Author: FX

Share: Here is what you need to know for next week: Markets are offering mixed signs amid an uncertain outlook. Not even central bankers know what to do next. After crucial economic data from the US, what is clear is that the economy is softening and inflation is slowing down. Another week went without a banking failure.  The US Dollar staged a strong recovery on Friday, trimming weekly losses. Despite the revival, the trend remains down. Expectations point to one last rate hike by the Federal Reserve (Fed) in May and a long pause, before rate cuts. The…

Share: Bank of Canada (BoC) Governor, Tiff Macklem mentioned on Friday, that the governing council discussed raising interest rates on Wednesday when they decided to leave them on hold at 4.50%, as expected.  BoC Governor reiterated that interest rates may need to stay at higher levels for a longer period of time to get inflation back to the target. Regarding quantitative tightening, he said that will likely continue amid interest rate normalization, but it could end earlier if the economy needs stimulus.  Macklem is in Washington attending the International Monetary Fund Spring Meeting.  Market reaction USD/CAD is hovering around…

Share: Retail Sales in the United States plunged as Industrial Production decelerated. US Consumer Sentiment improved, but the needle on inflation expectations rose. AUD/USD Price Analysis: Could test 0.6600 with a daily close below 0.6700. AUD/USD reverses its course after failing to break the 200-day Exponential Moving Average (EMA) at 0.68099m re-treating beneath 0.6700. economic news from the United States (US), alongside a hawkish tone of US Federal Reserve (Fed) officials, were the driving factors of AUD/USD’s price action. The AUD/USD is trading at 0.6698, down 1.26%. Risk-off impulse, and US consumer’s higher inflation expectations, bolstered the USD…

“We can’t exclude that we might have to tighten monetary policy again” he said in a press interviewThis is hardly a revelation with the market looking for either 25 bps (61%) or 50 bps (39%) at the June 22 meeting and about 60 bps more in tightening is priced in. Source link

Share: XAG/USD is poised for five consecutive weeks of gains, up 0.81%. Silver’s break below $26.00 opened the door for a test of $25.00. Silver price reached a new YTD high at $26.08, but retraces, as traders booking profits, are forming a bearish-engulfing candle pattern, suggesting that further downside is warranted. Among technical indicators, US economic news and Fed speakers underpinned the US Dollar (USD) to the detriment of the white metal. At the time of typing, the XAG/USD is trading at $25.23, down 2.26%. XAG/USD Price Action The XAG/USD is still upward biased from a daily chart…

“Trade with the trend!” In my experience, this is one of the best trading advices that I have had. Trading with the trend simply means trading with the general flow of the market. In the bigger scheme of things, trading with the trend means trading with momentum. If you would zoom out a trending market on the lower timeframe, chances are you are looking at a strong momentum. This often leads to trading with higher win probabilities. One of the reasons why traders have a hard time trading with high accuracy is that they find it difficult to trade in…

Challenges are expected in forex trading, but have any of these become big enough to turn into major obstacles for you? Here are some of the typical barriers to profitability and how you can overcome them. 1. Insufficient capital One of the first barriers to trading for many is the lack of financial capital to put in a live account. While some have a good amount of savings and a steady stream of income, this does not always guarantee enough capital for trading. After all, you should only trade money that you can afford to lose while at the same…

SimoneN/iStock via Getty Images London copper prices hit a seven-week high Friday before pulling back as investors locked in profits after the metal’s 3.3% gain this week, driven by a weaker dollar and tightening inventories. The U.S. dollar slid to a one-year low against a basket of currencies after surprising data showed U.S. producer prices falling by 0.5% in March. Copper inventories in warehouses monitored by the Shanghai Futures Exchange are down 4% this week, and copper held in warehouses registered by the London Metals Exchange has fallen to its lowest level since 2005. According to Reuters, benchmark LME copper…

© Reuters. FILE PHOTO: Canada’s Minister of the Environment and Climate Change Steven Guilbeault speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada, April 7, 2022. REUTERS/Patrick Doyle By Yuka Obayashi and Katya Golubkova SAPPORO, Japan (Reuters) -Canada is ready to become a reliable provider of critical minerals to its international allies including Japan, a senior official said, as the Group of Seven (G7) countries deem such minerals essential for climate goals and energy security. Canada has signed a joint action plan with the United States to advance secure supply chains for critical…

EUR/USD News and AnalysisMagnitude of ECB hike may depend on EU lending survey, core inflation – ECB’s WunschEUR/USD technical considerations as the pair reaches a new yearly highUS earnings season kicks off with the banks and EU core inflation could support current eurusd bull trendThe 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 Find out what our analysts foresee in EUR/USD in Q2 Magnitude of ECB Hike May Depend on EU Lending SurveyECB policymaker Pierre Wunsch highlighted the urgency for the…