Author: FX
The Euro (EUR) has pulled back following news of the nomination of Kevin Warsh as the next Federal Reserve (Fed) Chairman, but remains trading in a tight range, with bulls called below 1.1950 and support at the 1.1900 area containing downside attempts for now. Better-than-expected Gross Domestic Product (GDP) figures in Germany and the Eurozone, and the uptick in German inflation, have failed to provide any significant support to the pair.US President Donald Trump has confirmed market rumours, choosing former Fed governor Kevin Warsh as the replacement for Jerome Powell as the head of the Fed. The news, advanced by…
S&P 500 futures are now down 0.9% on the day as losses continue to build to start European morning trade. Tech shares are leading declines once more with Nasdaq futures down 1.1% currently. Meanwhile in Europe, major indices are holding slight gains after the more sluggish showing late yesterday. Germany’s benchmark DAX index is at least looking to recover some poise after three straight days of declines, sitting up 0.7% currently.There is plenty to digest in terms of market happenings in the last 24 hours. For one, the heavy selling in precious metals is causing a stir as volatility spikes…
The Japanese Yen (JPY) adds to softer Tokyo CPI-inspired losses amid reduced bets for an early interest rate hike by the Bank of Japan (BoJ). Adding to this, concerns about Japan’s financial health amid Prime Minister Sanae Takaichi’s reflationary policies and political uncertainty ahead of the snap election on February 8 contribute to the JPY’s safe-haven status. This, along with a modest US Dollar (USD) strength, lifts the USD/JPY pair beyond the 154.00 mark heading into the European session on Friday.Meanwhile, speculations that Japanese authorities would step in to stem further weakness in the domestic currency might hold back the…
The QQE Mod indicator takes a different approach. It smooths out that noise while keeping the responsive edge traders need for quality entries. This modified version of the Qualitative Quantitative Estimation indicator doesn’t eliminate false signals—nothing does—, but it filters the junk better than standard momentum tools. What the QQE Mod Indicator Actually Is QQE Mod is a momentum oscillator that builds on the original QQE indicator, which itself was derived from the RSI. Think of it as RSI’s more sophisticated cousin. While standard RSI measures the speed of price changes, QQE Mod adds multiple smoothing layers and a volatility…
With traders already on edge over Fed chair speculation and Middle East oil shocks, Monday’s ISM reading could either validate the “bottoming out” narrative or send another jolt through dollar positioning just as Friday’s NFP looms on the horizon. Here are points you need to note if you’re trading next week’s manufacturing survey release! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access to MarketMilk™ Plus More! Source link
Gold slumps as bets of a more hawkish Fed chair rise; set for best month since 1980 Source link
EUR/JPY is sporting long wicks near a major support zone after trading lower earlier this week. Are we looking at a trend retracement opportunity in the making? Here’s what we’re seeing on the daily time frame: EUR/JPY Daily Forex Chart Faster with TradingView Chart by TradingView In case you missed it, fears of currency intervention from Japanese and even U.S. officials had traders pulling back on their short yen positions. The euro, meanwhile, gave up a few pips as U.S. EU trade tensions eased and U.S. dollar demand improved. Will EUR/JPY’s tides change in the next trading sessions when the…
CAD/CHF appears to be in correction mode, as the pair is closing in on the broken support zone near Fib retracement levels. Will it hold as resistance this time? Better keep tabs on these inflection points on the 4-hour time frame! CAD/CHF 4-hour Forex Chart Faster with TradingView The Loonie continues to draw support from the not-too-dovish Bank of Canada (BOC) decision earlier this week, pulling up from its recent dive to test the Fibonacci retracement levels. The pair is hovering around the 38.2% Fib just above S1 (.5670) but could still go for a higher correction to the 61.8%…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: investingLive is not an investment advisor, investingLive provides references and…
On Friday, the People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead at 6.9678 compared to the previous day’s fix of 6.9771 and 6.9459 Reuters estimate. PBOC FAQs The primary monetary policy objectives of the People’s Bank of China (PBoC) are to safeguard price stability, including exchange rate stability, and promote economic growth. China’s central bank also aims to implement financial reforms, such as opening and developing the financial market. The PBoC is owned by the state of the People’s Republic of China (PRC), so it is not considered an autonomous institution. The Chinese…