Author: FX
An appreciation of the US Dollar weighs on Silver prices. The robust US Producer Price Index report confirms that inflation is stickier than estimated. Consumer Sentiment in the United States improved last week while inflation expectations eased. Rising US Treasury bond yields undermine the XAG/USD value. Silver price retraces from daily highs of $23.53 reached in the European session and tumbles toward $23.17, courtesy of a sudden change in market mood, with US Treasury yields trimming its earlier losses, while the US Dollar (USD), shifted positively. Therefore, the XAG/USD is trading at $23.16, below its opening price by 1.31%. US…
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4/4 © Reuters. Women wearing face masks and face shields talk on a street, as coronavirus disease (COVID-19) outbreaks continue in Shanghai, China, December 12, 2022. REUTERS/Aly Song 2/4 By Eduardo Baptista and Josh Ye BEIJING/HONG KONG (Reuters) -People queued outside fever clinics at Chinese hospitals for COVID-19 checks on Monday, a new sign of the rapid spread of symptoms after authorities began dismantling an apparatus they used to surveil residents and curtail movement. Three years into the pandemic, China is acting to align with a world that has largely reopened to live with COVID, making a major policy change…
The new week begins with the Dollar in focus ahead of key economic data in the form of CPI and central bank rate decisions. Dollar The Dollar begins the new week adding to the gains accrued last week, ahead of key economic data releases in the form of inflation data for November as well as the much-anticipated FED rate decision. Factors driving this initial exuberance can be attributed to the upbeat data that was released last week in the form of US Producer Price Index data, which matched the market expectations, coming in at the forecasted 7.4% YoY for November…
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Have you ever had one of those days? Your charting software didn’t work just right, your internet connection was doggedly slow, and you forgot to read up on this week’s latest economic report releases, so you missed all the good opportunities. All of these events are just a select few sources of stress that the average active retail trader has to deal with. Not dealing with these episodes correctly, and letting them build upon each other, can overwhelm you. When you’re thinking with a stressed mind and body, your mind isn’t focused, and this can mean danger for your trading. This…
EUR/USD holds firm trend through the upper 1.05s. Economists at Scotiabank believe that the pair could reach 1.0650/1.0750 in the coming weeks. Uptrend is intact and not at any obvious risk at the moment “EUR/USD looks somewhat consolidative but the broader uptrend is intact and not at any obvious risk at the moment.” “Gains through 1.06 sustain the developing bull trend in the short run and will help lift the EUR towards the 1.0650/1.0750 range we think is reachable in the next few weeks.” “Support is 1.0525 intraday and (firmer) 1.0450/75.” Source link
Trading is a game of large numbers. In fact, this game of large numbers is called probabilities. It is a given that traders would have some wins and some losses. However, a winning trader would always come out on top because probabilities would dictate that as long as he or she has enough number of trades, he would be profitable. So, how do we skew the game of probabilities in our favor? Different traders have different ways to become consistently profitable. However, one of the best ways to increase our chances is by looking for confluences. Confluences are basically a…
Pgiam/iStock via Getty Images Stock index futures are up slightly Monday but trading is expected to be cautious before the CPI on Tuesday and the Fed decision on Wednesday. Nasdaq 100 futures (NDX:IND) +0.3%, S&P futures (SPX) +0.2% and Dow futures (INDU) +0.2% ticked higher. The 10-year Treasury yield (US10Y) fell 4 basis points to 3.53% and the 2-year yield (US2Y) fell 5 basis points to 4.33%. “The Fed, the ECB and the BoE are all expected to downshift the pace of rate hikes to 50bps this week from 75bps at their last meetings. US CPI first though,” Deutsche Bank’s…
© Reuters. Wirecard’s former CEO Markus Braun arrives in the courtroom as his trial continues, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 12, 2022. REUTERS/Lukas Barth By Jörn Poltz MUNICH (Reuters) – The former Wirecard CEO Markus Braun began his defence in Germany’s biggest post-war fraud trial on Monday, as his lawyer dismissed allegations of wrongdoing at the defunct payments company as “absurd” and prejudiced. Braun, 53, and two other managers are on trial on charges including market manipulation and fraud and could be sentenced for up to…