oil price finds a floor after Republicans and Democrats agree a deal to extend the US government debt ceiling on Sunday. The deal means a default is unlikely and boosts demand prospects in the US. US interest rates are expected to rise further after debt deal and strong US macro data. Higher interest rates, however, will strengthen the US Dollar but weigh on Oil. Oil price remains in a familiar range within the $72s on Monday, as traders in both the US and UK take a break to enjoy the bank-holiday weekend. WTI Oil is finding…
Signal Gold amends $7M private placement Source link
4/4 © Reuters. FILE PHOTO: Spain’s Prime Minister Pedro Sanchez appears after he casts his vote at a polling station during Regional elections, in Madrid, Spain, May 28, 2023. REUTERS/Juan Medina 2/4 By Belén Carreño and Inti Landauro MADRID (Reuters) -Spain’s Socialist Prime Minister Pedro Sanchez called a snap national election on Monday and his main conservative rival urged voters to make him the country’s next leader, after left-wing parties suffered a heavy defeat in a regional ballot. Sanchez, who had often said he wanted to see out a full term in office, portrayed Sunday’s rout as a clear vote…
TURKEY RUNOFF ELECTION RESULTS, USD/TRY: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter READ MORE: EUR/USD, GBP/USD Eyeing Recovery on Low Liquidity Monday Following US Debt DealTurkey has seen the re-election of Recep Tayyip Erdogan in a runoff election on Sunday. The result will see Erdogan’s rule stretch into a third decade with the President stating that “it is time to put aside debates and conflicts and focus on our national goals and dreams.”Results from Turkeys Supreme Election Council on Sunday showed Erdogan winning 52.14% of…
If you’ve had the chance to review your past trades in your trading journal, you can probably pinpoint a few bad habits that hinder you from winning some of your trades. And if you haven’t even started recording your trades in a journal, shame on you! Haven’t you read the section on the importance of trade journals in our awesome School of Pipsology!? If your trade journal is chock-full of bad trading habits, don’t fret just yet. What looks and feels like a gazillion bad habits may just be one major problem that’s manifested in several different ways. Before you…