Author: FX
Have you ever gone through a rough patch in your trading performance and couldn’t seem to figure out what was going wrong? You have probably encountered a few losing streaks here and there but you eventually made it back on your feet by making the necessary adjustments. But unless you’re able to pinpoint the root of the problem, you’ll likely have an even tougher time bouncing back. If you are going through this situation, chances are that the pressure to get back in the black is making it difficult for you to assess what the problem is. Instead of letting yourself get…
USD/JPY PRICES, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free JPY Forecast Most Read: Japanese Yen Drops as BOJ Keeps Policy Settings Unchanged: Where to for USD/JPY?USD/JPY FUNDAMENTAL BACKDROPThe Yen suffered overnight as comments from Bank of Japan (BoJ) Governor Kazuo Ueda following hist first monetary policy meeting struck a dovish tone. USD/JPY rallied higher in the Asian session from a low around 133.30 to a European session high (at the time of writing) of 135.85.All eyes were focused on BoJ Governor Ueda in his first monetary policy meeting with many market participants hoping for a pivot or…
JaysonPhotography Stock index futures pointed to a lower opening Friday but inflation data before the bell will likely influence sentiment. Nasdaq 100 futures (NDX:IND) -0.3%, S&P futures (SPX) -0.3% and Dow futures (INDU) -0.2% were lower. Amazon weighed as it fell premarket, erasing a post-earnings pop with caution on cloud growth. For the week, the S&P 500 (SP500) is flat, the Nasdaq Composite (COMP.IND) is up 0.6% and the Dow (DJI) is little changed. Rates were lower. The 10-year Treasury yield (US10Y) fell 6 basis points to 3.47%. The 2-year yield (US2Y) fell 7 basis points to 4.03%. On the…
Euro Area and German GDP Sends EU Assets LowerGerman GDP stagnates, EU confirms growth slowdownEUR/USD pulls back on hotter US inflation data amid a weaker growth outlook, but the uptrend remains in tactDAX index gapped higher but has declined significantly on the pessimistic fundamental dataThe 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 Get Your Free EUR Forecast German GDP Stagnates, EU GDP Reveals Growth Slow DownQ1 GDP data for Germany narrowly avoided a contraction as the first three months of…
Asian stock markets managed broad gains, with Japanese markets outperforming and the Nikkei rallying 1.4%, after a dovish leaning BoJ announcement that left policy settings unchanged, but signalled a longer term review of the overall framework, while stressing that the easing bias remains in place. The BoJ called for a “broad perspective review” of policy, with a time frame of around 1- to 1.5-years. There was speculation of this, especially after the Nikkei News story hinting as such. But it was not clear it would be announced today at Governor Ueda’s first meeting. The Bank left policy unchanged with a…
The USD boosted to 101.50. More strong earnings reports from big tech boosted Wall Street with US100 advancing 2.43%. Treasury yields also climbed on a more hawkish view on the FOMC’s trajectory after an acceleration in core PCE inflation. Good news from Amazon added to that from Meta, Alphabet and Microsoft and more than countered ongoing concerns over regional banks. In Japan, Kazuo Ueda announced a comprehensive policy review in his first policy board meeting as Bank of Japan governor but held off from changing its ultra-loose monetary stance. BoJ’s Ueda ready to add to easing…
Economic indicators will provide a good judgment on thatCan even be before next year’s labour talks i.e. shunto negotationsNext year’s labour talks will be very important factor for inflationBut does not mean we have to wait for it to make any decisionI would argue that these are decently hawkish remarks as he is opening the door for the potential for policy tweaks and/or changes down the road. However, one can also make a counter-argument that with the already positive wage developments last month, it should’ve been enough for Ueda to lay out his plans; and not kick the can to…
Cable is struggling to find a new direction after breaking a key resistance level. Which way will GBP/USD go? Check out this 4-hour chart! GBP/USD 4-hour Forex Chart by TradingView Cable has had a good couple of weeks, rising from its 1.1820 March lows to trade at its current 1.2490 levels. In fact, GBP/USD’s uptrend has taken the pair past the 1.2450 resistance that led to 600-pip downswings back in December and in early 2023. Now that GBP/USD has passed the resistance, is it ready to make new 2023 highs? April’s range is giving “not so fast” vibes. Watch the…
Share: GBP/USD is hovering near 1.2500, gathering strength for a decisive breakout. The USD Index has regained strength as investors are shifting their focus toward the Fed policy. GBP/USD is consolidating in a range of 1.2436-1.2500 amid the absence of a critical trigger. The GBP/USD pair is consolidating near the psychological resistance of 1.2500 in the Asian session. The Cable is gathering strength for a sustained breakout above 1.2500 after a few failed attempts. Rising expectations of more interest rate hikes from the Bank of England (BoE) to arrest double-digit stubborn inflation are fueling fresh blood into the…
NiseriN/iStock via Getty Images Exxon Mobil (NYSE:XOM) and its partners said Thursday they made a final investment decision to develop their fifth and most expensive project on Guyana’s offshore Stabroek block. The $12.7B Uaru project will produce ~250K bbl/day and cost 27% more than the previous project of equivalent size, reflecting rising costs. The companies said the project, targeted for a 2026 startup, will include up to 10 drill centers and 44 production and injection wells aimed at developing an estimated resource of more than 800M barrels of oil. Two FPSOs, the Liza Destiny and Liza Unity, are currently operating…