Author: FX
Share: US Dollar came under renewed selling pressure in the American session on Monday. EUR/USD bullish bias stays intact as the pair holds above key support area. ISM Manufacturing PMI showed that business activity in the sector continued to contract in March. Following the rebound witnessed on Friday, the US Dollar (USD) started the new week on a bullish note and the US Dollar Index (DXY) recovered toward 103.00 during the Asian trading hours. In the second half of the day, however, the disappointing ISM Manufacturing PMI report for March caused the USD to weaken against its rivals.…
Some time ago, I got a chance to talk to a group of traders who were just getting their feet wet in forex trading. I’m sharing with you a list of what they said are the most important lessons that they’ve learned so far. I’m sure you can relate to at least one or two points: 1. Stick to the plan A lot of traders mistake trading plans as a set of rules that may or may not be followed when executing a trade. There is nothing binding you to follow the plan and there are times where you feel…
Finance of America names new CEO, president after closing acquisition Source link
US Dollar (DXY) Price, Chart, and AnalysisThe US dollar remains under pressure.OPEC+ output cut may keep rates higher for a bit longer. Recommended by Nick Cawley Get Your Free USD Forecast The Organisation of Petroleum Exporting Countries (OPEC) and Saudi Arabia announced a surprise round of oil production cuts over the weekend, sending oil sharply higher. OPEC+ said that production cuts totaling 1.15 million barrels per day would start in May. These cuts are in addition to the 2 million barrels per day of cuts agreed upon last October. OPEC+ said the additional cuts were needed to stabilize the oil…
Q2 kicks off with Easter Week, meaning many markets around the world will be closed, likely making for a slower, quieter pace of trading after the whiplash in Q1. USD strengthened today and extends Friday’s gains with the help of diminished bank fears and the improved outlook on the economy. US Stock markets closed out Q1 firmly with solid gains and some quarter-end flows. The major indexes are higher for the year-to-date, paced by the US100‘s 16.8% pop. Asian markets are higher into the new quarter, US futures are mostly lower but European are mixed. Australian national home values rose…
<ul><li>Prior +3.4%</li><li>Core CPI +2.2% y/y</li><li>Prior +2.4%</li></ul><p style="" class="text-align-justify">On the month itself, inflation increased by 0.2% and that is slightly lesser than estimated (0.4%). The other positive development is that core annual inflation is also seen softening, alongside the headline reading. The latter of course is largely due to base effects.</p> This article was written by Justin Low at www.forexlive.com. Source link
Share: GBP/USD has faced barricades near 1.2300 after an attempt of recovery. S&P500 futures are holding onto losses generated in the Asian session, portraying a cautious market mood. The USD Index has refreshed its weekly high above 103.00 as higher US inflation expectations were prompted by upbeat oil prices. The GBP/USD pair has slipped sharply below the round-level support of 1.2300 in the Asian session. The Cable went through turbulent times as investors shifted their funds into the US Dollar Index (DXY) in hopes that the Federal Reserve (Fed) will hike rates further dramatically. The USD Index has…
The RBA and RBNZ are kicking off another round of interest rate decisions this week! Will we see a rate hike pause? Meanwhile, we’ll see updated U.S. labor market numbers when a couple of PMIs, the ADP report, and the closely watched NFP data are released. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched potential market movers on the economic calendar this week: Major Economic Events: RBA’s policy decision (Apr 4, 4:30 am GMT) – Given that Reserve Bank of Australia…
once heard from a fellow trader say, “A trend is a run, and a run is a trend. The difference lies only on the timeframe.” I’m not sure if this was originally his or he just quoted this. Still, this thought on trading holds a lot of truth in it. Many traders use trends and momentum interchangeably. In a way, trends and momentum does have so many similarities. In fact, traders may argue that they are the same. However, my personal take is that trends tend to matter for the longer-term direction while momentum matters for the more immediate direction.…
Last Tuesday (March 28), Alibaba Group announced “the most important organizational change in 24 years” with the purpose of achieving “agile organization”, that is, the “1+6+N” organization. This means that Alibaba’s six major business groups (Taobao Tmall Business, Alibaba Cloud Intelligence, Local Life, Cainiao, International Digital Commerce, and Big Entertainment) and multiple business companies (Ali Health, Sun Art Retail, Yintai Commercial, Quark, etc.) will be independently responsible for and operate their respective departments. Except for Taobao Tmall Business Group, the other business groups have the possibility of independent financing and seeking a separate listing. This is comparable to the largest…