Author: FX
It was a subdued range-bound day across major FX ahead of the US market holiday today, Monday. The NYSE and Nasdaq are both closed, as is the bond market. USD/JPY traded higher to begin the session, topping out circa 134.50-odd before slipping back to circa 134.30 as I post. EUR/USD drifted lower initially before it too retraced somewhat. News flow was very sparse. There were no data releases of note.In China we had the monthly setting of Loan Prime Rates. Last week we had the latest medium-term Lending Facility (MLF) at an unchanged rate. This was strongly suggestive of no…
Market trends are often identified based on a consistently rising or dropping swing high or swing low. Price action traders identify uptrends based on rising swing highs and downtrends based on dropping swing lows. Although this method can be very effective, newer traders may struggle to objectively identify trend direction based on swing highs and swing lows. The strategy discussed below uses an indicator which objectively identifies trend direction based higher highs and lower lows. Aroon Indicator The Aroon Indicator is a momentum technical indicator which was developed by Tusar Chande in 1995. This indicator was created to help traders…
There are several ways to trade the forex market based on the duration of each trade. Scalpers trade based on minute charts with trades that last only for a few minutes. Day traders on the other hand trade on 5-minute up to 30-minute charts with trades lasting from a several minutes to several hours but never more than a day. Swing traders on the other hand trade on higher timeframes such as 1-hour charts up to daily charts and would hold trades for several days even up to more than a week. Position traders on the other hand would hold…
Share: The Bank of Japan (BoJ) announced on Monday that it offers to purchase JPY1.75 trillion worth of Japanese government bonds (JGBs). Key details JPY425Bln 1-3 year. JPY500 billion 3-5 year. JPY675 billion 5-10 year. JPY150 billion 25+ year. Market reaction Amidst speculations of a potential BoJ yield policy move at Governor Haruhiko Kuroda’s final meeting on March 9-10, the Japanese yen is fighting back some control against the US Dollar. At the time of writing, USD/JPY is trading 0.12% higher at 134.32, retreating from daily highs of 134.54. Source link
Alibaba Group, China’s largest e-commerce company (with a market capitalisation of over US$270 billion) founded by Jack Ma in 1999, offers a variety of e-commerce services to meet online shopping needs through its online platforms Taobao (C2C), Alibaba (B2B) and Tmall (B2C). The company has also expanded its international presence through global AliExpress and Lazada. The company is scheduled to report its third quarter 2022 results before the market opens on Thursday, 23 February. Figure 1: Alibaba’s revenue distribution for the third quarter of 2022. Source: Statista Domestic commercial retail generated the most revenue for the company. In Q3 2022,…
Japanese Yen, USD/JPY, US Dollar, Fed, Yields, BoJ, Ueda, Momentum – Talking PointsThe Japanese Yen has slipped today as markets take stock of Fed commentsA new BoJ Governor will speak later this week with all eyes on any policy tiltThe technical might see some sideways price action. Will USD/JPY trend resume? Recommended by Daniel McCarthy How to Trade USD/JPY The Japanese Yen is slightly weaker to start the week with the US Dollar firming across the board.The perception that the Federal Reserve might move toward 50 basis point (bp) hikes rather than 25 bp appears to be weighing on markets.Cleveland…
© Reuters. FILE PHOTO: An aerial view shows Vladimir Arsenyev tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel By Florence Tan SINGAPORE (Reuters) – Oil prices were little changed in early Asian trade on Monday, after settling down $2 a barrel on Friday, as rising supplies in the United States and forecasts of more interest rate hikes cooled optimism over China’s demand recovery. slid 9 cents, or 0.1%, to $82.91 a barrel by 0051 GMT. U.S. West Texas Intermediate crude for March, which…
Media outlets reporting on the weekend meeting between Chinese Director of the Office of the Central Foreign Affairs Commission Wang Yi and US Secretary of State Antony Blinken on the sidelines of the Munich Security Conference are not encouraging. Bloomberg (gated), says the two:traded barbs on everything from the balloon and Taiwan to North Korea and RussiaThe rocky meeting and sharp rhetoric around it demonstrated just how sour the US-China relationship is, and how both sides appear willing to squabble over petty issues. In its readout of the talks, China refused even to call it a meeting, referring to it…
Share: Silver price has slipped below $21.60 as the dismal market mood has improved the safe-haven’s appeal. S&P500 futures have extended their losses further amid the renewal of US inflation fears. The preliminary annualized GDP for the fourth quarter is expected to remain steady at 2.9%. Silver price (XAG/USD) has delivered a vertical fall to near $21.55 in the Tokyo session. The white metal tumbled like a house of cards as the escalating geopolitical tensions strengthened the risk aversion theme. Silver price is expected to continue its downside momentum as the fears of a recovery in the United…
© Reuters. FILE PHOTO: A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. REUTERS/ SEOUL (Reuters) -North Korea fired two ballistic missiles off its east coast, South Korea’s military said on Monday, as the powerful sister of leader Kim Jong Un warned of turning the Pacific into a “firing range,” heightening tensions in the region. Japan’s Coast Guard said North Korea launched three projectiles that could be ballistic missiles shortly after…