Author: FX
Oil Prices, Charts, and AnalysisOil bolstered by Saudi Arabia, Russia output cutsOPEC+ meeting and US Jobs Report later. Recommended by Nick Cawley Get Your Free Oil Forecast The price of oil is trying to make a fresh three-month high after Saudi Arabia and Russia extended their output cuts yesterday. Saudi Arabia announced that it would extend its one million barrels a day cut by a further month until the end of September, while Russia said that it would cut output by 300,000 barrels a day next month. Yesterday’s announcement followed Wednesday’s news of a sharp drop in crude oil stocks.…
Euro (EUR/USD, EUR/GBP) Analysis Recommended by Richard Snow Get Your Free EUR Forecast European Data Set the Bearish Tone Earlier in the WeekThe euro has experienced a sizeable selloff which only continued as the week progressed as EU data softened and US data remained relatively strong. On Monday we saw core inflation edge higher in July but the same could be said for Q2 GDP – surprising the market with a 0.3% QoQ rise after Q1 ended flat.That’s about as good as the data got because German and EU manufacturing PMI reported disappointing figures as new orders slowed despite rapidly…
Article by IG Chief Market Analyst Chris BeauchampFTSE 100, DAX 40, Nasdaq 100, Prices, Analysis and ChartsFTSE 100 claws its way back from Thursday lowsThursday witnessed an impressive recovery from the lows of the session for the index. Having slumped briefly to a three-week low the price has now rebounded. A follow-through back above 7600 would add to the bullish view and suggest that a recovery is in play once more. This then opens the way to 7700 and then to the May highs around 7800.Sellers will need a drop back below 7500 and then below 7400 to provide a…
AUD/USD, GBP/AUD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free AUD Forecast Most Read: The Reserve Bank of Australia: A Trader’s GuideAUD FUNDAMENTAL BACKDROPThe Australian Dollar continued its recovery overnight with modest gains against both the Greenback and the GBP. The week thus far has proven to be another challenging one for the AUD following a continuation of the pause in rate hiking cycle by the RBA on Tuesday which weighed on the currency.Yesterday saw the AUD regain some strength and arrest its recent slump finishing the day up 0.2% against the US Dollar. The move in…
Palantir and WesTrac renew Australian partnership for five years Source link
Missed the range breakout on EUR/AUD? If you’re still bullish, you might wanna keep these pullback levels on your radar. As you can see on the 4-hour chart below, the pair is in correction mode to these potential support zones marked by the Fibonacci retracement tool. EUR/AUD 4-hour Forex Chart by TV Now the 61.8% retracement level is right smack in line with the former range resistance, which might be a prime entry point for buyers. A shallow pullback could already find support at the 50% Fib at 1.6562 or even the 38.2% level just slightly above the 1.6600 major…
The market is in a calmer mood once again as we look towards European trading but this time, perhaps in better standing. Stocks are looking a little more buoyed after Amazon’s earnings beat but we’ll see if that tide through until the end of the day.In FX, major currencies are once again little changed with dollar pairs still relatively stuck in narrow ranges. There might not be much appetite really until we get to the US non-farm payrolls later today.Coming up in Europe, there will be some light data points but nothing that will really impact markets whatsoever. As such,…
British Pound Vs US Dollar, Euro, Japanese Yen – Price Setups:BOE rate hike could trigger a minor rebound in GBP/USD.EUR/GBP’s rebound appears to be running out of steam.What is the outlook on key GBP crosses and what are the key levels to watch? Recommended by Manish Jaradi How to Trade the “One Glance” Indicator, Ichimoku The British pound looks set to recoup some of its recent losses after the Bank of England (BOE) raised interest rates by 25 basis points to 5.25% and didn’t rule out further tightening.The BOE stopped short of signaling that UK interest rates are peaking. “I…
Share: Gold Price portrays corrective bounce at multi-day low as market prepares for US employment data. Retreat in US Treasury bond yields from worrisome levels adds strength to XAU/USD rebound. China stimulus talks, mixed US data also keep Gold buyers hopeful but economic fears, hawkish Fed concerns challenge XAU/USD upside. Strong US NFP and CPI needed to confirm September Fed rate hike and propel Gold Price toward $1,955 hurdle. Gold Price (XAU/USD) remains mildly bid as it consolidates previous losses amid pre-NFP positioning. Also allowing the Gold Price to remain mildly bid are the headlines suggesting China stimulus…
It’s time for another jobs report from Canada! Here’s what you need to know if you plan on trading this major event. Event in Focus: Canada’s June Employment Data: Employment Change, Unemployment Rate When Will it Be Released: August 4, 2023 (Friday) 12:30 pm GMT Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Net of 24.4K jobs added in July, following earlier 59.9K gain in June Unemployment rate to tick higher from 5.4% to 5.5% Relevant Data Since Last Event/Data Release: S&P Global manufacturing PMI remained in contraction for July, as the “uncertain…