Author: FX
The GBPUSD surged on Friday, helped by the lower nonfarm payroll data in the US. The price rise took the price to the June high at 1.28478. The high price on Friday reached 1.28487 – a pip ahead of the June high. The GBPUSD price backed off into the close on Friday.In trading in the Asian session today, the buyers turn to sellers. The last few hours have seen increased momentum to the downside in the pair as traders retrace the Friday gains. The pair is now looking to test its rising 100-hour moving average of 1.2744. A swing area…
The term “recency bias” gets thrown around a lot in the trading scene, but what exactly is it? In the most basic sense, recency bias refers to the tendency of traders to look at only the latest set of events while disregarding older but equally important (or sometimes even more important) pieces of information. Recency bias negatively affects the way a trader analyzes the market, as it clouds his judgment and damages his decision-making skills. In forex, the most common manifestation of recency bias is when a trader zones in only on his most recent trading decisions and loses sight…
Share: Economists at Scotiabank analyze EUR/USD outlook. Trend remains bullish Another hike this month remains likely, with the door likely left open for a September move as well. Rates may only fall slowly thereafter, as well, adding to EUR support. The EUR’s bullish break out from the June consolidation range has not extended too far and is consolidating today in a narrow range. But the move has room to develop. The initial target should be a push – and hold – above 1.10 and then further gains to retest the YTD high at 1.1110. Source link
Biggest stock movers today: Icahn Enterprises, Nanobiotix and more Source link
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, and S&P 500 Analysis and ChartsThe FTSE 100 is fast approaching its March low at 7,204 as the UK 2-year yield trades at 16-year highs and China’s economy remains sluggish.China’s factory-gate prices for June experienced the most significant decrease in seven-and-a-half years, while consumer inflation stayed unchanged and reached its lowest point since 2021. Even though these economic indicators suggest that China’s policymakers may need to introduce more stimulus measures to boost sluggish demand, the short-term impact on most Asian stock markets has been negative on Monday, weighing on…
© Reuters. FILE PHOTO: The logo of Alibaba Group is seen at the company’s headquarters in Hangzhou, Zhejiang province, China July 20, 2018. REUTERS/Aly Song/File Photo By Scott Murdoch and Donny Kwok HONG KONG (Reuters) -Alibaba Group and Tencent shares rose in Hong Kong on Monday after China’s $984 million fine against the Jack Ma-founded Ant Group appeared to signal the end of a regulatory crackdown on the country’s technology sector. Following the penalty on Friday, the Alibaba (NYSE:) affiliate announced a share buyback that values the fintech at a 75% discount to the valuation touted in an abandoned initial…
Looking for Aussie trades now that China printed a downbeat inflation report? Check out this neat reversal formation on AUD/CAD! The pair is just closing in on its neckline support, so you might still be able to catch the double top breakdown. AUD/CAD 1-hour Forex Chart by TV Market players seem to be starting the week on a risk-off note since China just released weaker than expected CPI and PPI figures earlier today. Instead of posting the estimated 0.2% year-over-year gain, headline CPI stayed flat in June. Producer prices also came up short and posted a steeper 5.4% drop compared…
We’ve got a parade of top-tier economic releases that could lead to the re-pricing of interest rate expectations this week! Aside from BOC and RBNZ‘s monetary policy announcements, we’ll also see the U.K.’s latest jobs numbers, as well as Uncle Sam’s official inflation, reads. 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 economic indicators on the calendar this week: U.K.’s jobs data On July 11 at 6:00 am GMT, we’ll see one of two top-tier economic releases that may affect the…
Share: NZD/USD attract some sellers on Monday and is pressured by the emergence of some USD buying. Elevated US bond yields and a generally softer risk tone revive demand for the safe-haven buck. The downside seems limited ahead of the RBNZ meeting and the key US CPI report later this week. The NZD/USD pair meets with a fresh supply on the first day of a new week and erodes a part of Friday’s strong move up to the 0.6220 area, or over a two-week high. The steady intraday descent drags spot prices to the 0.6180 region during the…
Last May 2023, Gold reached its highest level since August 2020 at $2,078.54, according to the financial data from ActivTrades on Gold. Earlier this year, the ongoing banking crisis and uncertainties in the financial markets supported the price of Gold. It is interesting to note that during the first quarter of the year, the demand for Gold from central banks has reached an all-time high since the data series began in the 2000s, according to the World Gold Council. A weaker USD at the beginning of the year also helped support Gold demand, not forgetting that the recent rate hikes…